We at B&J Bookkeeping & Taxes are experts in keeping the books for all kinds of businesses. As a result, we can tell you more on why you should get it, what is involved, and how much you can save. Read on to get our guide on Houston bookkeeping services for small business.
1. What Your Bookkeeper Will Do
Certain tasks are fundamental to properly maintaining the books for your business. Some are done on a monthly basis (such as reports), some are done as needed (such as fraud alerts), and some are done each year (such as tax preparation). These include:
- Sending invoices – We know the importance of getting paid on time, which involves sending out invoices as soon as possible. Your bookkeeper can take care of the who, when, how much, and when the invoice is resolved. Additionally, your bookkeeper can move the funds to the right account and make a record of the transaction for tax purposes.
- Transaction recording- All transactions should be recorded, including all credits and debits. This includes everything from your morning cup of coffee to a huge payout to a catastrophic loss. Often an accounting software is used to send you reports so you can see all transactions at once, or get details on a specific one.
- Statement preparation – In coordination with the above, your bookkeeper will prepare regular statements for your business. This is usually done on a monthly basis, unless you have a preference. Some businesses may also request quarterly, year to year, or other statements. The purpose of it all is so you may see your finances as a whole in order to make informed decisions.
- Payroll – Many external services offer to do payroll, but there are benefits to having a bookkeeper perform them. Firstly, they already have access to your financials. Secondly, some bookkeepers may add payroll services at a reduced cost if you already use them for other services. Finally, your bookkeeper works for you. A reliable one is worth their price in trust and knowing that no one can tamper with your payroll.
2. Can My Bookkeeper do My Taxes?
The short answer is: yes. Your bookkeeper already has all the information needed to prepare your business taxes in a quick and effective manner. Best of all, they can advise you during the year to meet certain minimums, not exceed maximums, and many other useful tips to reduce your tax burden.
3. How Can My Bookkeeper Save me Money?
There are many ways your bookkeeper can actually save you money and provide value to your business. A few ways include:
- The aforementioned benefit of helping minimize your tax burden.
- Avoidance of costly mistakes that are often made by business owners who do their own bookkeeping.
- Avoidance of fraud, scams, and external agencies who may not respect your books.
- The benefit of having regular financial statements to give you valuable information.
- A minimum of several hours saved per month by taking bookkeeping off your plate.
More Houston bookkeeping services for small business
Feel free to contact us to learn more about our small to medium sized business bookkeeping services for those in and around the Houston area.
