khateam, Author at Forrestersaccounting

Best Practices for Hiring a Bookkeeper for a Small Business in Sacramento, CA

Posted on June 28, 2024July 24, 2024 by khateam

Are you looking to streamline your small business finance in Sacramento, CA?

Wondering how and where to find the perfect bookkeeper to keep your books in order?

Looking to hire best practices for your small business needs in finding that super bookkeeper?

What if you could find expert tips on choosing the right bookkeeper to ensure financial success for your business?

Stay tuned as we reveal some critical tips and considerations for hiring a bookkeeper who will fit your small business perfectly. Buckle up as you take your financial management to the next level, ensuring your business is set up for long-term success.

Key Takeaways

Importance of Bookkeeping: In Sacramento, CA, it cannot go unnoticed that most small companies need to apply proper bookkeeping.
Understanding Bookkeeping Basics: The emphasis is on the basic knowledge needed to maintain adequate financial records.
Finding the right bookkeeper: Spending more time searching for a bookkeeper that matches the business’s specific needs and values.
Outsourcing a Freelance Bookkeeper: It considers the benefits and challenges a small business may encounter by engaging a freelance bookkeeper.
Ideal Bookkeeper Qualities: used to identify key characters such as attention to detail, reliability, and proficiency in bookkeeping software.
Evaluating Bookkeeping Experience: The need to identify a bookkeeper with relevant experience and a good track record.
Effective Communication: Emphasizing that the business owner and the bookkeeper should always be open and transparent with their communication.
Seamless Transition: How to ensure a seamless transition while onboarding a new bookkeeper.

Importance of Bookkeeping

Small Business Needs

Small business in Sacramento, CA, has its needs depending on the size and the industry where the company belongs. There is a necessity to understand this specificity towards efficient management of their finances. For example, for a retail business, the need might revolve around keeping track of inventory, while a business that provides services might need to make sure they are on top of invoicing. The financial challenges of small businesses in Sacramento involve fluctuating cash flow and competition. Recognizing these impediments, businesses can now plan bookkeeping strategies that can face such impediments and counterbalance them. This would ensure better financial stability and scope for growth. A small business must consider the cost-effectiveness of hiring a professional bookkeeper while budgeting for bookkeeping services. The balancing act of such expenses versus the benefits accruing from having proper and correct financial records is necessary for long-term success and compliance.

Benefits of Bookkeepers

Using a bookkeeper for your small business saves time, enabling you to focus on core operations. Through proper handling of routine bookkeeping tasks, the professional frees up more time for one to use in making strategic decisions and other matters that concern the growth of the business.

Professional bookkeepers ensure all financial records are done accurately and reliably, leaving no chances for error or discrepancy. The professional has gained vast experience, which will be used in ensuring that the given financial reports have been prepared accurately so that an informed decision can be made and trust created among the stakeholders.

Bookkeepers are essential for maintaining compliance with local regulations and tax laws. Since they are continually updated regarding the changes in the rules, they help small businesses avoid penalties and legal tussles, hence working smoothly within the law.

Consequences of Neglect

Neglect of the proper bookkeeping practices can expose a small business to financial risks, such as mismanagement of cash flow or inaccuracy of the budget. Without appropriate financial data, the company might be unable to make appropriate and informed decisions or secure funds for further expansion.

Such inaccurate financial records may hamper decision-making processes. Forecasting, budgeting, and being able to pinpoint places for improvement in the absence of reliable data can thus make businesses work with some difficulty.

Neglect of bookkeeping can finally result in grave penalties and legal issues because of not conforming to tax regulations. Lack of proper records may land a business in audits, fines, or even legal battles for failing to file correct information and reports.

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Understanding Bookkeeping Basics

Bookkeeping vs. Accounting

Though accounting can be said to be closely related to bookkeeping on matters related to the business’s financial status, still either of them will have its peculiarity. Bookkeepers accurately record day-to-day transactions in an organization and will thus handle an organization’s books. Accountants analyze future-oriented strategies of the firm and develop action plans.

Common Tasks

Bookkeepers perform essential tasks, such as recording transactions and reconciling accounts, to ensure accuracy in finance. Besides that, these accountants help to keep financial documentation in good order, making it convenient and easily accessible or referable in case of auditing or analysis. They also help compile financial reports that turn into insights for decision-making.

