If you want to take your small business from good to great, consider hiring a bookkeeper from Community Tax. Getting your business off the ground is tough, but with a qualified bookkeeper taking care of the checks and balances, you can spend less time worrying about the little details and more time expanding your business. Leave the minutiae to Community Tax and focus on your financial future.

Every business needs someone to take care of their basic financial accounts. As a business owner, you wear many hats, including CEO, CFO, salesperson, marketer, developer, and so much more. On top of these responsibilities, you’re tasked with keeping your finances in order, tackling payroll, business income tax, and more. Small business bookkeeping services from Community Tax take the burden off your shoulders so you can concentrate on making your business thrive.

What do Bookkeepers Do?

Bookkeepers are responsible for maintaining all financial accounts related to individuals, businesses, and organizations. They “keep the books,” meaning they create a record of all financial documents and transactions in a general ledger. A qualified bookkeeper is your go-to source for daily financial recording and financial reports. If you need someone to maintain a detailed record of all of your receipts, business expenditures, and invoices, a bookkeeper might be what you’re looking for. Bookkeepers can manage tax deductions, help prevent you from undergoing a CRA audit, and avoid harsh penalties from the IRS. With an accurate record of all of your financial information at your fingertips, you never have to worry about losing track of your finances. Save time and money by using our small business bookkeeping services.

General Bookkeeper Tasks

Bookkeepers can take on a myriad of tasks to keep your business running smoothly. Our bookkeepers use a hands-on approach to assist clients, so you’re getting personalized service from someone you can trust. Below are the ways our licensed bookkeepers can take your business to the next level.

Balance and Maintain General Ledgers

A general ledger keeps a record of all final transactions throughout the lifetime of a company. It contains a detailed list of accounts payable, notes payable, accrued expenses payable, customer deposits, and much more. Maintaining a detailed and accurate account of all of this information is critical to keeping a business afloat. Our staff will customize a monthly, quarterly, and annual report to help you stay on track with your goals. When you need to prepare a financial statement or prepare for an audit, a bookkeeper can help you analyze your general ledger and provide a detailed report.

Balance and Maintain Subsidiary Accounts:

Your subsidiary ledger is a collection of similar accounts that provide the details in a general ledger. This includes particulars for accounts receivable, accounts payable, and so on. You’ll find information here about returns of merchandise, discounts, credit sales, gift cards, job orders, and more. These little details can make a big difference as they accumulate over time.

Run Payroll:

If your business is growing and you have multiple employees, you might want someone to take care of payroll. An eligible bookkeeper can process payroll for you, so you don’t have to. If you outsource your bookkeeping to Community Tax, you can expect payroll to be handled accurately and on time, and you can refer your employees to us if they have any questions or concerns.

Manage Accounts Payable:

Bookkeepers often take on the task of managing business payments. Any payments including monthly office rent, cable or Wi-Fi bills, insurance payments, and other fees are handled by bookkeepers to keep your business running smoothly. If you ever need to check the status of a bill, one of our bookkeepers provide the information you need with immediacy.

Management Advising:

A bookkeeper has direct access to your ledgers, which means they can easily spot the financial trends of your business. They see your profits and expenditures on a daily basis, so they’re qualified to give you informed financial advice that can help you make wise decisions. You can trust an experienced bookkeeper to provide up-to-date information to avoid or remove yourself from a financial predicament.

Preparing Financial Reports:

Bookkeepers create structured financial reports that outline all relevant financial information. You can request a statement of financial position, an income statement, profit and loss report, an equity statement, statement of retained earnings, and a cash flow statement, among other documentation options. A bookkeeper from Community Tax can make a comprehensive financial report that outlines your information in a simple and easy-to-read format.

No matter what industry you’re in, bookkeepers from Community Tax can help you strategize the next steps of your business. You can save time and resources with our financial professionals helping you every step of the way. If you want to outsource your bookkeeping, choose Community Tax to manage your accounts, reports, and ledgers.

