Inventories are helpful for depreciation schedule communications with your CPA and invaluable for 571-L filings required to determine unsecured property taxes that your business will owe.
But truly tracking this information can be useful for your internal purposes as well – to make sure you know what you own, manage your capital budget, and anticipate when computers and equipment may need to be replaced. Why get caught spending money you didn’t expect? Instead, you can create an overall plan to replace computers, for example, every 3-4 years. And if you get your planning right, you can rotate your replacements so they don’t all hit at once.
Another example of how a compliance tool can help you better manage your business!
At ZümiFi, we sweat the details, so you don’t have to!
Update your physical inventory
ZümiFi’s ongoing bookkeeping services manage your financial activity with a complete turnkey approach. We deliver solid books that provide you with key information in real-time, accessible anywhere, anytime, on any device.
We create a custom combination of online, cloud-based tools, including QuickBooks Online, Bill.com, Box.com, and other tools in unique combinations to leverage technology truly. This enables us to fully automate your system, eliminate data entry, and simplify and facilitate your bookkeeping. And we ensure accuracy and completeness so that every dollar counts.
The Scope of ZümiFi’s Bookkeeping Services:
Accounts Payable Services – Recording, tracking, and paying vendor bills.
Accounts Receivable Services – Recording and tracking customer invoices and payments.
Payroll Services – Processing payroll per each client’s instructions regarding amounts to pay; processing and filing appropriate payroll taxes and tax forms.
Reconciliations – Reviewing and balancing bank and credit card transactions; notifying clients of any discrepancies and resolving discrepancies per clients’ instructions when appropriate.
Reporting – Generating financial reports based on the collected data.