Great accountants always look out for cooked books!

We all know that all companies manipulate their numbers to a particular extent. This is how they make sure that budgets balance. This is also how the executives score bonuses, as well as how investors continue offering up funding. All this is not something that you may be unaware of.

Therefore, it is important for investors to know how they can recognize the basic warning signs when it comes to falsified statements. Along with this, an accountant in San Antonio should be aware of what is going on, and never let something like this happen. 

In this blog, you can see a list of the ways that some companies use to manipulate their accounting practices. Here’s exactly what skilled and expert accounts in San Antonio, successfully look out for: 

1. Revenues that are accelerated - One of the common ways of doing this is by booking lump-sum payments as current sales when the services were actually delivered over the span of years. Take this as an example- a software service provider might be receiving an upfront payment for a five-year service contract. However, they may be recording the full payment as sales, for the particular period in which the payment was received. A reliable accountant in San Antonio would know that the better, correct, as well as a more accurate way, is to be amortizing the revenue over the life of the service contract, i.e 5 years. 

2. Expenses that are delayed - There have been a few companies who have been guilty of delaying expenses, while still in their first distributions. Those companies viewed this as a marketing campaign. They thought it to be a long-term investment that would capitalize on the costs. In this, they simply transferred the costs from the income statement to the balance sheet. This is where the campaign would then be expensed over a period of years. However, an account in San Antonio who knows from right to wrong would know that the more conservative as well as appropriate treatment would be to expense the cost in the correct period. 

3. Pre-merger expenses being accelerated - Now, this one may seem a bit counterintuitive, however, before a merger is absolutely completed, the acquired company will pay/possibly prepay, as many expenses as it is possible for them to pay. Later, post the merger, the EPS or earnings per share growth rate of the combined entity would be looking higher as compared to the past quarters. Moreover, the company will have already booked their expenses in the previous period. An accountant in San Antonio, who has quality experience would know what to look out for here!

Reading all that must have urged you to get an accountant in San Antonio who is skilled enough to spot such things, so that your company never faces a problem because of the books cooked wrong.

Moreover, there’s much more to it than you have just read.

You can find your answers, and a great accountant by visiting http://www.uhlenbrockcpa.com/ or contacting 210-701-1040.  

Why should hiring a bookkeeper be your next step?

Your accountant must have suggested hiring a bookkeeper by going for bookkeeping services in San Antonio, and maybe that caught you off guard when it really shouldn’t have. People often assume that accountants and bookkeepers have the same role to play. However, both of them can offer valuable insights from many viewpoints.

The major role of bookkeepers is to be involved in the day-to-day tasks of overseeing the accuracy of data entry when it comes to the company’s payroll. He is also involved in sending out invoices as well as paying bills on time. Therefore, when you hire for bookkeeping services in San Antonio, the bookkeeper would also have a duty to make sure that the company expenses are being tracked and are being reconciled appropriately, and that the reporting protocol is being followed properly.

Here’s why hiring a bookkeeper should be your next step:

1. The Financial Data’s Accuracy: We all know that, with the competition given in any industry, regardless of the business type, makes it all becomes a fast-paced game. Every day a business owner is needed to make decisions very quickly. All such decisions can only be informed ones, and lead to desired outcomes when there is an availability of accurate as well as up-to-date financial information. Therefore, regardless of whether a decision involved taking up a new office space or simply hiring a new HR Manager, it would be vital to have updated financial information. When you enter your business transactions every day, it would highly influence decisions. These decisions would later help businesses falter or thrive.

2. Reduction in the cost of financial responsibilities: When you choose to go ahead and do your financial data yourself, you may be thinking it would cut costs, but in the real sense, it would only be making the situation worse. When you go for bookkeeping services in San Antonio, to get a professional bookkeeper, it will help you save money on penalties for wrong tax filings. It would also save a lot of time that you could use for concentrating on growing your business.

