Why can’t I do the bookkeeping myself?-
It may be more efficient, in terms of time and money, to outsource bookkeeping to a firm rendering professional services. Bookkeeping should be done by an accountant to ensure books are kept efficiently, effectively, and correctly.
How much time and money can I save if I outsource accounting/bookkeeping?-
Simple bookkeeping would take at least 3-5 hours a day if performed by a CPA. This time may be better spent managing the operations of the business.
Hiring an in-house CPA to perform accounting, tax compliance, and payroll tasks may cost more than the professional fee of a firm that can perform the same tasks. The firm would also have the contractual obligation to ensure continuity of services regardless of any changes in its manpower.
10 Reasons Why You Should Use QuickBooks
QuickBooks is the ideal business accounting software for small to mid-sized business owners. Here's 10 reasons why you should be using QuickBooks.
You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.
You can easily generate the reports with the information you need, so you always know where your business stands. You instantly know whether you're making money and whether your business is healthy.
You save money because QuickBooks is so affordable. You can use it to run a $5 million or a $25 million business for a few hundred bucks. PC accounting software is truly one of the great bargains in business.
Your business can grow with QuickBooks. QuickBooks will help you design a business plan to use when trying to secure a small business loan or line of credit or to plan for the future. QuickBooks will create a projected balance sheet, profit and loss statement and statement of cash flows in the format recommended by the U.S. Small Business Administration.
You can customize QuickBooks to work the way you want. QuickBooks is specifically designed to be flexible and adaptable to a wide range of small businesses. To broaden its appeal, QuickBooks has recently added customized accounting packages for Contractors, Retailers, Health Care Professionals, and Non-Profit organizations.
You can rest assured knowing that QuickBooks is a stable, reliable and proven product. Hundreds of thousands of small businesses throughout the world have chosen QuickBooks as their accounting software. You can't go wrong with a software program with such an extensive installed user base.
You save typing time and errors by sharing data between QuickBooks and over 100 business applications. You can even share data with popular programs, such as Microsoft Excel, Word, Outlook and ACT.
You will get paid faster with QuickBooks online payments. E-mail an invoice or statement and with QuickBooks Online Billing, your customer can easily pay you with a credit card or bank account transfer. No more waiting for the check in the mail!
You can easily accept Credit Cards. With QuickBooks Merchant Account Service, you can accept credit cards with ease. QuickBooks Merchant Account Service is the only credit card acceptance service integrated with QuickBooks software, which means you don't have to enter the same data twice. No additional software or hardware is required. Your customers can use Visa, MasterCard, or American Express.
You can pay your bills and bank online. Setup your current bank account in QuickBooks, and you're ready to pay your bills without licking envelopes, sticking stamps, or printing paper checks. Just write checks in QuickBooks as you normally would, then click a button and your participating bank does the rest! Pay anyone in the U.S. from your credit card companies to your pizza service. Online Banking also lets you download your monthly statement from your participating bank directly into QuickBooks for easier reconciliation.
What is Tax Preparation?-
Preparing your own income tax return can be a task that leaves you with more questions than answers. According to a study released by the US Government's General Accounting Office last year, most taxpayers (77% of 71 million taxpayers) believe they benefited from using a professional tax preparer.
Whether we like it or not, today's tax laws are so complicated that filing a relatively simple return can be confusing. It is just too easy to overlook deductions and credits to which you are entitled. Even if you use a computer software program there's no substitute for the assistance of an experienced tax professional.
What is Tax Planning?-
Planning is the key to successfully and legally reducing your tax liability. We go beyond tax compliance and proactively recommend tax saving strategies to maximize your after-tax income.
We make it a priority to enhance our mastery of the current tax law, complex tax code, and new tax regulations by attending frequent tax seminars. Businesses and individuals pay the lowest amount of taxes allowable by law because we continually look for ways to minimize your taxes throughout the year, not just at the end of the year.
Won't I lose control if the books are done by an outside service?-
The short answer: No. You actually have more control since you'll have accurate, up-to-date financial statements at your fingertips. You'll have more time and money to plan instead of simply reacting to business events.
How can having an outsourced accounting department help me manage my business?-
By outsourcing your accounting position(s), your company doesn't have to endure the hiring process and lose valuable time and money training bookkeepers, accountants or financial controllers. If you have been doing the bookkeeping yourself, you finally free up your time to focus on other aspects of growing your business. You'll be able to make informed decisions based on more than just your cash balance at the bank.
An outsourced accounting department gives your company accurate financial data so you can determine what customers and/or products are the most profitable. You can concentrate more time on the most successful aspects of your company. This capability allows a business owner to become truly savvy in investing energy and resources in the right places. The door is left open for you to do the tasks that are most important to your company's financial success. Using AccountingDepartment.com, you maintain full, round-the-clock control of and access to your information, while we perform all of your bookkeeping tasks and update your accounting records. Truly the best of both worlds.
Why outsource my accounting department?-
Let a professional do a professional's job. If you are like most business owners and CEOs, you take full pride in the services or products your company provides. You want to focus your time and energy on business strategy and goals. Outsourcing the accounting department to a dedicated, highly skilled professional services firm allows you to do exactly that. By outsourcing your accounting to AccountingDepartment.com, you'll save valuable time in your day, reduce operating costs and gain peace of mind.
Does my accountant have access to my books?-
Only with your express permission! By allowing your accountant to access your data, your accountant can review or change your data files while you are also using the accounting software. This can be accomplished without you having to make a backup or having to stop using the system while your accountant is working on your data. You can continue with your work without any interruptions. No more running backup flash drives to your accountant. This alone adds up to a huge savings in time and money.
Who controls the money and makes the decisions?-
You have 100% control of all money and the decision on how it is used or invested. You decide what individuals and which vendors get paid. We provide the data, but you approve all invoices for payment and sign all checks.
Do I have to leave my current tax accountant?-
Of course not. We are offering to take away your bookkeeping headaches. Your current accountant will be grateful for accurate data that he or she can use to help you build more wealth and grow your business. But if you'd like, we would be glad to talk to you about providing business and individual tax preparation services. AccountingDepartment.com is prepared to be a one-stop solution for all your financial needs.
How do I access to my accounting material?-
AccountingDepartment.com is its own application service provider (ASP) which hosts your bookkeeping software and data files. At any time, from any internet-accessible computer, you may use your password to access your accounting records. This is the same procedure and technology your bank, medical record keepers and the IRS use to access and process information. Your files are always up-to-date and always accurate. Your data is secure, and our servers are dependable, with 100% backup running in real time.