Posted by Matt Roberge on Sat, May 19, 2012 @ 10:30 AM
The construction industry is very labor intensive. The company owners and managers will spend most of their time in the field undertaking or supervising construction jobs. Or, they may be outsourcing for building materials. There is very little time spent at the office yet the bookkeeping has to be done. Our construction industry bookkeeping specialist team provides complete and convenient solutions.
Our company's services are ideal for construction companies that have one to ten employees. One advantage of using outsourced bookkeeping services is that the costs of having a bookkeeper and perhaps an office assistant as permanent members of staff are eliminated.
Our construction industry bookkeeping specialist firm can provide services on a weekly, monthly or quarterly basis as per the needs of each client. A constructor and the rest of his staff who are mostly out in the field choose one day of the week or month when the bookkeeper can come it and update the books.
Our Salt Lake City Bookkeeping firm keeps the books in a format that is easy to understand when the construction company owner and managers are reviewing the books. The main software used is QuickBooks. It is easy for the business owners to go over files in this format and also this software allows for files to be customized specifically towards a construction company.
Another advantage of QuickBooks is that when transactions like sales and purchases are entered and there is built in functionality to help manage your inventory of the materials and services that are 
purchased and sold by your business. Financial reports like profit and loss, a balance sheet and those used for forecasting and budgeting will help improve the performance of any business. Our firm will also do bank reconciliations to ensure the reports you are looking at are 100% accurate.
Apart from keeping records of the construction company, the firm also does personal bookkeeping. This takes the burden of computing and filing tax returns off of the company owners and directors. This can be done for all of the family so that returns can be filed collectively.
Isn't it time to stop trying to do it all and leave the bookkeeping to a firm that walks and works beside you like a friend?
Posted by Matt Roberge on Tue, May 15, 2012 @ 09:28 AM
A sharp and reliable small business bookkeeper is essential to the success of your company, but can sometimes be difficult to come by. Even if your bookkeeper is highly skilled, they are only human, and errors can be made – whether accidental or intentional. How can you know for sure if your small business bookkeeper is handling your finances with accuracy and integrity? Keep your bookkeeper honest by auditing them before the IRS audits you.
Be Involved
One huge mistake that many business owners make is not staying involved with their accounting. Never grant your bookkeeper the power to sign checks, utilize bill pay, or make withdrawals. This is a managerial task that should be overseen by you. Request to review copies of invoices before signing checks to ensure that they are legitimate. Ask questions of your small business bookkeeper on a regular basis. If you randomly request to see petty cash receipts or review a recent bank reconciliation, they be able to fully explain and account for everything, without hesitation.
Checks and Balances
The importance of utilizing a CPA for a system of checks and balances cannot be stressed enough. First, a CPA is an excellent resource to double check the accuracy of your bookkeeper. Secondly, your CPA is a tax expert, whereas your small business bookkeeper is not. They will be able to conduct a thorough examination of your financial records to ensure that everything matches up with your tax return. A CPA will work closely with both yourself and your bookkeeper to make sure that everything is accurate, and that everyone is on the same page.
Understand Your Software
Reputable programs like QuickBooks are fairly easy to learn and to navigate. When you understand the basics of your company’s bookkeeping software, you will be able to see how often your bookkeeper is updating your finances, reconciling accounts, etc. This will also keep you up-to-date on the cash flow of your company and will enable you to spot check for any discrepancies.
Don't remove yourself from your company’s finances. Working closely with your small business bookkeeper, asking questions, and keeping a good checks and balances system will keep you out of trouble with the IRS, and will enable you to be as successful as possible.
Is your bookkeeper unreliable? Do you need help getting your finances back in order? Feel free to contact us for accurate business and personal bookkeeping assistance.
Posted by Matt Roberge on Tue, May 01, 2012 @ 09:09 AM
As a small business there are many bookkeeping mistakes you just can't afford to make. A small mistake can mean a minor setback in your operations. However, a big mistake could put you out of business. Here are five fatal bookkeeping mistakes you flat out can't afford to make:
Misreporting of income or expenses
When a small business owner takes on the task of bookkeeping on their own I typically see a lot of mistakes. Often I see large mistakes like the over reporting or underreporting of income or expenses. It really is not that difficult to make a huge mistake if you are not 100% sure of what you are doing. As an example, if you don't know how to handle the procedures of invoicing and properly recording payments in QuickBooks you will most likely overstate your income. Likewise, I often see businesses miscode transactions which will either overstate or understate your expenses. The most common example I see is owner draws being recorded as an expense which is incorrect.