When you pay bills on time, it helps avoid interest as well as late fee payments. This, of course,  helps the business save money. Also, when you have your financial records in order, it majorly helps in getting credit from banks as well as other lending organizations. The process of presenting accurate and up-to-date information to accountants would always allow them to spend more time in analyzing your finances. Further, they will be able to recommend better insights that would definitely help the growth of a business.

3. Day-to-day knowledge of financial information: A bookkeeper is always up-to-date with financial records and therefore becomes the go-to person when you need to know why a payment is late etc. A bookkeeper can provide great insights when an accountant raises questions about revenue collection or gross profit margin etc.

There are many more compelling reasons for hiring a bookkeeper for your business. 

Get in touch with Uhlenbrock CPA now! Visit http://www.uhlenbrockcpa.com/ or contact 210-701-1040 to know more. 

Why Should One Hire A Professional Accountant For Their Business?

In today’s world of independence, everyone has started believing that there is nothing they cannot do on their own. Given that this theory is motivating and correcting to a point, there are some things that people are not paying attention to while believing so.  

Yes, in these times, people have learned how to repair machines, paint houses, or execute business bookkeeping in San Antonio for their business. However, they are in an illusion that they will be doing a better job at it. A quality repairman, painter, and a professional accountant will always be better at the respective tasks. 

This becomes one of the major reasons for hiring a professional accountant for handling the accounting activities like tax services and bookkeeping in San Antonio for your business. The following is a list of two very important points that can show you the things they will be better at, as compared to you doing them on your own: 

Avoiding an audit: One of the most compelling reasons for hiring a professional accountant for handling the accounting activities like tax services and bookkeeping San Antonio of your business is in order to avoid the audit that is much dreaded by everyone in every field of business. The sad part is that most of the people have a belief that an accountant can be someone who can solve this issue after it has occurred. The crucial thing that such people should remember is that an audit can very effortlessly be avoided. This can be done if these people get the right kind of guidance as well as directional counsel from a professional accountant throughout their business year.

Planning for the future: It is a fact that you as a businessman are thinking about your business’ future all the time. However, when it comes to looking at a bright future in terms of business bookkeeping San Antonio and making it come true, a skilled accountant is required. Not only will they know what to do in order to get there, but they will also share these thoughts with you, and take the load off from you of actually executing the planned processes.

There are many more valid reasons for hiring a professional, skilled and experienced accountant for your business. These two points make up for just a few of the important ones. In the end, it’s always better to invest in an accountant to save loads of time and money, trying to excel what they can do for you.  

Now, if you have made up your mind, to take this important step for yourself and your business, then you can get in touch with Uhlenbrock CPA. Visit them at www.uhlenbrockcpa.com or contact them at 210-701-1040. 

In no time, you will be experiencing all kinds of benefits of hiring a professional accountant for your business. Expect your business to boom, as you’ll be focusing more of your energy on that rather than on the accounting part of it.

Going back to the basics;Objectives of Accounting!

Accounting systems have been known to help organizations to achieve their objectives. They provide a reliable framework and are able to consistently produce accurate as well as precise financial information.

As providers of corporate payroll services and bookkeeping services in San Antonio, we carry a lot of knowledge about accounting. Therefore, the key objectives of accounting are going to be discussed in this blog. Let’s see a summary of the same in the following points: 

