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Salt Lake City Bookkeeping Blog

Outsourced Bookkeeping Should Not Scare You

Posted by Matt Roberge on Nov 16, 2012 7:38:00 AM

There are a lot of positive reasons to consider an outsourced bookkeeping service. The bottom line is that
every business needs to be sure that they have accurate financial records. If they do the work in house the business owner needs to be absolutely sure that the work is done correctly. 

One huge advantage to using an outside service is the cost savings. The time and effort to locate a qualified bookkeeper, hire, pay and provide benefits is a huge cost not only in money but in time. After going through all of that what if the bookkeeper leaves for another job? You are right back to starting over again. Using an outside bookkeeping service allows the business owner to focus on the core business not the bookkeeping.

Another advantage to an outsourced service is you will have access to their expertise. Good bookkeeping services hire and retain the most qualified staff. They know that this is their business and they make sure they have the personnel in place to handle the work you need done.

Because they have a trained staff they have timely turnaround on the work being done. They will file tax reports on time, meet deadlines and make sure your business runs smoothly. An outsourced bookkeeping service will be sure to have the latest technology.

One more reason not to be scared of an outsourced bookkeeping service is that you have no worries about back ups. Your files are secure and safe so no matter what happens to your physical location your records are safe. 

Having an outsourced bookkeeping service can reassure the users of your financial statements that they are
being done in accordance with all accounting principles. These services make sure that they have the necessary information to provide an accurate and unbiased financial picture of your business. This also takes the burden of double-checking that an employee is not stealing from your company out of the question. 

Keeping your financial picture confidential is a really good reason to use an outsourced bookkeeping service. An employee handling this information could let sensitive information slip out. The service will maintain the highest level of confidentiality for your business.

There is no reason to be afraid of an outside service for your bookkeeping needs. These firms can provide you with everything already mentioned and peace of mind that your business is in excellent hands.  

 

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Topics: Outsourced Bookkeeping, bookkeeping needs, Business Bookkeeping, Bookkeeping Services, Bookkeeping Business, Outsource Bookkeeping, Bookkeeping Help

Evaluating Bookkeeping Companies And Your Needs

Posted by Matt Roberge on Nov 9, 2012 7:57:00 AM

Evaluating the needs of your company is the number one thing that needs to be done before you can begin to
evaluate  bookkeeping companies and the services they provide. Matching what you need to the bookkeeping company that can best give your company all the services it requires. If you know exactly what you need before you start looking you will be able to clearly evaluate services.

Some items to consider when evaluating business bookkeeping companies:

  • Flexibility

  • Expertise

  • Turnaround

  • Technology

  • Reduced Paperwork

  • Confidentiality

When assessing flexibility, think of your business and consider how quickly the bookkeeping service can get you all of the information you may need. Do they have the personnel in place and trained to do your work as well as the work load they all ready have?

The expertise of the staff is very important. Does the bookkeeping service have qualified and dedicated personnel who know what needs to be done for your business? Do they have any similar businesses that they are providing services for now?

Fast and timely turn around is imperative so that your business can meet deadlines and have any forms filed with tax authorities in a timely manner. Providing a quick turn around of your information keeps you informed of where your business stands at all times.
A bookkeeping service that has up to date technology that they are familiar with will best suit your business. If the service does some similar small businesses it is a good indication that they have the necessary software to do yours.

When a business uses a bookkeeping service it should reduce the amount of paperwork your office needs to generate. This can be a saving in cost and in storage space. All businesses need to be able to conduct their business without worrying about confidentiality. This can be a great reason to consider using a service in the first place. You will not have to worry about employees discussing financial matters outside of the office or even having financial matters becoming office gossip.

Before you can evaluate a bookkeeping service for your business an understanding of the needs of your business need to be listed and evaluated. Once that list has all the details of what you expect and require from the bookkeeping service the evaluations can begin. Are you clear in your mind what your business requires from a bookkeeping service?  

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Topics: bookkeeping challenges, Bookkeeping Errors, bookkeeping needs, bookkeeping products, Bookkeeping Processes, Bookkeeping Help, Bookkeeping Companies

Why Does Business Bookkeeping Always Get The Back Burner?

