Based on extensive experience, we realize many CPA firms need highly cost-effective support to function efficiently and grow strategically. KMK Ventures’ remote accounting staffing in USA provides back-office support, so our clients, tax professionals, and CPA firms can focus on the strategic expanse of their business.
FOCUS ON BUSINESS, WE WILL TAKE CARE OF YOUR ACCOUNTING
Our Services to US Based CPA Firm
Our tried and true process workflows and methodologies support CPA firms with a broad spectrum of services that include
- Payroll Processing
- Sales tax compliance
- Tax Preparation
- Other Customized Solution
Our standard workflow involves a project management system for communication and collaboration, well-defined work-papers, trained staff, and secured file exchange tools. We function like a well-oiled machine that delivers results during the peak time of year.
We take care of the processing headaches, so our clients can focus on customer relationships and growing their business.
Outsourced Accounting Services
Tax preparation is faster and more efficient than it was in the past because of the digital format—virtual tax preparation USA imports client data from personal finance websites or bookkeeping programs. Smart CPAs know preparing client tax returns is an effective form of prospecting another business.
Clients view tax preparers as advisors or professionals rather than salespersons. With proper training, licensure, and experience, they have a strategic advantage that allows them to quickly ascertain a client’s financial situation and offer other services needed, such as bookkeeping, auditing, or comprehensive financial planning.
KMK Ventures works with clients to provide outsource tax preparation services for corporations where they are C Corporations that are taxed as a business; S Corporations that pass revenue reports to stakeholders who are taxed on personal returns; Partnerships, Limited Liability Companies, Trusts, and individual tax returns.
Our virtual tax preparation service USA is well-versed in U.S. regulations, instructions, and tax forms. The tax return preparation services we provide are the best online tax preparation services. Our specialized staff assists clients with a systematic and detail-oriented approach that uses well-defined processes and work papers.
A significant reduction in review time enables our clients to focus on expanding their business and adding customers to their portfolios. Our staff undergoes continuous training to remain up-to-date with tax law changes and preparation.
The training procedure ensures our staff keeps pace with the latest workflow processes, software, and technology to enhance efficiency for tax preparation and is among the best tax preparation companies in USA . We offer an innovative means for CPAs to manage tax compliance and meet deadlines for filing returns. Our staff examines client balance sheets and properly categorizes each item.
Financial reports such as a statement of cash flow, income statement, and balance sheet are critical for business owners and leadership. Balance sheets illustrate capital structure, liabilities, and assets. An income statement details expenses, revenue, and net income. A cash flow statement delineates financing, investing, and operational inflow and outflow. All information comes from a general ledger system that is updated by a bookkeeping process.
Bookkeeping is a tedious, time-consuming task with a low-profit margin. KMK Ventures’ accounting outsourcing services in India & USA help a CPA firm with a profitable proposal that begins with recording transactions and ends with the preparation of periodic financial statements. We set up an automated bookkeeping process for our clients that includes
- Gathering information such as bills, invoices, deposit slips, bank statements, canceled checks, credit card statements, etc.
- Record transactions and code them into a general ledger
- Preparing a list of items that require additional information or clarification from clients
- Preparing and recording adjustments to periodic financial statements and corresponding documents to facilitate the review process
- Keep track of W-9s for vendor payments and ensure 1099s are issued and filed timely
- Proactively send reminders for compliance due dates, such as payroll tax payments, sales tax payments, estimated federal tax payment, etc.
The processes save our clients time. Our remote accounting staffing team is well-trained in the use of accounting software that includes Zoho books, Sage, Oracle Net Suite, SAP Business One, Buildium, QuickBooks Pro, QuickBooks Online, etc.
At one time, the concept of sensitive information, such as salary data and employee records being in the cloud, was thought to be a security nightmare. The cloud has become more secure and, consequently, more accepted. Businesses take advantage of the convenience, and speed cloud payroll applications offer.
Payroll processing is an elemental bookkeeping process that requires highly diligent effort. Accurate and timely payroll processing is essential to remain in compliance with tax regulations and maintaining employee morale. KMK Ventures’ remote accounting staffing company USA works with clients to process employee payroll using software, such as PayCom, PayChex, ADP Workforce Now, etc.
We assist with the following.
- Setting up master employee details in software that includes name, address, tax residency, filing status, number of dependents, applicable city tax, medical and dental insurance deductions, Flexible Spending Account, coding workers compensation, periodic salary, or hourly wage rate, etc.
- Maintaining master employee details by updating employee information changes in the payroll software
- Gather information to process payroll, such as timesheets, HR records that include sick days, days off, etc.; to analyze and ensure compensation for irregular situations, like that of New York City employees’ sick days pay-out; deduct excess vacation days pay, etc.
- Running payroll cycles and providing clients with reports for final review
- Submitting payroll when approval is obtained
- Ensuring timely compliance when filing Federal Forms 941 and 940 which are employee quarterly tax returns that report the amount of federal income tax, Social Security tax, and Medicare tax withheld from employees’ pay and the Federal unemployment tax return, respectively; state withholding and unemployment returns;
- Ensuring the timely issue of W-2s and filing form W-3 that consolidates federal employee withholdings
Whether services and products are subject to sales take depends on the state. The landscape of the internet sales tax is in a constant state of change. In 2018, the Supreme Court opened the way for more states to collect sales tax on online sales.
Sales and Use Tax compliance are some of the most significant tasks for CPA firms. Accurate and timely filing is vital to compliance and avoiding potential penalties. We work with clients to help prepare Sales & Use tax forms for every state in the U.S. KMK Ventures assist with
- Preparing forms that define gross sales, taxable sales, and sales liability for every applicable state
- Tax preparation services in USA
- Tracking resale certificates on file and ensuring compliance
- Keep track of supporting schedules that reconcile with the general ledger to avoid any audit problems
- Keep track of sales tax updates that require our clients to collect sales tax from their customers
Having someone customize business processes so that they perform exactly how you want is a great help. KMK Ventures carefully considers and lays out requirements for any development program because errors cost time and money. We work with clients to perform procedures based on client needs. CPA firms require such support to ensure internal control systems’ external third-party checks and balances.
- Conducting review and preparing documents for audit and assurance services
- Management Information System Reporting that includes Actual vs. Budget financial reporting, Cost analysis reports, and Analysis of financial statements
- Support for accounts payable
- Support for accounts receivable
KMK Ventures is among the leading Outsourced Accounting Solution provider today. We provide professional, expert service to clients in India, the U.S, and other international countries. Our staff consists of Chartered Accountants and Certified Public Accountants.
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