1. The Process of Recording
The very first role of the process of accounting is to maintain a complete, systematic, permanent, as well as an accurate record of all transactions of a business. These transactions could be retrieved as well as reviewed whenever deemed necessary. A reliable financial record becomes the backbone of any accounting system. Without such a system, all other objectives of accounting get compromised. 2. The Process of Planning We all know that organizations always need to plan how they intend to allocate their resources. These include labour, cash, machinery, materials, as well as equipment for competing requirements in the future. One of the most effective ways of executing this is by using many forms of budgets. Budgeting becomes a huge component of managerial accounting. Budgets have the capability of enabling organizations to plan for the future. They anticipate business needs as well as resources. The process of budgeting helps in the coordination of various segments. 3. The Process of Decision Making
Accounting is a process that helps the managers in making a range of business decisions. It also helps with developing policies in order to make the processes of the organization much more efficient than they already are. Management decisions based on accounting information include the following examples:
-What is the price that should be charged for products as well as services for achieving the maximum profit?
-What all products should be produced when there is a shortage of resources, like cash, material, or labour, for maximizing profit?
-Does the business currently need to acquire financing?
There are many more examples like these. 4. The Performance
The accounting helps to determine how well is the performance of a business. It summarizes the financial information into quantifiable measures. Organizations should always have a reliable source for measuring their key performance indicators or KPIs. On the basis of this, they would be able to improve their performance. They can easily compare themselves against their own performance in the past, and against their competitors.
5. The Liquidity
Often, the reason for the failure of many businesses is the mismanagement of cash. Accounting helps businesses in knowing how much cash, as well as other liquid resources, are available at their disposal, for paying for the financial commitments of the business. This kind of information is needed for working capital management. In this way, organizations get help in reducing the risk of bankruptcy, with the help of timely detection of their financial bottlenecks. There are many other objectives of accounting, that become the reason as to why the process becomes so imperative.
If you have realized the importance of accounting systems, and are looking for corporate payroll services, bookkeeping services or any other business accounting services in San Antonio, then visit http://www.uhlenbrockcpa.com/ or contact 210-701-1040. 

Quick Guide to Choose the Right Bookkeeper for Your Small Business!

When it comes to starting a small business, the internet is an amazing resource. It’s not surprising that many of the busy entrepreneurs today are eventually finding themselves burdened with bookkeeping systems which are inaccurate, behind schedule, inefficient etc. This is what regularly distracts entrepreneurs from other important areas of their business. Eventually, this is what leads to negatively impact their company’s financial performance.

Keeping in mind that it is an investment towards the long-term success of your business, you should entrust your finances into reputable bookkeeping services in North San Antonio. This blog talks about a few very important qualities that you should be looking for when you’re about to choose your small business bookkeeper:

1. Organised as well as efficiently process-driven 

A good bookkeeper is one who understands the industry, the business processes that exist, as well as the requirements from your side. Bookkeeping services in North San Antonio would make sure that processes are streamlined as well as adhered to. This would provide you with timely reporting as well as help in meeting the timelines that you require in your business.

Great bookkeepers are always dedicated to your financial and business success. The bookkeeper must have an excellent eye for detail as well as care about keeping the accounts up to date and accurate.

2. Trustworthy & Ethical 

This is absolutely necessary. Both parties should feel absolutely comfortable with each other for building a relationship that is based on trust.

It is highly imperative to give out all the accurate information to your bookkeeper. This allows them to keep accurate as well as up to date records. Having a confidentiality agreement is just good business sense here.

Trust the bookkeeper, but also make sure that the business is protected. 

3. The technical knowledge that is up-to-date 

His software knowledge should be up-to-date. Those bookkeepers who are familiar when it comes to using online accounting software are able to automate many processes as well as reduce the amount of time that is spent on a process like data entry.

The cloud-based systems tend to help the bookkeepers in keeping the accounts up to date. It also enables business owners to identify issues more quickly than ever. This helps them in making decisions that improve performance as well as promote business growth.

4. Smooth communication skills

This is essential for keeping the lines of communication. A great bookkeeper is always aware of the business operations, issues and goals for doing their job correctly. If he’s good at what he does he would have the ability of enhancing relationships with managers, suppliers, and customers alike.

5. Asks the important questions

When you’d go for the best bookkeeping services in North San Antonio, you’d find an amazing bookkeeper. This means that he will ask relevant questions, share ideas with the business owner etc. These ideas would be regarding financial-planning strategies, as well as, ways of increasing revenue, budgeting etc. He will keep coming up with cost-saving strategies for increasing business performance as well as growth.

If you need any kind of help with bookkeeping services in North San Antonio, get in touch with Uhlenbrock CPA at 210-701-1040.

