Xero Certified Partner | Bookkeeping Services

What You Need to Know about Hiring a Bookkeeper?

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Do you know that bookkeeping services could drastically change the financial outlook for your company? It is common knowledge that small business owners need to keep up with financial tracking and strategy. But, too often these tasks fall to the bottom of the priority list.

If you own a small business, then it is essential that you consider the benefits of hiring a bookkeeper. You have a lot of responsibility to deal with many aspects of business management, and outsourcing the bookkeeping tasks can reduce your stress levels so that you can focus on other important daily tasks.

How Can a Bookkeeper Help Your Business?

To put it simply, a bookkeeper is a financial professional who can help with managing the money that flows through your company. Outsourced bookkeeping services are focused on tracking revenue and paying the bills, to be sure that financial responsibilities are met throughout the year.

Not only do bookkeepers track the numbers on a daily, weekly, monthly, and annual basis, but they can also offer financial advice to help with the future success of your company. The goal of these services is to ensure that your business runs smoothly. By tracking cash flow and setting expectations for the future, you can make decisions right now that will positively impact the outlook for your company.

Employee or Outsourced Bookkeeper?

It is easy to see why bookkeeping services are vital for your business. Once you’ve decided that you need someone to help with bookkeeping, how do you get started? A common misunderstanding is that an employee needs to be hired to take care of these tasks. But, you don’t have to bring someone else onto the payroll. Instead, you might consider the benefits of hiring an outsourced bookkeeper.

Outsourcing the bookkeeping tasks can be beneficial to protect the financial interests of your company. You will have a third party checking the numbers to detect potential fraud that might be happening among your employees. Additionally, the overall costs of these bookkeeping services are often cheaper compared to hiring an employee. When you choose an outsources, you don’t need to worry about paying for payroll costs or benefits.

Bookkeeping Services for Your Company

These bookkeeping services can be catered to your individual needs. Here are a few things that you might want the bookkeeper to help with:

• Payroll management

• Creating and sending invoices

• Paying the bills

• Documenting sales that come through

• Verifying vendor costs

• Sending payroll taxes

• Running financial reports

• Handling sales tax tracking and payments

• Reconciliation of bank accounts

Your bookkeeper can help with these financial tasks, and also make recommendations about things that need to be implemented in your company.

The top reason why should avoid bookkeeping yourself

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Trying to save money by doing the bookkeeping yourself can be very costly. We’ve identified 10 danger items to be aware of.

Simple bookkeeping mistakes can become very costly, not only by incorrect allocations, but also in the time that’s spent tracking down the source of the errors.

Bookkeeping is a task that many business owners hate doing, and is often rushed, left to the last minute, or carried out late at night after a hard day at the office or on site. It’s time like that when the mistakes are made, and incorrect bookkeeping can expose owners to substantial fines if discovered by a Tax Office audit.

Here’s a list of ten common mistakes made by small business owners in DIY bookkeeping:

This is still an area of confusion particularly for start-up businessess. We often see sole traders charging GST without being GST registered.

2. Claiming GST credits without realising that your supplier is not registered fo GST

3. Claiming GST without valid tax invoices

4. Not understanding the accounting software package

As accounting software packages are simplified by programmers, they seem to get more complicated for the end user. Many of the functions are confusing for the business owner who may have no understanding of double entry bookkeeping. This can lead to business owners doubling their work in an effort to create the desired reports, and therefore producing inaccurate bookkeeping records.

5. Incorrectly allocating the data entry can result in missing valid tax deductions that should rightfully be claimed. Your accountant will generally not have time to go through each item, and may not fully understand your business. So if you’ve allocated data incorrectly, you r accountant may also miss those claimable items

Read More : Dangers Of Doing Your Own Bookkeeping

More importantly we’ll review your financials, and show you how to manage your cash flow, increase your income / revenue, and reduce your taxes.

Are you looking for a Bookkeeping Outsourcing Services?

Contact Us trustworthy outsourcing solutions for your business.

Looking For A Bookkeeper In Campbelltown, NSW

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How hard is it to find a reliable and experienced qualified bookkkeeper that lives close to Campbelltown, NSW?

It seems like we’re trying to pull a rabbit out of a hat!

There’s a great opportunity for a registered BAS agent that’s got at least five years’ experience as a freelance bookkkeeper in the Campbelltown area. We’ve had replies form bookkeepers in Pyrmont, Rozelle, Lidcombe and Liverpool, just to name a few suburbs that ARE NOT close to Campbelltown.

