Bookkeeping Services in Prescott, AZ
Florence Tax LLC provides bookkeeping services in Prescott, AZ, including ongoing monthly support and cleanup for books that have fallen behind.
We organize, reconcile, and maintain your records so you can better understand your business’s finances. With tax planning, tax preparation, and business advisory services also available, your books become a foundation for more informed decisions throughout the year.
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Reliable Records
Accurate financial informaton
you can count on.
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Enrolled Agent
Tax professional,
On your side.
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Virtual-First Process
Secure. Convenient. Personalized.
Prescott & Beyond
Supporting local businesses
and clients nationwide.
A clearer Financial Picture
Accurate Books Give You Better Information
Bookkeeping is the foundation of your business's financial information.
Every sale, expense, payment, purchase, loan, contribution, and distribution eventually becomes part of the financial picture of your business. When those transactions are accurately recorded and accounts are regularly reconciled, your financial statements become more useful.
When the books are incomplete or inaccurate, the opposite happens.
You may not know how profitable the business really is. Cash balances may not agree with the accounting records. Expenses may be incorrectly categorized. Business and personal activity may be difficult to distinguish. And when tax season arrives, additional work may be required before an accurate business tax return can be prepared.
Florence Tax helps business owners maintain organized financial records so the information is useful throughout the year—not simply when a tax return is due.
Transaction Categorization
Accurate recording of income and expenses.
Financial Statements
Profit & Loss, Balance Sheet, and more.
More Than Just Keeping the Books
Accurate records, reconciled accounts, and financial information that supports your business all year long.
Bank & Credit-Card Reconciliations
Accounts reconciled so your balances are reliable.
Bookkeeping Cleanup
Bring current and get our books back on track.
our bookkeeping services
General Ledger Maintenance
Organized records that reflect your business activity.
Close-of-Year Review
Review and adjustments to get ready for taxes.
Journal Entries & Adjustments
Proper entries and adjustments as needed.
Tax-Ready Records
Clean, organized books for easier tax preparation.
Bookkeeping from Where You Are Now
two ways we can help
Whether you need ongoing support or help getting back on track, we'll meet you where you are.
Accuracy beyond data entry
Why Bank & Credit-Card Reconciliations Matter
Entering transactions into accounting software doesn't necessarily mean the books are accurate.
One of the most important bookkeeping controls is reconciliation.
A reconciliation compares the activity and balance recorded in the accounting system with the corresponding bank or credit-card statement.
When the two don't agree, there may be a reason.
For example:
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A transaction may be missing.
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A transaction may have been entered twice.
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An amount may have been entered incorrectly.
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A payment may have been recorded in the wrong account.
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A deposit may not have been properly recorded.
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A transaction may have been entered in the wrong period.
Small discrepancies can become much harder to identify when they accumulate for months.
Regular reconciliation helps identify differences earlier and provides greater confidence that the balances reflected in the books are supported by the underlying accounts.
Bookkeeping isn't simply about recording that money entered or left a bank account.
How the transaction is recorded matters.
An equipment purchase isn't necessarily treated the same way as an ordinary office expense. A loan deposit isn't business revenue. A loan payment may contain both principal and interest. An owner's contribution isn't necessarily business income. A shareholder distribution isn't an operating expense.
Incorrect classifications can distort financial statements and create additional work during tax preparation.
Maintaining a more accurate general ledger helps provide a clearer picture of income, expenses, assets, liabilities, and owner activity.
And because Florence Tax also prepares business tax returns, bookkeeping can be maintained with an awareness of how accounting information ultimately connects with tax preparation.
Transaction Categorization Matters Too
HOW TRANSACTIONS ARE CLASSIFIED MATTERS
Your Books Should Help You Understand Your Business
TURNING FINANCIAL RECORDS INTO BUSINESS INSIGHT
Financial statements shouldn't exist solely because your tax professional asks for them at year-end. They can help you understand what's happening inside the business. Two of the most useful reports are the Profit & Loss Statement and the Balance Sheet. Together, these reports provide information that can support much more meaningful business conversations.
But the reports are only as reliable as the accounting records behind them.
Profit & Loss Statement
The Profit & Loss Statement—sometimes called an income statement—summarizes business income and expenses over a period of time.