Not reconciling all of your accounts
Any account that has a statement beginning and ending balance can be reconciled. This includes bank accounts, credit cards, loans, lines of credit etc. Many businesses not only fail to reconcile all of their accounts, but they don't even reconcile the key business accounts such as the general checking account. Reconciling your accounts is the only way to be sure you have accounted for all of your business activity. It also can help to ensure you have not overstated or understated your income or expenses. Accurate financial statements are crucial to future success of your business.
Not having a CPA in place
I can't stress the importance of having a CPA in place for your business. Your bookkeeper should intimately understand the day to day operations of your accounting, however they are most likely not a tax expert. A CPA will communicate with your bookkeeper to confirm that your bookkeeping reporting is accurate. They will also thoroughly go through your financial records to make sure everything matches your tax return. Your CPA should work closely with both the business owner and bookkeeper to prepare an accurate tax return that also ensures you are getting all the tax deductions you are entitled to.
Not using a reputable bookkeeping software
All too often a business handles their bookkeeping in some sort of offline system. Although excel can work for a simple bookkeeping system it does not support growth for you company. We highly recommend using and learning QuickBooks, as it is a great bookkeeping software for the business owner that does not necessarily understand everything about accounting.
Not using checks and balances
In my eyes many business owners are to trusting and unfortunately this often leads to bookkeeper theft. By installing the proper checks and balances into your bookkeeping system you can be sure your bookkeeper is not stealing from you. A few simple tips are that a bookkeeper should never have the authority to sign checks, use online bill pay or handle cash.
Are you making any of these fatal bookkeeping mistakes or are you are but you don't even know it? Maybe it is time to tighten your bookkeeping system up.
Posted by Matt Roberge on Sat, Apr 28, 2012 @ 08:09 AM
You wouldn’t hire a mechanic to cut your hair or a chef to fix your plumbing, so why would you trust your accounting to anyone other than a qualified bookkeeping firm? Let’s face it, properly maintaining the financial records for any business can be difficult or even confusing and mistakes can be, well, costly. This is why business owners need to know how to find the right kind of bookkeeper for their business.
When you are looking for bookkeeping services Utah, you need to find a firm that specializes in small businesses if you have less than 50 employees or large-scale companies if you employ more than 50 people. Locating a firm familiar with working with businesses like yours means that the firm will be intimately knowledgeable about applicable tax laws, regulations, accounts receivable/payable and any other relevant financial information.
In addition, the right kind of bookkeeping services Utah will bring to mind words like ‘detailed’, ‘organized’ and ‘analytical’. Your bookkeeping service should be thorough, accurate and smart. Of course, it also does not hurt if the bookkeepers are also funny and clever, but don’t forget that attention to details is a highly important characteristic when it comes to accounting.
Treat your search for a bookkeeping firm much like a new hire search. Check out more than one firm, ask for 
references and be certain to check those references. Few of us would not simply hire the first person who walks through the door, nor should you merely accept the first bookkeeping firm you find. The relationship between you and your bookkeeping firm is going to require a lot of communication and trust. Be sure you are comfortable with your choice before you sign on the dotted line.
Now that you have a better understanding of why finding the right bookkeeping firm is so important, it is time to contact Salt Lake City Bookkeeping. We are a Certified QuickBooks ProAdvisor with a long roster of happy clients and we specialize in small firms with fewer than 50 employees.
Don’t you want a bookkeeping firm who is knowledgeable and efficient so you can focus on the rest of your daily operations? Call us at 801-928-3636 or send us a note online today.
Posted by Matt Roberge on Thu, Apr 26, 2012 @ 08:08 AM
A lot of small business owners like to find a third party small business bookkeeper to do their bookkeeping for them because not only does it save time but it also might be something the owner isn't knowledgeable in. Working as a small business bookkeeper is a responsibility that allows a business to run smoothly as well as efficiently. To be the best small business bookkeeper a few things to keep in mind include:
Software
It's important to stay up to date on the latest and greatest software available. Long gone are the paper record books that shop owners used to keep. A good quality software program will help track expenses, track income, keep separate accounts in order and even keep a good record of how much is being spent on supplies and such.
