Tag Archives: bookkeeping

The Importance of Hiring Quality Bookkeeping Services

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Bookkeeping mishaps can cost millions. New York City’s 911 systembookkeeping services you can rely on from goodaccountants.com was revamped, with an audit discovering significant overpayments and the ultimate accounting nightmare. The audit found that poor bookkeeping may have cost taxpayers up to $24 million.

Can you imagine the impact errors like these could have on a small business?

A mistake like that could easily shut down many businesses.

Some business owners mistakenly ask their receptionist or another staff member without the necessary expertise to handle the books, in an effort to save money.  But this is often a big mistake that costs more in the long run. Utilizing highly qualified bookkeeping services such as those you’ll find through GoodAccountants.com will actually help you save money over time and avoid financial disaster like the situation in the Big Apple.

Without the right background and experience, even the sharpest employee on staff is far more likely to make errors that may not be apparent until it’s too late.

Using high quality bookkeeping services will ensure that when a bill arrives, not only is it paid on time, but the invoice is accurate; the auditors in the case above found that Hewlett-Packard invoiced the city for more hours than what was approved in time sheets and even charged $192 per hour for menial tasks, such as opening a door for visitors. This is something that a good bookkeeper would catch immediately.

Meticulous bookkeeping services will also help you to make sure your customers aren’t paying late, keep accurate records, save you money by helping you to avoid late payments and other fees, potentially save thousands of dollars to the IRS that can be incurred due to poor record keeping, and much more. This will also help you to discover where costs can be reduced. Bookkeepers are able to analyze to look for savings and find lower overhead costs for insurance and other expenses, or even ensure that tax breaks aren’t missed.

If you aren’t sure how to find the most qualified experts, all you need to do is contact the consultants at GoodAccountants.com. The service comes at no cost to you, and you’ll have the peace of mind knowing you’re getting the best bookkeeping services for your business.

How Small Business Accountants Can Benefit Your Company

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small business accountantsOwning a small business can mean financial freedom or financial disaster depending on the decisions the owner makes when it comes to accounting practices. Many owners make the mistake of trying to handle every task in the organization themselves including the finances without realizing the time and knowledge that is really necessary for a smooth running, successful business.

Small business accountants can be a priceless asset for keeping your organization on the path to success.

Bookkeeping

Bookkeeping is a necessary part of any business – without detailed, accurate records of financial transactions it will be difficult if not impossible to predict future gains or losses. Proper bookkeeping can help you avoid a major financial crisis, not something that someone without the right expertise should be handling. A business owner should be out networking and growing the business, and leave the bookkeeping to professionals like small business accountants who are trained and knowledgeable on correct accounting practices.

Setting up the financial side of the business

Small business accountants can help a new business owner by providing useful advice on short and long term financial strategies as well as the financial structure that will serve as a guide for all of your business operations, including setting up taxation and registration as well as filing corporate tax returns.

Many can assist or actually set up the accounting software that will work best for your organization and even provide training.

Payroll

Payroll is one of the most time-consuming of accounting tasks and small business accountants can help standardize a payroll system as well as handle payroll management, preparation, tax reporting and setting up direct deposit systems.

Taxes

Business taxes are, of course, a necessary but complicated part of running a business. Handling this aspect of the organization while trying to comply with complex government regulations can be a huge headache in addition to being a nearly full-time job in itself.

By hiring professional financial experts, you’ll save money on taxes as well as the time and stress it takes to get all of this done. Tax reporting and tax planning advice that allows the owner to maximize business tax deductions will often pay for the expensive of service and then some.

GoodAccountants.com offers an invaluable – and free service, locating qualified, experienced small business accountants with expertise in your industry to successfully handle every financial aspect of your business – allowing you to focus on taking your company to the top.