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Small Business Accounting Package

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NEW JERSEY SMALL BUSINESS ACCOUNTING FORMS PACKAGE

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© 2016 - U.S. Legal Forms, Inc.

U.S. Legal Forms™ thanks you for your purchase of a Specialty Forms Package. This package is an important tool to help you with operating and maintaining a small business, including bookkeeping and accounting forms. These forms may be adapted to suit your particular business or situation.

TABLE OF CONTENTS

I. Form List with descriptions

II. Descriptions of Forms

III. Tips on Completing the Forms

IV. Disclaimer

I. FORM LIST

With your Small Business Accounting Package, you will find many of the essential legal forms that are helpful in running your small business.

Included in your package are the following forms:

1. Profit and Loss Statement

2. Aging Accounts Payable form

3. Balance Sheet Deposit

4. Cash Disbursements and Receipts form

5. Check Request form

6. Daily Accounts Receivables form

7. Depreciation Schedule

8. Invoice

9. Petty Cash form

10. Purchase Order

11. Purchasing Cost Estimate

12. Records Management form

13. Yearly Expenses form

14. Yearly Expenses form by Quarter

II. DESCRIPTIONS OF FORMS

Profit and Loss Statement - This is a general Statement of Profits and Losses for a company. It lists in detail, all profits, or gains, as well as all losses the business may have suffered.

Aging Accounts Payable form - This form assists you in tracking the age of accounts payable. It is a table already formatted to clearly display account information.

Balance Sheet Deposit - This form is used to compare deposit entries between months and years.

Cash Disbursements and Receipts form - This form assists you in recording disbursements made to particular employees or other individuals.

Check Request - This standard form is used by employees or other individuals to request a company check for a specified purpose.

Daily Accounts Receivable - This form assists you in tracking the accounts receivable as they are paid daily. It is a table already formatted to clearly display account information.

Depreciation Schedule - This form assists you in tracking the value of business equipment and other assets. It is a table to record information about purchase costs, estimated life, and other information about the assets.

Invoice - This form is used to bill an outside party for goods or services rendered by your business.

Petty Cash Form - This form allows you to provide a receipt of petty cash given to a particular individual or employee.

Purchase Order - This form is used to complete an order of goods for the business and the location where the goods are to be sent.

Purchasing Cost Estimate - This form details the estimated cost of goods based upon unit price, quantity, and special manufacturing instructions. This is designed mainly for a print shop but may be modified to suit your needs.

Records Management - This form allows you to record and track the status of a particular project.

Yearly Expenses Report - This form summarizes the total business expenses for the year.

Yearly Expenses by Quarter - This form assists you in tracking business related expenses each quarter of the year.

III. TIPS ON COMPLETING THE FORMS

The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand.

It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible.

By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner.

IV. DISCLAIMER

These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the subject state. All information and Forms are subject to this Disclaimer:

All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem, we suggest that you consult an attorney in your state. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney.

THESE MATERIALS ARE PROVIDED “AS IS” WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

If you need additional information, please visit and look up forms by subject matter. You may also wish to visit our legal definitions page at

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What the Small Business Accounting Package Is

The Small Business Accounting Package is a bundled set of core financial documents and templates used to organize bookkeeping, invoicing, payroll records, expense reports, and basic tax reporting for a small enterprise. It typically combines standard forms, a chart of accounts template, month-end closing checklists, reconciliations, and a simple internal controls checklist so non-specialist staff can maintain consistent records. The package is designed to support accurate bookkeeping, simplify year-end preparation, and provide a single reference for required fields and supporting documentation used by accountants or tax preparers.

Why a Standardized Accounting Package Matters

A standardized Small Business Accounting Package reduces errors, speeds bookkeeping, and creates a consistent audit trail for compliance. It clarifies required fields, aligns records with IRS and state reporting needs, and supports defensible retention and eDiscovery practices under relevant federal rules such as the ESIGN Act and IRS recordkeeping guidelines.

Why a Standardized Accounting Package Matters

Who Typically Prepares or Uses This Package

Small businesses, bookkeepers, and outsourced accounting providers commonly assemble and maintain the package to ensure consistent financial records and easier tax filing.

  • Small business owners managing day-to-day transactions who need consistent records for taxes and lending.
  • Bookkeepers and part-time accountants preparing monthly closes and reconciliations for multiple clients.
  • Payroll providers or HR administrators compiling wage records, tax withholdings, and employee documentation.

