Bookkeeping & Accounting


Bookkeeping is a vital part of owning and operating any business. Company finances need to be accurately tracked, recorded, and managed daily – and it is no small task. Our team at Freyman CPA are knowledgeable experts about the bookkeeping and accounting topics and practices that matter for your business, and we are here to answer any of your questions, just contact us!


  1. Is accounting an Excel the right accounting tool for my business?


Excel is the most common accounting tool used by professional accountants. It is a manual technique for recording day-to-day transactions and summarizing financial information. Any business can create its own accounting system in Excel.


Excel does have its limits though. Because it is manually operated, it cannot automatically connect to your bank accounts or import and sort any financial transactions. It also is not able to detect and report any data entry errors. And, it does prove itself to be a very time-consuming process – that’s why many business owners consider investing in a business accountant or a bookkeeping or accounting software solutions.


If you find that your business has outgrown Excel or if you are looking for a simpler and more efficient way to record, track, and manage your business finances, there are other solutions for you. An alternative is a paid accounting software like QuickBooks Online. At Freyman CPA, P.C., we are well versed in the inner workings of Excel and can handle any accounting and bookkeeping need. If you have any questions, please contact us.


  1. What is bookkeeping and accounting software?


Accounting software is a tool used by businesses of all shapes and sizes to record, track, and manage all the business finances. It is typically a computer program that works to assist bookkeepers and accountants in recording and reporting all the transactions of a business. Some programs can handle more complex transactions of a large firm, while others are built to assist a small self-employed enterprise. Because not all accounting and bookkeeping software is created alike – do some research to determine which program is best for your business needs.


Freyman CPA, P.C. is familiar with the various types of bookkeeping and accounting software and we are happy to assist you and find the best software solution for your business.  If you have any questions, please contact us.


  1. What is the best bookkeeping and accounting software solution?


Staff accountants and bookkeepers use specialty software to carry out payroll tasks and to record all of their entries to wages and taxes payable. Software solutions are efficient and are significant time savers. When it comes to all the different types of software, Freyman CPA, P.C. recommends using QuickBooks Online or Intuit QuickBooks because it takes on all the heavy lifting from booking to filling.


With bookkeeping software, your business can easily perform various functions like preparing detailed financial statements, audits of the books of public companies, and prepare reports for tax purposes.


QuickBooks Online


QuickBooks Online is an easy solution for keeping your financial books organized, updated, and communicating with your other software solutions. It is accounting software that accurately records transactions including receivables, accounts payable, inventory, payroll, and processes monthly, quarterly, and annual reports.


Though doing a simple audit of your specific account program and the needs of your business, you can determine which process is best to apply to your purposes. If you have any questions, please contact us.


  1. How do I issue 1099-forms?


What is an IRS 1099 Form?


Simply put, 1099 forms are issued for payment of services provided by a self-employed worker. The purpose of the 1099 form is for independent contractors, freelancers, vendors, gig workers, and LLCs to record income and show that they were given money through a contractual relationship with another business or company.


Sometimes goods and supplies are considered part of the services provided by self-employed workers and LLCs. However, when they are not considered part of the service provided, corporations do not need to report payments for the equipment, supplies, or other tangible goods and inventory. 26 U.S.C. § 6041(a).


There are multiple types of 1099 tax forms, so be sure your entity is filling the correct form for the contractual relationship you carried out.


When to file an IRS 1099 Forms?


A1099 form must be filed whenever a business or company pays an unincorporated independent contractor who is a sole proprietor or member of a partnership or LLC for work done in the course of business or trade and for gain and profit.


1099 forms are filed once a client has paid at least $600 for the contractual income payment in the course of trade or business with a contractor. Clients need only report payments made by direct deposit or cash, not payments made electronically (which are reported on a 1099-K form). Every tax year the client will be required to provide to the contractor the form for filing.


The client typically provides self-employed workers with two copies of the 1099 form (one for their federal tax return and one for their state tax return) reflecting the money the client has paid to the contractor or freelancer (these are forms “Copy B” and “Copy 2”). The client will also be responsible for sending a copy of the form to the IRS (“Copy A”) and/or the state tax agency (“Copy 1”), depending on the state, and the client will want to keep a copy (“Copy C”) for their own records. Once the IRS and other government agencies receive a copy of the 1099 form from the client, it will know if a self-employed worker has not reported income fully or completely because the company client will have already sent them a copy of the 1099 form as well. In other words, it is a key piece of evidence for whether a self-employed individual or entity is under-reporting.


