There are many demands on a business owner’s time. As much as the owner would like to be able to be completely hands-on with every aspect, the owner only has so much time in a day.
For many busy business owners, outsourcing their bookkeeping to an accounting firm just makes sense. It is one of the tasks that can be greatly time-consuming and also very expensive to bring a bookkeeper in-house.
AA Tax and Accounting Services offers top-notch bookkeeping services to St George and Cedar City business owners. Below are five of the major benefits your business with receive when working with AA Tax and Accounting Services.
Let Your Accountant Deal With General Ledger Management
Since a business’ general ledger one of the key ways a business tracks their financial transactions, it is key that it is maintained properly. However, it can be a tedious task that can cut into time which could be more profitably spent.
By allowing a bookkeeper manage your business’ general ledger, you won’t have to spend another afternoon trying to make sure all your accounts are balanced.
Bank Reconciliation Handled By Your Accountant
The work of balancing your accounts doesn’t end with your business’ general ledger. Another excellent bookkeeping service offered is bank reconciliation. An accountant will regularly audit your business’ cash statements versus your business bank account. By doing this, the accountant can:
- Detect/prevent fraud
- Detect/prevent embezzlement
- Correct company records
- Assess penalties
- Track cash flow
Receive Accurate Income Statements
Having accurate income statements are key for business owners so they can see exactly how their business is performing.
The bookkeeper will prepare an income statement for a set period of time. In that report, business owners will generally see:
- Gross profit
- Cost of sales
- Profit before tax
Depending on the business’ needs, this report can be created with more detail so that the owner can track the various aspects of their business.
St. George Accountants Can Manage Your Accounts
Business owners can waste hours keeping track of their account payables and account receivables. The duties surrounding these types of accounts are distinctly different, which all could be managed by a good bookkeeper.
Once you turn over the management of these accounts to a bookkeeper, you will never need to scramble to find and pay an invoice or organize another deposit receipt.
Stay On Top Of Your Bookkeeping Reports
There are a large variety of financial reports that your bookkeeper can generate. That way, you can have a quick and understandable way to see how your business is doing. AA Tax and Accounting Services is ready to customize your reports so that you can have exactly what you need to keep your business on track.
Feel free to contact us today and start enjoying more financial security by entrusting your bookkeeping to AA Tax and Accounting Services.