Client Services

CLIENT SERVICES


Our firm offers a wide range of services to our individual and business clients. Being a relatively small firm, we are able to offer our clients personalized quality service. Below, we have listed the services that we offer to our clients along with a brief description.

As the list below is by no means all-inclusive, please feel free to inquire about a service if you do not see it listed.

(Click service title for details.)

Accounting Services

Accounting & Bookkeeping Services

At Henry, Raymond & Thompson, LLC we like to think that bookkeeping is a very important means to an end that is, growing the business. The bookkeeping function the proper and timely recording of financial transactions is a major part of the accounting process as a whole. Accounting, in general, uses bookkeeping information in order to make business decisions. Accounting should be meaningful and timely. Henry, Raymond & Thompson, LLC is in the business of helping clients understand and use accounting and bookkeeping information to help grow their businesses.

Henry, Raymond & Thompson provides regular (weekly, bi-weekly, monthly) bookkeeping assistance based on your individual or company needs. Our services are often on-site, but we also service clients remotely. We also offer temporary, transitional bookkeeping services during vacation, leave of absence or other employee absences. Our services include:

Transitional Assistance (Short- and long-term)
Bank Reconciliations
Accounts Payable
Accounts Receivable
Payroll
Filing

Transitional Assistance (Short- and long-term)
The difference between HR&T and the typical temporary placement agency is, in one word, consistency. We strive to build long-term relationships with our clients. This consistency allows us to build trust and a solid understanding of the client's business transactions. Unlike the temporary placement agency, we frequently cross-train our staff (to learn about other clients' work) in order to ensure that we can substitute when one of our staff is out on vacation, for instance.

Bank Reconciliations
Our bank reconciliation services generally fall into three primary categories:
1. monthly, ongoing;
2. backlog bank reconciliations;
3. troubleshooting, one-time reconciliations

Accounts Payable
Vendor maintenance, bill entry and payments are some of the most common of our bookkeeping services. We use QuickBooks, but also have experience with many other software's as well; we are able to do this because our staff has vast bookkeeping and accounting experience and is capable of learning new software rapidly.

Accounts Receivable
Client maintenance, invoice entry (billing), cash receipts, and collections are more of our most common bookkeeping services. Our core software packages are the same as with our Accounts Payable.

Payroll
We can help train staff to set-up and maintain in-house payroll. For those who use an outside payroll service, we can assist you with setting up your payroll entries for each payroll period. Also, payroll reconciliations are a very common, and important, service that we provide to many clients on a regular basis (usually quarterly and yearly to ensure financial statement accuracy). The payroll reconciliation ensures that the wage information in the accounting system matches what has been reported on government forms such as 941 and W2, for example.

Filing
Proper filing is crucial to maintaining a detailed audit trail, which is a key component to internal controls. We provide ongoing and transitional assistance with regular accounting filing tasks such as check filing, invoice and bill filing, project record management, and other functions.

Understanding Bookkeeping
Setting up a new accounting system or modifying an existing one requires expertise going far beyond basic transactional knowledge. Businesses must determine at the outset who the users of the accounting information will be; will they be internal managers, tax preparers, owners, stockholders or creditors? There are distinct differences between internal and external reporting requirements only experienced accounting staff will understand.

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Bookkeeping/Write-Up

Meaningful, well-organized financial records ensure that your business operations will run more efficiently on a daily basis and are the foundation of a successful business. Our qualified staff can assist you with the day-to-day tasks associated with bookkeeping.

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Audit and Attest

Audit and Attest

Our audits have always done more than just verify the facts - we've also given our clients a blueprint for the future.

We're trained to review findings and identify opportunities for improvements, from waste reduction to payment cycle adjustments and more. Every audit complies with professional standards, and is geared toward uncovering your business's strengths in order to achieve maximum efficiency.

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Attestation Services

From financial forecasts and projections to reporting on internal controls over financial reporting, you often have assurance needs that don't require an audit of financial statements. We help our clients meet all their assurance needs through our attest services.

We examine, review or apply agreed-upon procedures to subject matter, or an assertion about the subject matter, which is the responsibility of another party.

We utilize a dedicated team of experienced staff to ensure that your services are completed efficiently and effectively.

To learn more about our attest services, contact us.

