Accounts receivable management:
Billing and lease administration are time-consuming and confusing.
|Edwin C. Sigel, Ltd. maintains your lease receivable
records, including recording new leases, aging lease receivables, issuing monthly
invoices, recording collections and categorizing data collected for sales tax reporting.
We can also advise you regarding collection on past due accounts.
|Monthly lease income schedules: The time, money,
software and equipment you devote to tracking leases and preparing gross investment and
lease income schedules may not be the best use of your resources.
||Edwin C. Sigel, Ltd. maintains your gross investment,
residual and unearned revenue schedules. We will prepare the journal entries necessary
to record all new leases, lease revisions and terminations, and we can maintain your
general ledger or reconcile your in-house general ledger to our schedules.
|Financial statements and tax returns: The book/tax
differences inherent in lease accounting delay monthly financials and annual tax returns -
or make them appear inaccurate, and your accountant seems lost!
||Edwin C. Sigel, Ltd. has the specialized expertise
required to ensure timely, accurate statements and tax returns for the leasing industry.
We will provide schedules to support the amounts of revenue and depreciation for both
financial statements and income taxes, and we can help you prepare financial statements,
income tax schedules and income tax returns, including multiple state returns.
|Allocation of resources: Your company is not large
enough to cost-justify an in-house specialist to address the special challenges of lease
||Edwin C. Sigel, Ltd. can put the expertise you need right
at your fingertips, without inflating your payroll. By providing critical financial
management information in a timely fashion, we help you make sound decisions that optimize
the profitability of your lease portfolio.
|Sales taxes: With rates and filing deadlines varying
from one city, county or state to another, tracking these obligations can be a monthly
||Edwin C. Sigel, Ltd. prepares your sales tax returns and
provides detailed instructions to ensure timely filing. ECS can help prepare business
applications for new filing jurisdictions and update your staff on changes in tax rates
and filing requirements.
|Property taxes: When you're dealing with more than
8,000 taxing jurisdictions, maintaining records by location, keeping current with filing
requirements, and invoicing each lessee for the appropriate taxes can truly be a taxing
||Edwin C. Sigel, Ltd. uses state-of-the-art software to
maintain your fixed asset schedules and prepare tax returns by jurisdiction. ECS
tracks return due dates and deadlines for appealing assessed values, and our system also
allocates liabilities by lessee for accurate invoicing.