Quick Upside to Bookkeeping Services

The process of bookkeeping is crucial to help maintain accurate financial records. Nevertheless, many businesses are still failing to implement this process. Poor accounting is actually one of the top reasons for businesses failing. Without bookkeeping/accounting, you are as good as blindly driving your business. So, don’t make the mistake of underestimating bookkeeping services in San Antonio, and save your business from wrong or no bookkeeping!

If you’re still not convinced that your focus should be on bookkeeping, we’ve got some pointers that give you a quick upside to bookkeeping services! Here’s why bookkeeping is important:

1. Bookkeeping Helps With The Budget:

It’s important as it helps you in making your budget. When you will have your income as well as expenses are properly organized, it will be easier to review the financial resources as well as expenses. We all know how a budget helps in creating a financial roadmap for any business.

2. Bookkeeping Helps With Tax Preparation:

Usually, a business needs to file a tax return annually. Every year, millions of business owners scramble through their desk in order to find missing paperwork. This tax-filing process is more efficient when you have a bookkeeping function within the company. Bookkeeping is important even to file the personal tax return. This is where you can use bookkeeping services in San Antonio to help you out!

3. Bookkeeping Helps With Organization:

Every business owner should have the skill of being organized. This means that one should be able to find data regarding their business at any time. Few parties that are interested in a company’s financial records are the IRS,  investors, customers, lenders,  and employees. Providing the information requested by them is vital to ongoing operations. By the very definition, bookkeeping is the process of organizing financial information.

4. Bookkeeping Helps With Analysis:

The process also helps with business analysis. It is a tool that is used by the management for analyzing business performance. Financial statements are the products of bookkeeping. They should be regularly generated as well as used for analysis. It is a great option to go for bookkeeping services in San Antonio to make sure this is being done accurately. Analyzing financial statements allows you to track your cash inflows as well as outflows. Bookkeeping would give you information on which business lines are working/not working. This allows you to put your focus on your company’s strengths while improving on its weaker.

5. Bookkeeping Helps With Better Decision Making:

When there is ‘analysis’, there’s better decision making. For you to make the best decisions, you would need access to all the available information about your business. Bookkeeping helps you with exactly that. Isn’t it obvious though? How can one be expected to make profitable decisions without any accurate financial information that backs it up?

To know more about bookkeeping services in San Antonio that can help you get all these benefits for your business, get in touch with Uhlenbrock CPA at 210-701-1040.

Payroll; All questions answered!

Before we get start sharing knowledge on any subject, it’s always better to start from the basics. In this blog, we are going to discuss a lot about payroll, it’s benefits, as well as corporate payroll services. So, let’s begin from the very beginning.

What does payroll mean?

Payroll refers to the total of all compensation that any particular business should pay to its employees. This is in regards to a set period of time or on a specific given date. Usually, payroll is something that is managed by the accounting or the HR department of a business. In the case of small-business payrolls, they may be handled directly by the owner or sometimes an associate of the company. There has been an increase in payroll being outsourced to specialized firms. These are firms that handle paycheck processing, insurance and employee benefits, as well as accounting tasks like tax withholding.

Payroll may also mean the list of employees of a business as well as the amount of compensation that is due to each of them. It is considered to be a major expense for almost all businesses. Also, payroll is almost always deductible. This means that this expense can be deducted from gross income, which lowers the taxable income of the company. Payroll might differ from one pay period to another. This is because of overtime, sick pay, as well as other variables etc.

Diving Deeper into Understanding Payroll

Payroll is referred to as the process of paying a company's employees. This can include the tracking of hours that the employees have worked for, the calculation of an employee's pay, as well as the distribution of payments. 

However, the companies also have to perform accounting functions in order to record payroll, bonuses, taxes withheld, sick time, overtime pay, as well as vacation pay. 

Advantages of corporate payroll services:

When it comes to corporate payroll services, it offers a lot of benefits to the company. One of the most major benefits of corporate payroll services is that they have the ability to produce a variety of reports. These reports have the power of simplifying accounting procedures. It also helps companies in ensuring that they are in compliance with the legal as well as tax filing requirements. The payroll service may even maintain a record of how much personal time or vacation have the employees used.