Finance
The best bookkeeper will be knowledgeable on different aspects of the finance and banking industry. Not only do bookkeepers need to keep an accurate record of cash flow but they should also know where the best rates in the area are and should be able to understand monthly bank statements thoroughly. All credit card and bank statements should be reviewed each month to make sure no expenses or deposits were overlooked. Letting even one small expense fall through the cracks can be detrimental to the success of a small business.
Invoices
Every business transaction should have some sort of invoice completed. Often times a contract is included as well. A successful small business bookkeeper will remain up to date with all of the incoming invoices and 
make sure that all agreements are being met. Staying consistent is important.
Back Up
Any knowledgeable bookkeeper knows that they should always have a back up of data. In an age where we rely on computers for our data storage, this leaves a lot of room for error. A problem with the hard drive or a power surge can wipe out a company's entire collection of data in a matter of seconds.
Being the best small business bookkeeper relies on a number of different factors that should all be practiced regularly in order to help a business run smoothly and be successful.
Posted by Matt Roberge on Thu, Apr 19, 2012 @ 09:47 AM
Running a business often requires more time than there are hours in a day, and keeping up with all of your 
duties can often leave you exhausted and burnt out. Sometimes you may feel as though you need a carbon copy of yourself in order to complete all of the tasks on your ever-growing plate. No one ever said managing a business would be easy – but no one said you couldn’t get a little assistance either. In order to relieve some of the weight off your shoulders, consider hiring a Salt Lake City Bookkeeping professional.
Our expert services are more than just excellent mathematicians, they’re also some of the most detail-oriented and business savvy professionals in the industry. When it comes to handling your company’s bookkeeping duties, you don’t want to hand the task off to just anyone. In order to rest assured that your books will be kept up to date and your finances are in good hands, you should entrust your bookkeeping duties to one of our Salt Lake City Bookkeeping specialists.
By relieving you of your accounting and bookkeeping tasks, you can focus on other important aspects of your company – such as continuing to grow your business, foster greater relationships with customers and exceed your sales goals. Assign your bookkeeping duties to one of our reliable professionals and there is no limit to what your business will accomplish.
What will you do with your new found availability?
Posted by Matt Roberge on Thu, Apr 12, 2012 @ 09:49 AM
What are the key questions to ask when looking for bookkeeping services in Utah? Finding the right 
bookkeeping service for your business is critical. There are three important questions to ask. Remember, getting off to the right start requires action on both your part and on that of the Utah bookkeeping services.
Is My Bookkeeping Service the Right Size? – There are a wide range of options for bookkeeping services in Utah. Some are tiny mom n’ pop shops; some are huge multinational corporations. Sadly the latter is becoming the regular. But where does your business fit in this mix? You may want a little more up-to-date accounting than a handwritten ledger, but, on the other hand, you may not want to just be a number in a database. Is your bookkeeping company the right size for you?
How is My Bookkeeping Service Keeping Track of Me? – Does your bookkeeping rep have 1,000 other clients? Or, do they know your business well and know you and other facts about you? You may not want to have your bookkeeper over for dinner but you also don’t want to be forgotten. The sweet spot for your business and your needs may be that your bookkeeper remembers you like an old friend, but doesn't call you on every detail. How well does your bookkeeper keep track of you?
Are Your Expectations Clear? A bookkeeper is responsible for seeing that all of your business transactions are recorded in the various accounts and that everything is reconciled. To help your bookkeeper succeed in his or her job, it is essential that job duties and expectations are clearly defined. Coming up with these may be challenging and will vary between businesses. However, establishing clear expectations and deliverables will save you time and headaches down the road.
Changing bookkeepers may be what your business needs right now. For that reason if you are going to consider changing your bookkeeper you should do so with confidence. Yes changing your bookkeeping service may be a challenge, but the peace of mind it brings to you knowing your business finances are being handled to your expectations are worth it.
Here's the big question: Does your current bookkeeping service in Utah clearly fit with your company's needs?
Posted by Matt Roberge on Tue, Apr 10, 2012 @ 10:26 AM
Many business owners are reluctant to use outsourced bookkeeping. Many don't realize how 
advantageous it can be to use an outsourced bookkeeping service. Here are three reasons you should consider outsourcing your businesses Bookkeeping Services.
Never Deal With Turnover
The biggest advantage of using a bookkeeping service is that you most likely will never have to hire a bookkeeper again. Although the bookkeeper handling your day to day bookkeeping may change from time to time, the main person or people in charge are unlikely to change. Therefore, you should always have a dedicated person that understands your bookkeeping needs. Bookkeeping services are looking for long-term business relationships.
