Our Services
With a 60-year legacy in the Dearborn community, our team is committed to sharing our knowledge, experience, and expertise to help families and businesses achieve their accounting and financial goals year-round. Here is a breakdown the services our clients enjoy.
Accounting
Whether you're just starting out or looking for a new CPA for your long running business, Penn & Company is here to help. Here are just some of the accounting services we offer.
- Bookkeeping
- General ledger
- Bank reconciliation
- Payroll processing
- Corporate tax planning and filing
Are you using QuickBooks or want to? We have a QuickBooks Pro Advisor on staff that can help.
Tax
We love to see our clients in person. Come in for an appointment and chat face to face with your tax preparer.
Don’t worry if you don’t live locally. Utilizing video chat and our secure portal system, our clients have the convenience of having their taxes prepared by the same experienced professionals as they would here in the office.
Don't have time for an appointment? No problem. Drop your documents off at our drive-up window, upload them to the portal or stick them in the mail. We will prepare your return and call you with any questions.
Financial Services
Our financial service offering is all-encompassing, from investment management to insurance to retirement income planning. We'd love to sit down and talk with you about how we can best help you achieve your financial goals.
Bookkeeping
Bookkeeping is the recording and tracking of the financial transactions of a business. It is part of accounting and involves entering data into the company’s ledger and preparing financial statements. Bookkeeping focuses on the daily activity of the business and covers sales, revenue, purchases, and expenses.
General Ledger
A general ledger is a master accounting document that includes a business’s past credit and debit transactions and serves as the foundation of the double-entry accounting system. These transactions are organized by account, like assets, liabilities, expenses, and revenue. A general ledger serves as a foundation for a company’s financial record-keeping system for an accounting cycle. It’s a record of all of the company’s accounts, which could number in the hundreds, and the transactions within them.
Bank Reconciliation
Bank reconciliation is the process of comparing and adjusting the bank account balance in an entity’s books, to the balance reported by the financial institution in the bank statement. This process helps to identify and correct any differences or errors between the two balances. Bank reconciliation is the foundation of small-business accounting and bookkeeping. During the bank reconciliation process, you’ll compare your bank statements to your business’s financial records. You’ll note any differences between your business’s cash records and your bank’s records, then adjust your internal records to ensure their accuracy.
Payroll Processing
Payroll processing is the process of managing the payment of wages by a company to its employees. It involves calculating employee paychecks, withholding taxes and other deductions, and depositing the money into employee accounts. Payroll processing also includes keeping track of employee hours worked, overtime pay, and vacation time. The process can be done manually or through automated software. Payroll processing is an important part of any business as it ensures that employees are paid accurately and on time.
Corporate Tax Planning & Filing
Corporate tax planning and filing is the process of managing a company’s tax obligations. It involves developing strategies to minimize the amount of taxes paid by the company while remaining compliant with tax laws. Corporate tax planning and filing includes preparing and filing tax returns, calculating tax liabilities, and ensuring that all tax payments are made on time. The process can be complex and requires a thorough understanding of tax laws and regulations.
Wealth Management
Our wealth management services are focused on the holistic financial picture of our clients. We look into your:
- Investment Management
- Financial Planning
- Tax Planning
- Estate Planning
We’d Love To Hear From You
Feel free to reach out to our customer service for any questions or concerns.