What’s intersting about this is the fact that bookkeeping is a profession that requires attention to detail. It does not call for people to invent information, or to guess the correct answers. Bookkeeping is a process of documenting existing factual eveidence and compiling that information into a format that can then be interpreted accordingly.

The common theme about all the above bookkeepers who have responded to our opportunity have been unable to “tick all the boxes” and they’ve guessed what it is that we are looking for. Why would someone want to employ bookkeepers who want to make up information to then generate what they think is the correct answer to a problem?

Read More : Looking For A Bookkeeper In Campbelltown, NSW

How hard is it to find a reliable and experienced qualified bookkeeper that lives close to Campbelltown, NSW? If You think you qualify, then CONTACT US today.

What makes a good cloud accounting provider?

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Making the move to the cloud makes sense for your business, but it’s important to understand that not all cloud organizations have the same standards. Consider the ten factors in this guide to ensure you pick the best cloud accounting provider.

What is a cloud provider?

Choose XERO Bookkeeping For Cloud Based Accounting

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Xero Bookkeeping Services is a Cloud-Based Accounting XERO service providing the best in class bookkeeping services to our valued clients worldwide. Xero Bookkeeping for the clients with valuable accounting information about their businesses wirelessly, all over the world. The ease of cloud-based accounting takes out the hassle of your business by providing a detailed view of your accounts with the help of XERO. If you have ever posted Xero Bookkeeper wanted ads online, your search ends with XERO Bookkeeping.

Hire Xero Certified Bookkeeper have been trained and work only with  Outsource Bookkeeping Services qualified staff to deliver nothing but the best to our clients. We are unique accounting provider and work with a level of expertise to the client’s XERO bookkeeping requirements. cloud-based XERO Accounting provides services provides VAT returns, bank reconciliation, sales invoicing and credit control, and salaries journal.

Reliable Xero Bookkeeping Services For Your Business

We also assist our clients to convert accounting information from your existing accounts software into Xero cloud based accounting software. Outsource Accounting Services as your outsourcing partner will enable you to concentrate on your business, by managing all your accounting details for you. Our Bookkeeping Services has served many satisfied clients all over the UK, Australia, and the United States.

Our cloud-based accounting XERO we offer a proactive cloud-based Xero accounts package with fixed monthly charges and round the clock support service. Our dedicated team of XERO Certified Advisor is available to support you and provide any training you may need. We thrive to provide the best service possible to our clients, looking ahead to increase profits and reduce tax with the help of Xero accounting. 

We efficiently provide a wide range of XERO based accounting and taxation services to all kinds of businesses, no matter how big or small. Bookkeeping services have provided a cloud-based accounting to clients ranging from contractors to larger companies, and from small business owners to limited companies and LLPs.

What is Benefits of Updated Accounting and Bookkeeping Records?

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Last week at a conversation with a company coaching customer, I inquired if she’d upgraded accounting and bookkeeping documents by outsourced accounting and bookkeeping services which would help her create the best business choice to get a huge question about her organization.

Guessing isn’t the best way to conduct small business. To the contrary, every company big and little should have updated accounting and bookkeeping documents so firm leaders will make the ideal choice with a base in the information. Follow along to find out three large advantages of maintaining your accounting and bookkeeping documents upgraded on a regular basis and several methods to get you started with your accounting for your company.

1. Strategically ladder-up your earnings

As a freelance author for my principal revenue, one of my most important goals is locating the best customers that provide me the most critical yield on my time spent. While freelancing is a company that’s hard to climb, I love to do something that I call “laddering up” my customers where I grow up and put in fresh high-quality customers while permitting go lower-quality and lower-paying customers since they’re replaced.

This course of action is excellent in concept, and many salespeople and business owners know the idea. However, why would they continue to battle with low-quality customers? Since they do not examine the amounts and look for ways to attract better customers and eliminate the terrible ones. Without a medics, you may not even know which customers are draining your funds and which result in the very best profitability in your enterprise.

A couple of months after quitting my job to go fulltime online, check out my personal upgraded accounting records revealed that roughly 76% of my income came from composing while roughly 15 percent came from site development and service. I reduce the 15 percent of my earnings which has been carrying too much of my period and my overall income approximately tripled over the upcoming few months!

2. Cut Underperforming Services and Products

The attention of my dialog with the training customer focused on turning services to some product she can sell for a fixed monthly subscription fee. However, with no comprehensive accounting documents past the accounts she receives out of her payment processor, she did not have some actual records to demonstrate her earnings by client or product.

