monthly business accounting procedures 1,2,and 3

Reconcile business bank statements the same way personal accounts are reconciled. Business checking may have a few differences especially if your business accepts credit cards for payment. You may also have more than one checking account on your balance sheet. Some companies keep their payroll funds in a separate checking account.

A detailed Customer Aging from Accounts Receivable should be run at the end of each month. The report balance should agree with the General Ledger Accounts Receivable balance. It should also match each Customer Statement balance if you send out monthly statements. Since cash flow is important to every business, this report is also helpful during the month. It alerts you to past due accounts or customers who have exceeded their credit limit. It’s easier to collect from slow paying customers if you begin working on them before they are seriously delinquent.

An Open Vendor Payable list from Accounts Payable should agree with the General Ledger balance. You should use this same report during the month to enable you schedule payments to your suppliers. The report will tell you what's due and to whom.

If you're overwhelmed with this give us a call or visit our site for more information:

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UNDERSTANDING THE INCOME STATEMENT

Small Business Finance - How To Understand Income On The Income Statement By Bruce D Hunter An income statement a.k.a. Profit & Loss, is a summary of income received and expenses reported during a stated period. The periods are usually stated in monthly, quarterly, or annual terms. A mid-month income statement can misrepresent the data. For instance, if your business records most of your sales in the first 7 days of the month but does not record expenses till after the 20th of the month. This mid-month statement will overstate income and understate expenses. Income can also be called sales or revenue. Income can be subcategorized by type of sales. For example a fish store could have: Freshwater Fish, Saltwater Fish, Equipment, Tank Supplies, and Food. Breaking down income this way at the end of the period helps the owner look at her Income Statement and know the dollar total of each type of sale. Another tool is to know what percentage of your sales come from new customers versus existing customers. One common mistake is to track income that is not earned by selling your business' product or service in the income section of the income statement; e.g. sales of assets, loan deposits, or tax refunds. Loan deposits are tracked on the balance sheet. Other income generated from other business activity such as gain on sale of assets and tax refunds is reported at the bottom of the income statement after expenses in the area reserved for non-operational income. When is a sale a sale? A cash accounting method records the sale when the customer pays. An accrual method records the sale at the time the customer order is confirmed. Payment is handled separately on the balance sheet against the receivable generated from the sale. Why is this an issue? The accrual method attempts to match a sale's income with its expenses to better determine if the sale was profitable. Cash accounting tracks sales and expenses as they are paid by your customer or you making it harder to determine if the sale was profitable. When printing out your P&L use the feature (within software) called percent of income. What this does is divide each account for income and expenses by the total sales for the period. Monitoring this percent allows you to compare periods regardless of the amount of the income or expense. For example, if sales for the month are 50,000 for January and your payroll is 10,000, then 10,000 divided by 50,000 equals 20%. This translates to: for every dollar of sales you spend 20 cents for payroll. The next month your sales are 40,000 and your payroll is still 10,000. 10,000 divided by 40,000 equals 25% or for every dollar of sales you spent 25 cents for payroll. You can see how knowing the percent of income can be a valuable management tool. Bruce Hunter is the CEO of CORE Magazine in Denver Colorado. CORE is the leading online source for small business startup. Visit our free online resource center now to get free access to information on small business finance. Article Source: http://EzineArticles.com/?expert=Bruce_D_Hunter

Understanding the Balance Sheet

The balance sheet is a financial report that shows the condition of a company's assets, liabilities and equity. In conjunction with the income sheet, these reports give a good indication of how well the business is doing. Assets are equal to liabilities plus equity. Keep your chart of accounts

simple when starting out and add to it as needed.

Assets may include cash accounts such as checking and savings, accounts receivable (if you sell on open account), prepaid expenses (like insurance paid in advance), vehicles that the business owns, equipment and machinery, buildings (if business owned) and inventory (if applicable).

Liabilities include debt such as accounts payable (if you buy on credit as opposed to paying cash), credit card payable and loan payable.

