"Making Windows of Opportunity"
KENNETT SQUARE
P: 610-444-1215
F: 610-444-1635
115 South Broad Street
Kennett Square, PA 19348
WILMINGTON
P: 302-478-9515
F: 302-478-0262
3801 Kennett Pike
Building C, Ste. 100
Greenville, DE 19807

Accounting

For companies needing assistance with day to day accounting, payroll and tax compliance, we utilize the latest technology to provide you with cost effective services. We have QuickBooks Pro Advisors on staff and partner with a QuickBooks hosting firm that allows our professionals and clients to collaborate and keep the your accounting systems current.  This provides you with current and relevant financial information about your business. We can then help you to interpret the financial results and make informed business decisions. 

Assurance:

Our team of Certified Public Accountants will provide you with the proper level of financial statement assurance to meet your business and financing needs. We provide several different levels of Assurance:

  • Compilation: The lowest level of service with respect to financial statements is a compilation engagement. When issuing compiled financial statements, we attach a report on our firm’s letterhead stating that a compilation was performed in accordance with the AICPA professional standards. In order to issue a compilation report on the financial statements we must establish and document an understanding of the services to be provided and have an understanding of the accounting principles of your entity’s industry and certain matters related to your industry. We must read the financial statements and determine if they appear to be appropriate in form and free from obvious material error. A compilation is significantly less in scope than an audit or review.
  • Review: In the performance of a review engagement, we accumulate review evidence to obtain a limited level of assurance that there are no material modifications that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. We design and perform review procedures based upon our understanding of your industry, knowledge of you as our client, and with an awareness of the risk of unknowingly failing to modify the review report on financial statements that are materially misstated. We perform analytical procedures to the financial statements and make inquiries of management and, when appropriate, other company personnel.  Additionally we read the financial statements to consider whether they appear to be in compliance with the applicable financial reporting framework and obtain representations from management for all financial statements and periods covered by the review report.
  • Audit: An Audit is the highest level of assurance, the objective of which is to express an opinion as to the fair presentation of the financial position and operating results of your company. Audits are often required by lenders, bonding companies, investors, or business owners seeking an independent opinion on their financial statements.

Forecasts and Projections:

We can assist you in producing forecasted or projected financial statements for a new business venture or an existing business exploring an additional investment, new product or service, or other changes that will impact the company’s operating results.  We work closely with our clients to define the variables and expectations and to present the resulting forecasts and projections in a readily understandable format. This type of engagement can be extremely valuable, not only in making informed business decisions, but also in attaining necessary financing.

QuickBooks Implementation, Training and Consulting:

QuickBooks is a powerful business tool that has become the dominant accounting solution for small businesses.  When properly configured and used, QuickBooks can simplify your recordkeeping and provide you with timely financial information to run your business.  At Fenstermacher & Company, we have two Certified QuickBooks Pro Advisors to help you to choose the proper solution for your business and implement it correctly, avoiding costly corrections. We have partnered with NovelASPect, a QuickBooks Hosting company founded by a CPA, to provide our clients with enterprise level security, backup and remote access to their QuickBooks Records.  You can choose to grant our accounting professionals the ability to access your live QuickBooks files. This means no more need to enter journal entries after the fact.  Changes that we make at year-end or during periodic reviews are posted to the live company file, meaning your accounting records are always up to date.

Payroll Services:

We can provide you with professional payroll services, including multi-state, direct deposit, web-based time entry, and professional reporting. As with all of our services, you will have access to our professionals to answer questions and resolve issues.