Leveraging Technology

Technology of the day has the potential to enable bookkeepers to do their work much more quickly and accurately than ever before. Bookkeeping software, for example, automates most financial tasks, increasing productivity and reducing errors while performing those tasks. Such more recent cloud solutions enhance access and security in keeping financial information to ensure that it is both accessible and confidential. Bookkeepers need to keep updated on the nature of technological changes, to ensure they remain relevant and competitive.

Finding the Right Bookkeeper

Certified Professionals

What can’t also be overemphasized is the necessity for hiring a certified Sacramento small business bookkeeping expert; they do not only bring some authenticity but also some form of knowledge in your financial operations. Certifications such as CPA or CMA offer guaranteed quality service.

Bookkeepers are certified after extensive training and successful passing of examinations. This represents more than just simple bookkeeping; these people are in a position to offer strategic insights into the financial areas of your business. If you hire someone certified, you can bet there will be proper records kept and sound management advice dealt with in your finances.

Experience Matters

In hiring a bookkeeper, take into consideration experience as much as qualification. With much knowledge and best practices at their fingertips, experienced bookkeepers will most likely have dealt with many different financial scenarios and thus can give informed advice on your business finances.

An experienced bookkeeper will save time, iron out the processes, help find possible pitfalls in the future, and assist you in making a solid decision. The proven track record the experienced bookkeeper brings with them shows that they are capable and competent enough to execute the different complex financial tasks appropriately.

Software Skills

Bookkeepers are supposed to have, at the very least, some software knowledge for sound information management in their finances. One should be able to work with some essential accounting software such as QuickBooks and Xero.

These allow bookkeepers to efficiently organize financial information, create reports, and accurately monitor expenses.

Advanced software skills lead to increased pace and accuracy of bookkeeping, thereby reducing errors and ensuring compliance. Bookkeepers with advanced computer capabilities can automate tasks repetitively, freeing time for analysis and strategic planning.

Hiring a Freelance Bookkeeper

Guide to Selection

While hiring one of the freelance bookkeepers for your small business, you need to state what kind of qualification is required for the incumbent position. Look for a tested bookkeeper who can efficiently handle books of accounts tasks. Observe how they are a good fit for your business needs and work culture.

Recruit a bookkeeper by conducting thorough interviews directed at skill assessment and problem-solving. Verify experience and reliability in references whom you contact. They should hold professional certifications and be vetted as required to perform bookkeeping processes.

Workflow Integration

Freelance bookkeepers will integrate flawlessly into your business workflows. They should be able to use connectors within accounting platforms for seamless cross-communication with sales, inventory, POS, ecommerce, and CRM systems. This integration ensures efficient data flow across all operational functions.

It is essential to have fuel that will gear the bookkeeping process to other operational functions to sustain proper books of accounts. You can only enhance productivity and make your financial operations flow seamlessly if you ensure that your bookkeeper understands how your business flows. Clear communication channels are very vital to any successful workflow integration.

Communication Channels

Communication channels between bookkeepers and business owners must be open and transparent. The working relationship grows during updates and feedback that go back and forth. Utilize the use of emails, phone calls, and meetings as communication tools to keep good communication.

Effective communication between the bookkeeper and the business owner improves coordination, allowing financial tasks to be completed accurately and in a timely fashion. Transparency in sharing information and discussing difficulties encountered leads to better decision-making processes. Open channels of communication can help you develop trust and increase overall efficiency in financial management.

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Qualities of a Good Bookkeeper

Business Understanding

They must understand the fine lines of your business operations and need industry-specific knowledge to provide you with more personalized financial solutions. It is only through having industry expertise that they will be able to overcome the subtleties within your business. If you engage a bookkeeper who understands your business environment, it eases the conduction of your financial processes.

Business-savvy bookkeepers use their knowledge to provide insight into the best financial strategy.
Industry-savvy bookkeepers provide specific financial advice that strengthens decision-making.