Posted by Matt Roberge on Nov 5, 2012 7:25:00 AM

There are so many reasons why business bookkeeping gets put on the back burner. When you own a small
business you are most likely overworked and buried in things to do. You don't know if you can truly afford to hire additional help or exactly what kind of administrative help you need.

Small business owners go into business to do something they are good at and most likely really enjoy doing. Restaurants owners might love to cook and really appreciate seeing their customers enjoying the food they prepare. An auto mechanic might love to work on cars and can't wait to dive in and try to figure out what is wrong with them.  A boutique owner that loves fashion and all its accessories can't wait to help a customer find the perfect outfit for their big night.

What all these people have in common is that they didn't go into business to do the bookkeeping.  When you have a list of things to do for your business bookkeeping often fall to the bottom. In some cases it has to. For example, the restaurant owner needs a new dish for a special, food needs to be ordered and staff needs to be scheduled. The auto mechanic needs to order parts and estimates to get out. The boutique owner has ordering to do.  

This puts one of the most important parts of their business off until everything else is done and they are exhausted.  When it finally gets to be too much these owners may bring in an office person to help out. Sometimes this is a friend or family member who really has no training or expertise in bookkeeping.

What they really need is a bookkeeper or a bookkeeping service that can take this burden off them and allow them to do what they do best.  The peace of mind this can offer a small business owner is incredible. No more worrying about did I file the right form for sales tax, is my company really making money, can I afford to hire more help and are my taxes filed properly. 

One main reason that bookkeeping gets put on the back burner is that it is not easy. It takes time and knowledge. Business owners need to focus on their core business and get a qualified bookkeeper or bookkeeping service to deal with the rest. It is worth every penny to the owner.   

 

 

 

 

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Topics: bookkeeping needs, Business Bookkeeping, Bookkeeping mistakes, Bookkeeping Services, Bookkeeping Business, Bookkeeping Help

Evaluating Bookkeeping Services In Utah

Posted by Matt Roberge on Oct 29, 2012 7:33:00 AM

When evaluating bookkeeping services in Utah there are a number of factors to take into account. Bookkeeping services need to be tailor made to your small business. Every business is somewhat different and needs individualized attention to their needs. Bookkeeping services have the ability to give that attention to a small business.

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Topics: bookkeeping needs, Bookkeeping Salt Lake City Service, Bookkeeping Salt Lake City, Bookkeeping Services in Utah, Bookkeeping Services, Bookkeeping Business

Tight Bookkeeping For Small Businesses Will Drive Profits

Posted by Matt Roberge on Sep 28, 2012 7:34:00 AM

With accurate bookkeeping small businesses can maximize profits. It is essential for small businesses to have tight bookkeeping. Bookkeeping is what lets the owner know all the important information about keeping the business profitable and working smoothly. Profits can be increased by keeping accurate records of transactions and having that information timely.

How can bookkeeping help a small business increase profits?

  • Invoicing daily keeps the money coming in

  • Job cost - know what each item produced or each job performed costs

  • flexible payable options to take advantage of discounts offered

  • know what your cash flow situation is

By invoicing daily every job that is done becomes an asset waiting to be collected. This can get money to you faster. Knowing what a job costs is a huge help in price setting and looking at ways to do a great job for less money. With excellent bookkeeping small businesses have the ability know what it is costing so new jobs can be bid profitable and accurately. Having the ability to pay bills and take a discount can really add up over time. The biggest reason to have tight business bookkeeping is to know your cash flow daily. What is coming up that needs to be paid, what should be coming in and of course what is in the bank right now.  With accurate bookkeeping small businesses can know what their overhead costs are. This is important to know so the owner has a good idea of what needs to be sold each month to just cover the basic costs such as: 

  • Rent

  • Payroll

  • Utilities

  • Taxes

  • Insurance

  • Office supplies

  • Telephone

In small business bookkeeping information is only really useful if it is up to date and accurate. An office person who must answer the phone, schedule the work, keep up with the filing and do the bookkeeping could be overloaded. People who have been trained in  bookkeeping and accounting services can help keep a small business running as efficiently as possible.  The bookkeeping for a small business should be a priority and handled accordingly. It is something that can be understood and controlled to help the business grow. Accurate knowledge of the financial state of the business is the information an owner needs to make decisions. Is tight bookkeeping something your business could use?     

