Bookkeeping

Salt Lake City Tax Consultants

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Bookkeeping

Accurate record keeping of all your incoming and outgoing business transactions—and correctly classifying those transactions—is essential for the success of your business. We at Klingler CPA are well versed in tax preparation and payroll accounting for businesses, making us an ideal choice for your business’s bookkeeping needs. We offer bookkeeping at a nominal fee.

“Accurate record keeping is essential for the success of your businesses. Our professional bookkeeping services can help you gain a firmer grasp on your businesses income and expenses allowing you to make smarter business decisions.”
Many small business owners thrive on a DIY mentality, avoiding outsourcing whenever possible. It’s important to remember, however, that hiring a professional can be a highly advantageous move for your business, especially in matters of finance. Going with a professional accountant for your business’s bookkeeping needs will ensure that income, expenses, and bank reconciliation are all recorded accurately, simplifying the processes of tax preparation and payroll accounting. It can also ensure that employees file all the right paperwork for the payroll, that invoices are submitted promptly, and that all bills are paid. A professional bookkeeper can even help you gain a firmer grasp on your income and expenses, allowing you to make smarter decisions with how you spend your money. Ultimately, hiring a professional for your bookkeeping needs can save you time and effort, keeping you focused on doing what you do best—running your business.

One major advantage to hiring a certified public accountant for your bookkeeping needs is your accountant can analyze the big picture of your financial situation and offer strategic financial advice. An accountant can also take care of your tax preparation needs once tax season rolls around.

Our firm specializes in small business and corporate tax, working with businesses to help maximize profits and minimize tax burden. To learn more about what we can do for the financial health of your business, visit our about us page.

FAQs

Bookkeeper vs Accountant - What's the difference?

Accounting is the language of business. It’s how companies communicate their profit, loss, assets and liabilities; not only to shareholders , but also to stakeholders such as lenders , suppliers and tax authorities .

In contrast, bookkeeping is a record-keeping process for reporting financial transactions, usually as part of a monthly or quarterly closing procedure. It’s the bookkeeper’s job to record all financial transactions, while accountants use the information created through the bookkeeping process for analysis.

What does a bookkeeper do?

A bookkeeper in a small business records all transactions taking place. They will manage the accounts payable and receivable, account reconciliations, reports necessary to run the company, payroll functions and also prepare financial statements for management. A bookkeeper for small businesses does not deal with any legal or tax issues.

Why do I need a professional bookkeeper for my small business?

Bookkeepers have years of experience in accounting and will be able to find the loopholes within your business quickly. They know what should go into each category, where it should sit, which forms need filing, when they are due and how everything works together to keep your business running smoothly. Bookkeepers will be able to do a lot more for a company than a simple tax return, because they understand the full working of a business.

Proper bookkeeping services can go a long way in making sure that your business stays afloat financially. The last thing you want is a situation where your business cannot pay its debts when they come due. It’s better to be safe than sorry, which is why bookkeeping services make a lot of sense for small businesses.

Why is bookkeeping essential for the success of a business?

Bookkeeping is the management of financial records, especially those related to money and the corresponding flow of money in your business. It helps you monitor every cent that goes into and out of your business. If you use an effective system of bookkeeping, then it will be possible for you to keep track of where the cash is going and where it’s coming from, and how much is generated. You will then know what you can afford or not afford to spend on, for example, advertising your business.

In other words, bookkeeping gives you a clear idea of the financial status of your business at any given time. It provides vital information about the performance of your business and helps you make the right decisions.