The equity section, which shows the earnings, is simply the difference between assets and liabilities.

The balance sheet gives you a snapshot at any given time of the strength of the company. Some important facts that cannot easily be determined by viewing the balance sheet are the age of accounts receivable and accounts payable. Further examination of those accounts can determine whether problems exist. Old receivables and payables can denote cash-flow problems.

Chart of Accounts

Every purchase, every item sold, and every dollar received must be allocated to an accounting category. These categories come from your chart of accounts. Many small business owners try to be too specific when setting up their accounts. Most businesses begin with a basic chart of accounts and add others that are specific to their type of business as they grow. Accounting software programs usually have sample charts. For example, Quickbooks utilizes a setup wizard that guides you through a series of questions about your type of business.

The following list is a good starting point but is not all inclusive.

BALANCE SHEET

Assets:

• Checking Account
• Accounts Receivable
• Inventory
• Fixed Assets

Liabilities:

• Accounts Payable

Equity:

• Equity
• Current Earnings
• Retained Earnings

INCOME STATEMENT
Revenue:

• Sales
• Cost of Goods Sold

Operating Expenses:

• Advertising
• Amortization
• Bank Fees
• Depreciation
• Insurance:
• General Liability
• Workers Compensation
• Health Insurance
• Interest Expense
• Licenses and Permits
• Office Supplies
• Payroll Wages
• Payroll Taxes
• Postage or Freight
• Professional Services:
• Accounting
• Legal Fees
• Meals and Entertainment
• Rent Expense
• Travel
• Utilities:
• Electricity, Gas and Water
• Telephone
• Trash Pickup
• Vehicle Expense:
• Fuel
• Maintenance and Registration

Accounting Doesn't Have To Be Hard Or Complicated

To be your own boss is the dream of many. It involves much hard work in many areas, but small businesses are the backbone of society. They generate tremendous amounts of commerce and help drive the economy. While you strive to obtain new customers, the accounting side of the business may seem less important. Bookkeeping is probably the least glamorous part of running a business, but one of the most important. Proper bookkeeping will help you determine pricing for your products, help you decide if you can afford to hire additional employees, and tell you whether you are making a profit. You have to account for every sales dollar and every expense.

Bookkeeping doesn't have to be an overwhelming task. It may be the last thing you want to think about, but it is vital. Your company may consist of only one or two people, and most of your valuable time is spent seeking new business or performing the work when you get the project. However, you can't afford to ignore the record keeping side of your business.

ANNOUNCEMENT: IRS is now accepting electronic formats

WASHINGTON, D.C.
(OCTOBER 27, 2010)

BY WEBCPA STAFF

The Internal Revenue Service has started accepting taxpayer records in electronic format from small businesses using Intuit’s QuickBooks and Sage’s Peachtree accounting software for audits and examinations. Like what you see? Click here to sign up for WebCPA's daily newsletter to get the latest news and behind the scenes commentary you won't find anywhere else.

Business owners and tax professionals have been advocating that the IRS begin accepting taxpayer records in electronic format instead of continuing to use traditional paper books and records for audits, the IRS noted. The IRS Small Business/Self-Employed Examination Division is responding to those wishes expressed in tax practitioner focus group interviews conducted at the 2008 Nationwide Tax Forums and from other stakeholders.

The IRS has recently completed training for revenue agents on QuickBooks Premier Accountant Edition 2010 software. Approximately 1,100 agents were trained and are now being encouraged to request and accept taxpayers’ QuickBooks files, as appropriate. The IRS is also able to accept electronic records from Peachtree accounting software.

Electronic files should be provided on a CD, DVD, or flash/jump drive to ensure security of the files. E-mail should not be used to transmit the electronic records.

The IRS said that obtaining a taxpayer's accounting records in electronic format provides significant advantages, including reducing the burden on taxpayers because taxpayers don’t have to print records stored electronically. The electronic files also provide a complete set of the taxpayer’s accounting records, decreasing the number of items included in the initial document request and follow-up requests. The IRS said the electronic accounting records also increase the efficiency of a revenue agent’s analysis and testing of the books and records, resulting in faster audit resolution.

