One of the most time-consuming activities for a new entrepreneur, business owner or for a growing firm is to keep its books up-to-date with the constant stream of transactions made on a daily basis.
Most SMBs prefer to employ outsourced bookkeeping services rather than hire an in-house CPA as it saves them money and office space they would have to otherwise allocate.
If you are in New York and you are looking for some great bookkeeping firms, here’s a list of the Top New York City Bookkeeping Firms.
#1: Saigis — Best Ranked Firm
300 Park Avenue, Floor 12, New York, NY | www.saigis.com
Saigis is a New York based bookkeeping services firm that has a high quality accounting team work with clients across Quickbooks, Xero, and custom bookkeeping software. Their team is comprised of high quality bookkeepers locally and across the United States.
Their per-hour rates start at $125 and the packages start at $175 per month and they also offer personalized packages to fulfill their client’s specific needs.
Bookkeeping, Tax Returns, Tax Consulting, Accounting Services
#2: Trans America
353 Lexington Ave, Suite #1605, New York City / (646) 633–3292 / firstname.lastname@example.org
A professional bookkeeping firm that offers tax preparation services, payroll processing services and standard bookkeeping services for different industries and businesses including restaurants, financial services, advertising, retail shops, construction businesses, and independent professionals.
They have over 18 years of experience and they also offer CFO & CPA advise through their team of seasoned professionals.
Tax Returns, Bookkeeping Services, CFO & CPA Advisory Services.
#3: Weber, Shapiro & Company LLC
45 Broadway, 8th Floor, New York City / (201) 327–4000 / email@example.com
Led by its Managing Partner Mark S. Weber, a professional with more than 25 years of experience in the field, this firm is comprised by a staff of 25 accounting professionals and has offices in both New Jersey and New York City.
The firm offers a wide range of accounting services including bookkeeping services, tax preparation, and outsourced CFO services to a wide range of business in industries such as Retail/Wholesale, Professional Services, Media, and Telecommunications. They also advise clients on Mergers & Acquisitions and Financial & Estate Planning through their most recent venture NCM Capital Management LLC.
Accounting Services, Mergers & Acquisitions, Business Advisory.
#4: Manhattan Bookkeepers INC
14 Wall St, 20th Floor, New York City /(212) 390–1320 / firstname.lastname@example.org
This firm specializes in CFO services that include budgeting, forecasts, financial pitch decks, Equity and Debt Negotiations; Standard Bookkeeping services that include journal entries, financial reporting and bank conciliations; along with full-range Payroll Services for SMBs operating in industries such as Food & Beverages, Construction, Automotive, Clothing & Apparel and Computer Software.
Payroll Services, Bookkeeping Services, CFO Services.
#5: George Dimov, C.P.A.
(866) 336–8593 / email@example.com
Headed by George Dimov, a seasoned CPA with 12 years old of experience in the field, this small accounting firm located in New York City offers a wide range of accounting services including bookkeeping, along with business advisory and financial services that include M&A Consulting and Payroll & HR Outsourced Services.
Among his most specialized portfolio of services, you’ll find that he helps clients in filing insurance claims (with more than $110 million collected on Hurricane Sandy alone) and FEMA claims.
Insurance Claims, Bookkeeping Services, M&A Consulting, Accounting Services.
#6: Martin J. Levenson LLP
155 E 77th St., Ste 1A, New York City / (212) 998–5202 / firstname.lastname@example.org
Serving the New York and Tri-State Area, Martin J. Levenson specializes in helping startup businesses with its bookkeeping and tax needs.
Its Managing Partner, Martin Levenson has more than 40 years of experience in the accounting field including a long tenure at the highly reputed PWC.
They offer free consultation and they are available 7 days a week during tax season. One of their most distinctive services is the Business Startup package that offers new businesses incorporation services including EIN registration, foreign corporation registration and an accounts plan for the business to start-off its accounting records in an adequately organized way.
Incorporation Services, Bookkeeping, Tax Preparation.
Contact Information: 19 West 21 Street, 7th Floor, New York City (212) 243–5757 / email@example.com
With offices in New York and Portland, MBSata provides virtual and on-site accounting services for its clients through financial technologies that facilitate the accounting process. Led by Mark Gilbert, they are recognized as the largest independent bookkeeping firm of New York City (not affiliated with a CPA partner firm).
Their services include Accounting & Bookkeeping Advisory, Accounting Technology Integration, and Strategic Financial Management. One of the key features of MBSata’s services is that they promise to integrate their services with the accounting system of your choice, therefore, they can save clients thousands of dollars of costly transitional costs.
Accounting & Bookkeeping Services, Account Technology Integration, Accounting Systems.
What does a traditional Bookkeeping firm offer?
A bookkeeping firm is usually a small or mid-sized business that offers very specific services that fulfill the day-to-day accounting needs of regular business, mostly SMBs. Some of the most common services offered by these firms are:
A standard bookkeeping service does everything an accountant usually does. It includes activities such as journal entries, bank conciliations, general ledger entries and transaction classifications under the scheme of a previously conceived accounts.
Financial Statements & Reports
A bookkeeping firm can help you produce on-demand reports that summarize the transactions and balances of different accounts, their evolution over time, a summary of your top suppliers, vendors, and clients, along with many other well-presented financial information the business owner requires to make informed decisions. Additionally, the firm can also compile all the information necessary to produce a firm’s financial statements on a monthly, quarterly or yearly basis. These reports are usually unaudited.
If you are seeking financial projections to be prepared for investment, companies such as pro business plans can help you to prepare investment materials — as hiring a finance professional is often times different than a CPA which is better for historical complications.
With the information obtained from the business’ accounting systems, a bookkeeping firm can gather and organize the financial information in order to classify items accordingly to estimate the company’s tax bill. Additionally, these firms often provide advice on how to optimize a business’ financial structure to reduce its tax liability. Tax preparation services often cover income taxes, federal taxes, 1099 filings, estate taxes, industry-specific taxes, and sales taxes.
A bookkeeping firm usually partners with leading accounting software providers to offer their clients the possibility of setting up their business accounting software and they could also offer a service that involves designing the company’s accounting policies and procedures to comply with the best practices of the industry. This helps businesses in guaranteeing the accuracy of their financial information and the reports that are derived from it.
Given the fact that one of the most sensitive financial items of any SMB is its payroll, bookkeeping firms usually offer their clients a set of comprehensive payroll processing services that include the calculation of net payments, maintaining up-to-date individual employee accounts, compliance with local and federal job regulations and even payment processing services through certain systems that integrate easily with the firm’s or the client’s accounting systems. This facilitates the job of estimating weekly or monthly payrolls and it also saves the client money on HR staff.