by Karla Dennis | Mar 26, 2014 | Blog
With the Small Business Tax Act from 2010 came a number of retirement plans to drop your taxes.
by Karla Dennis | Mar 22, 2014 | Blog
There are a lot of businesses that choose to outsource their bookkeeping services to a private company. It is a great way to have your bookkeeping needs met, and it can save you money because you don’t have to provide benefits or incentives to a private employee. While this can often be a good financial choice, many businesses aren’t sure exactly what role a bookkeeping service will play in their company. The first thing you should know about a bookkeeping service is that they are not a CPA firm and they are different from accountants. Bookkeepers will keep track of the ledger that outlines your company’s expenses. They do not forecast or find ways that you can save money. An accountant has gone to college to learn about the way the money in a business can be successfully run and a bookkeeping service will keep track of the money. A bookkeeper will not normally deal with your taxes either, that’s a CPA’s job. Another role that bookkeepers don’t cover is that of payroll. A business will normally have another person that takes care of payroll, and a bookkeeping service will be in charge of entering all the money that comes and goes from the company. One valuable role a bookkeeping service will play in a business is that of setting up a company’s financial records. They make it possible for businesses to easily enter in data about the money being spent. They can also serve as trainers. As a business grows and changes, the roles of employees can change as well. In fact, there are many people that take...
by Karla Dennis | Mar 19, 2014 | Blog
Stop trying to figure out what is deductible and what isn’t. Let the pros who know the code...
by Karla Dennis | Mar 18, 2014 | Blog
There are many different types of businesses that allow for a flexible schedule. In fact, even in businesses that run on a normal business week there is room for flexible bookkeeping service to handle books. If you have a business that doesn’t need a fulltime bookkeeping service to handle your books, there are pros and cons to having a flexible time schedule. First, some of the cons of flexible bookkeeping service are that it is easy to let the book go on the backburner because there are specific times that you focus on bookkeeping. It takes a lot of discipline to make time for bookkeeping. Even with a flexible schedule you have to put bookkeeping first or you will find that it is easy to get behind on the things you need to do. Another common problem with a flexible bookkeeping schedule is that it is hard to be fully engaged in the work. When you come and go often, it can take time to figure out where you left off. That extra time can cause inaccuracies in the books or there is simply extra time that you have to pay for while the bookkeeper finds out where they last left off. Other the other hand, there are advantages to having a flexible bookkeeping service. It can save you money when you don’t have bookkeeping services around all the time. They can come and go as needed so you don’t have to pay for a service you don’t need. Also, it seems like many employees enjoy some freedom and trust from their boss. Often that trust that is given...
by Karla Dennis | Mar 14, 2014 | Blog
It seems like poor bookkeeping often takes a few months or even years to really sink in for businesses. At that point, it seems like there is no way to really sort through all of the issues that you have at hand. If you find yourself in the middle of a bookkeeping nightmare, here are some of the ways you can get those books figured out. First, think about the reasons behind the problems. Some of the main bookkeeping problems come from incompetent bookkeepers; unexperienced family members taking over as bookkeeper, do-it-yourself bookkeeping, or even having such tight time constraints that you neglect the important task of bookkeeping. Whatever the reason for the lack of successful bookkeeping there are some things that you can do to remedy the situation. Before you just throw away all of your bookkeeping, it is best to identify the problem areas so you don’t repeat the same problem. If it is neglect, you may consider hiring a bookkeeping service. Whatever the reason, don’t put the books away until you’ve made an effort to fix the problem for good. Second, you need to understand how the different kinds of accounts work with Quickbooks. The program can be very effective if you understand how to classify each of the accounts and transactions that move through your business. If you are unsure how to organize your bookkeeping, it might be a good time to bring a professional to help you at least set up your accounts. Finally, don’t completely trash all of your books. It will be hard to measure your business success or shortcomings if you...