The legal authority for requesting a taxpayer's QuickBooks backup files and accounting records in electronic format is based on IRC Section 6001, Regulation 1.6001-1(a) and -1(e), Revenue Ruling 71-20 and Revenue Procedure 98-25. Rev. Proc. 98-25 does not prevent or exempt a taxpayer from providing electronic records, if such records exist.

“Electronic information management has become the standard in business and will now be used to enhance the examination process,” said the IRS. “The ability to conduct audits using these software options will be available on an increasing basis as revenue agents begin to work with the new software. It is anticipated that this new audit tool will increase the speed and efficiency of field examinations, reduce taxpayer burden, and be a positive development for taxpayers, their representatives and the IRS.”

The IRS added that it is not endorsing, recommending or favoring any specific commercial products.

Accounting terms and what they mean

"OVERSTATED"

When an accountant states that a reported amount is overstated, it means two things:

1. The reported amount is incorrect, and
2. The reported amount is more than the true or correct amount.

For example, a company reports that its prepaid insurance is $8,000. However, the true or correct amount of prepaid insurance is only $7,000. The accountant will say that the reported amount for prepaid insurance is overstated by $1,000.

Because of double-entry accounting or bookkeeping, another general ledger account will also have a reporting error. In our example, if Prepaid Insurance is overstated (too much being reported) it is likely that Insurance Expense will be understated (too little is being reported).

More about the article here http://blog.accountingcoach.com/what-does-overstated-mean/

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What it takes to be an accountant and why even in this economy accountants are in need.

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How much do i have to make in order to file for taxes?

The amount will vary depending on 3 Major Factors:

Your Age

Filing Status

Type of Income You Receive

For example if you’re single and under 65 years of age, and earned at gross income of least 8,950 then you need to file. And if you were 65 years or older and had a gross income of at least 10,300 you need to file.

These filing requirement variations can go on & on all day long. Again, it all depends on the 3 Major factors of Age, Filing Status and Income Type Received.IRS 1040 Manual gives further details concerning the question of How much money do you have to make to file taxes.

Full article http://hubpages.com/hub/how-much-money-do-you-have-to-make-to-file-taxes

For all your accounting needs, contact me today http://woodardaccounting.com/

Different types of tax forms

As an employee, you should receive W2 forms that reports your earnings for the year. If you were an independent contractor then you should receive a 1099 form. If you were both, then expect to get both. When you file, in order to maximize your return and lessen the amount of taxes that you owe, be sure to deduct as many legitimate items as possible. Consult with with your tax professional or guide for best results.

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Full article here http://hubpages.com/hub/how-much-money-do-you-have-to-make-to-file-taxes

How much do you have to make in a second job before you have to claim the income?

The first penny is taxable. No exemption based on number of jobs or earnings.

Always find the correct forms and submit all earnings to protect yourself from future auditing.

If you have further questions or help filing contact us today http://woodardaccounting.com/

Free vs. Paid tax assistance

If you just can’t afford to hire a tax professional to work on your behalf, there are a few places you might be able to get them done absolutely free. You can check your local government offices or do a “free tax” search online.

However, this isn't recommended. Completely free tax route should be a last resort.

Tax professionals are professionals for a reason and filing a correct tax return will save you a lot of stress and maybe auditing in the future.

For all your accounting needs contact us today http://woodardaccounting.com/

General ways to spend your flexible spending money

If you have a flexible spending account through your employeer... here are some ways to spend your money. MAKE SURE YOU SPEND IT BEFORE DECEMBER 31st, OTHERWISE YOU LOOSE IT!