With the ideal details in hand, you can pick out the 1 product which sucks away a lot of the time for a lot of money. You’re able to identify costly recurring jobs you could have the ability to outsource or remove. As you can see in the case above, occasionally cutting-edge goods or services may result in considerable development.

But without correctly updated accounting and bookkeeping documents, you do not understand where to focus. End that big error straight away. Get those accounting novels together and keep them at least a month, which means that you can create the best management choices.

3. No Additional Homework Required!

If raising revenues and cutting prices weren’t enough motivation to maintain your books upgraded, this can be one final lynchpin:

Your earnings. You must do taxes in case you’ve got a business enterprise. That isn’t optional. What is optional is which makes it a stressful time by dismissing your bookkeeping during the year and hurrying to get it done in April prior to the deadline.

Rather than this system, plan and maintain your novels upgraded at least one time each month. I move a bit over what most individuals want and upgrade my accounting records each week.

When most people must pay and file taxes after every calendar year, many business owners and lots of unwanted hustlers need to pay quarterly estimated taxes. Even though you can file and pay according to past year’s tax charges, maintaining your novels upgraded can allow you to get a better estimate in case you have to cover more quarterly to avert the large one-time lump sum payment in April.

4. Do Not Dismiss Updated Accounting and Bookkeeping Needs!

If you discover the notion of accounting and bookkeeping intimidating, then you may always hire a specialist to manage it to you. My buddy Eric Nisall in Account Lancer helps me once I have questions together with my novels and manages virtual accounting services for a lengthy list of solo company leaders.

But you choose to do your accounting is excellent so long as you stay with this! If you do not, you will quickly end up supporting and with futile financial reports. With the ideal focus in your novels, you have the perfect info to set your company on track to flourish for many years to come.

Is a professional accounting service essential for early stage startups?

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Accounting must be given prime importance in any business entity as it is most required, especially for controlling and for providing financial reports at the end of the year. Accounting will help a Startup to determine its productivity and its profit from the initial stages of the company. This provides entrepreneurs a method for maintaining accounting information. The accountant hired by the company will keep track of the money spent for business use as well as for personal use, this will help in strategizing on how the money can be saved. In the initial stages of a Startup, the company must hire consultants or interim CFOs to maintain simple accounts rather than spending more on in-house professional resource.

Benefits of Accounting for Startups :

Forecasting Financial Estimates

Every Startup needs to provide information regarding its financial estimates to banks, investors or lenders to obtain funds in return from them. Accounting helps the business to make a business plan which includes estimated monthly expenditure, economic forecast, projected rate of growth of the Startup.

Determine Profitability

Accounting helps an entrepreneur to determine its profitability in the future. It helps in monitoring the progress of the company and also to make necessary amendments where necessary. Through accounting, entrepreneurs will get to know where they need to use their assets to generate profit.

Budget Expenses

Accounting helps an entrepreneur in setting up a Budget for expenditure on various aspects affecting a Startup. Accounting Services helps in maintaining records of the cashflow in the business, capital is used in hiring of employees, advertising, purchasing of inventory, petty items. Budget helps an entrepreneur is reducing expenditure on not so essential items and by saving the capital for future purposes.

Payroll Accounting

Accounting for startups help an entrepreneur to record its employees’ compensation such as salaries, bonuses, commissions and any other means earned by an employee. It also maintains employees’ portion of Health insurance premium, Social security taxes, paid holidays.

Tax Specialization

Taxation is a main aspect where a Startup may face some difficulties beyond the areas of fund raising and finance. This is where trained professionals like Chartered Accountants play a crucial role in the growth of the Startup. A trained professional who knows the tax laws whether it may be direct tax, indirect tax or any other tax involved will smoothen the working of the business.

Focus on Business

An accountant helps an entrepreneur by letting them focus on their product rather than worrying about the finance. The entrepreneur can create partnerships, create relationships, market its product with the help of an accountant. It will provide valuable information to the business to make it grow and earn profits.

Business Accounting – How To Choose The Right Accountant For Your Business ?

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From the moment the first sale is completed in any business transaction, an accounting cycle begins. All businesses are required to keep records of revenue, assets, liabilities and payroll for Business Accounting.

Accounting services for business can vary greatly in the actual performance of accounting duties. Some businesses prefer to maintain their accounting services in house. Others outsource their accounting to licensed CPA’s and auditors. The type of business operation usually determines the type of accounting, even with basic accounting principles in place.