Tax Expertise

It requires tax-savvy bookkeepers for its compliance. Their expertise ensures that year-end financial reports and formal tax filings are prepared aptly. A tax-savvy bookkeeper will help small business owners make the appropriate decisions in their fast-moving world to minimize tax liability by maximizing deductions.

Tax-savvy bookkeepers simply comply with all the tax regulations, so no penalty shall arise..
Their expertise ensures that the filing of returns is done on time to avoid any complications.

Transparent Practices

The practice of financial reporting by a bookkeeper has to be transparent. This transparency strongly builds trust between stakeholders and investors. Perfect openness and accuracy in financial records are in a position to show accountability and integrity, which have a great relationship with the positive reputation meant for the business community.

Such transparent practices build credibility and a positive reputation for small businesses.
Keeping clear financial records makes it easier to make sound decisions and plan financially for the future.

Bookkeeping Experience Evaluation

Software Proficiency

The bookkeeper should have prior experience with other jobs in various bookkeeping software to provide accurate financial records. Of importance are skills in the use of QuickBooks and Xero in the efficient management of data. Faster data processing with fewer errors can be achieved by using features available within the software.

This means that with the help of software, proficient bookkeepers will be able to automate tasks of a repetitive nature and improve efficiency. With the software, bookkeepers can efficiently manage various processes, track expenses, and prepare reports quickly. The automation of these processes does not only save time but also ensures accuracy in financial records.

Tax Management

Bookkeepers run most of the small business tax-related responsibilities, including deductions, credits, and filings, by the law. Bookkeepers will help with tax planning during the year for better financial results with reduced taxes.

The accuracy of a bookkeeper in record-keeping helps one to evade the tax penalty for errors or omissions. It will enable the small business to maintain organized financial records for easy running during file seasons for taxes. Their attention to detail ensures that all documents are in place and ready on time for submission as and when due.

Enhancing Workflows

The bookkeepers help in improving the organizational workflow, as they properly manage finances and also offer some insight. Integrating the book-keeping process with other business operations results in smooth, uninterrupted operations with improved decision-making. With collaborations across different departments, the booking maintainers can simplify all the financial activities and increase the general productivity of organizations.

This, in turn, leads to much better efficiency in resource allocation and cost management for the small business. The bookkeeper may take up knowledge related to financial management that helps the small business owner make proper decisions from correct data analysis. Such integration of financial functions thus enhances the company’s operational efficiency.

Ensuring Effective Communication

Skills Required

Attention to detail and analytical skills in bookkeeping are necessary to ensure accuracy in the financial information. A bookkeeper has to be organized and well-organized in time management to accommodate all tasks seamlessly. One must have good communication skills when working with other associates or clients.

Attention to detail
Analytical Skills
Time Management
Organizational skills
Communication skills

Maintaining Transparency

A bookkeeper is meant to ensure openness in all dealings and financial reporting to develop trust. Ethical considerations play a vital role in maintaining accurate financial records. Transparent practices lead toward trust and credibility with the stakeholders that build up the reputation of business.

Uphold transparency
Ethical Considerations
Trust and credibility building

Transitioning Smoothly

From Current to New

If all the steps are rightly followed, then moving from one bookkeeping system to the other is made more accessible. First, analyze your current system and see what areas it needs upgrading. After that, create a detailed plan regarding migration.

While implementing the new book-keeping solution, ensure it is a smooth transfer or migration and that no critical information is lost. Conduct rigorous training for your team so that they are oriented with the features and capabilities of this new software. Testing any new system around just a tiny circle before implementation, and then with increasing users, can bring out problem areas to be detected and ironed out before full implementation.

Besides, upgrading to more sophisticated bookkeeping systems has numerous advantages for small businesses in Sacramento. Modern technology will increase efficiency and accuracy in keeping financial records for your business. A new system like this can make your processes coherent, reduce manual errors, and see precisely the real-time condition of your business’s finances.

Technology for Efficiency

Technology has a very core place in the struggle to realize efficiency in activities about bookkeeping for small businesses. Automation tools can massively help reduce the time used in doing manual entry tasks so that your team engages in some other strategic activity. Cloud storage maintains security for financial data and ensures access from anywhere, thus promoting collaborative working with greater flexibility.