* Acupuncture
* Doctor’s visits – Routine checkup, have a full physical performed (including bloodwork)
* Dentist – Maybe you have a case of yuck mouth… Schedule a cleaning ASAP so you can go back a second time to get any cavities filled before years end
* Optometrist – Get that eye exam you’ve been putting off, get some new glasses, get your frames fixed, renew your stock of contact lenses, put it toward LASIK surgery, or even eye drops and contact solution
* Fill prescriptions
* Immunizations
* Dermatologist – Uhhh, maybe you have an embarrassing rash?
* Audiologist
* Therapy – Physical therapy, learning therapy, or psychiatric therapy
* Physical impairments – Wheelchairs, crutches, walker, custom made ortho shoes.
* Special needs – Smoking cessation programs, transportation to/from medical appointments Over-the-counter (OTC) drugs – Allergy meds, antacids, band-aids, cold and flu medicine, cough drops, fiber supplements, first aid supplies, incontinence supplies, hemorrhoid cream, laxatives, nasal spray, pain reliever, rubbing alcohol, sinus medication, and wart remover are all covered.

Expenses that require a letter of medical necessity:
* Health club fees
* Visits to a chiropractor
* Natural supplements/vitamins – Yes, that’s right… You can get birth control, hemorrhoid cream, laxatives, and wart remover, but… In order to get some vitamins, you have to show medical necessity.
* Massage therapy
* Acne medication
* Sunscreen
* Weight loss program

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Avoid common mistakes when filing taxes

File electronically.
If you e-file, tax software will do the calculations, flag common errors and prompt you for missing information.

Remember Making Work Pay.
The Making Work Pay Tax Credit –– available in 2009 and 2010 –– is worth up to $400 for individuals and $800 for married couples. Most people got it as a reduction to their paycheck withholding. Form 1040 filers must complete Schedule M, attach it to their returns, and claim the credit to benefit from it. (Tax software handles these calculations automatically for e-filers.) Also, if you received the one-time Economic Recovery Payment, you need to reduce your Making Work Pay credit by that amount.

Claiming the Homebuyer Credit?
If you claim the first-time homebuyer credit, complete Form 5405, and include it along with the settlement document, such as a HUD-1. More information is available on the homebuyer page.

Check only one filing status.
Also, check the appropriate exemption boxes. When you enter Social Security numbers, make sure they are correct.

Double check all figures.
While software catches and prevents many errors on e-file returns, math errors remain common on paper returns.

Get the Right Routing and Account Numbers.
Make sure the financial institution routing and account numbers you have entered on the return for direct deposit of your refund are accurate.

Sign and date the return.
If you are filing a joint return, both you and your spouse must sign and date the return. E-filers can sign using a self-selected personal identification number (PIN).

Attach Forms To the Front of the Return.
Paper filers need to attach W-2s and other forms that reflect tax withholding, as well as other necessary forms and schedules, to the front of their returns.

Do you owe tax?
E-payment options are available or send a check or money order payable to the "United States Treasury."

Need assistance, call us today http://woodardaccounting.com/

Read the full article here http://www.taxact.com/reference/2010/nw-avoid-common-mistakes.asp

Flexible spending accounts

How Much Should I Put in my Flexible Spending Account? The calculator below (see link) will estimate your 2010 tax savings if you use your employer’s flexible spending plan to pay for medical and/or dependent care expenses. What is a flex plan? "Flex plans" let you set aside a portion of your salary before taxes to pay for dependent care costs and medical expenses not covered by insurance.

http://www.kiplinger.com/tools/flex/

Contact me today with any questions http://woodardaccounting.com/

Behind on your invoices?

Sales tax clothing exemption

From October 1, 2010, through March 31, 2011, New York State sales tax applies to clothing and footwear that costs under $110. Recent legislation eliminated the exemption. Starting October 1, 2010, clothing and footwear costing less than $110 will be subject to:

* 4% New York State sales and use tax

* ⅜% tax in the Metropolitan Commuter Transportation District, if applicable

QUICKBOOKS Point of Sale: QBPOS

More information found here: http://www.tax.state.ny.us/sbc/sales_tax_clothing_exemption.htm

If you would like to talk to someone about this, contact us today

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Essential Quickbooks data ON-THE-GO

Millions of small business owners now work away from the office at least part time. QuickBooks 2011 provides these remote workers access to essential data anywhere, from the airplane to the jobsite, giving them the flexibility they need to meet business demands.