Properly prepared packages reduce review time for external accountants and help meet statutory retention and reporting obligations.

Who Signs and Authors the Package

Owner / CEO

A small business owner or chief executive signs to confirm the accuracy of submitted records and to accept responsibility for tax filings and financial representations. Their signature typically appears on authorization, payroll approvals, and bank reconciliation attestations.

Bookkeeper / Controller

An assigned bookkeeper or controller prepares and certifies the accounting package contents, documents supporting schedules, and reconciliations. They provide the operational detail required by external accountants and maintain the audit trail for each monthly close.

Essential Data Elements and Security Considerations

Company ID: Legal business name and EIN
Reporting Period: Start and end dates (MM/DD/YYYY)
Chart of Accounts: Account numbers and descriptions
Supporting Documents: Invoices, receipts, bank statements
Access Controls: Role-based permissions applied
Encryption: TLS 1.2/1.3 in transit; AES-256 at rest

Key Risks and Potential Penalties

Incorrect 1099s: Penalties under IRC §6721
Missing W-2s: Late-filing penalties mirror 1099s
I-9 Errors: DHS fines $281–$2,789 per violation
Backup Withholding: 24% withholding for bad TINs
Fraud Exposure: Unlimited penalties for intentional disregard
HIPAA Breach: Civil penalties, 45 CFR §164 subparts

Common Preparation Pitfalls to Avoid

  • Failing to reconcile bank statements monthly creates cumulative errors that complicate tax reporting and increases audit risk.
  • Using inconsistent vendor names or missing TINs on supplier records can trigger backup withholding and information return penalties.
  • Keeping paper-only receipts without indexed electronic copies makes production slow and increases the chance of lost supporting documentation.
  • Not documenting accounting policy choices (e.g., revenue recognition, expense capitalization) leads to inconsistent entries across reporting periods.

Step-by-Step: Assemble the Accounting Package

Follow these sequential steps to compile a complete Small Business Accounting Package for a reporting period.

  • 01
    Gather Records: Collect bank statements, credit card statements, and receipts.
  • 02
    Reconcile: Reconcile bank and credit card accounts to general ledger.
  • 03
    Prepare Schedules: Create A/R, A/P, payroll, and fixed-asset schedules.
  • 04
    Attach Support: Link invoices, contracts, and receipts to schedule lines.

Amendments and Revision Workflow

When corrections are needed, follow a controlled revision process to preserve the audit trail and ensure accurate filing.

01

Identify Error:

Document source and nature of the error.
02

Prepare Adjustment:

Create journal entry with explanation.
03

Approve Change:

Obtain owner or controller sign-off.
04

Record Revision:

Post adjustment to ledger and schedules.
05

Retain Evidence:

Attach original and corrected documents.
06

Notify Stakeholders:

Inform tax preparer or payroll provider if needed.

Digital Workflow Settings for Online Completion

Recommended online workflow settings to streamline completion, eSigning, and record retention for the package.

Field Configuration
Signer Order Sequential routing: preparer → controller → owner
Authentication Email + SMS code for external signers
Audit Trail Enable detailed logs with timestamps and IPs
Retention Set automatic archival to secure storage for 7+ years

Technical Options for eSubmission and Signing

Choose a platform that supports secure upload, role-based access, audit trails, and the document formats you use.

  • File Formats: PDF, DOCX, and XLSX supported
  • Integrations: Connectors for QuickBooks and NetSuite
  • Authentication: Email, SMS, and SSO options

Confirm platform compliance (ESIGN/UETA) and industry-specific needs such as HIPAA when handling protected health information.

Typical eSigning Flow for the Package

A standard digital signing flow minimizes friction while preserving intent, consent, attribution, and record retention required by law.

  • Upload Document: Sender uploads the accounting package files to the platform.
  • Place Fields: Add signature, date, and initial fields where required.
  • Send to Signers: Route using sequential or parallel signing as configured.
  • Archive Signed Copy: Capture certificate of completion and store in secure archive.

Important Filing Deadlines and Timing

Key federal tax and reporting deadlines affect documents commonly included in an accounting package; missing dates can incur penalties.

