Bookkeeping Resources

Helpful forms and documents in one place

Whether you’re looking for the latest Federal W-4 or information on health insurance, we’ve compiled a list of helpful forms, resources, and frequently asked questions. Select a category from the blocks below.

Bookkeeping Forms

Payroll Forms

Tax Forms

Bookkeeping Forms

Bookkeeping FAQs

What is the Income Statement?

The Income Statement is often referred to as the company profit and loss statement. Unlike the Balance Sheet, which shows balances of accounts on a specific date, the Income Statement shows the company revenue and expenses for a specific period of time. Expenses are subtracted from revenue to arrive at the company net income, which is also referred to as the bottom line.

What is the Balance Sheet?

The Balance Sheet summarizes assets, liabilities, and stockholders’ equity at a specific date. The Balance sheet follows this basic formula: Assets = Liabilities + Equity. Assets are the things that the company owns and the things that are owed to the company. Liabilities are the things that the company owes. Equity is the amount that the owner invested into the company and earnings that have been retained in the company.

When should you use form W-9?

A W-9 should be sent to subcontractors or outside services used by your company before releasing a payment for services rendered to that company. Use a form W-9 to request the taxpayer identification number of a U.S. person and to request certain certifications and claims for exemption. For federal purposes, a U.S. person includes, but is not limited to, an individual, a partnership, a company, a corporation, an estate, a domestic trust, or an association.

What is “accrual” vs. “cash” accounting?

In the easiest kind of company, say a lawn mowing business, all transactions are in cash. Income is recorded when payment is received. Expenses are recorded when expenses are paid.

However, most companies use and grant credit. Furniture dealers often offer several months before payment needs to be received from consumers. Similarly, many companies purchase from suppliers using credit. The income statement is based on the “accrual” principle, i.e., a sale (or cost of sale) should be recorded when the item is shipped. An expense is recognized when a purchase is made (not necessarily when the purchase has been paid for in cash). When using the accrual method, a company tracks on its balance sheet what is owed to them (sold but not paid for) in an accounts receivable account and they also track what they owe to suppliers (purchased but not paid for) in an accounts payable account.

What is the purpose of having financial statements?

The objective of financial statements is to provide information about the financial position, performance and changes in financial position of an enterprise that is useful to a wide range of users in making economic decisions. Financial statements are used for making business decisions, preparing tax forms, applying for loans, and many other purposes.

How long should I keep my accounting records?

It is recommended that annual financial statements be kept permanently. Bank statements, bank reconciliations, inventory records, loan payment schedules, sales records, accounts payable, accounts receivable, and canceled checks should be kept for a minimum of 7 years. Depreciation schedules, fixed asset purchases, and year-end general ledgers should be kept permanently.

Payroll Forms

Payroll FAQs

How long should I keep my payroll records?

Payroll records and employment tax records should be kept for a minimum of 7 years. Employee files should be kept for a minimum of 7 years after the relationship with the employee has been terminated. Benefit plan and pension plan records should be kept permanently.

How Much Can My Employees Contribute to 401(k) Plans in 2019?

In 2019, the amount participants can elect to contribute on a tax deferred basis to their 401(k) plans is $19,000. This is also the amount for 403(b) plans and most 457 plans.

Tax Services Forms

Tax Services FAQs

When can I expect my PA refund?

If you filed electronically (, TeleFile, e-file or PC file), it takes about 4 weeks to process a refund. If you filed a paper tax return, it takes about 8 to 10 weeks to process a refund.

After your refund is processed, it takes approximately 3 to 4 weeks for your overpayment to be mailed or direct deposited.

All returns, regardless of how they are filed, are processed in the order in which they are received. Sometimes, the department will need to verify information reported on your return by requesting additional information, this will delay the processing of your return.

You may check on the status of your refund using one of the following methods:

  1. Call the automated toll-free Information Line at 1-888-PA TAXES;
  2. Use the following website where you can check on the status online:
  3. Call the Taxpayer Service & Information Center at 717-787-8201 between the hours of 7:30 a.m. and 5:00 p.m.

Where’s my federal refund?

Go to the Where’s My Refund? online tool to check the status of your refund.

The “Where’s My Refund” tool will usually have information about your refund 72 hours after IRS acknowledges receipt of your e-filed return, or three to four weeks after mailing a paper return. Check back weekly on Wednesdays for any updates to your refund information.

When are quarterly estimated tax payments due?

For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you do not pay enough tax by the due date of each of the payment periods, you may be charged a penalty even if you are due a refund when you file your income tax return.

If a payment is mailed, the date of the U.S. postmark is considered the date of payment. The payment periods and due dates for estimated tax payments are as follows:

Jan. 11– March 31, Due Date: April 15
April 1 – May 31, Due Date: June 15
June 1 – August 31, Due Date: September 15
Sept. 1 – Dec. 31, Due Date: January 15

If the due date for making an estimated tax payment falls on a Saturday, Sunday, or legal holiday, the payment will be on time if you make it on the next day that is not a Saturday, Sunday, or legal holiday.

How should I notify the IRS of my address change?

There are several ways to notify the IRS of an address change:

Tax Return: Update your address in the appropriate boxes on your tax return

Form 8822: Submit Form 8822, Change of Address, to request an address change

Written Notification: Mail a signed written statement to an appropriate Service address informing the Service that you wish that the address of record changed to a new address. Generally, the appropriate Service address is the campus where you filed your last return. In addition to the new address, this notification must contain the taxpayer’s full name and old address as well as the taxpayer’s social security number, individual taxpayer identification number, or employer identification number.

What are the current standard mileage rates?

65 cents per mile for business purposes

22 cents per mile for medical or moving purposes

14 cents per mile driven in service of charitable organizations

How long should I keep my old tax returns?

All tax returns and supporting tax documents should be kept for a minimum of 7 years per the Internal Revenue Service. However, complex tax returns should be kept permanently.

Working Together

Interested in working together? Simply schedule a call to discuss your unique needs.

Schedule a Call

Back to Top