The use of technology tools results in such reporting capability in real-time, which empowers you with the foreclosed ability for making informed decisions on a timely basis. You will learn some important information from such advanced software solutions about the financial performance and trends of your business. Such technology enhances productivity and brings more accuracy into the financial reporting process.

Benefits of Technological Tools:

Automation of effective data entry
Cloud storage for secure data access.
Real-time reporting enables informed decision-making.

Summary

You now understand the essence of proper bookkeeping for your small business in Sacramento, CA. Knowing the basics, looking for the right bookkeeper, and analyzing his experience are the ways toward smooth operations. Effective communication and a smooth transition will ensure that you will have a successful partnership with your bookkeeper. Since your bookkeeper is instrumental to your business’s financial welfare, you must choose wisely and communicate appropriately for the best results.

Now, armed with the information on hiring the right bookkeeper, take action and leverage these practices for simpler financial processes to help propel your business to success. Your diligence in deciding on the correct bookkeeper will be well worth it, so at the end of the outgoing efforts, there will be peace of mind and the proper laying possible for one’s business growth.

Frequently Asked Questions

Why is hiring a bookkeeper important for small businesses in Sacramento, CA?

A hired bookkeeper in Sacramento will keep your books accurate, enable compliance with the taxman, and facilitate better decisions thanks to financial insight.

How can I find the right bookkeeper for my small business in Sacramento?

Finding the right bookkeeper would involve checking on his credentials, experience, and communication skills. Knowing your industry and using some kind of software to make the bookkeeping tasks easier should also be considered.

What qualities should one look for in the ideal bookkeeper for a Sacramento small business owner?

A good bookkeeper should be able to concentrate where needed, reliable, confident, very organized, good at accounting software, and an excellent communicator.

Should I use an independent bookkeeper for my small business in Sacramento?

Hiring a freelance bookkeeper can be beneficial for small businesses in Sacramento due to flexibility, cost-effectiveness, specialized expertise, and the ability to scale services based on business needs.

What are some of the steps I can take to ensure that I make a smooth transition if I hire a new bookkeeper for my small business in Sacramento?

This should facilitate a smooth transition that incorporates comprehensive training in the existing systems and processes, spells out clear expectations from both parties, establishes open communication channels, and provides for the gradual transfer of responsibilities to the new bookkeeper.

Using QuickBooks Online’s Customer Records

Posted on June 21, 2022March 5, 2024 by khateam

Using QuickBooks Online’s Customer Records

Your customers are your company’s lifeblood. Are you managing those relationships carefully? Here’s how QuickBooks Online can help.

If you’ve been in business long enough to remember tracking your customers manually, you probably rememberwhat a nightmare it was. Maybe you had a card file and paper folders – and lots of sticky notes and calendar notations.

Unless you had an unusually effective organization system, it was probably difficult to find historical transactions when customers called with questions, for example, and you may have experienced cash flow problems because it was hard to keep up with invoices and statements and payments.

If you’re already using QuickBooks Online, you know those days are over. But have you explored all the customer relationship management tools available to you on the site?

Thorough Records

The core of any good customer-tracking system is a comprehensive set of individual profiles. QuickBooks Online offers thorough, flexible record templates for just that purpose. Click Sales in the main toolbar, then the Customers tab at the top of the screen. To create a new customer record, click New Customer off to the right to open the Customer Information window.

Note: If you have your customer database in an existing Excel or .CSV file, you should be able to import it. QuickBooks Online provides instructions for this.

You can create a profile for each customer in the Customer Information window.

You’ll need to enter a lot of the information yourself here, mostly contact details. A down arrow next to a field indicates that there’s a drop-down list of options available.

The lower left quadrant of the screen contains a series of tabbed information windows. Click on each to enter what you can about each customer’s:

Address – both billing and shipping
Notes – any that you’d like to enter
Tax info – exemption details and default tax code (if taxable)
Payment and billing – preferred payment and delivery method, payment terms, and opening balance
Attachments –any files pertaining to this customer that you want to include

When you’re done, click Save. Your new record will appear in your list of customers. You’ll be able to toggle back and forth between the details you just entered and a list of their transactions.