When you choose a company that offers payroll services, it becomes a great way to streamline payroll processes. It also eliminates the need for an in-house payroll department. There are many business leaders that also choose payroll service companies as they offer the best in legal compliance as well as accountability. When the business leaders choose to work with payroll specialists, they can be assured knowing that any filing or pay mistakes are identified as well as corrected quickly. Hence, it becomes a great way of providing employees with efficient, as well as reliable pay services. 

To know more about corporate payroll services get in touch with Uhlenbrock CPA at 210-701-1040.

How important is tax consulting for you right now?

We all know that tax is something that is one of the biggest expenses which a person is forced to make. Of course, it all depends on the country they are living in. 

When it comes to a paycheck, it refers to the total amount of an individual’s salary minus the tax he has to pay on it. It is known to everyone that the commodity which one pays for, has a tax, and even the investment which one makes has a tax. On top of this, even the services which are required have a tax. 

The best part is that there is a way to get rid of all these expenses. If not get rid, at least there is a way to minimize the amount that one needs to pay. Someone who provides tax consulting in North San Antonio or anywhere else is a tax consultant.  This is a person who is quite familiar with tax laws as well as the rules that people have a need to follow when they are spending the money.

If you decide to go for hiring a consultant and get tax consulting in North San Antonio, then you’ll be able to determine the things that you require to take for reducing the tax that you need to pay. In this way, a tax consultant helps you in keeping more expendable money in your pocket.

Everyone knows that as a citizen, it is your duty to pay the tax. The tax which you pay plays an extremely important role in the development of your own country. You are contributing to better roads as well as the development of new projects in your country. Often, people think that paying some cash in the form of tax is not really a big deal. However, the process of paying taxes has its own set of disputes as well.

Keeping a track of taxes becomes a huge problem. Tax disputes may arise when a person fails to pay a particular tax in the given time frame. The maintenance of tax records in corporate offices would be more complicated. The corporate tax rates are something that keeps changing very frequently. Hence, it will be a hectic job, keeping a track of all the taxes as well as the updates. 

Fortunately, there are corporate tax consultants who provide tax consulting in North San Antonio and are ready to help such corporate companies. There are many surveys that indicate that corporate tax consultants play an imperative role when it comes to the innovation of the companies. Since corporate consultants are people who help the companies in preparing an effective budget plan, they contribute to the company’s growth rapidly. When it comes to the main function of such consultants, it is to check as well as ensure that one is paying the taxes only and only for what they are supposed to and nothing more or less.

To know more about how tax consulting in North San Antonio can help you in figuring out the loopholes in tax laws, etc, contact get in touch with Uhlenbrock CPA at 210-701-1040. 

Digging Deeper into Accounting Services !

We all know that all accountants have constantly been engaged in recording as well as analyzing business transactions. On top of this, they are also involved in bookkeeping along with assessing the financial capabilities of organizations as well as businesses. However, it is a fact that accounting practices differ on the basis of the business environment, experience and management status.

If you’re looking for accounting services in North San Antonio and wish to hire an accountant for your firm, it would prove beneficial for you to get to know about the types of financial accounting and its services. Even if you wish to go for a finance and accounting career, it is advisable to know more about it all. 

There are four main types when it comes to accounting. Have a look at the following to understand them better:

1. Public Accounting

This one is also called assurance services. Public accounting is considered to be the broadest as well as the most varied type of accounting. The accountants that run this type of accounting are experienced in financial analysis, bookkeeping, as well as account management services.

2. Management Accounting

The accountants that run this type of accounting are known to record as well as analyze a company’s financial data. This is what they use for carrying out tasks that include budgeting, asset management, cost management and performance evaluation.

3. Governmental Accounting

This one is where public accounting duties for government agencies are involved. These type of accountants are here to make sure that the revenues, as well as expenditures, are made keeping the law in mind. These are the accountants who are involved in government asset management and budgeting.