It can help you see:
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How much revenue the business generated
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What the business spent
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How expenses are changing
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Whether the business generated a profit or loss
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How results compare with previous periods
The Balance Sheet provides a snapshot of the business's financial position at a particular point in time.
Depending on the business, it may include:
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Cash
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Accounts receivable
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Equipment and other assets
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Loans
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Credit-card balances
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Other liabilities
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Owner or shareholder equity
Balance Sheet
KEEPING YOUR BOOKS TAX-READY YEAR-ROUND
Your Books Should Be Ready Before Tax Season
For many business owners, bookkeeping becomes urgent when someone says:
"I need your books so I can prepare the tax return."
That's not the ideal time to discover that accounts haven't been reconciled, transactions are missing, or several months of activity still need to be categorized.
Maintaining the books throughout the year can make the tax-preparation process considerably more efficient.
Current books can provide better information about:
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Business income
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Deductible business expenses
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Assets purchased during the year
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Loans and other liabilities
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Owner contributions
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Shareholder or partner distributions
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Payroll-related accounting entries
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Other activity that may affect the tax return
Florence Tax provides both bookkeeping and business tax preparation, allowing the accounting records and tax return to be considered as parts of the same financial process.
From financial information to Informed Decisions
Bookkeeping Creates Information. Business Advisory Helps You Use It.
Having accurate financial statements is valuable.
Understanding what they're telling you can be even more valuable.
Suppose revenue increased 20%, but the business has less cash than it did a year ago.
Bookkeeping helps establish the numbers.
Business advisory asks why.
Did payroll increase? Were significant assets purchased? Did margins decline? Are customers taking longer to pay? Did the owner take larger distributions? Has the business taken on additional debt?
That's where bookkeeping and business advisory work together.
Bookkeeping provides reliable financial information.
Business advisory helps you interpret that information and use it when evaluating decisions.
If you want help understanding profitability, cash flow, financial trends, budgeting, forecasting, or a significant business decision, Florence Tax can move beyond maintaining the books and help you evaluate what the numbers may mean.
KNOW WHERE YOU STAND BEFORE YEAR-END
Better Books Make Better Tax Planning Possible
Tax planning is difficult when no one knows what the business has actually earned.
Consider a business owner who expects to earn approximately the same amount as last year.
Six months later, business income has increased significantly.
If the books are current, that change can be identified while there may still be time to evaluate estimated taxes and other planning considerations.
If the books aren't reviewed until tax season, the owner may not fully understand what happened until the year has already ended.
Current bookkeeping can give Florence Tax better information for evaluating issues such as:
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Changes in business profitability
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Estimated tax payments
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Owner compensation
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Retirement-plan considerations
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Significant business purchases
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Depreciation
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Year-end tax planning
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The relationship between business income and the owner's individual tax situation
Bookkeeping doesn't replace tax planning.
It provides better information for it.
GETTING YOUR BOOKS READY FOR YEAR-END
Year-End Accounting & Adjustments
Even businesses with generally organized books may require accounting adjustments before the financial records are ready for tax preparation.
Year-end review can help identify items that need attention before the books are finalized.
Depending on the business and its accounting records, this might involve reviewing:
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Account balances
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Asset purchases
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Loan activity
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Payroll-related entries
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Owner contributions and distributions
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Prior bookkeeping entries
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Other year-end adjustments
The objective is to provide a more accurate set of financial records for tax preparation and establish cleaner beginning balances for the next year.
For businesses already receiving ongoing bookkeeping services from Florence Tax, year-end accounting becomes part of a broader process rather than a once-a-year scramble to reconstruct the books.
Connecting Payroll to your books
Bookkeeping, Payroll Support & Your Accounting Records
Payroll activity needs to be properly reflected in a business's accounting records, but Florence Tax does not process payroll on behalf of clients.
Instead, Florence Tax offers payroll setup and support to help business owners establish and correctly configure their payroll process.
That can include helping make sure payroll is set up appropriately for the business and that the resulting payroll information can be coordinated with the accounting records.
This distinction is particularly important for businesses taxed as S corporations, where shareholder wages, payroll records, distributions, and business accounting can intersect.
