Blog | Tax Accounting and Bookkeeping Service

4 Trends in Accounting That Will Benefit Small Businesses

From large corporations to small businesses, having a solid accounting department is key to a successful company. If you can’t effectively managing your financial activities, a wide variety of things can go wrong — some of which can be catastrophic to your business as a whole. From tax preparation to bookkeeping, all of these activities are vital to your bottom-line, including the satisfaction of both your clients and your employees. While you think these factors play a role only with large corporations, smalls businesses too need effective accounting services. But while these small businesses usually include small teams with little resources, it’s important to stay on top of the latest accounting trends to ensure you’re set for the present and geared for the future. In this post, we’ll discuss 4 accounting trends that can lead to many benefits for your small business. Automated Processes One very important accounting trend to keep your eye on involves...

6 Questions to Ask When Working with an Accountant

If you own a business, you need the help of an accountant to guide your financial and tax-related decisions throughout the year. If you’ve recently found one you can trust, it’s a good idea to ask some questions that will allow him or her to help you as much as possible as you navigate through the challenges of owning a business. So take a look at some questions to ask when working with an accountant. 1. How Often Should We Communicate? First, you and your accountant need to determine how often you’ll communicate throughout the year. This will depend on your specific needs, your budget, and whether or not it’s tax time. Do you feel the need to touch base with your accountant every week, or is once a month the best frequency? And do you want regular contact, or do you really only need to talk when a question or concern arises? Find a communication frequency that is best for you and your budget as you start working with an accountant. 2. What Is the Best Way to...

How an Accountant Can Make Your Business Successful

Businesses fail because they don’t have the right support. This support provides the anchor they need to stay afloat financially. That is why an accountant is someone good to know. He or she can help you realize all your business and financial goals. Use your accountant’s skills to create a successful business plan, comply with the tax law, and take care of general accounting, such as accounts receivable and accounts payable. Choosing an Accounting Professional When choosing an accountant for your business, you need someone who offers bookkeeping services and tax preparation help. Look for an accountant that can serve as your financial coach – someone who will scale your small business bookkeeping so you can continue to grow. Ask yourself, what accountant offers tax preparation near me? What small business bookkeeping services does the company provide? That way, you can short-list your choices when choosing a bookkeeping for a small business enterprise. Forming and...

Bookkeeping vs. Accounting

Many small businesses know that they need someone to take care of their finances. Yet, understandably so, not all know the difference between bookkeeping and accounting. Here is more on what the differences are and why your small business needs an accountant. What’s the Difference? Before we look at how they’re different, keep in mind that both work with your business to support you in your finances. Let’s take a look at what each does and how that affects your business. What Does a Bookkeeper Do? A bookkeeper records financial transactions. They work in a more administrative capacity and give you a look into business insights. A bookkeeper typically has a general ledger. And they make adjustments on things like: Debits and credits Payroll Invoices Recording financial transactions Balancing the account Handles customer payments What Does an Accountant Do? An accountant focuses more on the overall picture. For instance, they perform key functions such as: Taking care...