It’s tough enough to run and grow your business. The last thing most business owners want to do is come home and balance the books. Hiring a bookkeeper who is also experienced in small business financial management can be great for your bottom line and your productivity. Get a CPA for bookkeeping services to handle your financials as you work on managing and growing your business.
What Kind of Bookkeeping Help Is Out There?
Some of the most common types of bookkeeping services include:
- Bank reconciliations
- Generating monthly operating statements
- Accounts payable
- Accounts receivable
- Sales tax preparation
- Income tax preparation
- Bookkeeping clean up
What Can a Las Vegas Bookkeeper Do for You?
When you allow a professional bookkeeper to do your work for you, you’ll be able to better control your financial records, gain tax advice and support while getting most of all ease of mind. Here are some of the most common bookkeeping services that business owners take advantage of:
Bank Statement Data Entry & Reconciliations
We are able to enter bank statement transactions and reconcile the accounts at the end of each month. This allows you to keep a clean slate when it comes to your business’s finances. This is the foundation of all bookkeeping.
Monthly Financial Statements
Once all bank statements, credit cards, loans and other accounts are entered and reconciled, monthly financial statements are generated to review how the business is operating. This is used to keep track of your financial progress and advise you on your future plans. These are integral in planning, and plugging holes within your finances.
Accounts Payable / Accounts Receivable
Bookkeepers are able to input vendor invoices, reconciling vendor statements, and issue payments for payments due. In addition, you can expect them to record sales invoices while tracking customer payments and amounts due efficiently.
Payroll is processed through Intuit or third-party payroll providers. Payroll services may also include federal and state tax deposits and filings and reconciliation of payroll transactions. This is easily the most important aspect of our bookkeeping services because it’s what keeps you and your employees happy.
Nevada Sales Tax Preparation
Many businesses are responsible for collecting sales taxes and filing them accordingly with the state department of taxation. A bookkeeper can help in compiling monthly sales reports, calculating and preparing the appropriate sales tax returns, keeping you level on what your business owes to the government, and by extension keeping you out of the doghouse.
We understand there may be some mishaps in recording transactions. We are here to assist in cleaning up bookkeeping entries and balancing the books.
Bookkeeping Basics and FAQs
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While basic accounting and bookkeeping may be easy to do depending on the size and complexity of your small business, it does take time away from working on your business and personal life. In addition, if done wrong, it can cost you a lot of money. Hiring a professional bookkeeper can give you peace of mind as you work on your business rather than spending your time on what is not your highest and best efforts.
It tends to cost a lot if you do it yourself, and mistakes that are made are very difficult to correct retroactively. The cost of hiring a bookkeeper varies on the size and complexity of your business, but it is well worth it in the long run.
Working on your business’ day to day entries, organizing your receipts and files are time consuming and overwhelming. We are here to review your bookkeeping and to make sure your financials are correct and reasonably stated.
Financial accounting software is only effective if you’re using it right, and working on your business’s finances, doing filing, and organizing receipts can be time-consuming. Many business owners don’t realize the state of their books until it’s too late. Failing to keep up on bookkeeping can keep you from making the best decisions about the financial health of your company. However, hiring a bookkeeping service to perform a cleanup may be the best solution here to get the issue resolved as quickly as possible.
Did you receive a notice from the Department of Taxation regarding missing sales tax reports and payments? Or was your business selected for a sales tax audit? A CPA can help you gather and organize the information needed to resolve your sales tax issue. Audits in general could go smoothly or rough, and the goal is to always have a quick and efficient audit. Don’t make the mistake of thinking you can do it on your own.
Applying for a contractor’s license? With an existing contractor’s license, are you interested in increasing your license monetary limit? If so, the Nevada State Contractor’s Board requires financial statements to be compiled, reviewed or audited. Feel free to contact our office to further discuss your needs so we could assist you in getting the right financials to complete your application.
Providing the correct financial statements for a bank or any other financial institution varies on the purpose of the loan in question. A CPA can assist you with the preparation of the correct form of financial statements based upon the purpose of the loan.
Whether starting a new business or updating your old system, selecting the correct software to assist you in your company is one of the most important choices. Whether it is using Intuit QuickBooks or a part of the Sage family of products, accounting software should work for you and not the opposite. Software is only as good as how you use it, and a good bookkeeper can help you implement the proper solution and help you use it effectively.
Financial statements are important to your business to gain insights about your company operations. Financial statements and other tools help manage your company from one period to the next. It also helps third parties evaluate your business. Having financial statements also aids in the preparation of your tax return.
Begin by being up to date on your current payroll taxes. Then work on filing your past due payroll reports. Interest and penalties will be applied and you could possibly make arrangements with the IRS to set up a payment plan. A CPA can help you get your reports organized and filed accordingly and efficiently. To make things easier, you can even get a bookkeeper to correspond with the IRS on your behalf.
Preparing the correct 1099 forms can be an often daunting task to deal with in the beginning of the New Year. If you need assistance relating to whom to send a 1099 to or which 1099 I should send, contact Larry L Bertsch CPA & Associates to assist you in the various payment thresholds and/or the correct forms to use.
There are different rules and classifications in distinguishing an employee versus an independent contractor. Contact a CPA to further discuss which classification is right for your company.
In many instances, a taxpayer cannot deduct an expense without reporting said payment to the IRS through the use of a Form 1099. Many taxpayers get into trouble with the IRS when it comes the multitude of tax rules associated with the issuance of a 1099. Taxpayers and businesses should get into a routine to ask for a completed W-9 for each vendor they will be making or have made payments to. If you need to issue 1099s or have questions relating to the issuance of the forms, contact Larry L Bertsch CPA & Associates for assistance.
QuickBooks Bookkeeping Services for Small Businesses
Whether you input data into your QuickBooks or you have a bookkeeper, having a QuickBooks ProAdvisor to consult with when issues arise will save you time so you can focus on the success of your business.
Give us a call if you are just setting your QuickBooks up for a new business, changing from another software, or just need some help navigating QuickBooks.
– Richard H.