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Connect
Provide secure access to your financial information.
A Simple, Secure, and Organized Process
A straightforward process to keep your books organized and useful.
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With ongoing bookkeeping, this becomes a repeatable process throughout the year rather than a project that begins when the tax deadline approaches.
Organize
Review and categorize your business transactions.
our bookkeeping process
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Reconcile
verify accounting data against official bank reports.
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Review
Identify and make necessary adjustments.
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Report
Deliver financial statements you can use throughout the year.
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Bookkeeping with a broader tax perspective
Bookkeeping With an
Enrolled Agent
Amber Rose Florence is an Enrolled Agent who provides bookkeeping, tax preparation, proactive tax planning, and business advisory services through Florence Tax LLC.
That combination gives bookkeeping an important context.
The books don't exist in isolation.
The financial information recorded today may eventually affect the business tax return. Changes in profitability may affect estimated taxes. Payroll and owner activity may affect both the books and tax reporting. Significant purchases may have accounting and tax consequences.
Florence Tax's bookkeeping approach helps maintain reliable accounting information while keeping those broader tax and financial connections in view.
LOCAL ROOTS. VIRTUAL CONVENIENCE.
Bookkeeping in Prescott & Surrounding Communities
Florence Tax LLC is based in Prescott, Arizona, and provides bookkeeping services for businesses in Prescott and surrounding communities, including Prescott Valley, Chino Valley, and Dewey-Humboldt.
Because Florence Tax operates primarily as a virtual practice, business owners can securely provide records and work with Florence Tax without repeatedly traveling to an office.
The virtual-first model also allows Florence Tax to work with businesses outside the immediate Prescott area when their bookkeeping and tax needs are a good fit for the practice.
Bookkeeping FAQs
Your Bookkeeping questions answered
Have questions about bookkeeping services, monthly financial records, or getting your books caught up? Explore answers to common questions about how Florence Tax helps business owners maintain organized, reliable financial records.
Florence Tax provides ongoing bookkeeping, transaction review and categorization, bank and credit-card reconciliations, general-ledger maintenance, journal entries and adjustments, cleanup and catch-up bookkeeping, year-end accounting review, and financial reporting.
Yes. Florence Tax provides ongoing bookkeeping for businesses that want their financial records maintained throughout the year.
Yes. Cleanup and catch-up bookkeeping is available for businesses whose accounting records have fallen behind or need correction. The amount of work required depends on the condition of the books and how much activity needs to be reviewed.
The first step is reviewing the condition of the existing accounting records and determining what periods need attention. Florence Tax can then determine the appropriate scope of the cleanup or catch-up work.
Bank reconciliations compare transactions and balances in the accounting records with the corresponding bank statements. This can help identify missing, duplicated, incorrectly recorded, or improperly timed transactions.
No. Florence Tax doesn't operate as an outsourced accounts-payable or accounts-receivable department. Bookkeeping services focus on maintaining, reconciling, reviewing, and reporting the business's accounting records.
Florence Tax does not process payroll on behalf of clients. The firm provides payroll setup and support, helping businesses establish and properly configure their payroll process.
Yes. Florence Tax provides business tax preparation for S corporations, partnerships, C corporations, sole proprietors, and LLCs under their applicable tax classifications.
Having bookkeeping and tax preparation coordinated through the same firm can help create continuity between the accounting records and tax return.
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Bookkeeping records and organizes the financial activity of the business.
Business advisory uses that information to help owners evaluate profitability, cash flow, financial trends, forecasts, and important business decisions.
Current accounting records provide better information about year-to-date business results. That information can be useful when evaluating estimated taxes, profitability changes, significant purchases, owner compensation, and other tax-planning considerations.
Bookkeeping fees depend on the amount and complexity of the work. Factors may include transaction volume, the number of bank and credit-card accounts, the condition of existing records, and how many months need to be brought up to date. Monthly bookkeeping and cleanup work may have different scopes. Florence Tax reviews your records and needs before discussing the appropriate work and fees.
No. Florence Tax is based in Prescott and serves businesses throughout the surrounding area, but its primarily virtual model also allows the firm to work with businesses elsewhere when their bookkeeping and tax needs are a good fit.