 

 

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Topics: bookkeeping needs, Business Bookkeeping, Accounting Services, Bookkeeping Services, Small Business Accounting Services, Bookkeeping Business, Bookkeeping Help

5 Ways Monthly Accounting Reconciliation Will Benefit Your Business

Posted by Matt Roberge on Sep 10, 2012 6:59:00 AM

Most business accountants are frustrated to know that at any given time, a company’s banking and financial accounts will show a different balance than the ones that are on record. Accounting reconciliation is a way to keep the balances in sync.

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Topics: bookkeeping challenges, bank reconciliation, bookkeeping needs, Accounting Services Provider, Accounting Services, Accounting Reconciliation, Bookkeeping Help

Is It Time To Hire A Bookkeeper?

Posted by Matt Roberge on Sep 7, 2012 7:23:00 AM

If you are like many small businesses, you may not think you need to hire a bookkeeper. Many
small business owners have the mentality that they can do everything themselves, and it doesn’t seem to make sense to outsource bookkeeping. With software like QuickBooks, many companies try to do it on their own, but quickly find out that they are trying to juggle their time running their business while trying to keep track of the books, and wondering if they are even doing it accurately and correctly.

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Topics: bookkeeping needs, Business Bookkeeping, Bookkeeping mistakes, Bookkeeping Services, Hire A Bookkeeper

Your Business Bookkeeper Can Take Your Financial Blindfold Off

Posted by Matt Roberge on Aug 27, 2012 12:45:00 PM

If your business bookkeeping system is not up to date then you are running your business blind.  However, your business bookkeeper can take your blindfold off and open your eyes to the financial state of your business.  How can you make decisions without accurate financial information?  How can you even begin to plan how to grow your business without current income and expense figures?  In my eyes you can't.  Here is what is going on beyond that financial blindfold:

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Topics: Outsourced Bookkeeping, bookkeeping needs, Small Business Bookkeeper, Small Business Bookkeeping, Bookkeeping Services, Business Bookkeeping, Bookkeeping Help, Business Bookkeeper

5 Critical Business Bookkeeping Processes

Posted by Matt Roberge on Aug 11, 2012 8:16:00 AM

One of the most important parts of any business – regardless of how large or small – is its finances. Keeping up with all income and expenditures not only provides a company with a quantifiable measure of their success, but it also keeps businesses from making mistakes in their taxes, which can cost you dearly. Business bookkeeping is no easy task, but it’s critical to the existence of your company. Here are 5 of the most important bookkeeping processes:

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Topics: Business Efficiency, bookkeeping challenges, Bookkeeping Errors, bookkeeping needs, Business Bookkeeping, Business Bookkeeping, Bookkeeping Processes

We Have A Smorgasbord Of Restaurant Bookkeeping Expertise

Posted by Matt Roberge on Jul 19, 2012 8:34:00 AM

Restaurants are some of the busiest businesses out there, and not just because they have to serve dozens of people at a time every day and night. The kitchen is always busy with cooking and getting ready for the next day, and the staff that serves the food must keep their tables in order and keep track of their tips. Then, the restaurant managers have to make sure their bookkeeping is impeccable. In fact, some of the most important tasks at the restaurant is making sure all of the bookkeeping is properly organized--otherwise, you might have a restaurant that is losing money!

Instead of trying to handle all of the bookkeeping yourself, let the professionals do all of the heavy work for you! Yes, restaurant managers and owners can outsource bookkeeping to a company that speaks English, is in the United States, and might just be local to you. Actually, we bookkeepers at Salt Lake City Bookkeeping can make sure you are focused on creating tasty food and keeping your patrons happy by offering a smorgasbord of restaurant bookkeeping (we totally wanted to do that pun)!

What can you expect from SLC Bookkeeping?

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Topics: Restaurant Bookkeeping, Bookkeeping Services, Outsource Bookkeeping, bookkeeping needs, Outsourced Accounting And Bookkeeping, Bookkeeping Salt Lake City Service, Restaurant Bookkeeper