As a small business owner, it is important to prioritize which area of your business requires more of your direct attention. Many times, this means you need to switch between being a marketing manager, salesperson, customer support representative, bookkeeper, and more. Business owners have limited time, and understanding the many laws and regulations surrounding business finances takes more time that business owners can devote. This lack of time and understanding can create difficulties later.
To help you avoid these difficulties and improve the organization of your business finances, an accountant can help you in multiple ways.
1. Work With AA Tax & Accounting Services To Develop An Efficient Bookkeeping System
Having an effective bookkeeping system is the lifeblood of any business. Without one, vendor payments can be missed, expenses unaccounted for, and other disasters which can easily topple a small business.
An accountant can significantly improve your bookkeeping by providing:
- Bookkeeping software – Our accountant can advise you on which bookkeeping software would best suit your business and help you set up your account. However, this solution still requires a significant amount of oversight from you, to track to ensure things are recorded correctly and to upload various expense reports.
- Outsourced to accountant – Many business owners choose to outsource their bookkeeping to our accountant to ensure an experienced eye is watching their accounts. You can also choose to hire an in-house bookkeeper, but often, this expense can be hard on a small business, while outsourcing your bookkeeping is significantly more affordable.
2. Receive Tailored Business Consulting
One of the many services accountants offer is business consulting. Depending on your accounting needs, this consultation can cover a range of topics. Some of what AA Tax & Accounting Services, LLC, can consult with you on are:
- Business planning and development
- Ideal entity structure for your organization
- How to structure business finances (i.e., choosing a bank, separation of business and personal finance, etc.)
- Revenue recognition strategies
3. Allow Our Accountant To Organize Your Payroll
Having even one employee on your payroll can increase the difficulty level of your bookkeeping, as payroll is not merely paying your workers on time, though that is important. You will need to:
- Track payroll for your employer taxes
- Liability insurance payments to cover your business in case something happens to your employees
- Sick and vacation pay accrual
- Payroll disbursement
- Hourly and salaried employees hours tracking
- Workman’s compensation
- Unemployment payments
This payroll list will become more complicated as your business grows. Our accountant can be an invaluable asset, as he can organize and set up your entire payroll system to work seamlessly behind the scenes and ensure you and your employees are satisfied with your payroll.
4. Review Regular Reports With AA Tax & Accounting Services
With the help of an experienced accountant like Adrian D. Anderson, you can see real-time reports of all work-related financial standings. Outsourcing this time-consuming portion of running your own business frees you up to manage more enjoyable aspects of working for yourself.
Of course, you will not be cut off from how your company is doing financially. Adrian will supply a variety of reports to help you maintain an organized view of how your business is operating. Some of the reports offered by our accountant are:
- Income statements
- Balance sheets
- Expense reports
Our accountant can also create customized reports to suit your business’ financial needs. Both the reports listed above and customized reports will greatly aid in your ability to make more beneficial decisions for the growth of your company.
5. Confidently Delegate Tax Prep And Filing
Organization is vital when it comes to filing your business taxes. Our accountant often acts as a tax consultant for small businesses. With his help, businesses can have their taxes calculated, have all their eligible deductions applied to their taxes, and have their taxes filed on time by our accountant.
Also, AA Tax & Accounting Services stands by its accounting work. If your taxes are audited, Adrian will work with you to resolve any issues and work with the IRS to correct your taxes.
If you feel you may need an accountant for your business or personal taxes, contact us to set up an appointment with our accountant and see how he can organize your finances.
Other services AA Tax & Accounting Services, LLC offers:
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