Our Services
Paar Melis & Associates offers a comprehensive range of accounting and tax services designed to keep your auto repair shop in great financial shape.
Click on each service, or scroll down, for more information.
MONTHLY ACCOUNTING SERVICES
- Periodic phone meetings at your request to review numbers
- Mid-Year Tax Estimate Calculation to avoid tax “SURPRISES”
- Monthly visit to your QB file to fix and correct your data and entries as necessary
- Production of a Gross Profit Analysis
- Monthly “Report Card” on your business
- Monthly email with Report Card, P & L, GP Analysis and Balance Sheet
- Answers to QuickBooks, tax, and general accounting questions are just a phone call away.
BOOKKEEPING
We offer complete cloud-based bookkeeping as an add-on service to our monthly accounting services.
Bookkeeping can be tedious – Paar Melis can offer you up-to-date access to all your financials, even new transactions, ultimately saving you time and money.
Adding on bookkeeping ensures accuracy, timeliness of reports, and helps you be better prepared for tax season.
QUICKBOOKS TRAINING
We offer 1 on 1 training to our monthly clients, either at our office or remotely over the web, in blocks of hours. These are best used in 1-2 hour segments in order to get the most out of the training experience.
ONE-TIME QUICKBOOKS FILE CLEAN-UP FOR MONTHLY CLIENTS
- Correct and reclassify current year sales, cost of goods and payroll expenses for a useful profit and loss.
- Set up a memorized daily sales journal that insures all future data will go to the proper accounts
- Match your QuickBooks file to the prior year tax return
- Balance sheet corrections as necessary
Monthly Accounting Program Specifically Designed for Shop Owners
We work with over 600 shops on a monthly basis helping shop owners get a better understanding of their numbers and how to use them as a tool for their business. Most shop owners are not naturally interested in the financial aspect of their business but it is one of the most useful tools for them to work on their business.
WHY WE ARE DIFFERENT – HOW OUR PROGRAM WORKS
The way that our firm differs from a lot of accounting firms is that we find it extremely important to work with our clients throughout the year versus just at the end of the year. Most of our focus is on what we call our monthly clients. When we get a new monthly client we have a couple services that we provide that we call our onboarding services. These onboarding services are to ensure that the client is setup on their QuickBooks, that they are trained on how to use and keep the file looking good, and to get the historical information cleaned up and correct. Then once they are ready to go, they move into our monthly accounting services. At the end of the year, we obviously do income taxes as well.
STEP One of Our Program: ONBOARDING
A lot of times when we get a new client, they are not using QuickBooks at all or are not using it correctly. The first step for us is to get their file setup in a manner that gives them a useful tool to use as a business owner. This means to setup the chart of accounts so that they can quickly analyze and compare to their point of sale software to ensure accuracy. The next step is to clean up the QuickBooks file to ensure that the information that we are working with is correct and up to date. The final step is to go over all of this with the client so that they understand not only what we moved or changed but why. We then would go into training if necessary to ensure that the client has the proper knowledge and abilities to continue to keep the financials accurate. We then work with them on a monthly basis reviewing and preparing the financials which leads us to step two.
STEP Two of Our Program: MONTHLY ACCOUNTING SERVICES
Our monthly accounting services provide our clients with a dedicated team member for any questions regarding their Quickbooks, best practices or operational issues. We work with clients from coast to coast and can access everything that we need remotely. By being focused on our niche market we can provide un-paralleled insight into the intricacies of the automotive industry. Throughout the year not only are our team members making sure that our clients have timely and accurate financials, we are having periodic calls to not only review the financials, but educate the owner about what to look at and where to improve. Throughout the year we are also doing tax planning and tax minimization so that there are no end of year surprises. All of our clients know in the fall how much they will owe for the following year so that we have time to discuss options to lower the liability or setup a plan to save.
OTHER SERVICES
We have a number of add-on services that we offer to shop owners that are part of our monthly accounting program:
- QuickBooks Integration Help – We help clients ensure that their point of sale is communicating and integrating with their QuickBooks effectively
- QuickBooks Training – We sell blocks of training to help shop owners understand how to use their QuickBooks better and to go over best practices to save them time and money.
- QuickBooks Tailoring – Setup their chart of accounts so that it is a useful tool for them to make management decisions
- Valuations and Succession Planning – Assist in valuing the business and assist in transitioning the owner out. Sometimes this is a non-cash transaction to get shares of the business to family members, sometimes it is a partner buy-out, and also working with owners to sell to an outside party. By focusing on the automotive repair industry we have a keen understanding of how shops are bought, transferred and sold.
- Income Taxes – We handle end of year income taxes for clients all across the country
- Bookkeeping Services – We will maintain all bank and credit card accounts, ensuring 100% transaction entry and proper coding. We will prepare month-end reconciliation of all accounts, and enter data in QuickBooks for your POS/SMS system to ensure proper matching between the two platforms.