4. Internal Auditing

The accountants that are under internal auditing, have the job to review a company’s financial management practices, check for mismanagement, waste and fraud. They evaluate management systems, budgeting, and operations for the efficiency of performance in regards to regulations and laws.

Now, have a look at some of the most common accounting services in North San Antonio  are as follows:

1. Bookkeeping

It involves tasks that businesses need to accomplish with an accountant to ensure the accuracy of all the accounts. Bookkeepers might update financial systems using software or record hardcopy information. Commonly, accounts payable and receivable are monitored as part of bookkeeping.

2. Chartered Accounting

This accountant is a member of a professional accounting body and is often skilled in management and auditing. Sometimes they have a specialization too.

3. Tax Accounting

These accountants are experts in claims and avoiding unnecessary tax paying. They can handle any issues with filing your returns or tax.

4. Accounting Audit

In this type, there are auditors involved in checking financial statements and reports ensuring their accuracy and validity. Often the internal audit tracks down past records and receipts. Auditing gives financial information about the current state the businesses is in.

It is a good idea too know about more types of accounting and study them. This is especially when you are looking for accounting services in North San Antonio or anywhere else. 

To know more about accounting services in North San Antonio get in touch with Uhlenbrock CPA at 210-701-1040.

Are You Overlooking These Bookkeeping Tactics?

Are you new to business? Or new to the process of bookkeeping? Or maybe just looking for a refresher in strategic accounting? All these reasons make you a great prospect for exploring bookkeeping tactics that would most likely enhance the performance of your company.

We all know the basic accounting strategies that San Antonio CPA firms expect us to know. However, these can help in setting the stage for a profitable path. Now, let’s consider a few commonly overlooked tactics of bookkeeping, that would enhance any long-term business strategy.

1. Taking an Active Interest:
This interest has to be taken in your own accounts. The more you are aware of what’s going on with the business, the more chances of it to thrive. Instead of choosing to put your accounting on an auto-pilot mode, which will let someone else take the crucial cost as well as income decisions,  you should be inclined towards making an effort for understanding your own company (at the financial level).
Here’s how you can simply execute that:

• Learn the basics of the process of bookkeeping.
• Spend a few minutes to review your company’s transactions. Make sure to do this each day.
• Sit down with your accounting professionals as much as it is necessary. Make sure the operations are smoothly running.

2. Adopting a Consistent Approach:
The very planning for success always starts with planning accounts. This includes you taking a consistent approach. This will help you to categorize your income as well as expenses. Labeling these transactions in a manner that is uniform, will not only speed up the process of bookkeeping, but it would also vastly improve the accuracy. Ultimately it would also improve the usefulness of the financial statements of your company and all San Antonio CPA firms believe so.

3. Staying on Point:
Often entrepreneurs don’t realize the importance of maintaining control over their cash as well as accounts. There is one method that is worthwhile as well as underutilized but can be used for staying on point with finances. It includes taking advantage of automatic email alerts for utility as well as credit card bills. Also, things like setting up automatic payments for recurring charges save time. It also helps you in avoiding potential late payment fees.

4. Fine-Tuning the Marketing Aspect:
It is imperative to understand where an investment earns the highest returns. This is how you’ll be able to wring the maximum value from your marketing budget. According to many San Antonio CPA firms, something smart to do is to consider separating the advertising expenses by marketing channel. This is how you will be able to compare amounts spent on email, print, social media, customer events, as well as other digital platforms, with all the various results that they generate.

5. Future Planning:
Today’s business concerns should not make you become so bogged down, that you forget to plan for the future. If you think a cash accounting system is meeting your needs today, it is a smart move to at least recognize how large and well-established companies are using an accrual accounting method, and that you might want to adapt it in the future too.

So, the best thing you can do is talk to your accounting professional, about all such tactics. If you need any kind of help with that, get in touch with Uhlenbrock CPA at 210-701-1040.