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Tax Planning & Compliance

Complex tax environments call for comprehensive solutions that consider both the present and the future; that's exactly what we provide. We look at the big picture, targeting opportunities that will benefit all aspects of your business and personal financial affairs and scanning the horizon for strategies that promote growth. From multi-state tax planning to a comprehensive review of available tax credits we seek to generate tax savings so you can invest your cash where it matters most, in your business. Our tax specialists have the breadth and depth of federal tax, state and local tax, family wealth planning, and compensation and benefits expertise to meet your compliance and specialty tax service needs. For more information about how we can help you grow please contact us.

Compliance - Tax Return Preparation

  • Individual tax returns
  • Corporate tax returns
  • Partnership tax returns
  • Estate and trust tax returns
  • Gift tax returns

    Planning
  • Transactional planning
  • Year-end planning
·  Estate and business succession planning

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Business Advisory Services

Business Advisory

As a business, you face such pressures as reducing and controlling operating costs, growing revenues, and maintaining complex customer relationships. Our business advisors are with you every step of the way to help you address these concerns. You can count on our expertise to review findings and identify opportunities for improvement, from waste reduction to payment cycles and more.

We specialize in:

* Developing Organization Structure
* Aligning the Management Team
* Managing Elements Critical to Success
* Profitability Analysis
* Strategic Planning
* Business Operations
* Logistics Systems
* Business Process Reengineering & Change Management
* Evaluation & Assessment
* Design & Implementation Management
* Activity Based Costing/Activity Based Management

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Estate and Trust Planning

Estate and Trust Planning

At Henry, Raymond & Thompson we recognize that as an individual you need innovative answers, not boilerplate solutions, to meet your personal wealth needs. From estate planning to tax and financial planning, our wealth preservation and management services provide an integrated and holistic approach that generates tax-efficient solutions to protect your assets throughout your lifetime and that of your heirs.

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Governmental and Municipal

Governmental and Municipal

Henry, Raymond &Thompson, LLC has extensive experience in serving many types of government entities and municipalities throughout Connecticut. We provide:

Financial audits
Performance audits
Circular A-133 audits
Accounting and financial services

We understand the economics, operations and trends affecting government entities, and we devote significant time to training and research activities.

Our perspective is that of a knowledgeable independent auditor who can relate to the unique aspects of government entities and their interrelationships with similar organizations and the private sector. This perspective, coupled with our working experience with government entities, enables us to provide efficient and cost-effective audits of financial statements and compliance audits for our government and municipal clients.

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Best Practices for Local Governments

We help local governments identify, evaluate and implement the best practices identified in the Government Finance Officers Association (GFOA) publication "Recommended Practices for State and Local Governments." The publication is a collection of recommended practices formally approved by the Executive Board of the GFOA.

Our approach to helping you develop best practices includes the following processes:

* Help management select which GFOA best practices will be included within the scope of the engagement
* Develop background considerations related to the government's current practices
* Summarize the GFOA recommendation(s) related to each selected best practice area
* Consider GFOA recommendations in relation to operating processes, focusing on the practicality of implementing the recommendations
* Develop recommendations for implementation by the government based on a comparison with its current practice
* Hold a conference with management personnel to discuss our initial recommendations
* Present our recommendations orally to management, board, etc.
* Present an outline or letter that summarizes our recommendations

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Financial Audits

Our financial audit is designed to provide an opinion as to whether the financial statements are fairly presented in all material respects. The audit is performed in accordance with professional standards developed by the American Institute of Certified Public Accountants and Government Auditing Standards, issued by the Comptroller General of the United States. We tailor specific procedures to fit the circumstances of each organization's audit engagement.

Auditor independence is vital to the users of audited financial statements. We actively enforce both professional and internal standards of independence and monitor our activities and relationships to assure that the standards are maintained.

All Henry, Raymond & Thompson audits of government entity financial statements are subject to internal quality control procedures that, at a minimum, include a review of the statements by a qualified professional who is independent of the personnel who actually perform and supervise the audit. In addition, our quality control procedures are reviewed internally annually and are subjected to peer review by an independent public accounting firm every third year. These focus specifically on the procedures we use to audit financial statements in addition to our overall audit procedures and policies.

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Internal Audit Program Development and Evaluation

Government entity staff frequently lack the time to develop specific internal audit programs for financial operations, accounting and administrative control systems, statutory requirements and contractual compliance matters. In addition, they may not have the time, training or work experience necessary to plan controls in complex data processing systems or specific operational areas.

We can design methodologies for your staff or work with you to develop these safeguard programs. The results of either approach are internal audit programs designed to meet the specific needs of your organization.

We can also help audit committees evaluate the work of internal auditors. Our involvement may take the form of an evaluation of the internal auditor's work or an evaluation of the internal audit program. Specific improvements in the audit program are identified during the evaluation and communicated to management to help improve an entities internal controls, policies and procedures.

