Bookkeeping Services for Businesses
It is not uncommon for business owners to find themselves playing catch-up to keep their accounting records current. When you have fallen too far behind it takes more time to record your data and thus comes with an increased fee. We want to reduce the burden to you for maintaining your accounting systems. Along the way our tax accountants will identify tax ideas right in your data and provide planning advice. This is a double win: lower fees and reduced taxes.
- Quickbooks management
- Cash flow management
- Financial reporting
- External CFO services
- Trusted by over 500 clients
- An individual approach
- Putting relationships first
- Decades of experience
There are so many different versions of quickbooks that are all programmed in a slightly different way. It is here where we can be quite effective helping you select the correct version that meets your needs and objectives. From there, you will need training and direction on how you are best to utilize quickbooks. Having accounting software like quickbooks (which most of our clients use) does not replace the minimum accounting knowledge needed to operate this software. This is where we are most effective: providing training, customizing reports and answering questions you have on a regular basis. By having timely and regular accounting data, you will benefit your financial picture of your company and reduce your tax liability.
Cash Flow Management
Cash Flow is king. Cash Flow management is as much about timing as it is about amounts. Poor cash flow can lead to missed opportunities for lowering operating costs or missed purchase discounts. Remember, bankruptcy is more a symptom of a lack of cash rather than a lack of profits – which is one of the major reasons why a successful company can go out of business.
Fast growth can stress your business with added costs of new employees, inventory, equipment and reduced cash flow . Being aware of the factors that affect cash flow is important. We’ll help you identify cash shortages before they occur, and we’ll show you opportunities to save money with proper planning. For example, you have great sales and no cash. This may be because all of your cash is stuck in accounts receivable.
A timely and accurate set of financial statements is important to make informed decisions and reduce income taxes. The knowledge of how to read financials is one of the most important skill-sets a business owner can have. While most are familiar with the basic statements – the balance sheet and income statement – they often lack a good way to compare and interpret them.
When our team of experts compile your financial statements, we put your data in a format that is useful for decision making. Our tax accountants then use this insight to provide you with useful management and tax planning advice.
External CFO Services
There comes a time during the growth of a business when a significant amount of financial oversight is necessary to maintain and expand the operation. However, when small businesses reach this point, they may not be ready to hire a full time employee.
We have developed an External CFO program that can give you the confidence in the reliability of your financial information and the internal control systems of your business. Our experts will help provide you with a clear focus on developing new business strategies, advise you on strategic decisions using your financial data, and help create plans for your journey ahead. Having a good filing system means you can find the data later, in one place (for tax audit purposes it is usually three years from now). There are so many other internal controls that many business owners fail to consider. They can range from employee manuals to proper insurance coverage. Others include organization charts and having employees take a vacation. If you can help it, don’t let your employee’s sign any checks or they could become personally liable for the business payroll taxes if the business fails to pay them. We can help you build a solid system to support your business operations.
Not Sure Where to Start?
Get A Consultation
Are you interested in learning more about how we can help guide your tax situation, but not sure where to begin? We can help. Our team of specialists can answer any questions you might have and help you get started.
Latest Blog & Articles
Evolving technology has created the need for advanced regulations regarding the safeguarding of customer data. In 2021, the Federal Trade...
Tax practitioners are required by both the AICPA Code of Professional Conduct and Treasury Circular 230, Regulations Governing Practice...
Provide clarity and avoid scope creep with a carefully drafted engagement letter This discussion focuses on how and why to use engagement...