Description:
The practice is made up of general ledger write-up, accounts receivable, accounts payable (16%); payroll, including electronic time collection terminals & supplies (71%); business management services (13%). Currently providing all accounting services except for Income Tax Preparation. Payroll services account for the primary source of income for the business, which is a steady income throughout the year. At least ½ of the monthly income is automatically generated by the payroll software & the A/R usually pays within 20 days of billing. There is an opportunity to add tax preparation services and profit margins could be increased if the buyer wants to get involved in production and cut back on wage expenses.