Accounting & Bookkeeping Services
Book-Keeping or Accounting services is a must-have services for any business. Properly maintained Books generate the Financial Reports for the business. These Reports include, among others, General Ledger, Check Register, Profit and Loss Statement and Balance Sheet.
These reports provide the insight of the state of health of the business. They tell how the business is doing. Also if there is an audit from a government agency these Financial Reports are requested by the government agents. These reports are needed to prepare tax returns and to obtain financing.
Let us help you with this extremely necessary yet time-consuming responsibility. Let’s face it you are in a business; not to do Book-Keeping; our business is Book-Keeping.
Key Benefits of our Accounting or Book-Keeping services
- Peace of mind knowing the Books are done on time accurately
- Peace of mind knowing how your business is doing at all times
- Peace of mind knowing that you will be proactive in running your business. Because now you can identify trend developing in your business so you can take steps to address them.
- Peace of mind knowing that your taxes are in line with proper set of Books.
When you own a small business, it is imperative that you keep a good set of books that are consistently and contemporaneously updated. The tax man will not be satisfied with records that were thrown together at the end of a year.
Tax preparation is a key reason to maintain a detailed set of books, but there are other factors at play. It’s important to know how much money your business is bringing in along with how and where the money is being spent. Compare your results to industry standards to determine where you need to improve your business model. You should also compare this year’s sales and expenses to the prior year(s) to note your progress in the business world. Reviewing this year’s balance sheet accounts (cash, receivables, liabilities, etc.) to prior years will also help establish profit and sales goals.
Another reason to have current financial statements is to satisfy a lender who will certainly require them in order to evaluate your qualification for a business loan.
This means that your business needs to employ software more sophisticated than a simple spreadsheet format in order to obtain current as well as comparative data. This is where you have to decide whether you want to do the Book-Keeping (Accounting) yourself or give it to someone who does Book-Keeping for living.
With advancement of technology a new breed of service providers are crawling out of the dark and offer “online Book-Keeping” services. Small companies started the trend and now even big well-known names started offering this “services,” They claim to “Data Feed” from your bank directly into the accounting software!!
Going at it alone might save money at first, but if you aren’t qualified to do the work, you could end up landing in more trouble. Tasks such as posting payroll properly, tracking credit card usage and reconciling accounts can be tricky. Just knowing which account to post a particular transaction isn’t always clear.
We must admit that we have seen our share of inaccurate books over the years. Throwing data into QuickBooks manually or through bank Data Feed without knowing the key elements of the bookkeeping process can create some disastrous results. And those results may adversely affect your tax return. Not only that, but a subsequent IRS audit may result in additional tax liabilities as well as open up other years for examination.
Now comes the issue of Fees. One of the first few thoughts that cross a business owner’s mind is “CPAs are expensive.” Well, try us out – we bet you will be surprised. Doesn’t it make sense to buy the oil, the oil filter and oil change service from one place? Then why hire someone to do Books, another to do Payroll and yet someone else to prepare the Tax Return and then pay additional fees to another professional when there is an Audit?
We focus on the key services needed by a business owner and bundle up our fees. That is why we are both reasonable and affordable.
