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Business Accounting Services

For Everything your Business Needs to Prosper

You've worked hard to build your business. Trust the Commonwealth Business Services team to take care of your business bookkeeping needs from our offices in Alexandria, VA, and Fredericksburg, VA. Let us handle the finances while you continue to manage the company you've built. Our complete range of business accounting services includes:

  • Bookkeeping - From our office or your location, we'll maintain an accurate and well-organized record of all your financial transactions.
  • Monthly General Ledger Reconciliations - Using the best accounting software in the business along with their established expertise, our team will keep your accounts balanced.
  • Financial Statement Preparation - When you need to report results to management or a board of directors, Commonwealth will draw on their intimate knowledge of your business operations to establish assets, liabilities, and net worth.
  • Tax Planning & Preparation - We work with you to prepare intelligently, report accurately, and minimize your company's tax burden.
  • Incorporation Filing - Our team will help you select a name, check for name availability, and advise as to the feasibility of registering your business name as a federal or state trademark.
  • Accounting System Setup & Implementation - We will draw upon our knowledge of your specific business needs to determine the most effective accounting system, and then integrate it into your operation. Possible options include QuickBooks, Solomon, Great Plains, and NPS Pro.
  • Internal Control Analysis & Implementation - Taking into account specific risks to your business, we will install a system that ensures reliable financial reporting, addresses achievement of operational goals, and complies with all applicable laws and regulations.
  • Accounts Payable and Accounts Receivable Processing - Preparing your income and expenditure instruments is a key part of keeping your business moving forward.
  • Payroll - Managing employee wages and salaries, including bonuses and deductions, is an ongoing obligation for any business. Commonwealth can handle it for you.
  • Cash Flow Analysis/Cash Management - Don't let inaccurate cash flow expectations hamper your everyday business operations. The cash flow analysis experts at Commonwealth will work to ensure the financial health of your business by planning ahead and helping you to manage your funds to best effect.
  • Financial Forecasting & Budgeting - We will help you estimate your future business performance as a means of optimizing cash flow reserves. We may not be wizards, but we know how to analyze historical accounting records.
  • Fixed Asset Management - Assessing your company's fixed assets will assist in maintaining an accurate valuation of your buildings, fixtures, vehicles, machinery, and other depreciable goods.
  • CFO and Controller Outsourcing - If it makes financial sense for your company to outsource its financial management responsibilities, Commonwealth will help you make that determination and then help you to find the best external candidate for the job.
  • State & Local Tax Exposure Analysis - Commonwealth will assist your company In preparing ahead for tax liabilities, thus minimizing assessments along with any penalties and interest that might be involved.