Get Smart While Tax Preparation

Everyone who is working around tax preparation services in San Antonio knows that the first quarter of the year is the time when the tax season preparation typically heats up for all businesses out there. It’s a time when there is paperwork that needs to be organized. It has the goal of creating a return. This needs to be accurate and shouldn’t hold any financial surprises for the company.

If you get smart and plan early, then the business will be able to stay on top of the paperwork. In this blog, you will find many key initiatives that are worth taking now, so that your business is on top of the tax game. and has the latest information.

Have a look at the following:

1. Organizing tax paperwork
Providers of tax preparation services in San Antonio believe that the process of planning really heats up in January. This is when the companies begin to send out and receive essential tax documents. So, in case you have a small organization, it's important to get a head start. This will avoid a last-minute rush. When you connect with your tax professional, it will help you to get a handle on categorizing documentation.

2. Filing the taxes
It’s great how you can now begin working on your returns, at the earliest that you'd like. Therefore, it doesn’t matter whether you are doing it yourself with tax software or partnering with a tax preparer and using their tax preparation services in San Antonio. However, your return won't be reviewed and processed will the IRS until the official start date.

3. Requirements of the tax preparer
When you decide to work with a tax preparer, you need to understand that they will be needing some key documentation. For starters, they will need proof of your identity. If the case is that they are preparing taxes, on behalf of the business that you own, you will be required to give your Employer Identification Number. This is also known as a tax ID.

The preparer would also try to understand your finances. This would include income from gross receipts from services or sales, returns, sales records, other income, and business bank account interest. It would also include the cost of goods that were sold, including inventory, the ending dollar amount of inventory, the total dollar amount of beginning inventory, items that were removed for personal reasons, and needed materials as well as supplies. A tax preparer also needs your business expenses. These would be the ones that could qualify you for deductions. It would also include credits that reduce the overall tax liability.

Apart from these three important tips on getting smart about preparing your taxes, there are some more like understanding qualified credits as well as deductions, taking advantage of the new tax laws, keeping up with your home state's tax issues, itemizing business expenses, calculating projected payroll taxes, considering an extension, etc.

To know more about such topics, and to get efficient tax preparation services in San Antonio, get in touch with Uhlenbrock CPA at 210-701-1040.

Are You a Beginner at Bookkeeping?

Hey there, are you new to the world of bookkeeping? When you are diving into the pool of accounting in North San Antonio, you are bound to come across the term and the process of bookkeeping! So, isn’t it better to explore the subject than to be intimidated by it?

Let’s explore bookkeeping for beginners!

Single or double-entry bookkeeping?
When you think about single-entry bookkeeping, think of it like keeping your check register. It’s all about recording transactions as the bills are being paid, and making deposits into the company account. Usually, it only works if we have a small company at hand, which has a low volume of transactions.

In other scenarios, where the company is of any complexity as well as size, you should set up a double-entry bookkeeping system. This is where at least two entries are made for each and every transaction. Credit is made to another accounting after a debit is made to one account. This becomes the key to double-entry accounting.

Using cash or accrual accounting?
Whether or not should one be using a cash or accrual accounting system would be one of the first decisions that one would have to make when setting up the bookkeeping system. If you are looking at accounting in North San Antonio for operating a small business from home or even if it is a larger consulting practice coming from a single-person office, it’s better to go with cash accounting. Using cash accounting would mean recording your transactions when the cash changes hands. When using accrual accounting, you would be recording purchases or sales immediately. This would be the case even if the cash doesn't change hands.

A better look at assets, liabilities, and equity
One thing to remember before anyone sets up their bookkeeping system is that they have to understand the firm's basic accounts. This includes the assets, the liabilities, as well as the equity. Assets refer to those things that the company owns. This includes the company’s inventory as well as accounts receivables. On the other hand, the liabilities refer to those things that the company owes. This includes what they owe to their accounts payable or suppliers, business and bank loans, mortgages, as well as any other debt on their books. Lastly, equity refers to the ownership that a business owner, as well as any investors, have in the firm.

There is a lot more to know about bookkeeping services San Antonio, but these basics will help in giving you a good direction!