Working with Customers

You can always add new customers as you go along, but it’s a good idea to enter records for all of them before you start creating transactions. It will save time down the road, and their accessibility will help with other accounting tasks.

When you click on Sales | Customers now, you’ll see something like this:

Your Customers page contains a list of customers with links to related activities. It also provides a color-coded row of bars that represent the status of invoices and estimates.

The Customers page consists of many elements. The main section displays a table of your customers. Click on one to open the page containing the Transaction List and Customer Details.

On this screen, though, you’ll only see columns for Customer/Company, Phone, Open Balance, and Action by default; click the gear icon in the upper right if you want to include more columns here. When you click on the down arrow next to a field in the Action column, a drop-down list will display the options available for that customer, like Receive payment, Send reminder, and Create Statement.

A series of colored bars runs across the top of the screen. Each represents the current status of a specific transaction type: Estimates, Unbilled Activity, Overdue, Open Invoices, and Paid Last 30 Days. Click on any of these to open a list of pertinent transactions.

You can do all of these activities elsewhere in QuickBooks Online, but it’s convenient to be able to work directly from the Customers screen, too. The fewer clicks, the better.

Call on Us

Did you make a resolution to start using QuickBooks Online this year? The site was built for use by business managers, not accountants, but it can still be a little daunting at first. We’re always available to take your questions and help you with setup and/or daily implementation. Connect with us if you need assistance.

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New to QuickBooks Online and a bit confused? I can help you with setup and implementation. Contact us today.

Have you created profiles for all your customers? QuickBooks Online contains record templates to accommodate this.

Want a quick look at the status of your sales transactions? Click Sales | Customers.

You can do a lot of your sales tasks by accessing the Customers page. Click the Sales icon in the navigation bar. Questions? Call us.

Working with Downloaded Transactions in QuickBooks Online

Posted on June 21, 2022March 5, 2024 by khateam

Working with Downloaded Transactions in QuickBooks Online

Downloading transactions into QBO is the easy part. You still have work to do once they’re on board.

Its ability to download financial transactions is one of the five best things about QuickBooks Online. Without it, you’d spend a lot of time on tedious data entry, verifying which checks and deposits had cleared and entering new ones.

Instead, you can easily connect to your bank and bring in all your activity from the previous hours or day. QuickBooks Online stores this neatly in a register and provides tools for you to further describe and classify each transaction.

Setting Up the Connection

Haven’t connected your financial institution to QuickBooks Online yet? It’s easy. Click the Banking link in the toolbar, then Add Account in the upper right. The Find your bank window opens. Start entering the name of your bank, credit card company, or service like PayPal in the blank field. A list of potential matches will drop down; you simply select the one you want. A window like this will open:

All you need to do to start downloading transactions into QuickBooks Online is select your financial institution and enter the User ID and Password you use to connect directly to the site.

You will have to go through some security procedures, and then QuickBooks Online will download 90 days of transactions (you can shorten this if you’d like). You’ll also be asked which QBO account should receive the transactions. After a few minutes, the register for that account will appear, displaying the transactions you just downloaded.

Warning: The mechanics of connecting to your bank and downloading your first batch of transactions may sound easy, but if everything is not absolutely clear to you as you’re going through the process, please contact us sooner rather than later.

Working with Transactions

Once you’ve downloaded a set of transactions, you’ll want to look at them. Again, click the Banking link in the navigation toolbar. Your accounts will appear in small boxes at the top of the page, along with two balances: the one that came from the financial institution and the one in QuickBooks Online. Select the one you want by clicking on it, and its register will open.

Tip: QuickBooks Online generally updates your accounts once daily. If you want to launch a manual update at any time, click on Update in the upper right corner.

Let’s look at one downloaded transaction to see what you can do with it. Make sure the For Reviewcolumn is highlighted above the register. Select a transaction by clicking on it. A window like this will open below it:

QuickBooks Online does more than simply download financial transactions: It lets you define them in greater detail.