Focus on Growth Not Bookkeeping
By hiring a outsourced bookkeeping service that is looking for a long-term commitment you can focus on growing and running your business and not your day to day bookkeeping system. You will have a service that truly understands your bookkeeping needs and is able to handle everything professionally. As a business owner you will be able to use your bookkeeping system as a tool to help you grow your business.
Get Someone Who Cares
Your bookkeeper should be more like a business partner than a bookkeeper. Through outsourcing your bookkeeping you can get a service that actually cares about your business. If you have been using the same bookkeeping service for years they will appreciate the long term business. They will also appreciate it if you take care of them monetarily.
Maybe you have always had a full-time in house bookkeeper. Maybe you are not comfortable with the thought of outsourced bookkeeping. But are you happy with your current system? Maybe it's time to explore your options.
Posted by Joe Mazur on Sat, Apr 07, 2012 @ 10:25 AM
If you're running your own business, you should have an organized way of keeping track of your income and expenses. So, let's talk about
personal bookkeeping from an
insider's view. More and more people are starting their own businesses and simply can't afford to hire an accountant, so they are deciding to do their own bookkeeping. There are a number of financial software programs on the market that are geared towards this niche market of individuals and are user friendly.
How can personal bookkeeping help you? Doing your own bookkeeping affords you the opportunity to have first hand knowledge as to what is going on with your financial affairs, whether this be of a personal nature, or of a business nature. Some ways that
personal bookkeeping can help you are as follows:
- Saves you money;
- Easily keeps track of your income and expenses;
- Customizes various types of financial reports;
- Keeps track of the financial health of your business or personal matters;
- Allows you to access your personal or business financial information easily; and
- Makes tax preparation easier
Personal bookkeeping is not as hard as you may think it is. While it can be a bit tedious and time consuming at first, once you get the hang of it, you will be glad that you decided
to do your own bookkeeping. Programs such as
Quickbooks and Quicken are two of the most popular financial software programs available. Incorporated within these programs are tutorials to help you familiarize yourself with how the software works.
So, now that you have decided to do your own bookkeeping, keep the following in mind:
- Keep accurate records of your income and expenses;
- Enter data on a regular basis;
- Track how you are doing financially by generating a Profit & Loss statement, if not monthly, at the very least, quarterly.
What is your motivation for wanting to do your own personal bookkeeping?
Posted by Matt Roberge on Thu, Apr 05, 2012 @ 10:00 AM
If you are a restaurant owner you may want to consider a QuickBooks restaurant specific bookkeeper to handle your accounting. QuickBooks Restaurant works really well for handling the bookkeeping for a restaurant but only if set up properly.
Restaurant Specific Bookkeeper
If you search hard enough you will probably find a bookkeeper or bookkeeping service that specializes in Restaurant Bookkeeping. Restaurants are their own animal and having some general knowledge of the industry does help. Margins are as tight as they come in the restaurant industry so having a bookkeeper that is an expert in the field is advantageous.
Setting up checks and balances
Unfortunately theft is pretty common in the restaurant industry. A tight inventory control system is essential to the success of your restaurant. Keeping a watch on your cash is also a concern. One system I have found pretty flawless is to assign your managers the task of depositing cash and having your bookkeeper verify the cash deposit amounts. This simple system will ensure that the cash payments run through your POS system are deposited into the bank right down to the penny. This is a tight system for tracking cash with good checks and balances. Lastly, don't forget to implant checks and balances on your bookkeeper into your accounting system. Making sure your bookkeeper is not stealing from you is important for any bookkeeping system.
Understanding Restaurant POS systems
You want to make sure that your bookkeeper understands your POS system in and out. It is crucial that your bookkeeper be able to extract information from your POS system and also know how to program your POS system effectively. This will make researching and solving issues much less complicated. Also, if they are familiar with your POS system your bookkeeper will know how to look for things that don't look quite right.
Use your QuickBooks file as a tool for your restaurant
If you hire a QuickBooks Restaurant expert you should benefit in many ways. One huge benefit is you should be able to rely on your bookkeeping system as a tool to help you make crucial business decisions. Your bookkeeper should also be able to intelligently discuss the financial state of the restaurant and make insightful suggestions. The margins in the restaurant industry are so tight that a small oversight may be the difference between success and complete failure.
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