INTRODUCTION
Mercurius is an accounting agency that came into contact with a client who had developed internet and telecommunications software. The said client wanted bookkeeping services, payroll along with Delaware and California filings, and maintenance of returns. In the initial stage of the agreement, we reviewed Franchise Tax Returns along with amending, if required, filing for 2019-2020. Given the relatively small scale of transactions, we suggest the client use QuickBooks Desktop (QBD) to maintain and manage books effectively.
DISCUSSION
Our client developed an internet and telecommunications software company. The idea was based on a new business model that combines blockchain and mesh technology to address the low internet penetration in rural areas. The company’s answer to this issue was a state-of-the-art cyber security product, which forms the basis for 6G network. The client’s company offers:
- A wide range of products that includes a mesh Wi-Fi system with a high data rate,
- Blockchain and digital currency to decentralize the network,
- Competitively priced virtual smart device,
- Distributed AI system for user profiling, and
- Media delivery system based on profiling.
The main goal of the business model is to decentralize the network, reduce device costs, and integrate the broadcasting and telecommunications industries.
REQUIREMENT
Our client needed a skilled and experienced accountant for filing returns and managing payroll with bookkeeping. They were looking for a competent company/agency that would fulfill an extensive range of essential tasks like bookkeeping, franchise tax returns, and annual tax returns for the accounting year 2019-2020. To handle their crucial and complex accounting task, their main objective was to seek a sole solution provider who turned out to be a reliable and trustworthy alliance. They wanted a service provider who would proficiently handle their diverse financial obligations in an organized manner. Meeting these needs became a top priority for the client, emphasizing the importance of finding a capable and dependable company.
SOLUTION
That is when the client found Mercurius; a team of competent and talented members, who are specifically trained in managing payroll along with Delaware and California filings and maintenance of returns. Our team makes sure that the client’s requirements and tasks are done with great precision to avoid any errors.
To provide our newly joined client with desired services and live up to the expectations, we carefully planned our approach. Initially, we established the books from scratch and started with organizing the accounts. In this, we arranged the charts of accounts and categorized incomes, expenses, assets, and liabilities in a systematic order. Further, it was important to close the books on a timely basis to avoid any last-minute hassle or mistakes.
While going through the accounts, we figured that no amendments were required for the 2019 franchise tax return, but the 2020 return needed amending. So, we took the required steps. All these accounts were maintained on QuickBooks Desktop (QBD), as the scale of transactions is relatively small. QBD proved to be the solution that met all the requirements expected by the client for managing books easily.
Our high-quality work and prompt responses made our clients happy and satisfied. They appreciated the burden we took off their shoulders and eased any pain they had for filing returns. This allowed them to focus on their business better, in a carefree manner.
CONCLUSION
Mercurius aligned with a client who sought a dependable team to assist them through bookkeeping services along with payroll management. With the help of our expert team, we delivered our clients to their satisfaction. We made sure that each task was done without any causality. To ensure that, we approached the matter at hand in a systematic manner.
