Business Accounting | Homewood, IL

Business Services

From start-ups to established enterprises, businesses rely on accurate and insightful financial information to maintain profitability and capitalize on new opportunities. William A Lau & Co, Ltd.’s accounting services steer you closer to these goals with accurate record-keeping and reporting and support on financial issues such as initial accounting system setup, cost-containment, tax planning, investments, and employee benefit plans. Contact our office in Homewood, IL, to schedule an in-person or virtual consultation.

Our Accounting Services Include:

General ledger and financial statement preparation
Bookkeeping (monthly, quarterly, or annual)
Entity selection
Accounting system setup and support
Payroll processing and reporting
Cash flow budgeting and forecasting
Personal financial statements
Corporate tax planning and return preparation
Financing and loan packages

Assurance and Advisory Services

William A Lau & Co, Ltd. focuses on building close client relationships that add long-term value. This includes assuring the solidity of financial records, evaluating financial procedures, and working to produce strategies that help our clients face the myriad challenges of business planning and execution. Our clients benefit from objective analysis to assist in controlling costs, increasing efficiency, and implementing new technologies and procedures that take advantage of changes in the marketplace, accounting standards, and tax law. Our assurance services will improve information quality or its context, meaning more success for your business.

Our Assurance and Advisory Services Include:

Financial statements and payrolls
Entity selection and restructuring
Accounting software selection, implementation, and support
Financial projections and forecasts
Debt and finance advising
Mergers and acquisitions
Transaction structuring and negotiations
Business succession

Our Financial Statement Services Cover Three Levels of Assurance

William A Lau & Co, Ltd.’s financial statement services comprise all three levels of assurance depending on your company’s needs.

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Preparations

Preparation of financial statements applies when the accountant is engaged to prepare financial statements but is not engaged to perform an audit review or compilation on those statements. Statement preparations are a non-attestation service.

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Compilations

Compilations are usually requested for internal purposes and are based on information provided by a company’s management. They do not offer assurance but may involve some adjustment to accounting records.

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Reviews

Reviews provide limited assurance to outside interests and involve inquiries and analytical procedures that confirm financial statement matters and identify any items requiring further analysis. We perform reviews to ensure the integrity of your data.

Bookkeeping/Write-up

Accurate record-keeping is essential to a successful business, yet it can also be complicated and time-consuming. William A Lau & Co, Ltd. can help you with the organization and day-to-day tasks of bookkeeping so you can focus on your core business.

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Entity Selection and Restructuring

Your business entity significantly impacts your taxes and other liabilities. From your company’s inception through its growth and development, William A Lau & Co, Ltd. can advise you on choosing an entity type and later restructuring if advantageous. With our knowledge and expertise, you will constantly receive the most advantageous entity type for your business’s functions.

QuickBooks Accounting Help and Assistance

QuickBooks can provide useful and timely information through financial statements, reports, and graphs. We don’t just help you use the software; we help you use it more efficiently and effectively. William A Lau & Co, Ltd. offers the following solutions to help meet your QuickBooks needs:

Personal Training

We train you personally, one-on-one, or with several individuals within your organization at your company’s location.

Installation

We install QuickBooks on your stand-alone computer or in a network environment, in either single- or multi-user mode.

Setup

We assist new QuickBooks users with initial setup, including EasyStep Interview, Preferences, Lists, Customers, Vendors, Employees, Banking, and Reports. We also help experienced users manage their businesses more effectively by improving their current setup. Many users experience problems and cannot generate and track important information because of inadequate setup.

Support

Our QuickBooks support service can assist you with any installation, setup, or operation assistance. Our support is not limited to the software; we can provide accounting and payroll assistance.

Review

Our QuickBooks review service helps companies with human resources to perform daily accounting and payroll tasks. Still, an accounting and payroll expert is needed to review your transactions, accounts, and reports. This review ensures you receive timely, relevant, and reliable financial information. We also inform you of any corrections, adjustments, or reclassifications necessary to ensure that the financial information you receive reflects the correct financial condition of your business. Reviews may be conducted anytime, but monthly reviews provide up-to-date information and feedback about your business.

Payroll Services

William A Lau & Co, Ltd.’s payroll services can help you reduce administrative time by developing and implementing a computerized payroll system that facilitates processing, timely payment, and tax return preparation.

Cash Flow and Budgeting Analysis

Good cash management can improve a company’s liquidity, reduce costs, and increase profitability. William A Lau & Co, Ltd. can help you maintain optimal cash flow levels by tracking sources and uses, forecasting, and budgeting accordingly. To a business entity, cash flow can make or break the business’s ability to survive. We can help you analyze your spending and re-balance your budget and debts for an optimal cash flow to support your business’ success. This balance plan would be revisited when there were any significant changes in your business structure to ensure that you operate optimally. With our help and guidance, you will always be on top of your finances and ready for the future.

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Financial Projections and Forecasts

No one can predict the future perfectly, but we can all benefit from planning for it. William A Lau & Co, Ltd. combines expertise and experience with a gained understanding of your business to produce financial projections to help you manage your business plan and spending. Forecasting for the future is imperative to your company’s success. We make it a point to keep current with market trends and updates so your business can be prepared for what will come. Our work can range from top-level reports to detailed financial models, depending on your needs.

Mergers, Acquisitions, and Sales

Business transactions and transitions are complicated affairs, and whether you’re buying, selling, or considering a potential merger, William A Lau & Co, Ltd. can provide professional know-how to help you successfully structure and negotiate the deal. William A Lau & Co, Ltd. employs careful analysis and due diligence to determine a fair asking price, pinpoint the most favorable tax structures, evaluate financial and cash flow impact, and assess compatible business functions and tactics. Expanding or contracting your business is a huge undertaking. With our expert advice, you can make the right business decisions for your business to achieve optimum success.

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Debt and Finance Advising

Whether your needs are corporate or personal, William A Lau & Co, Ltd.’s professionals can assist you in sorting out the different options available for debt management and financing that will lower your payments and reduce the total amount of interest paid. Re-balancing your debts can also result in tax deduction savings. Even if you can handle the costs and the amounts of your current debts, our expertise may be able to save you money and lower your payments. Financing or re-financing debt is a complex and challenging process. Most businesses fail to get approved. We understand the process, and our success rate is excellent!

Call 708-957-4800 for more information about our business accounting services or to schedule a consultation.