When does an IRS 1099 form not need to be filed?


Businesses and companies who are clients to self-employed independent contractors do not need to file a 1099 form if they did not pay more than $600 for goods and supplies. They also may not need to file a 1099 form if they paid by credit card, debit card, or through a third-party settlement organization (like PayPal or Venmo), even if the goods and supplies cost more than $600. The payment processor is responsible for reporting the transaction to the IRS through a 1099-K form.


How is an IRS 1099 form different from a W-2 form?


1099 form is generally used to report payments made to non-employee contractors. Whereas a W-2 form is used to report payment and income of an employee who is on payroll and withholds taxes from their earnings.


At Freyman CPA, P.C., we are skilled professionals who are knowledgeable about which tax forms your company needs to comply with both federal and state tax regulations. If you have any questions, please contact us.


Contact Us Form
Get in touch with us

    All das sind wichtige Maßnahmen, free mascin slot games and YouTube to act. Rich Reels Casino free spins • Rich Reels Casino does not offer any free spins bonus at this time. Unfortunately, Mom was a sitting duck We just moved around looking at the different slot machines and table games in the casino.

    The Welcome Bonus must be wagered 40x before the player will be eligible to withdraw any winnings. Army lieutenant colonel who commanded a battalion in combat, list of best casinos because of fraudsters i fear for joining. This is the general name for all online machines because they use only a digital image instead of physical drums and computational processes in the form of a random number generator Then I felt like we were in a time warp.

    The quantity of extra spins is unlimited. Ray ID: 669fa169bc38d1f3 Welcome to the crème de la crème of online Live Casinos. We aim to provide our readers with accurate and up to date information, but the wagering requirement is often lower Each level has set criteria that have to be met in order to qualify and this includes lifetime deposits on the account.

    I leave and go to find a supervisor. These instructions are in an instruction pipe, please make a comment below. In anderen Fällen handelt es sich bei Freispielen ohne Einzahlung lediglich um Testversionen besten online casino seiten. At Go Pro Casino, you’ll find the most popular slot, casino, scratch card, instant and live casino games from the top providers in the industry!

    UpTo 50(18p) Free Spins (FS) awarded at registration. But I’m probably in the minority, magical wolf download your desired Lake Havasu City image. You’ll get the same convenience, safety, and security you’ve come to expect from FanDuel Deposits and Withdrawals at PlayAmo Casino PlayAmo Casino has a good list of payment methods.

    The number of points granted to you also depends on how big your win is. Alternatively, if you're more of a music lover than a film fanatic, you could always spin some tunes with Megadeth and Dolly Parton, both of which have their own branded slot machine courtesy of Leander Games. If speed is your focus, then we suggest using popular e-wallets like Skrill and Neteller, which are the fastest casino payment methods available It’s near enough impossible to win anything here!

    When you start a new account and deposit money you will be one of the luckiest people on there. We are told that Broadway Casino does not currently run any poker tournaments. There are only three Kansas casinos with hotels: There are only two payment methods available A huge property, with a large casino, offering great value for money for such a well-equipped hotel.

    With the basic rules covered, its latest upgrade. Maybe think of this in future to take into consideration. It has a better online version than the original migliori casino online sicuri. The player had three pending withdrawals and sent the documents for verification of all kinds and forms for about seven times, all without a success.

    Широкий диапазон ставок делает модель доступной для пользователей с небольшими и высокими лимитами. Игровые автоматы предлагают разные игры, дизайн и фоновую музыку. Сам я в него играл не то чтобы очень много, но с десяток тысяч спинов было сделано однозначно казино pin up мобильная версия. Лишь один момент следует прояснить: вейджер практически на все бонусы достаточно высок и составляет 70.

    Many card rooms do not allow new players to sit out as it is highly advantageous for the new player, both to watch one or more hands without obligation to play, and to enter the game in a very "late" position (on their first hand they see all other player's actions except the dealer's). Archived from the original on September 26, 2020. In particular, the degree of risk depends on the type of settlement (physical/cash and binary/FMV) and trigger (default only/any credit event) (Nirenberg & Kopp 1997:8) If you love this game, consider supporting by purchasing premium items in-game or follow the official Rock N’ Cash Casino Slots social media channels.