Determining Business Accounting Needs:

In many small businesses, accounting can be done once a week. This assumes the business has a relatively low volume of daily accounting transactions. Other businesses require daily accounting due to high volume transactions.

Determine specific accounting needs to engage accounting individuals who are licensed, knowledgeable and have a pro-active sense of planning and tracking accounting records. These individuals should be heavily detail-oriented and capable of spotting weaknesses in accounting transactions expediently.

While scientists study details in data, accountants study details in numbers. To hire a successful accountant, it’s important to review their experience and their specialty. Not all accountants perform general accounting duties, although they may be fully trained to do so. Many business accountants specialize in cost accounting, payables, receivables, general ledger, payroll, tax preparation or payroll. Most business owners choose an accounting individual who has general accounting experience to cover a wider range of accounting.

Why Hire a Licensed CPA or Auditor?

In businesses, accounting tracks daily revenues, profits and losses. At the end of each fiscal quarter, a report is produced on the full record of business quarterly, bi-annually and annually. These reports are required to validate and substantiate the financial state of the business to state and federal agencies. 

Financial reports must be validated by a licensed CPA or auditor. The job of a Certified professional auditor is to verify all financial records for a designated length of time recorded  as required to comply with state or federal laws and submit to the agency.

If you are looking for the hassle free accounting services for your business, then need to hire an accountant or CPA who can help you from Bookkeeping to tax preparation/Return.

If you are still confused about the accounting or looking for certified accountant then you need to content accounting firm like Account-Consultant.

Why Should a Small Business Outsource Bookkeeping Services?

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Thousands of businesses worldwide outsource in some way or another and it’s increasingly popular to hire an outsourced bookkeeper. This may sound a little strange to those who know very little about outsourcing, though it has become very much possible to Bookkeeping Outsourcing Services today. However, what are the reasons as to why a small business should consider outsourcing their bookkeeping services?

Reason to Outsource Bookkeeping Services:

• A Bookkeeper Offers Quick Turnaround Times with Quality:
  

It’s important to remember bookkeepers who don’t work as part of a large bookkeeping firm, have only a few things to keep their reputations alive. Firstly, bookkeepers rely on affordable prices and quality work. If they hand back a company’s books with several errors on them then they are less likely to be rehired and very unlikely to get work elsewhere. 

Secondly, bookkeepers need quick turnaround times in order to keep their clients happy and this is the biggest reason why small businesses need to outsource. Professionals know the competition is huge for them and unless they provide quality work in a short space of time, they won’t go far.

Small businesses don’t usually have a large team of people behind the scenes and look to double-up the workload as much as humanly possible. Unfortunately, having a member of the team dealing with their regular job as well as the bookkeeping services can often be a troubling thing. Sometimes the employee takes away precious hours that should be dedicated to their regular duties but are instead focused on bookkeeping. It’s fast becoming a problem for small businesses but when you outsource to a bookkeeper you remove this issue.

• You Get the Full Story from a Professional Bookkeeper:

  Hiring bookkeepers who are friends or family members are great but if they aren’t qualified they potentially hurt your business. It’s the same with allowing employees who have no real experience or qualifications to deal with bookkeeping; disaster is looming large. However, when you outsource and hire an bookkeeper you can learn much more than ever before. You can get a clear picture of your finances and can actually learn whether or not the business is in a strong position to expand or stay afloat for the upcoming months.
   
  Read More :Why Should Outsource Bookkeeping Services?

Why your Business Needs Professional Bookkeeping Services?

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If you are running business then there are several things to do into your business for managing your business effectively all the time. Professional Bookkeeping Services helps you in managing business financial services.

Who are bookkeepers?

The bookkeepers are the experts who can help you to evaluate the financial needs of business. They are the one who is the asset for any of the business financial needs.

Bookkeeping Services Included with :

• Keeping of record of all the finance and related documents of the firm
• Making record of debit and credit of the company
• Record and formulation of the invoices
• Maintaining and analyzing the accounts of the company
• Evaluation of payrolls
• Evaluation and keeping update of checks, facts and figures of the company
• Record and notification of the changes noted in records

Bookkeeping is not an easy task, and it needs to be done from the professionals. It is also necessary that any of the work that the hire a bookkeeper perform should be in accordance with the laws of the company and the country.

It is usually seen that many of the companies usually rely on hiring nonprofessionals for working of the bookkeepers. They find this to be cost effective for their firm, but this is costly as the bookkeepers are nonprofessional.

Different companies work differently. Some of the companies require bookkeeper for a shorter duration while some of them require them for a longer duration.