W-2 / 1099-NEC to Recipients:

Jan 31

1099-MISC Paper to IRS:

Feb 28

1099-MISC Electronic to IRS:

Mar 31

Individual Income Tax (Form 1040):

April 15

I-9 Retention Rule:

3 years after hire or 1 year after termination

Key Milestones in Preparing a Reporting-Period Package

A milestone sequence helps track preparer tasks, reviewer sign-offs, and final archiving for each reporting period.

01

Collect Transactions

Gather receipts, invoices, and bank activity for the period.

02

Reconcile Accounts

Match ledger balances to bank and card statements.

03

Finalize Schedules

Prepare A/P, A/R, payroll, and fixed-asset schedules.

04

Obtain Approvals

Controller and owner sign to attest to accuracy.

Core Components to Include in a Professional Package

A complete Small Business Accounting Package contains specific schedules and controls that support reliable reporting and easy review.

Trial Balance

A current trial balance listing all ledger accounts with balances to support reconciliations and financial statement preparation.

Bank Reconciliations

Reconciled bank and credit card statements with documentation of outstanding items and adjustments.

Accounts Receivable

A detailed aging schedule by customer showing invoices, payments, and allowances for doubtful accounts.

Accounts Payable

Vendor aging with supporting invoices and payment authorization documentation for the period.

Payroll Summary

Gross wages, tax withholdings, employer taxes, and supporting payroll registers and deposit records.

Fixed Assets

Asset listing with acquisition dates, cost, accumulated depreciation, and disposal history.

Supporting Documents You Should Attach

Attach representative supporting documents to give reviewers immediate context and evidence for recorded balances.

Invoices

Customer and vendor invoices supporting revenue and expense transactions, including dates and amounts.

Bank Statements

Monthly statements for all business accounts with reconciliations and copies of cleared checks or e-payments.

Contracts

Relevant sales, lease, loan, and service contracts that affect revenue recognition or liabilities.

Payroll Records

Timesheets, paystubs, tax deposits, and benefits documentation supporting payroll totals.

Real-World Example Scenarios

Practical examples show how the package is used across common small-business situations.

Local Retailer

A small retail store consolidates POS receipts and supplier invoices into a monthly package to speed month-end reconciliations.

  • They attach daily sales reports and bank deposits.
  • The organized package reduced their accountant's review time and improved accuracy for quarterly estimated tax payments by clarifying revenue timing and sales tax liabilities.

Consulting Firm

An independent consulting practice uses the package to compile invoices, expense reports, and contract retainers for each client.

  • They include signed statements of work and timesheets.
  • By standardizing supporting schedules and using digital signatures with an audit trail, they simplified billing disputes and provided clear documentation for year-end tax preparation.

Practical Tips for Accurate, Efficient Packages

Adopt consistent templates, label supporting files clearly, and maintain an audit trail to reduce reviewer time and regulatory risk.

Use Standardized Templates
Create fixed templates for schedules and reconciliations so each period follows the same structure and reviewers know where to look.
Index Supporting Documents
Number or tag supporting documents to match schedule line items, making it faster to verify amounts during reviews or audits.
Keep an Audit Trail
Record who prepared, reviewed, and approved each item with timestamps; maintain electronic logs for e-signed approvals.
Validate Tax IDs
Confirm vendor and contractor TINs early to avoid backup withholding and late information return penalties.

How This Package Differs From a Full Audit File

Compare the Small Business Accounting Package to a formal audit file to clarify scope and expected supporting documentation.

Criteria Accounting Package Audit File
Purpose operational reporting independent assurance
Depth summary schedules detailed working papers
External Review occasional accountant review required external auditor
Cost lower higher

eSignature Vendor Pricing Snapshot for Accounting Workflows

Common vendor plans and key differences for eSignature usage in accounting packages; signNow appears first per comparative guidance.

signNow DocuSign Adobe Sign PandaDoc HelloSign
Starting Price $8/user/mo $15/user/mo $14/user/mo $19/user/mo $15/user/mo
Free Trial 7-day free trial Varies by plan Varies by plan Varies by plan Varies by plan
Bulk Send Yes (Premium tier) Yes Yes Yes Varies
Audit Trail Yes Yes Yes Yes Yes
HIPAA Compliant Yes (BAA available) Yes (BAA available) Yes (BAA available) No No

Frequently Asked Questions and Troubleshooting

Answers to common questions about preparing, signing, and retaining a Small Business Accounting Package.


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