KMA CPA
multi-colored-stained-paper-texture-4 (1).jpg

Services

Accounting Support for Small Businesses & Nonprofits

 

Let us customize an accounting solution to suit the unique needs of your organization. You will only pay for the services that you desire, and services can be easily added or amended over time as your needs change. 

 
 

QuickBooks Setup & Training

QuickBooks can provide useful and timely information in the form of financial statements, reports and graphs. However, it can only provide this information when it is installed, setup and used properly. KMA is a QuickBooks Certified ProAdvisor. We are equipped to help any size organization with desktop or cloud-based QuickBooks software. Our relationship continues after software setup because we are committed to helping you use QuickBooks effectively. 

Already have QuickBooks? An accounting system review and ongoing support may improve recordkeeping efficiencies and produce useful financial insights. Contact us to learn more about our QuickBooks Review. 

Small Business Bookkeeping

Organizations rely on accurate and timely financial data to manage risks and maintain profitability. A qualified CPA can help navigate important financial issues. KMA can manage all aspects of recordkeeping, including:

  • Accounting system setup

  • Bookkeeping (monthly, quarterly or annually)

  • Bank reconciliations

  • Reporting

  • Tax planning

 

Outsourced CFO

Growing organizations typical reach a point where they routinely need financial advice but can’t afford a full-time CFO or controller. The cost of hiring a qualified CFO can range from $60,000 to $100,000+ per year, but an outsourced CFO can help with financial decisions at a fraction of the cost. KMA is able to fulfill the following CFO functions for nonprofits and businesses:

  • Establishment of financial controls

  • Budget creation and management

  • Management of relationships with bankers, attorneys, insurance agents and vendors

  • Strategic planning

Payroll Processing

KMA is equipped to process payroll and manage payroll and sales tax filings. Most business owners and nonprofit managers who leverage KMA bookkeeping, tax and CFO services value the convenience of having a single resource to manage company finances.

 

Internal Control Review

An experienced professional can assess your organization’s procedures to determine if the appropriate internal controls are in place to ensure the proper handling of resources and to protect your organization from misappropriation of funds.

KMA can evaluate your internal control environment to determine the efficiency and effectiveness of your operational procedures. An Internal Control Review will include:

  • An evaluation of financial transaction procedures and segregation of duties 

  • Development of procedures to ensure that all transactions are authorized by personnel with approval authority and that the transactions are consistent with organizational policy

  • Confirmation that accounts are routinely reconciled and reviewed by someone other than the preparer to determine that all transactions have been properly recorded

  • Verification that equipment, inventories, cash and other organizational assets are physically secure, counted periodically and compared to the item descriptions on internal records

  • Appropriate training for employees and managers 

  • An organizational policy and procedure manual 

  • A review of operations to determine if results are consistent with established organizational objectives

Tax Planning & Preparation for Individuals & Entities

Tax laws are increasingly complicated. It can be easy to overlook deductions and credits to which you are entitled. Accounting software is extremely useful for tax planning purposes, but it cannot replace the support that an experienced tax professional can provide. KMA offers tax planning services as part of an ongoing relationship. Tax planning and preparation services include:

  • Electronic filing for faster processing and a faster refund

  • Identification of potential problems that could attract IRS attention

  • Analysis of payroll withholdings 

  • Preparation and filing of Federal and State individual, schedule C business, Forms 1120 & 1120S, 1065 and preparation and filing of K-1s

  • Preparation and filing of Form 990

 

Nonprofit Advisory Services 

KMA can help your organization apply for and/or maintain tax exempt status. Tax exempt entities are required to file Form 990, and the IRS requires very specific revenue and expense classifications. Nonprofit organizations must design and maintain accounting systems that fulfill these reporting requirements. Nonprofit advisory services include some or all of the following:

  • Review and compilation of financial statements

  • Design, installation and maintenance of an accounting system that fulfills functional reporting requirements

  • Completion and filing of nonprofit status application

  • Preparation of Form 990 and 990T

  • Functional expense training for accounting personnel

Advisory Services for New Businesses

KMA can help your business to establish appropriate accounting systems and fulfill compliance obligations. Advisory services for startups typically include:

  • Completion of startup documents (incorporation, federal employee identification number (FEIN) and payroll setup with federal and state agencies)

  • Analysis of software and accounting needs

  • Recommendations regarding software and hardware requirements

  • Software installation

  • Design and implantation of a chart of accounts (including payroll, accounts receivable, inventory and accounts payable)

  • Initial staff training

  • Follow up training