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W. S. Wray, CPA, PLLC
714 Oakland St
Hendersonville, North Carolina
CPAs: We do what we do so that you can do what you do - better.
We do prepare tax returns - individuals, businesses, trusts and estates - but there is so much more! Is there tax planning that you can do to minimize a tax burden? Waiting until Spring and seeing what happens isn't much of a plan and it might just backfire. Give us a call and let's take a look at your personal situation.
Assistance with closing (monthly, quarterly, annually)
Have you ever taken your financials to your tax preparer or CPA at the end of the year and gotten back something quite different from what you expected? A lot of adjustments go into closing a set of books. It’s not simple. It’s not easy. We live in a changing world. You need someone on your team who keeps up with the regulatory pronouncements and changes in accounting standards. Perhaps you'd like to see a more complete set of financials on a monthly or quarterly basis. You (and your financial information users) need to have an accurate idea of business performance all year long, not just at tax time.
Once the books are closed and "clean", you get a good set of financial statements. Now what? Are your receivables growing or shrinking? Why? If you lost money this month, what were the driving factors? How long will it take to turn a profit on that new product line? Is there any particular demographic of customer/client that performed better or worse than others (i.e. collections by zip code, credit score, payment amount, etc.). Are your commissions and chargebacks actually in line with sales? These are the kinds of questions to which I'd like to help you find answers. The numbers can tell you many, many things if you know how to find the information.
QuickBooks ProAdvisor - Certified in Desktop, Online, Enterprise and Point-of-Sale
QuickBooks is a leading software package for small business and you may be using it in your business right now. If so, do you know everything it can do? It takes time to learn - time you may not have. If there a trick or tip that can help your staff shave time off of a task or give you better reports, we want to make sure they have what they need. We have extensive QuickBooks experience. Through the ProAdvisor program, we have access to tools that you may not have. Let us help you.
Activity Based Costing (ABC)
How profitable (or not) is a segment of your business? Do you need to abandon certain types of work in order to capitalize on options that are performing better for you? Are your revenues accurately matched with the expenses that it takes to bring the product or service to market? These are the kinds of questions that Activity Based Costing (ABC) attempts to answer. When weighing make-or-buy (outsourcing) or product mix decisions, ABC is an extremely valuable analysis.
Do you prepare your own 1099's? Are you familiar with the rules this year - did they change? Do you have year-end reporting for regulatory purposes (i.e. licensing or insurance renewals)? Even if your staff handles most of your accounting needs, there are year-end procedures that can be confusing and time-consuming. Let us relieve the burden for you and your staff. W. S. Wray, CPA is a registered FIRE e-file agent with the IRS. The savings in mailing time/expense alone could be worth looking into letting us take over this task for you.