Offered as an add-on service to QuickBooks 2011 and sold separately, QuickBooks Connect provides access to essential QuickBooks customer and transaction data online or on a mobile phone. Users can create and manage invoices, pull customer information, check the status of a payment, and get real-time answers to questions on the go. Secure data automatically syncs with QuickBooks, so users will always have the most up-to-date information at their fingertips.

Learn more with Woodard Accounting today http://woodardaccounting.com/

Quotes from quickbooks users

"The new QuickBooks search enabled me to find three annual charges that had not been renewed on invoices and thus earned our company $300 that might have been missed all together. It is a very robust tool and I am very pleased with its performance."

said Kathy Zaroczynski of Zaroczynski and Associates in Rochester, NY

"Every month I dread having to apply late charges to several hundred tenants in my storage units that haven't paid on time. It is a long, laborious task that requires hundreds of mouse clicks creating invoices. Today, I used the batch invoice feature and in just two minutes I had every invoice completed and applied!"

said Douglas Brockhouse of Bender Commercial Real Estate in Sioux Falls, SD

Want to hear more great reviews or learn more about Quickbooks

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Make everyday tasks more efficient

Administrative work, such as tracking and collecting payments, can be time-intensive and costly. A recent Intuit survey found that small businesses leave an average of $1,500 per month on the table from overdue payments. New features to increase efficiency in getting paid:

• Batch Invoicing lets small businesses owners who often bill many customers for the same service streamline the process by creating one template invoice to send to all related customers.
• Yahoo, Gmail, Hotmail Integration allows businesses to easily send invoices, estimates, and other e-mails from their preferred webmail service directly from QuickBooks.
• Collections Center helps users to quickly identify overdue and almost-due invoices, and then directly e-mail collection notices from their Outlook, Yahoo, Gmail, or Hotmail accounts.
• Intuit PaymentNetwork (sold separately) provides a way for a small business’s customers to instantly pay their invoices.

Contact Woodard accounting today http://woodardaccounting.com/

Getting faster access to insights

For many small businesses, QuickBooks is the hub of important customer, vendor, and inventory information. Accessing the right data at the right time can result in better business decisions and faster responses to customers. Upgraded features give customers quick access to important business information:

• Customer Snapshot offers a consolidated view of an individual customer’s purchase history, average days to pay, and outstanding balance. This helps small businesses make timely decisions on customer requests.
• QuickBooks Search lets users quickly locate any customer, account, report or invoice details within their QuickBooks repository with a simple keyword search.
• Customer and Vendor History provides at-a-glance views of important customer and vendor details, such as history, estimates and past orders, on a single screen.
• Balance Sheet by Class provides a way for QuickBooks Premier users to separately track multiple funds, departments or locations in a single, easy-to-access report.

For all your accounting needs contact Woodard today http://woodardaccounting.com/

New Quickbooks

QuickBooks 2011 Saves Small Businesses Time in the Back Office

New Version Provides Faster Access to Data, Increases Efficiency and Enables Access to Essential Information On-the-Go

MOUNTAIN VIEW, Calif. – Sep. 07, 2010 – Small businesses will find more ways to save time with the latest version of best-selling QuickBooks® financial software from Intuit Inc. (Nasdaq: INTU). QuickBooks 2011 includes several new features that help small business owners find important data quickly when they need it, perform everyday tasks more efficiently and access essential business information remotely. The software goes on sale Sept. 27.

"For every small business owner, time is money. They want to focus on their business - their passion - not on their books," said Dan Wernikoff, vice president and general manager of Intuit’s Financial Management Solutions division. "With QuickBooks 2011, we’ve focused on helping them put seconds, minutes and even hours back on the clock."