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Single Audits (OMB Circular A-133)

We can help you discharge your obligations under the Single Audit Act and OMB Circular No. A-133, as amended. We are familiar not only with the requirements of all applicable laws, regulations and OMB Circulars, but also with the funding sources of your programs.

We integrate these audit procedures with those required as part of your financial statement audit. This not only assures you that an adequate audit is performed but also that cost is minimized by avoiding duplication and overlapping audit procedures.
To perform efficient and effective organization-wide audits, we maintain channels of communication with officials of federal departments, train our audit staff and have developed special tools to use in organization-wide audits.

An important phase of an organization-wide audit is the planning and preparation. We work with you to ensure the audit procedures are performed efficiently and to minimize disruptions to your staff. We also work with you to meet your compliance reporting requirements and develop a plan of corrective action for any deficiencies observed during the audit. Our audit quality control procedures apply to our single audit engagements.

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Industries

Industries

Henry, Raymond & Thompson, LLC offers audit, tax, consulting and wealth management services to a wide variety of sectors, including individuals, privately held businesses, governmentals and not-for-profit organizations. Whether you are a start-up, a manufacturer looking to expand, or a not-for-profit organization looking for guidance on the latest rules and regulations, our professionals can take their real world experiences and translate these into strategies that help you achieve your objectives. With Henry, Raymond & Thompson, LLC you have multi-talented teams serving the needs of clients within diverse industries.

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Benefit Plans

The Internal Revenue Service (IRS) and the Department of Labor (DOL) are placing greater scrutiny on benefit plan financial statements and are imposing hefty penalties on plan administrators who neglect to file or file deficient audit reports. Employee benefit plans are an important part of our practice and our qualified team of experts add value to your employee benefit plan audit. Unlike other firms, our staff is trained in the intricacies of the requirements for ERISA audits, so you don't have to worry about training or learning curves.

As part of our commitment to delivering value, we provide efficient, effective audits with minimum disruption to your daily operations so that you can continue to operate your business. During the audit process, we do more than fulfill a legal necessity. We look for potential risks that can trigger IRS audits, DOL exams, financial penalties and problems that prevent the plan from operating correctly.

However, it is our level of service that truly separates Henry, Raymond & Thompson, LLC from the competition. As our client, you're our priority and you'll know it at every touch point. From working with people who understand your business to professionals who answers calls and questions promptly and knowledgably, we build relationships that you can count on to build your business.

You can count on us to:

Perform compliance reviews of defined benefit plans, defined contribution plans, and ESOPs
Perform Full and Limited Scope Audits of defined benefit plans, defined contribution plans, and ESOPs
Prepare IRS (Form 5500) Filings
Assist with Plan Accounting and Financial Statement Preparation
Provide Information Systems Support

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Privately Held Businesses

Henry, Raymond & Thompson's privately held business clients include small and mid-sized companies in a wide range of industries, from technology to healthcare or banking to services. During our years of practice, we have become known for building close working relationships with clients, as we provide tax, audit, consulting and wealth management services.

When working with you, Henry, Raymond & Thompson's professionals become part of your community and team, serving as a trusted component in the financial management and planning focus of your business. We regularly advise and consult with innovative and growing companies involved in technology, manufacturing and distribution, financial, construction and professional services.

Our commercial service group provides a full array of services to help you solve problems and take advantage of opportunities critical to your success. We assist you in finding cost effective ways of implementing technology to improve operations and profitability and maintain optimum inventory levels.

To help you expand in a global tax environment, we off a range of services. We help you deal with multistate and how to use governmental subsidies and incentives to reduce the cost of expanding into other markets. We also can help you use R&D credits to bring new products to market more efficiently and competitively.

As business advisors, we look at what drives the profitability of your business. We consider not only how to manage margins but we also identify problems and opportunities in the areas of personnel productivity, expense efficiency and asset management and liquidity.

From helping companies take a fresh look at what drives their profitability to developing road maps for using technology as a competitive advantage, we provide services to help you succeed.

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Management Consulting

Management Consulting

We can advise you on everything from strategic issues to choosing and implementing the best technology system for your business. Our consulting services include: employee benefits, executive compensation and systems reviews. All of our consultants are highly trained professionals determined to help you achieve, build upon and maintain success.

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Manufacturing, Distribution and Retail

Manufacturing, Distribution and Retail

Our manufacturing, distribution and retail service group provides a full array of services to help you solve problems and take advantage of opportunities critical to your success.