Read More : Why your Business Needs Professional Bookkeeping Services?

In such case, it is necessary that the company from where the bookkeeper is hired should be competent enough to fulfill the demand of the company.

If the business owner thinks like that if the business hire non professional bookkeeper their business then it looks good for a short time, but when you see it in the future then it will more costly for business ever you think.

Bookkeeping Services: What to Expect from them ?

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Bookkeepers have quite a varied role and while most mistakenly believe they only deal with basic number inputting, it is far more complex than that. Certified bookkeepers can deal with many financial matters within a business and you may be surprised with the services they can provide. What should you expect when hiring a Bookkeeping Services ?

Gathering Basic and Advanced Financial Information:

The books of a business can tell an owner so much about their business as a whole and the numbers do really count. In essence, a bookkeeper can create financial reports and analysis which can then be used to assess certain areas of a business. For instance, if you wanted to gather a report containing what monies have been spent on materials per month and what is recouped via paid invoices, bookkeepers can write a detailed financial report. This could then be used to see which areas are costing you more; however, bookkeepers can also carry out basic weekly bookkeeping for the business.

Bank Reconciliation:

This is quite a foreign concept to most and it isn’t hard as to why thousands of owners struggle to understand what bank reconciliation means. However, bookkeepers can offer this service and it can be useful for spotting errors. The way bank reconciliation works is very simply; the bookkeeper will obtain records from a bank for a certain period of time and compare these records to the cash balance records from the company. This is the time when the bookkeeper can pick up on potential errors made.

General Ledger Keeping:

The main service provided by every bookkeeper is to maintain financial ledgers of the day-to-day dealings of the business. This is a crucial part because without it a business cannot run. Every cent coming into the company and going out is recorded (either in single or double entry system) in these ledgers. Bookkeepers will also deal with accounts payable and accounts received which means they list every transaction the company owes and which it is owed also. Basically, every transaction made by the company is recorded and checked by the bookkeeper.

Read More : Bookkeeping Services: What to Expect?

If you are still confused about the what are you looking for what your business need, then you can contact us here, we help you in all your business financial needs.

How to Bring Added Value to Your Client’s Bookkeeping in 2020 ?

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Experts in this industry, we know that only a tiny percentage of companies take on the duty of managing their accounting and bookkeeping services , yet many companies admit they want outside help to address financial issues by using bookkeepers.

For businesses that frequently visit their respected advisers over summer and winter, they are simply more prepared, confident about their leads, and can get to see a rise in their income.

Strategies for expansion in your Bookkeeping Services in 2020:

• Proactively Know What Reports Are Essential To Your Clients So When:

  Utilize technology to demonstrate relevant reviews (interactively where possible) over a mobile dashboard. Visuals are really important as your consumer can follow combined with the reporting. This can help build trust, and it allows these to learn different bookkeeper tools that are wonderful for their business. When you hire a bookkeeper then it will be helpful in managing your business accounts.

• Leverage all technology integrations:

Be it connecting a cost management software, syncing a spot of sale for an accounting software, or determining how to sync product owner service accounts properly to avoid dual entries. It can help you work faster and also have more to time to do something within an advisory capacity with your clients.

• Pretend the Business Belongs To You:

This can help you start to see the little things, like why, was the Verizon costs $800 a previous month rather than proceeded to go over $200 before, or why was there a CC fee from bookkeeper when the client’s business is situated locally with only local clients?

Read More :  Tips to Bring Added Value to Your Client’s Bookkeeping in 2020

Changing our perspective, we can see things from the client’s point of view. In turn, this can help us turn into a valuable property because not only can we identify problems, but we can produce viable solutions that will assist their business to grow.

Online Bookkeeping Services to Keep Business Costs Low

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Bookkeepers and bookkeeping services are greatly required as more look to set up small to mid-size businesses. For most business owners they remain torn between hiring an in-house bookkeeping service and outsourcing to a bookkeeping services or freelancers. It can be a tough choice as both are impressive options, but how is it that outsourcing is able to keep business costs low?

Fewer Costs to Deal With You may not be aware of this, but when you outsource and hire a freelancer or a freelancing service you aren’t stuck with half as many costs as you have with hiring a regular employee. This might not appear to be a great money-saver; however, the reduced costs can all add up and it can be a fair amount you’ve saved. Putting aside, what an outsourced bookkeeping service can do for you, you need to realize that there are fewer costs associated with outsourcing. Outsourcing to a bookkeeper reduces costs, which also essentially lowers your overall business costs. This is what you need, especially when the business needs to make cuts.