Hire a Bookkeeper for Your Small Business

If you’re like many small business owners, you might be looking for more ways to save money. The first few years of your business build the foundation of your future, and the decisions you choose can make or break your success. Spend money where it counts; a trusted bookkeeper can help you make strategic moves toward your goal and prevent you from making critical errors. Whether you just launched your career or you’re a few years into development, our bookkeeping services for small businesses make your business stronger.

Bookkeeper Educational Background

Bookkeepers need at least a high school diploma to embark on their career. While many bookkeepers don’t have college degrees, you should expect them to show proof demonstrating that they’ve learned basic bookkeeping tasks. The most common educational background for bookkeepers includes an associate’s degree and certification. Employers typically require one or both of these if the candidate doesn’t have any other formal education. Our bookkeepers have years of education and experience under their belt.

Earning a Bookkeeping Certificate

Only hire a bookkeeper with a certification from the American Institute of Professional Bookkeepers. An authorized bookkeeping certificate program generally takes a year to complete, and during this time they learn the ins and outs of basic accounting principles. Bookkeepers have a working knowledge of bookkeeping software, taxes, business math, and much more. You can expect a bookkeeper to come out of the program with a working knowledge of common data programs and bookkeeping methods.

Earning an Associate’s Degree in Accounting

Many bookkeepers earn their associate’s degree and certification simultaneously. A bookkeeper with an associate’s degree has studied at a higher level to gain a deeper understanding of bookkeeping and accounting methods. You can expect a bookkeeper with an associate’s degree to know more about financial accounting, managerial accounting, economics, auditing, statistics, and more. With an associate’s degree, a bookkeeper should be able to integrate bookkeeping and accounting methods into their skillset.

Earning a Bachelor’s Degree

Some bookkeepers earn a four year degree, but it isn’t necessary. If you’re looking for a bookkeeper with a college degree, look for a candidate with a bachelor’s in accounting, math, finance, or other related field. Not all bookkeepers are accounting majors, but they should be able to show you a bookkeeping certification to show you they’re qualified.

What to Look for When Hiring a Bookkeeper

Besides having a certificate or a degree, there are a few basic skills a bookkeeper have to contribute to your business. Your candidate should possess a few soft skills, including:

  • Excellent Communication

Don’t expect a bookkeeper to sit in a back office crunching numbers all day; they also have to communicate relevant financial information to your team. If they see a pattern or problem in their records, they must be able to speak to you in terms you can understand so you can both find a solution. When they create financial reports, they should be able to break down complex information into bite-sized pieces that are easy for a layman to comprehend.

  • Confidentiality

Bookkeepers handle highly sensitive information on a daily basis, so it’s important they remain discrete. They should be able to follow an ethical protocol that determines what they show and who they show it to. A wise bookkeeper of high integritywill keep sensitive information confidential between the two of you.

  • Attention to Detail

Keeping an accurate record of financial information requires a strict attention to detail. You need someone with a keen eye who can recognize any mistakes or inconsistencies in your accounts before they cause an issue. An experienced bookkeeper can analyze your ledgers and determine what mistake was made, how it was made, and how it can be corrected.

  • Critical Thinking

You can expect a professional bookkeeper to have thorough problem solving skills. As they organize financial data, they should be able to recognize patterns and give you expert advice on how to avoid issues and capitalize on opportunities. A bookkeeper can work with you to create a comprehensive strategy that can improve the way you spend your money.

Accounting Services from Community Tax

A bookkeeper can keep tabs of the checks and balances, but what if you want someone to file your taxes or complete an audit? If you want to maximize the monetary efficiency of your business, you might want to hire an accountant. Accountants are similar to bookkeepers, but they have a wider skillset that’s designed to help develop businesses from a big picture perspective. Expert accountants can give you informed financial input, file your taxes, and create some financial documents that bookkeepers aren’t allowed to do. Certified Public Accountants, or CPAs, have the ability to prepare audits and represent you before the IRS. Whether you should hire an accountant or a bookkeeper depends largely on your goals and the size of your business. When it comes to tax season, you may want an accountant by your side. Contact us today and we’ll give you our honest advice as to whether you should hire a bookkeeper, an accountant, or both.

