Accounting Firm Pekin IL

A Guide to Services from a Local Accounting Firm in Pekin IL

There comes a time in the life of every small business when you want to explore options for services from an accounting firm in Pekin IL. Martin Hood accountants have provided excellent service and practical advice for 35 years to businesses like yours. We offer flexible solutions that deliver just the right amount of services that you need. With our firm, you can choose from the following services.

• Tax planning
• Tax preparation
• Bookkeeping
• Business accounting
• Payroll
• Employee benefit plans
• Business advisory services
• Virtual CFO services
• Assurance

Our outsourced accounting services help businesses overcome common problems and transform goals into action plans for the future. We provide accurate and timely information that businesses can use to take advantage of strategic growth opportunities while minimizing risks. Contact us today to learn more about services from our accounting firm in Pekin IL.

What Does a Bookkeeper Do?

Many people use the terms bookkeeping and accounting interchangeably. However, bookkeeping and accounting are not identical. Their differences could make a significant impact on your business when you are seeking outsourced services. So, we wanted to inform your about the roles of bookkeeping and accounting. Bookkeepers provide the following services.

• Recording financial transactions
• Maintaining updated records
• Generating financial information reports
• Accounting software management
• Issuance of cash receipts
• Monthly reconciliation of financial data
• Payroll service

What Does an Accountant Do?

Now that you understand what a bookkeeper does, it is time to look at the difference an accountant can provide. An accountant goes beyond transaction record keeping and data compilation. They help businesses use financial information to make important decisions about their finances. Therefore, accountants provide these additional duties.

• Budget creation
• Preparation of business financial statements
• Analysis of operational costs
• Income tax return management
• Forecasting revenue streams
• Analysis of the impact of important financial decisions
• Establishing business practices for better efficiency

What Service Is Right for My Business?

The needs of your business play an important role in choosing the services you need from our accounting firm in Pekin IL. Here are a few tips that can help you choose whether you need bookkeeping or accounting services based on what your business can use.

Bookkeeping

• Management of customer payment and billings
• Staying current with preparing and sending out invoices
• Keeping the checkbook balanced on a regular basis
• Meeting annual tax requirements about payroll

Accounting

• Assistance with scaling your business within 3 to 6 months
• Deciphering what your financial information means for the future of the business
• Assistance with figuring out why sales are increasing but profits are not
• Services catered for businesses with more than 40 employees

Contact Our Accounting Firm in Pekin IL

Martin Hood offers qualified experts when you need services from a top accounting firm in Pekin IL. Contact us now to request a consultation or get answers to your questions. Give our accountants a call at 309-220-5519 to learn more about our services and how we can help your business.