There are several options here, including:

Add to register. If you’re satisfied with the information as is, just click the Add button to the right (not pictured here).
If you want to split the amount/category (Supplies, Tools, etc.)/class of a transaction, click Split (also off to the right and not pictured). A window will open to let you specify that.
Assign categories. QuickBooks Online may automatically make assignments to obvious categories, which you can change if incorrect. You can also click the down arrow to the right of that field and select your own from the list.
Bill an expense to a customer. Did you purchase something that needs to be billed to a customer? Click in the box under Billable and select the correct one from the drop-down list that opens.
Find matches. This can get complicated, and we recommend you let us work with you on it. Let’s say you entered an invoice in QuickBooks Online, and an income item for that exact amount gets downloaded from your bank. QBO will assume that those two “match,” and display them in the In QuickBooks You can click Undo if this is incorrect. But you can also click Find match in the transaction window, and QBO will open a list of possibilities.

As you can see from browsing the lists of downloaded transactions, there’s a lot to learn here. We’d be happy to get together and walk you through your first explorations of these powerful features.

JACKIE IS A LIFESAVER

Jackie has been a lifesaver for me as a local small business owner. I contacted her early out of fear for Accounting and Bookkeeping services as I stepped into the business world. Jackie is not one of those people that just fixes things for you, however if you need that then she is also your person as well! She takes the time to explain options and why you would classify things the way she does so you truly understand. As a Franchise owner, you are given business guidance but there is minimal help on truly understanding the numbers of your business. From bookkeeping, reconciling, anything Quickbooks, and even budgeting tutorials, Jackie Forrester is the best around. Thank you Jackie for helping me get off to a wonderful start and helping me sleep better at night!

Lindsey M. Walnut Creek, CA

Setting Up Sales Tax in QuickBooks Online

Posted on June 21, 2022March 5, 2024 by khateam

Sales tax is one of the more complicated concepts supported by QuickBooks Online.

QuickBooks Online was designed for you, the small businessperson. You’ve probably discovered that many of its features are fairly easy to use from the start.

But just because QuickBooks Online can do something doesn’t mean you should attempt it on your own. Sales tax is one of those things. Depending on your geographical location, you may have to charge not only state sales tax, but also county and city/municipality taxes (and sometimes special taxes). If you’re selling products or services to customers in other states, your situation can get very complicated.

We’ll show you some of the mechanics involved, but we strongly recommend that you let us help you with this.

Setting Up Sales Tax

We’ll describe the process of setting up sales tax rates so you can see how it will work. Click the Taxes link in the toolbar. The new screen should open to the Sales Tax Center; if it doesn’t, click its link in the toolbar above. In the right vertical pane, under Related Tasks, click Add/edit tax rates and agencies. Then click New to open this window:

You can define either a Single tax rate or Combined tax rate in this window.

You’d enter the Tax name, Agency name, and Rate in the designated fields if you’re just creating a Single tax rate. In some cases, you may have to enter a Combined tax rate. If so, click the button in front of that label. The window that opens contains fields that are similar to the ones in the above image, except that Tax name is replaced by Component name. You’ll choose this option when you have to record individual elements of the tax separately. For example, Ft. Myers | Lee County| Florida State.

To muddy things up even more, some items in some situations are exempt from sales tax.

Questions about the Combined tax rate? Contact us.

When you’re done, click Save. You’ll see the tax you just created in a table in the window that opens. To define a New tax, Edit an existing one, or Deactivate one in the list, click the appropriate button. If you’ve entered all you’ll need for now, click Return to Sales Tax Owed and Recent Payments.

Your Responsibilities

Once you’ve set up all the sales tax rates required for you, QuickBooks Online will calculate them for you in transactions where they need to be collected. You can see the running tally in the Sales Tax Center, but it’s up to you to create and record payments on the prescribed schedule. You can also run related reports here.

The site bases its calculations on three things:

The state(s) where you have obtained a sales tax permit(s),
Your company’s physical location, and,
The customer address on the sales form.

But QuickBooks Online can’t know the exact tax situation for all its users. You have to do some detective work before you even approach us for help setting up sales taxes. You’ll need to know, for example, whether your state taxes the products or services you sell. Also, what’s the sales tax rate(s) for the affected states? What agency collects it? When are the payments you’ve collected from your customers due?

Your state government’s website should cover all of this.

Sales Tax Settings

Before you start working with sales tax, you’ll also need to make sure your settings are correct. Go back to the Sales Tax Center and click Edit tax settings on the right side of the screen to open this window:

To save time, QuickBooks Online lets you set some default sales tax actions.