Accounting and Bookkeeping from Community Tax

Our clients come to us with a variety of financial issues. Whether you need advanced financial analysis or simple tax preparation, we offer a diverse array of services and packages that can correct the problem and help build a positive future. Don’t bother sifting through mountains of applications to find a worthy bookkeeper; outsource your bookkeeping needs to Community Tax, and you’ll receive top-notch services from some of the greatest financial specialists in the industry.

When you outsource your bookkeeping needs to Community Tax, you no longer need to worry about receipts, invoices, or other paper documents. We’re paper-free, so your ledgers and financial reports are streamlined in a digital format. You can simply scan and email your paperwork to us, and we’ll update your information quickly and efficiently.

Looking for a package deal? We offer packages that bundle bookkeeping and accounting services together. Through our bronze, silver, and gold deals, you can organize your finances to suit your needs. You can also choose from our á la carte services to create a custom plan. Choose from our selection of services, including:

  • Account Reports
  • Adjusting Journal Entries
  • Annual Payroll Tax Returns
  • Quarterly Tax Returns
  • W-2 and 1099 Misc Prep
  • Customized Financial Reporting
  • Sales and Use Returns
  • 940/941 Filings and Amendments
  • State and Local Payroll Filings
  • EOY 1099s
  • EOY W-2’s
  • Poster Compliance Update Service
  • Application for Agency ID’s SUI and SIT
  • Individual and Corporate Tax Returns
  • Tax Resolutions
  • Audits
  • And more!

Our team has decades of combined experience in providing accurate financial reports, data entry, and tax services. If you’re ready to expand your business, call us today and we’ll create a plan to get you on the path toward your goals.

Our Experienced Professionals

Every member of our team has extensive experience in the area of finance, accounting, and taxes. Our experts come from diverse educational backgrounds, so they have the knowledge and skill to look at your business from multiple perspectives. When you choose us, we’ll assign you an individual or a team of finance specialists to keep your business running smoothly. If at any time you wish to explore our other areas of service, we can refer you to our other well-qualified professionals, such as:

  • Bookkeepers

Bookkeepers can handle all of the above tasks and more. The right bookkeeping services can enhance your productivity and help protect your business against costly financial mistakes that could otherwise land you in hot water with the IRS.

  • Accountants

If you need advanced help keeping track of audits, tax preparation, and financial growth, an accountant might be what you’re looking for. Many of our accountants are CPAs, which means they’ve completed a rigorous three-part exam to distinguish them as some of the best in the industry. They can give you insight into important growth opportunities to help maintain and expand your business.

  • CPAs

You can count on a CPA from Community Tax when you need representation before the IRS. CPAs know the ins and outs of tax law, so they can optimize your tax deductions within ethical standards and negotiate with the IRS.

Why Small Businesses Choose Community Tax

We understand that bookkeeping for a small business can be tough, so our mission is to create the best possible service to take some of the burden off your shoulders. If you want your business to reach peak success, let us tailor a custom plan to keep you on the right path. Looking for services other than bookkeeping? Our CPAs, enrolled agents, and licensed tax attorneys have worked in a variety of settings with a diverse range of clients. Whether you need to create a financial plan or you need to negotiate a deal with the IRS, our specialists are standing by to get started on your case.

Community Tax is proud to be an “A+” rated company by the Better Business Bureau, as well as an accredited member of the Consumer Affairs department. We’ve solved thousands of cases and helped countless businesses maintain their finances. When you decide to outsource your bookkeeping, you can have peace of mind knowing that our finance experts will give you top-notch bookkeeping services. Call us today at 888.684.5798 and we’ll give you a free consultation.



0 thoughts on “Small Business Bookkeeping & Accounting

  1. Thanks for sharing this great post. I was looking for some information regarding this. Finally got one. The article was helpful to understand the difference between bookkeeping and accounting. Moreover now I know which is better for my business.

  2. My brother wants to open a store next year, so thanks for sharing this. I like your point about how a bookkeeper can keep track of info on a daily basis. Having someone to track sales and taxes would be helpful for a business just starting out I bet.

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