Are Outsourcing Bookkeeping Services Really possible at Low Cost ?

Choosing to outsource to a bookkeeper may not initially appear to be the low cost option that would solve all your financial problems but it can help keep reduce business costs. Sometimes the savings aren’t immediately recognized, but, over time, they can show themselves and they can be extremely positive too. It’s very much possible to keep your business costs quite low by outsourcing and you’re probably already aware that fewer health and medical, not to forget holiday benefits don’t have to be paid by your company. This can reduce costs and it may help boost efficiency with the books too. Remember, there is such a large pool of contenders that many offer affordable prices which is why there has been a large upturn in outsourcing.

There Is No Need to Pay for More:

Why pay more? Every penny counts and in a tough business world you cannot afford to pay more than what is really necessary. Let’s be honest outsourcing does in fact allow you to keep your overall costs low, even if it reduces them by only a few percent. However, reducing the costs by a mere five or ten percent can put potentially thousands of dollars back into the business. Outsourcing your bookkeeping matters to a bookkeeper can be a sensible idea and while you will still have some costs they won’t be as great as you think. You can hire an accountant for business who can help you in daily needs.

Read More : Outsourcing Bookkeeping Services to Keep Business Costs Low

There is some mainly reason of how to outsourcing bookkeeping services offer services at low cost, but still if you have questions or Query about the bookkeeping services then don’t hesitate, Contact us here.

Tips to choose a Tax Professional for Tax Preparation

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Many individuals and businesses take help for the tax preparation from someone/tax professionals.

If you pay the tax preparer to prepare tax returns the IRS suggests that you prefer that the tax preparer intelligently.

Taxpayers are legally responsible for what is on their tax returns even if prepared by a tax preparer or someone else.

Therefore it is important to with awareness choose when hiring a person or company in order to prepare the return.

Most return preparers are professional, reliable and provide high quality tax preparation services to its clients.

Points to consider when someone else prepares the tax return:

• Check the qualifications of the person : Ask if the preparer is associated with a tax professional organization that provides its members with continuing education and resources and maintains a code of ethics. New regulations effective in 2020 requiring all paid preparers tax return, including tax lawyers, auditors, and enrolled agents to (PTIN) Preparer Tax Identification Number.
  
• Overview of the history of the tax preparer: Make sure the preparer is no doubt the history of the Better Business Bureau and see if the disciplinary proceedings and state licensing boards in the state accounting for the APC, the status bar association for lawyers and the IRS Office of Professional Responsibility of registered representatives.
  
• Know your fees for the service: Avoid preparers who base their fees on a percentage refund or who claim they can get a better return than other preparers.

 

IRS can help many taxpayers prepare their returns without the help of paid processor.

Before seeking a paid preparer, taxpayers might consider how much information is available directly from the IRS through the IRS website.

If you are still looking for the professional tax professional for tax preparation services than,

Contact us here for tax return/preparation services.

Business Accountant – How To Choose The Right Accountant For Your Business ?

03:41 as 0 Comments

From the moment the first sale is completed in any business transaction, an accounting cycle begins. All businesses are required to keep records of revenue, assets, liabilities and payroll for Business Accounting.

Accounting services for business can vary greatly in the actual performance of accounting duties. Some businesses prefer to maintain their accounting services in house. Others outsource their accounting to licensed CPA’s and auditors. The type of business operation usually determines the type of accounting, even with basic accounting principles in place.

Determining Business Accounting Needs:

In many small businesses, accounting can be done once a week. This assumes the business has a relatively low volume of daily accounting transactions. Other businesses require daily accounting due to high volume transactions.

Determine specific accounting needs to engage accounting individuals who are licensed, knowledgeable and have a pro-active sense of planning and tracking accounting records. These individuals should be heavily detail-oriented and capable of spotting weaknesses in accounting transactions expediently.

While scientists study details in data, accountants study details in numbers. To hire a successful accountant, it’s important to review their experience and their specialty. Not all accountants perform general accounting duties, although they may be fully trained to do so. Many business accountants specialize in cost accounting, payables, receivables, general ledger, payroll, tax preparation or payroll. Most business owners choose an accounting individual who has general accounting experience to cover a wider range of accounting.

Why Hire a Licensed CPA or Auditor?

In businesses, accounting tracks daily revenues, profits and losses. At the end of each fiscal quarter, a report is produced on the full record of business quarterly, bi-annually and annually. These reports are required to validate and substantiate the financial state of the business to state and federal agencies. Financial reports must be validated by a licensed CPA or auditor. The job of a Certified professional auditor is to verify all financial records for a designated length of time recorded  as required to comply with state or federal laws and submit to the agency.

