Wednesday, 28 October 2020

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. 

accountant in San Antonio

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 or contacting 210-701-1040.  

Wednesday, 21 October 2020

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.

bookkeeping services in San Antonio

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 or contact 210-701-1040 to know more.