Accounting Services Requirements
by Russell Barker
The accounting services department at Langdon and Company LLP utilizes a customized approach to serve many companies by providing varied aspects of a “backoffice” accounting department. We can perform the following functions: accounts receivable, accounts payable, invoicing, payroll and financial reporting. We communicate with the client to ensure that we have the needed documentation to properly record transactions. We process transactions on a monthly or quarterly basis for general ledger processing based on the clients’ needs. We also provide payroll services and offer direct deposit. To efficiently and effectively perform these functions, great communication is required. There is supporting information and documentation that is needed.
Typically, for a small business items such as bank statements, invoices, billing records, loan records, amortization schedules, credit card statements, etc. are required in order post to the general ledger. For payroll, employee information, hours and pay rate is needed. In order to properly maintain fixed asset records, invoices and applicable financing records are needed.
With the client providing all appropriate documentation on a monthly basis and L&C recording proper transactions, this will enable our year end process to be more efficient, precise and timely in order for the tax department prepare the clients tax returns in a timely fashion.
Russell Barker is a QuickBooks Pro Advisor in the Accounting Services department at Langdon & Company LLP. He specializes in periodic reviews for a variety of physician’s practices.
by Rachel Owens
According to an annual report, the Medicare Part A Trust Fund will be depleted by 2026. This is a two year improvement over last year’s forecast. The authors of the report credit the improvement to lower projected spending in most service categories, especially skilled nursing facilities.
Outcomes Research Trust Fund Fee to Common Types of Health Coverage or Arrangements