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Archives for June 2014

This, not that: Why Quickbooks Services Are Right For You

QuickBooks has earned an extraordinary reputation among small and medium sized businesses for assisting them in keeping track of their business finances efficiently. Although QuickBooks has a reputation that often can’t be challenged, it is not necessarily the easiest application to use. You may be considering training to learn how to manage QuickBooks. Trust us, you may be eyeing alternatives to quickbooks services, but they’re not for you. We can show you examples of why quickbooks services is right for you.

How can QuickBooks help your business?

QuickBooks has the ability to improve your daily operations by keeping your finances in order. It is the ultimate tool to:

  • Organize your finances all in one place
  • Easily create invoices and track sales & expenses
  • Get reliable records for tax time
  • Manage customer, vendor, and employee data
  • Get a consolidated view of your business with Company Snapshot

These features will keep your business running smoothly and your finances in good condition.

Why should I use a QuickBooks service?

Using a QuickBooks service will ultimately save you time, many mistakes, and frustration. Although the software is user friendly, it can seem complicated and a little intimidating to beginners. A reputable and professional service can quickly get you started. Why not let an expert guide you through your QuickBooks experience and help you get back to your expertise, which is running your business.

 

What type of help will I receive with from a QuickBooks Service?

A QuickBooks service can provide assistance with initial set-up, ongoing maintenance, and training. The initial set-up will include installation and customization according to your business. With the ongoing maintenance service all checks, deposits, invoices, bills, and credit memos will be entered for you.  Training will give you a basic understanding of the software and features so that you will have the knowledge to maintain your records yourself. There is a great amount of flexibility with a QuickBooks service and you have the opportunity to choose which aspects would be the best options for your business. To discuss your service needs, or anything else, please contact us. Thanks.

 

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How medium size business accounting is different as you grow

As your small business evolves, your accounting needs can become complex and it is important that you are working with an accounting firm that has the experience and the knowledge to support your growth

Choosing a firm that specializes in medium size business accounting can be a very important decision.  As your business has grown, you have come to depend on timely financial statements and ideally, your accounting firm is providing consulting on how to manage for growth.

As you grow it will be important to document all systems and processes, manage out complexity, streamline internal operations, insure there is continuity from one department to another, train your management team and staff members and more.

You will want your accounting firm to be closely involved in all of these aspects of growth because they have worked with other companies and can leverage those experiences for you.

Here are a few of the typical attributes of a Small to Medium Sized Business as identified by American Institute of CPA’s (AICPA) :

  • The entity may be closely held and owner-managed.
  • Owners and management have no intention of going public.
  • Management and owners rely on financial statements to confirm their assessments of performance, cash flows, what they own and what they owe.
  • Key users of the financial statements have direct access to management.

It has often been said that starting a business is easy, it is growing a business that is hard!

If your business is growing, please contact us to understand how we can help.

 

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What to look for when you need accounting consulting

While it is true that accounting is not one of the most exciting aspects or running a business, it can be one of the most important!

The firm you choose to provide your accounting consulting can often mean success or failure in your business. Yes, it is that important!  As a small business owner and consultant, I have seen far too many businesses go into business without having a good understanding of how they will track their success.

Accounting is the language of business and if you don’t know how to read a financial statement yet, I suggest that you learn how and fast.  Take the time now to locate an accounting firm that will take the time to explain how to understand your profit and loss statement.

You will want to choose a firm that works with other small business owners in your industry.  They will know what kinds of issues are important to your industry.

For example, if you are starting a restaurant business, they will understand issues like tip reporting, menu pricing analysis and sales tax audits.

If you are a construction company, they can help you with accounting for percentage completion contracts, labor laws and more. There are many very specific tax rules that apply to the construction industry and you will want to know that your accountant understands them and how they impact your business.

If you are the owner of a retail business, you will want to know that your accountant has worked with other retailers and knows about cash register tracking, inventory valuation and the importance of internal controls for your business.

To learn how accounting consulting can help your business, contact us today.

 

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