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. 

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.

Do you Really Need a Personal Accountant?

In the world of accounts, surrounded by offerings like CPA services in San Antonio, there comes a point where everyone asks themselves; ‘Do I really need a personal accountant? Well, some people might put off an answer by saying it’s totally subjective. But why do that when you can read some points and get an answer that isn’t vague and is right for you.

In this blog, we will be focusing on the three options of hiring a professional or doing it yourself or combining both of them. 

Option 1: Using an expert

When you don’t have time or it's worth more than what you are willing to pay for hiring someone, then you may simply engage in professional help. However, you need to be able to select the professional who will be meeting your needs.

Have a look at the following professionals:

A. Bookkeeper- He or she might offer concierge services for personal finances that include paying bills, balancing checkbooks and looking over the credit card statements as well. They may or may not possess any kind of special training. 

B. Accountant- An accountant is someone who is trained and mostly, has a college degree in the subject of accounting. They can very well handle bookkeeping chores. 

C. CPA- It refers to an accountant who has a college degree and most probably a master’s degree in the subject of accounting. Although, CPAs are well equipped to be providing bookkeeping services, they might be a little expensive for the same. 

Option 2: Do it yourself 

Today, even for the average consumer, user-friendly software as well as cloud solutions are available. The following are some leading options:

A. Quicken 

B. Mint.com

Both of these options have mobile applications that can record information reliably and efficiently. However, something to remember is that there are certain limitations to these options. There is also a chance of errors that professionals wouldn’t usually make. So, keep that in mind before choosing this option. 

Option 3: Combining the two

Sometimes, working with a bookkeeper and getting started with personal accounting is a good idea. Someone who is knowledgeable in the software you are using is a big help. They can set up accounts, operating like folders. This would simplify tax return preparation They can also review the work periodically, making sure that the recording of income and expenses is done properly.

The Conclusion

Combining the two might just be the perfect cocktailed answer to your question of going for CPA services in San Antonio, or doing it yourself. However, try and test it before you put your finger on a permanent answer. Hereby, we wish you luck and smooth accounting. 

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

A guide to understanding payroll!

When it comes to payroll in North San Antonio or anywhere else as a matter of fact, there are many things that are important to know. However, to start with the basics of it all, is something absolutely crucial. Therefore, this blog attempts to give you appropriate information about payroll and how it works.

The most basic question; what is payroll?

A definition given by Investopedia, states that payroll refers to the total of all the compensation that a business should be paying to its employees. It is for a set period or on a particular date. The payroll includes wages, salaries, bonuses, deductions, as well as net pay. In a lot of cases, the payroll is handled by a business’ accounting department. When it comes to small-business owners, they might also opt that their payroll should be managed directly in-house. They may even go for an associate.

Typically, for a business, payroll makes up to the largest deductible. This is because of the expense that it takes for compensating each employee’s wage or salary. The pay periods may also vary because of situations like sick days or overtime.

Apart from compensating the employees, payroll also includes the taxes which the employees of the organization are required to pay. This includes things like withholding taxes.

These are also known as the Pay-As-You-Earn (PAYE) taxes. These are those taxes which the employers should withhold from the wage of each and every employee. The income tax with holdings are always assigned by the state, federal, as well as the local governments.

The employers as well as the employees are also required to pay the payroll taxes like Medicare as well as Social Security. It is the IRS which states that the Social Security’s current tax rate is 6.2% for the employer. It is 6.2% for the employee. This makes it a total of 12.4%. Also, the current rate of Medicare comes to 1.45% for the employer. It is 1.45% for the employee of the organization. The total thus, comes to 2.9%. There is another required payroll tax. These are the unemployment taxes which compensate employees that have lost their jobs.

In order to assess as well as collect payroll taxes in the developed world, there are state and federal-level systems in place.

An important thing to remember is that policies of payroll in North San Antonio would differ from that of another place. So, do your research right before you enter into this world of payroll.

For more tips on payroll in North San Antonio, get in touch with Uhlenbrock CPA at 210-701-1040.

Useful Tips for Small Business Accounting in San Antonio

Amongst many CPA services in San Antonio, small business accounting is an important one. There are many tips that come in handy for small business owners when it’s related to accounting. In this blog, some of the most basic and imperative tips have been listed. Following these will guide all small businesses into the right accounting direction. As providers of many CPA services in San Antonio, Uhlenbrock CPA has curated this list with personal experiences. 

Have a look at the following:

1.Deciding whether to hire a bookkeeper or use an accounting software

It is very common for ambitious and excited entrepreneurs to feel ready to act as the head of accounting, marketing as well as sales, just to think of cutting costs. However, what they don’t understand is that it may majorly help to hire a bookkeeper. It would  make sure that you aren’t racking up all the errors. It helps when you  know that there is someone with experience as well as deeper understanding who’s working on your books. For starters, you could hire a freelancer or even someone part-time. This way, you’re not paying a full time wage. As an alternative, you can use a great accounting program that will let you crunch the numbers on your own.

2. Keeping the accounts receivable payments and borrowed funds, separate

When it comes to small business owners, they need financial backing. Sometimes, they may also require loans for marketing campaigns, or the startup capital, or even other initial things. For making sure that the loans do not appear in the receivables, using software which separates the income from borrowed funds, is a great idea. One should never lose sight of what’s theirs and what’s to be paid back.

3. Clients shouldn’t get away without paying balances

When you see a huge amount in your receivables column, it’s always a good thing. However, the money doesn’t get counted until it makes its way into your bank account. Do not let clients avoid the regular payments that they should be making. Standing firm and insisting that you receive the payment for all the past orders, before giving more materials or services is a good way to go about it. The department of receivables is very crucial for keeping the company afloat. Therefore, it may make sense to think of improving your invoices or updating the billing as well as invoicing software.

These three tips are not the only ones to be followed. However, they are the very important ones. A little more research on the subject will allow you to know more. 

For more tips on small business accounting, get in touch with Uhlenbrock CPA at 210-701-1040.

Business Accounting is a Step by Step Procedure

Business accounting is the process in which calculation of taxable amount payable to the government and total revenue is done properly. It is very important to hire expert business accountants who work to accomplish the final tax valuation. These professionals also take responsibility to pay the taxes on behalf of their fruitful client-base.

If you are planning to hire business accountants for business accounting North San Antonio, think about certain things mentioned below:  

1. Local Accounting Firm Matters A Lot -
If your business needs an individual or team of accountants whom you can attend business meetings alongside you, from time to time. The best way is to choose a local firm that can give you such option. The decision to prefer any local firm depends on the needs of company.      

2. Seek Recommendation from Top Business Advisers -
Find expert business advisers who are willing to give you with the sound business advice on your decision making of running a business and generating good revenue. These advisers may even recommend good advise to increase profit of your business.

3. Choose Certified Public Accountants -
Certified accountants have more knowledge and experience in the accounting field. Hence, they can help you to add great value to your small or big business. These tax professionals have gone through strict competence program, which make sure about their expertness in managing accounts.

One of the certified public accountant firms is Uhlenbrock CPA that offers great CPA services in San Antonio. Uhlenbrock CPA is a trusted firm that offers the best services of business bookkeeping, QuickBooks accounting, tax planning, tax preparation and IRS audit representation too. 

In addition to this, they are certified and highly experienced in dealing with the clients of diverse needs of business accounting North San Antonio. 

Get in Touch with Us
Uhlenbrock CPA, PC
1000 Central Parkway North, Suite 120
San Antonio, Texas 78232
+Phone: 210-701-1040
Fax: 210-701-1040
www.uhlenbrockcpa.com
mike@texascpa.net