Read More :  Business Accountant – Choose The Right Accountant For Your Business ?

If you are looking for the hassle free accounting services for your business, then need to hire an accountant or CPA who can help you from Bookkeeping to tax preparation/Return.

If you are still confused about the accounting or looking for certified accountant then you need to content accounting firm like Account-Consultant.

Contact here for Accounting services as well as Hire an Accountant.

Benefits Of Outsourcing Accounting Services for Small Business

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Outsourcing is a general term used to describe the non-core business processes of the organization to the external vendors for a specified time on a set of predefined performance metrics. It (i.e. Outsourcing work) means coordination with other company to avail their specialization services. In other words get the best person on board to get done the job in a more effective way without hiring him/her. In the past couple of years, Outsourced Accounting Services has gained prominence as more and more organization has adopted the same path. Outsourcing is widely embraced, especially among larger organizations.

Why More Business Are Opting For an Outsourcing Model:

1. Focus on Core Process – Outsourcing Accounting Services allows any organization to concentrate or focus on core area by outsourcing non-core area. The same makes organization extremely lean and agile, thereby allowing the Top Management to devote more time to the very purpose of their existence i.e. the customer. They can spend more time on understanding the customer better need and serve them by understanding his/her tastes, preferences, changing trends etc.

2. Cost Cutting/Saving – By outsourcing for accounting firms have been able to achieve cost reduction of as high as 40 percent. Outsourcing vendors are able to achieve this due to their economies of scale for each process. They spread fixed cost over large volumes of transactions spread across multiple customers. Outsourcing Accounting Services also have the flexibility of going to the lowest cost locations to perform the job. Since the outsourcing vendors use the latest technology and best practices, they can streamline the processes better and achieve optimum results in cost, quality and speed.

3. Reduction of Capital Requirements – By outsourcing the process organization can able to free up both fixed as well working capital required. The can save a substantial amount of money as they need not spend to buy and maintain their system; reason being outsourcing vendor does the needful and align the best practices in the process.

4. Best Practices – Since outsourcing accounting services specialize in specific processes, over the time they acquire expertise which not only helps in saving the time but help in improving the process. They are also able to bring best practices at the same time do a re-engineering of business processes which ultimately improve the quality, response time, manpower requirement etc.

At Account-Consultant, we understand your concerns with respect to accounting compliance. Our virtual accounting services hire the best accountants with CA, ACCA, CPA qualification that works with the clients closely in order to understand their delivery and needs. We provide the access to clients with respect to monitoring the financials and required MIS on a real-time basis.

Top 6 Reason to Outsource Payroll services for small business

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Outsource Payroll Services for small business is the least strategic and most time consuming aspects of our organization. It isn’t a question of why but rather why wouldn’t we outsource it to Account-Consultant.

Top 6 Reason to Outsource Payroll services for small business

1. Save Money. Their in-house payroll service did not generate revenue. Having dedicated staff to print and distribute checks and create tax documents just didn’t make sense because we had less than 2,500 employees. Outsourcing the non-strategic, non-revenue generating aspects of their business to a trusted firm who can do it better and more cost effectively made their company more profitable.  A recent study by Price Water-house Coopers found that “85% of all companies that outsource are more profitable.”
   
2. Focus on Their Core. Our clients really didn’t “want their employees (and management) consuming their time on payroll related activities.” Outsourcing these time consuming activities put them to work on more productive assignments. While we were focusing on their payroll, they were be able to focus more closely on their core business activities. In today’s economy, razor sharp focus is critical to operational excellence which is the real driver to giving them a competitive advantage.
   
3. Accuracy and Accountability. Our staff are payroll experts. Our Payroll Administrators have an average of 13 years experience in running complex payrolls.
   
4. Reliability. Vacations. Illness. Turnover. New hires/Training to Get Up To Speed Quickly. These payroll processing problems are a thing of the past when you use the outsourcing payroll services for small business of Account-consultant.
   
5. Regulations. They wanted to be “up to date on all payroll-related tax laws and regulatory mandates for federal, state and local authorities.” Currently, the 2nd most common lawsuit in the US is Wage and Hour which falls directly into the category of payroll expertise or lack there of.
   