We assist you in finding cost effective ways of implementing technology to improve operations and profitability and maintain optimum inventory levels.

To help you expand in a global tax environment, we off a range of services. We help you deal with multistate and foreign taxes and how to use foreign tax credits and governmental subsidies and incentives to reduce the cost of expanding into other markets. We also can help you use R&D credits to bring new products to market more efficiently and competitively.

As business advisors, we look at what drives the profitability of your business. We consider not only how to manage margins but we also identify problems and opportunities in the areas of personnel productivity, expense efficiency and asset management and liquidity.

From helping companies take a fresh look at what drives their profitability to developing road maps for using technology as a competitive advantage, we provide services to help manufacturers like you succeed.

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Not-For-Profit Services

Not-For-Profit Services

In today's ever-changing environment, exempt organizations are confronted with many new and difficult challenges. Henry, Raymond & Thompson, LLC, with its unique combination of experience, resources, personalized attention and customized solutions, is committed to working with not-for-profit organizations to overcome those challenges and meet their goals.

Our Not-For-Profit Group has been working with tax exempt organizations since our founding. Ever since those early days we have been the "go to" accounting firm offering our technical skills as well as sound guidance. Our partners and staff are active throughout the community and use this experience and knowledge to provide outstanding attention and service to all of our nonprofit clients.

We are proud of our service on boards, our high rate of volunteerism, and community service that are part of our firm's DNA. Whether you are a foundation, social service or other charitable organization, private school, museum or other type of tax exempt organization, we promise you our commitment to provide you with the personal service, outstanding knowledge of what is required and the caring nature you are looking for and deserve. After all, we have a track record and reputation to uphold, not only serving the not-for-profit community, but also being an active participant in it.

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Real Estate & Construction

Real Estate & Construction

Since our inception, Henry, Raymond & Thompson, LLC has been serving the construction and real estate industries. Our professionals understand the challenges that you face, such as the economy's affect on your profit margins, rising insurance rates, systems security risks, and staying ahead of your competition.

From long-term strategic planning to tax planning services, we have the dedicated resources to deliver construction and real estate businesses the full range of professional services that you require. We believe the Henry, Raymond & Thompson difference is the level of service, attention and solutions that we provide to you and this important sector of our community.

Real Estate
Relevant experience, reliability, and personal high-level attention these are just some of the qualities of our real estate services.

Speculation, risk and fluctuation are common in the real estate industry. Henry, Raymond & Thompson understands the impact of speculation, risk and fluctuation on your business and is able to provide you with the practical solutions you need to minimize your risk and maximize opportunities. Our experience and expertise in real estate allows us to serve you better in developing your projects and business portfolio.

Construction
We act as business advisors to our construction clients, looking at what drives the profitability of their businesses.

Critical components of profitability within the construction industry are local market knowledge, land negotiations, subcontractor relationships, and infrastructure capital. To remain competitive you need to focus on these factors and we can help you achieve these goals.

We work closely with project owners, contractors, designers, lenders, end-users and other stakeholders to develop customized solutions to meet the challenges that you face in an increasingly competitive, global and changing industry.

You can expect our team to perform the traditional assurance and tax compliance services. You can also expect professionals thoroughly able to advise you on everything from strategic issues to choosing and implementing the best technology system for your business. Since we have resources dedicated to the construction industry, you can be assured that we are familiar with your industry and can offer proactive advice.

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Tax Planning & Compliance

Tax Planning & Compliance

Complex tax environments call for comprehensive solutions that consider both the present and the future; that's exactly what we provide. We look at the big picture, targeting opportunities that will benefit all aspects of your business and personal financial affairs and scanning the horizon for strategies that promote growth. From multi-state tax planning to a comprehensive review of available tax credits we seek to generate tax savings so you can invest your cash where it matters most, in your business. Our tax specialists have the breadth and depth of federal tax, state and local tax, family wealth planning, and compensation and benefits expertise to meet your compliance and specialty tax service needs. For more information about how we can help you grow please contact us.

Compliance - Tax Return Preparation

  • Individual tax returns
  • Corporate tax returns
  • Partnership tax returns
  • Estate and trust tax returns
  • Gift tax returns

    Planning
  • Transactional planning
  • Year-end planning
·  Estate and business succession planning

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Additional Services

Additional Services

Additional Services

  • QuickBooks installation, training and consulting
  • Business Valuations
  • Management reporting
·  Estate Administration & Probate Court filings

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