QuickBooks Pro and Premier 2011 build on prior versions by streamlining important accounting tasks, such as invoicing and collecting payments. The new Customer Snapshot and Customer and Vendor History features provide at-a-glance views of important customer and vendor details. Users can also take advantage of the power of QuickBooks Connect, a new service that lets small businesses access key QuickBooks data remotely via the Internet or a mobile device. Additionally, as with previous versions, QuickBooks 2011 helps small business owners stay organized by allowing them to have their business information in one place.

A simplified startup process makes it easier and faster for new small businesses users to get up and running in QuickBooks 2011. New this year, the Quick Start Center guides users through installation and lets them import business contacts directly from their Gmail, Yahoo or Hotmail webmail accounts. The center also recommends first steps to populate a new user’s account with key information to start quickly.

Quickbooks 2011 gets better!

Press Releases

QuickBooks 2011 Saves Small Businesses Time in the Back Office New Version Provides Faster Access to Data, Increases Efficiency and Enables Access to Essential Information On-the-Go MOUNTAIN VIEW, Calif. – Sep. 07, 2010 – Small businesses will find more ways to save time with the latest version of best-selling QuickBooks®financial software from Intuit Inc. (Nasdaq: INTU). QuickBooks 2011 includes several new features that help small business owners find important data quickly when they need it, perform everyday tasks more efficiently and access essential business information remotely. The software goes on sale Sept. 27. Would you like help with Quickbooks or other accounting needs? http://woodardaccounting.com/ Read more http://about.intuit.com/about_intuit/press_room/press_release/articles/2010/QB2011SavesSmallBusinesses.html

Quickbooks is now on MAC

Press Release

QuickBooks 2011 for Mac Boosts Productivity; Helps Small Businesses Scale as They Grow New Features Save Time, Enhance Customization MOUNTAIN VIEW, Calif. – Sep. 07, 2010 – Small business Mac users will be able to save more time thanks to new multi-user functionality in the latest release of QuickBooks financial software, from Intuit Inc. (Nasdaq: INTU). QuickBooks 2011 for Mac gives small business owners powerfu Preview l tools with the simplicity they expect from a Mac product. Available Sept. 27, the software can grow with the user’s business, make everyday tasks easier, and create customized business forms and reports. The software meets the needs of expanding small businesses with new multi-user options and the ability to set user permissions - the most-requested features by previous QuickBooks for Mac users. With the ability to delegate important accounting tasks to others in the company, small business owners can focus on driving their businesses forward. QuickBooks 2011 for Mac also features new reports and tools to help users track job-related mileage so they can claim the tax write-offs they deserve. Users can also customize reports and forms to reflect their brands and to show the exact data they need to show. Woodard can offer you more information on Intuit systems http://woodardaccounting.com/ Rest of the press release http://about.intuit.com/about_intuit/press_room/press_release/articles/2010/QB2011ForMacBoostsProductivity.html

Organizing your receipts

Tax time is stressful, here is an easy way to organize.

• Make a list of all of the deductions that you take for your business.
• Check with your accountant or financial person to see if you forgot any deductions. These are some of the common categories for deductions: Advertising/Marketing, Cell Phone, Credit Card, Donations, Insurance, Office Expenses, Books/Magazines, Professional Services, Professional Dues, Training/Seminars, Travel, and Taxes. I also include a compartment for Mileage and Income. You may have more or different categories.
• Buy an accordion file folder with the alphabet labeled. You will not use the letters but will instead create labels according to the names of the deductions you have chosen.
• Label them in alphabetical order. It is easier to file receipts this way.
• Place the file folder in a file cabinet next to your desk if possible.
• When it is time to do your taxes, total each category and take the information, along with the back-up receipts, to your accountant.

Contact us for more tips and help with your accounting needs http://woodardaccounting.com/

Full article http://smartwomanonline.com/feature/2009/05/create-a-system-to-organize-receipts-for-next-years-taxes/

No excuse for shoe boxes

Today, there's simply no excuse for using the "shoe box" method for storing receipts. There are countless resources for the small business owner or entrepreneur to help keep track of what comes in, and out.

