Bookkeeping 101 for Small Business

Bookkeeping 101 for Small Business

At Klingler CPA, our bookkeeping services have helped tons of small businesses gain financial independence and develop a financial efficiency that they were struggling to obtain. Bookkeeping is something that many business owners would prefer not to handle themselves, so we provide the following things that help them keep their eyes on their services, and stop worrying about petty accounting details.

Here is a little bit about what we do with our bookkeeping services…

Account management

Small business owners need to make sure that there is not a lot of crossover between their business accounts and their personal accounts. Our experts can help you establish business accounts and keep them separate, as well as run various business credit cards and keep everything neat for the taxman.

Expense tracking

One of the most important financial tips for small business owners, especially in a business friendly state like Utah, is to track all of your expenses. Not only does this give you a clear idea of what you are spending your revenue on, but it also means that you can get tax benefits and breaks down the line. Here is a list of examples that you should be tracking…

  • Meals at business meetings and client lunches (you should track any entertainment costs, as well)
  • Travel expenses, whether they are local or out of town expenses
  • Company vehicle expenses, or vehicles that get used for company purposes
  • Office expenses, which includes everything from the lease to staplers
  • Many, many more

 

Bookkeeping software management

There are a variety of amazing digital tools that help small businesses make the most of their bookkeeping, and make it so that there are certain tasks that are simplified to the point that business owners can do it themselves. Part of our bookkeeping services is to recommend such software and to teach our clients how they can use it to empower their finances.

Payroll

We make sure that the business owner and their employees are able to be paid the correct amounts, and on time. Our payroll services help our clients be sure that each of their employees is being paid, and that all compliance issues regarding payroll are being adhered to.

Tax management

From expenses, to payroll, to anything that you can possibly benefit or be penalized from regarding your taxes, our bookkeeping services cover all of it. Tax compliance is a major part of bookkeeping, and it is one of the core components of our bookkeeping services.