Accounting & Bookkeeping
Harvey Tax Pros accounting department consist of skilled financial, management, fund, entertainment and tax accountants whose focus is to maximize gross income by managing all accounts systematically and logically. We are dedicated professionals with belief that consistency and dedication build the most successful business partnerships. We are successful at expanding network connections, assisting with all aspects of financial management, and educating individuals and businesses on taxation and accounting.
What is Accounting?
Accounting can be defined as “the language of business.” It is also known as the process of identifying, measuring and communicating economic information to permit informed judgements and decisions by users of the information.
What is Bookkeeping?
Bookkeeping is an essential part of accounting. It is the recording of all the economic activity of an organization as individual transactions and summarizing them periodically. Accountants designed the accounting system that bookkeepers use. They establish the internal controls to protect resources, apply the principles of standard-setting organizations to the accounting records and prepare the financial statements, manage reports and tax returns based on that data.
What We Do
ü Oversee accounts payable and accounts receivable.
ü Track spending and create detailed reports.
ü Maintain and update financial reports.
ü Improve workflow processes and develop efficiency.
ü Provide clerical support to office staff.
ü Advise and work with companies on financial matters.
ü Assist with tax returns and other financial statements.
ü Review royalty statements, business plans, and analyze contracts.
ü Assist with applications for financing.
ü Verify expense and ensure collection of income.
ü Verify and examine company accounts.
We specialize in several branches of accounting
Financial Accounting—Periodic reporting of a company’s financial position and the results of operations through financial statements. Financial statements ordinarily include:
Statement of Cash Flows
Management Accounting—Emphasizes the preparation and analysis of accounting information within the organization. It includes designing and evaluating business processes, budgeting and forecasting, implementing and monitoring internal controls, and analyzing, synthesizing and aggregating information to help drive economic value.
Auditing—Examination and verification of company accounts and the firm’s system of internal control. Inspect the accounts of an entity and render an opinion on whether its statements conform to GAAP and present the financial position of the company and the results of operations. Evaluate the risks the organization faces with respect to governance, operations and information systems. It mandates to ensure:
a) Effective and efficient operations.
b) The reliability and integrity of financial and operational information.
c) Safeguarding of assets.
d) Compliance with laws, regulations, and contracts.
Tax Accounting—Involves the application of Internal Revenue Service (IRS) rules at the Federal level and state and city law for the payment of taxes at the local level. Assist with determining the accounting for income taxes for financial reporting purposes and help entities minimize their payments.
Fund Accounting—Used for nonprofit entities, including governments and not-for-profit corporations. Distinguishing between a general fund and special purpose funds. Helping nonprofits maintain control of its resources and measures its success in achieving its various missions.
Entertainment Accounting—full service accounting, tax preparation, tax compliance and consulting services to models, actors/actresses, recording artists, musicians, bands, recording labels and other music industry businesses. Helping entertainers with entertainment industry tax, royalty, and accounting issues. Working with the entertainers directly or with their agents, attorneys and personal managers. Our focus is on tax and accounting issues, royalties, recoupable expenses, tour budgeting, asset depreciation, contracts, and program budgeting.