We can help http://woodardaccounting.com/

Tip and tricks

• In a complete transaction in a double entry bookkeeping system, the sum of the credits must equal the sum of the debits for the transaction to be in balance.
  
• Needless to say, keeping up–to-date records of all financial activities in your business is one of the most important accounting tips you need to follow diligently. This includes payroll, bills, profits and expenses. When you keep these facts current, it will help you a lot during tax time.
  
  For more information or for help with your companies accounting needs contact us
  http://woodardaccounting.com/accounting.html

Quickbooks is easy

Hire us today for all your accounting outsource needs
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What is Quickbooks?

General features and use

Small businesses use QuickBooks for most financially-related business processes, from entering sales receipts, tracking expenses, preparing and sending invoices, sales tax tracking and payment, preparation of basic financial statements and reports, purchase order processing, and inventory management. The program does not include MICR line printing, but does include check printing and options for employee payroll and time tracking. For most tasks, QuickBooks doesn't require users to understand standard accounting procedures, including double-entry bookkeeping. Most transactions are recorded using on-line screens that closely resemble paper based forms such as invoices or checks.

Contact us for all your accounting needs today http://woodardaccounting.com/accounting.html

Why outsource your bookkeeping needs?

Accounting is a core business function. Without accounting, a business is sure to fail. With accounting, a business might survive. With accounting managed by a Profit Center Expert, a business is certain to succeed.

Poor financial management is often cited as the reason for most small business failures. Often the business owner or a member of the business team manages this crucial function because they want to maintain complete control of their business, they're afraid that outsourcing the accounting would be too expensive, or a combination of the two.

Benefits of Out-Sourcing:

• There are countless benefits you enjoy when outsourcing your accounting/bookkeeping:
• Save Yourself Time. You're in business because you're good at what you do. Your expertise involves the product and/or service you offer. And we're guessing your expertise is not accounting. So if you, or anyone on your team, spend time managing your business's a finance, that's time that could be better spent building your business.
• In order to be competitive you must constantly be looking for ways to improve and expand your products and/or services, better market your business, and stay ahead of your competition. When you and your team focus time and attention on the accounting, that's time not spent on these crucial tasks. When you outsource the accounting to a trusted professional, you can use that time to make your business the best it can be.
• Save Yourself Money. We all know time is money. The average small business owner spends over 10 hours personally, each month, accounting for the business. If your average billing rate is $50 per hour, you may be spending more than five hundred dollars' worth of your time! Chances are you can pay for a good accountant and then some with all that money.
• Gain Access to Valuable Accounting Expertise, Equipment, and Technology. Reputable accountants have the expertise to not only save you money, but to make your business more profitable. In addition to that, they have access to equipment and technology that most small businesses can't afford. They will use their resources to your advantage, and save you the time and headache of doing it yourself.
• Gain Access to Profit-Building Information. A truly valuable accountant is also a Profit Center Expert. They analyze financial data in order to assist you in making profitable decisions for your business. A Profit Center Expert can inform you which products and/or services to expand, which to eliminate, whether your marketing attempts are successful, where you're losing money, and where to cut back in order to save and redirect funds in order to become more profitable.

Incredible Benefits You Will Enjoy:

• Your accounting system will be tailored to your business. You can do it, I can do it, or we can do it together.
• Your bookkeeping/accounting costs will be substantially reduced.
• Your personnel will be free to produce more profits for you.
• We can help you acquire funding for your business through financing, investors, and other means.
• You will receive properly-designed financial statements that will allow you to manage your business efficiently and help you to better plan for the future.
• Choose from hand-posted or computerized programs specifically tailored to meet your accounting needs.
• Streamline the accounting task, and free up your valuable time. [Consider this: the average small business owner spends over 10 hours personally, each month, accounting for the business. If your average billing rate is $50 per hour, you may be spending more than $500 per month of your time.

We're here to serve all your bookkeeping and accounting needs

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