Key Financial Solutions: What the Top Accounting Firm In Seattle Can Offer

There are a lot of things to look at when you are managing a business, finances being one of them. Fortunately, you have the option to seek the help of a top accounting firm in Seattle for this matter so you can focus on the other important aspects of your business. Before you call one, however, there are quite a few things you need to understand. What can an accounting firm actually do for you? Below are a few services the best accounting firms can offer.

Bookkeeping

Handling the financial system in any business or institution can be quite complex depending on the circumstances. An accounting firm can help in streamlining this process for you and make the flow of money all simpler and understandable. The firm can provide for a junior accountant or bookkeeper to take a look at this system and perform basic bookkeeping. 

This includes organizing the accounts payable and receivable, billings, taxes, bank reconciliations and the payroll, amongst others. These bookkeepers can also provide financial statements for the client upon request. However, these would have to be checked and validated first by a certified accountant before being submitted.

Accounting

In cases of high-level accounting concerns in a business, a top accounting firm in Seattle will employ a certified public accountant to attend to these concerns. Services like preparing annual budgets, creating detailed financial statements and preparing local or federal tax returns. These processes are considered one of the most complex aspects in accounting which means that only certified accountant can only perform this to minimize errors.

Accounting firms can also perform audit and business valuation services to give clients an idea of how their business is faring under current conditions. An accountant can also monitor the depreciation of assets to help clients determine how their business is valued at recently. Cash flow services are also provided so clients can understand what their financial systems currently need.

In cases of fraud issues, an accountant can perform forensic accounting services to help clients track and trace crucial information that will help them in their case. Keep in mind that every transaction, no matter how fraudulent it is, will always leave a track and an expert forensic accountant can root this transaction to help the business avoid legal ramifications. Depending on the firm’s specializations, they can also set up accounting, auditing, and financial information systems to help clients improve on their performance.

Consultation

The work of the top accounting firm in Seattle is not only limited to paperwork. In most cases, they are able to dispense advice on how clients can improve on their business finance-wise. This also means that they can help the client develop new strategies to increase their cash flow for the next accounting periods. All of these consultations are aimed at helping the client lessen their tax burden while also streamlining their financial systems.

Top accounting firms can also provide consultations for clients regarding risk management and investments. Given the major investment opportunities being presented by the market towards businesses, an accounting firm can help their clients make the right investment choices. This way, risks can be minimized while business opportunities can be used to full advantage.