6. Hassle free. Our People-Process-Technology model for best practices eliminates all the payroll hassles.

 Finding a Reliable Payroll Management Service:

As a business owner or payroll manager you have a number of options for your payroll functions. Software that can be installed in-house, or cloud-based programs offer a good alternative. But if you really want to take full advantage of the benefits available to you, outsourcing to a provider like Account-Consultant can still be the best decision.

Flexible Outsource Payroll services to Fit the Needs of your Business.

How Virtual Bookkeeping Services Effects the Business Accounts

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Accounting Tips for Small Businesses to Keep the Books Balanced Accounting

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Accounting plays a vital role in businesses of every size but often becomes a low priority for small business owners, Here discuss about the Accounting Tips for Small Businesses, specifically, as they juggle all the other responsibilities of managing and maintaining day-to-day operations. However, accounting should never be treated as an afterthought.

Accounting Tips for Small Businesses can help financially forecast months into the future and alert you to potential financial gaps. The right accounting insight could even help you save your business in case things get tough.

Top Accounting Tips for Small Businesses:

1. Pay Close Attention to Receivables:

Getting paid is the most exciting part of running a business. Managing your receivables isn’t quite as much fun. When an invoice is issued, you record a receivable, meaning you log that a customer owes you money. By checking this listing you are able to easily see if a customer has an outstanding balance.

2. Keep a Pulse on Your Cash Flow:

When it comes to small business accounting tips, cash is everything. The more you understand the numbers in front of you, the greater your odds are at managing them well.

As you perform weekly and monthly financial reviews, consider producing a cash flow statement. These statements give you a broader understanding of cash movement within (and outside) of your company. A cash flow statement essentially monitors income direction. It also includes the element of time, enabling you to visualize payment cycles and seasonal expenses.

3. Log Expense Receipts:

Unfortunately, it is a common mistake for small business owners not to save copies of their expense reports. This can result in a wide range of tax, accounting, and cash flow issues.

4. Record Cash Expenses:

When you are an entrepreneur it is crucial that you track all the expenses related to your business. That way these costs can be subtracted from the amount of your total income when it comes time to do taxes.

5. Hire a Professional to Handle Your Taxes

Many people try to save money by doing their taxes themselves. In reality, if you don’t hire a professional, not having access to their accounting expertise can cost your business a lot of money down the road.


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Maintaining Your Books with Account-consultant

Account-Consultant combines the use of advanced software with the guidance of accounting professionals. Our customers benefit from a team of trusted, in-house experts ready to meet your accounting needs. Top Accounting Tips for Small Businesses to help you in manage your accqounting & Financial needs.

Our powerful software integrates with a variety of accounting software partners, such as  Xero and Quickbooks, to automate monthly reports and free you to focus on the success and expansion that you strive for with your small business.

When you are ready to hand off the chore of accounting and focus on the business you love, Account-Consultant is your financial headquarters. We have powerful software that can save you time and money to get started today.

Contact us here for Accounting & Bookkeeping needs.

Importance of Hiring Bookkeeping Services for small Business

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Bookkeeping is an important aspect in any business. You name it: supermarkets, manufacturing firms, newspaper publications, and clothing stores. All of such businesses need a kind of bookkeeping services for small business to keep tab of where its profits and investments are going or how, through bookkeeping data, can the establishment could improve its profitability and competitiveness.

It comes as no wonder then if bookkeepers are now offering their services via the Internet. This is because bookkeepers continue to be in demand up to this point in time notwithstanding the fact that the computer software market is filled with bookkeeping software that aims to make manual, online or otherwise, bookkeeping obsolete.

Thus, hiring an online bookkeeping services for small business redounds to being a sound investment among business owners because for one they will be assured of quality service and output. Secondly, it’s hassle-free. A business owner need not meet the bookkeeper himself in person; he only needs to contact him via emails and other such online means to be kept posted of bookkeeping developments.

Benefits of Hiring Bookkeeping Services for small Business:

• With an outsourced bookkeeping service, companies would now be able to focus more on the more important and major processes of the business. The accounting as well as the inventory parts of the business should already be taken care of by the professional online bookkeeping firm that the company has hired.
  
• The outsourcing should also bring about some savings to the company, as this would mean that the corporation would no longer need to hire accounting personnel, therefore, wouldn’t have to pay for their salaries and benefits.
  
• Hiring an online bookkeeping service would also help the corporation be operated in a more efficient fashion, as most accounting and inventory reports that company management would like to see is but a click of their fingers. Internet-based bookkeeping firms and personnel are that fast and efficient. Executives need not wait days or weeks for such reports to be produced by an entire accounting department.

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Contact us here for Virtual Bookkeeping services for small business.