Click the button in front of Yes after Do you charge sales tax? if it’s not already selected. If most of your transactions will use the same sales tax, you can set it as the default (but change it during transactions if necessary). If the majority of customers, products, and services will be subject to sales tax, you can check the boxes in front of the Mark all…statements (these designations, too can be edited in individual transactions).

You can see that using QuickBooks Online’s sales tax tools requires research, decisions, and extreme accuracy (state revenue departments run occasional audits). I have to stress again the importance of consulting with us if you need to take this on. It’s an exceptionally complex element of accounting, and we want to make it work for you.

JACKIE IS A LIFESAVER

Lindsey M. Walnut Creek, CA

Why do you need to Outsource Payroll when I am here?

Posted on June 21, 2022March 5, 2024 by khateam

I offer payroll solutions that meet your business’s needs and enable you to spend time doing what you do best–running your company.

Why Outsource Payroll…

It’s Cost Effective

Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.

It’s a Time Saver

Our payroll service eliminates the burden of customizing, updating and maintaining your own payroll system–no more data entry, no more researching updates or new laws, no more worries.

Worry Free Payroll Tax Filing

Eliminate the risks of calculating and filing your own payroll taxes by having professionals do it for you. Federal, state and local payroll tax laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date?

Allows You To Focus On Core Competencies

Our professional staff allow you to focus on the core competencies of your business. I am accounting professionals–you get the experts working for you and with you.

Comprehensive Reports

You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers’ compensation reports and much more.

JACKIE IS A LIFESAVER

Lindsey M. Walnut Creek, CA

Things for you to get your business finances under control

Posted on June 21, 2022March 5, 2024 by khateam

Each month or quarter I’ll do the following things to get your business finances under control.

Bank Reconciliation

Reconciling your business checking account each month allow me to keep your bank account, accounting, and taxes up-to-date.

Having me reconcile your account each month allows you to…

Identify lost checks, lost deposits and unauthorized wire transactions.
Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
Detect and prevent embezzlement of funds from within your company.
Know how your business is doing? You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to…

Track revenues and expenses so that you can determine the operating performance of your business.
Determine what areas of your business are over-budget or under-budget.
Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time.

A balance sheet helps you…

Quickly get a handle on the financial strength and capabilities of your business.
Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
Determine if your business is in a position to expand.
Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
Determine if you need to take immediate steps to bolster cash reserves?
Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger

The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having me review your general ledger system each month allows me to hunt down any discrepancies such as double billings or any unrecorded payments. Then I’ll fix the discrepancies so your books are always accurate and kept in tip top shape.

JACKIE IS A LIFESAVER

Lindsey M. Walnut Creek, CA

Payroll Solution That Best Fits Your Needs

Posted on June 21, 2022March 5, 2024 by khateam

I know that when it comes to payroll service – no one size fits all. That’s why I offer the following 3 custom payroll processing options.

1. Comprehensive Payroll Services

My Comprehensive Payroll Service takes care of all of the payroll processing for you, so that you won’t have to. You get…

Free Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.
Detailed reports on your employee’s vacation, sick days, and personal days accruals.
Creation and filing of the required new hire reports
Your payroll records maintained in tip top shape.

2. After-the-Fact-Payroll Services

I will take your manually-prepared payroll records and other payroll information and post this information to our data files, so you get…

Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.

3. Online Payroll Processing

You can enter your employee’s hours and earnings securely online and get…

The ability to instantly print payroll checks on your own printer.
Free Direct Deposits
Worry Free IRS and State tax reporting as well as EFTPS tax deposits.
User friendly, and easy to understand monthly, quarterly, and annual payroll tax reports, including W-2, W-3 and 1099 forms.

Custom Payroll Reports Service

There seems to be an endless amount of special reports Government agencies require. I can prepare the following reports for you.

Worker’s Compensation Audits
Unemployment Claims
Social Security Audits
Child Support Audits
W-2 and W-3 processing
1099 and 1096 processing
Preparation/assistance with Federal and State registration forms

JACKIE IS A LIFESAVER

Lindsey M. Walnut Creek, CA