Many small- and mid-sized businesses fail to adequately measure and manage their finances, even though poor financial management is a major cause of business failure. If you don’t have good financial practices in place, your business could suffer in several ways:

• Lost revenue
• Insufficient tax planning
• Missed financial opportunities

A great monthly accounting service will handle your profit and loss statements, monthly balance sheets, and regular account reconciliation to help you take back control of your finances without much effort on your part.

Monthly accounting services provide substantially more value than only an annual service. If an accountant only sees your numbers once a year, it is too late to offer advice that would have helped to make that year more profitable – and too late to lower your tax liability for a year that is already over with.

• It saves you time
• You get regular business profitability advice
• You have peace of mind that your finances are handled
• Your tax liability is reduced
• You can make more proactive financial decisions.

Truthfully, not all business owners see the need, but our clients sure do! We provide consulting and business advice throughout the year. Our proactive approach allows you to see trends earlier and spot any issues before they become larger problems. Monthly financial statements are a tool to stay on top of your business, which allows you to focus on growing your profits.

Pricing for our payroll services includes a base fee, which is based on:

• The frequency of your payroll
• A fee for each employee
• The number of W-2s that need to be filed

Other contributing factors include:

• Garnishments
• New hires
• Doing business in other states

Our monthly accounting process starts with receiving your source documents. Our staff compiles the information and reports back to you with a profit and loss statement, balance sheet, and general ledger. These monthly financial reports are presented in digital or hard copy form and become the foundation for our monthly conversations.

If your business is too small to hire an in-house accountant or you simply don’t have the desire to do it yourself, you should consider outsourcing the task. While QuickBooks is used by many small business owners, the software can be more complicated than first realized. By outsourcing your accounting, you free yourself to focus on other aspects of your business.

To efficiently help you with your business goals, we require access to your source documents — either in electronic or hard copy form. Common documents include, but are not limited to:

• Bank statements
• Credit card statements
• Sales systems (POS)
• Software (i.e.Quickbooks)
• Inventory
• Accounts payable
• Accounts receivable

Depending on your level of expertise, we will train clients on how to prepare these documents. What we require from you will be customized to your unique business.
Have questions about what we would need from your business? We can tackle that in a free consultation!

Outsourcing payroll saves time and money. It is actually less expensive to have an outside service process your payroll when you factor in all the variables. You also get the peace of mind of having a payroll professional making sure that you are in compliance.