Outsourcing Accounting

Many times outsourcing accounting and bookkeeping needs for small and midsized businesses are more efficient than in-house . For very small businesses, such as one to ten employees, advantages of employees can be much better utilizing their particular skills and backgrounds.Saving time. Errors can easily be eliminated when an expert accountant inputs data. When data is incorrectly, for only lack of knowledge, the particular data needs to be not only identified, but also correctly. This can be a very time-consuming process.

How Can Outsourcing Accounting and Bookkeeping be an Advantage for your company?

* Saving time. Errors can easily be eliminated when an expert accountant inputs data. When data is incorrectly, for only lack of knowledge, the particular data needs to be not only identified, but also correctly. This can be a very time consuming process.
* Better financial decisions. With accurate and timely financial reports, management is in a much better position for financial decisions. When your business chooses to outsource, you should have in writing the time length of when reports will be available.
* Cost efficiency. Saving time also saves costs. Also, there is no overhead for additional employee costs; such as furniture, computers, and software. Also, as contracting out the services, there are no employee costs; such as FICA, paid vacations and other benefits.
* QuickBooks Integration. With QuickBooks Payroll services, you have several options to integrate your payroll data with QuickBooks. These services are very reasonably priced and allow for job costing reporting, if that is a needed for your company.
* Easier Income Tax Preparation. Most all CPAs today, can easily extract your data which is now in more complete form for Income Tax Preparation. Since this saves them time, your cost is almost always lower.

While outsourcing accounting and bookkeeping is usually more efficient, remember that outsourcing to CPAs can be costly. We should understand their knowledge and education is costly. While in QuickBooks, you can go to Help, then ‘Find a Local QuickBooks Expert’. You may want to choose with a professional relationship with a reputable CPA firm.

My firm, KC-Books, has such as relationship with the CPA, Stephen Holt. When I meet Mr. Holt I quickly determined he’s not just a ‘numbers’ person, but a professional with ethics and sincerity for each of his clients. Visit www.kc-books.com for more information.

SMALL BUSINESS SURVIVAL

The recession has been a challenge for everyone and especially small businesses.  America depends on small businesses, so everyone can help by supporting our small businesses.

Here are some steps business owners can take to ensure survival and growth.

• Track your financial information often!  View trends.  With QuickBooks, you can get graphs to show you directions for income and expenses.  Also, review customer types to help your decisions for marketing expenses.  The age old saying “What you don’t know can hurt you”  is very true today.  If you have been paying bills when you find them beneath a bunch of papers, or when you just have enough in the bank, you are under a lot of stress.  There is a better way, which gives you accurate and timely financial information.
• Income Statement Report – Showing you the sources of income and expenses for a time frame.  This can easily be compared to a previous period on one report; such as the fiscal year 2009 compared to 2008
•  Balance Sheet – A listing of the business assets, liabilities and equity at a specific time.

Note:  These two reports are required by IRS Income Taxes and are invaluable for business making decisions.

• Statement of Cash Flows – This gives you information to plan or adjust spending based on cash available, accounts receivable, and accounts payable.
•  Open Invoices – This list customers names, amounts due and due dates which you have not collected
• Unpaid Bills – A detail listing of bills you owe.

 There are numerous other reports available and KC Books can help you in getting the information you need.

KC Books offers:

QuickBooks Setup Assistance

Support of QuickBooks

Troubleshooting

Accounting and Bookkeeping Service

Discounts on QuickBooks Products

One hour FREE Consultation

Kathy Crossley can be reached at 864-399-9408 or kathy@kcbooks.com

Managing Loans Is So Easy

If your business has a loan, you can easily manage your loan(s) with the QuickBooks Loan Manager feature. This user friendly allows management to see where how much money is spend with each payment of principle and interest and without having to manually calculate the amounts each month. Very simply, the loan original information is input, including the original loan date, amount and interest rate. Then each month as you make payments, just go to the Banking Tab in QuickBooks, highlight the loan which you are making a payment and click Set Up Payment. The program asks if this is a regular payment or extra payment. You can select regular payment, click OK. At that time, the interest and principal is automatically calculated and you do not have to do it yourself. It is also very easy to determine how much you owe any particular loan.
QuickBooks allows you to easily determine how much interest you would save if you made an extra payment. It even allows you to input information for escrow accounts, if you have them.
This is only one of the many user friendly yet very feature for small and medium sized businesses. How many of these features can contribute your business success?

KC BOOKS establishes blog site!

Welcome to my blog for KC Books LLC in Simpsonville, SC.  I will strive to give businesses relevant and up to date information on running a business with an emphasis on keeping track of finances.  Please let me know if you have any questions, comments or would like any certain topic addressed.

Kathy