LIABILITY Definition

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LIABILITY, in accounting, is a loan, expense, or any other form of claim on the assets of an entity that must be paid or otherwise honored by that entity.

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FINANCIAL PLANNER is an investment professional who assists individuals with long- and short-term financial goals.

WRITE-UP SERVICE is the provisioning of all reporting requirements of bookkeeping and accounting services. The following is a non-exhaustive list of reporting services provided:

  • 1099s report preparation for subcontractors
  • Bank account reconciliation
  • Check coding
  • Fixed asset schedules
  • Maintenance of general ledger
  • Payroll deposit calculations
  • Payroll tax filings
  • Personal property tax returns
  • Preparation of internal financial statements

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