Benefits of Automating a Payroll System

When you hire professional payroll in North San Antonio, the automated payroll system enables you as the employer, to process your payroll with the help of a computerized system. On the other hand, a payroll system that is manual would require processing by hand. This is why it is considered as a slower procedure as compared to an automated system.

The automated payroll in North San Antonio makes payroll processing easier, and leads to a reduction in errors, that are likely to occur using the manual system. Less time consumed, fewer mistakes committed. The hourly workers get their payment based on the hours they work during the pay period. In order to track hours, the employer uses a time-keeping system, which helps in making payments to the hourly employees accordingly.

Therefore, it becomes very critical, to compute each employee’s time accurately. Various employers use the method of a time clock in order to track work hours. When it comes to using a manual payroll system for computing the time clock data, it needs to be processed by hand. This method, therefore, increases the possibility of committing mistakes while computing.

However, the automated time-keeping system gives the employer an opportunity to import time clock data into the payroll software. Hence, to clock in and out an employee uses a badge or swipe card, or the fingerprint or handprint method. The software computes the time worked after the employer transports the entries into the payroll software.

This leaves the payroll staff member with the responsibility of ensuring that the time transported is appropriate and the necessary edits made. How the payment calculations work In order to compute all the wages, the automated payroll system uses the payroll software. Based on the data fed in by the payroll representative, the payroll software, such as QuickBooks, etc calculates gross-to-net earnings.

Hence, the main outcome or result depends on how accurate was the input fed in by the representative. Therefore, if the payroll representative neglects to make the entry of a terminated employee who had due severance pay, then the system will not pay it. Thus, the system is as reliable as the entries made by the representative.

When it comes to the automated system, it performs all types of payments: overtime, hourly, salaries, double-time, bonuses, commissions, retroactive pay, pay raises, wage deductions, tuition reimbursements, and auto payments. By now, you know that the automated system has the ability to eliminate manual paycheck writing. The system automatically enables direct deposit and generates stubs and paychecks.

To know more about payroll in North San Antonio get in touch with Uhlenbrock CPA at 210-701-1040.

Simplifying Accounting For Your Business

It doesn’t matter what kind of small business you own or plan to start. You will always need to stay on top of your accounting game. If you fail to do so, it can and absolutely will result in all kinds of unnecessary issues as well as obstacles down the road. These would end up potentially slowing down or even halting the growth of your business.

If you are a small business owner, there are going to be countless responsibilities as well as tasks ahead of you. So, it’s a good idea to use these tips from below, in order to help make your business accounting San Antonio easier.

1. Tracking and Sorting All The Business Expense Receipts
Try to keep track of business expense receipts as it really isn’t rocket science. Staying consistent sometimes becomes a problem for most of the small business owners. It is easier to just adopt a habit which is easy as compared to one that is complex. Unfortunately, it’s easy misplacing paper receipts, that cause you to fall behind on the process of bookkeeping.

2. Keeping All Donation and Contribution Receipts
A lot of contributions as well as donations are 100 percent deductible. However, you will need to keep any receipts provided, for claiming them on your taxes. Donations, as well as contributions, must be recorded just like all other business expenses. But it should be done within their own category. This will make an accountant’s job easier when you separate it for them. The easier their job is, the less they would be overseeing the little details.

3. Creating an Accurate Invoicing System
The best way to do this is to have a system in place that keeps all your accounting organized. More organization means fewer headaches down the line. Selecting the correct business accounting software is essential. This is the first step to create a reliable invoicing process.Transferring everything to an absolutely new platform might be a costly endeavor for you. It’s true that professional-looking invoices are crucial, but the features, as well as the scaling potential, is equally important to be considered.

By following these simple, but highly effective accounting tips, you will get huge help in keeping your finances organized as well as on the track.

Spend time now, for more organization, so that it helps you in avoiding accounting mishaps in the future.

To know more about accounting or CPA services in San Antonio, get in touch with Uhlenbrock CPA at 210-701-1040.