A better way to execute bookkeeping!

Are you also a businessman who worries too much about your numbers being added up correctly? And do you really wish to spend so much time on a task that you don’t need to do, especially when you should be giving your time to something more important? The fact remains that making mistakes adds up. This is especially the case, when those mistakes end up leading to an audit or something even worse like bankruptcy. 

Statistics show that around 30% of small businesses fail within two years. This is because of the expenses continuously outweighing the profits. This is exactly why it’s crucial to keep an accurate book. 

This blog will simply talk about a better way to execute business bookkeeping San Antonio! 

The suggestion being made here is to hire a bookkeeper! Although this way comes with its own cost, it can save your business big time in the long run.

Here’s how hiring becomes your best option:

1. Your bookkeeper will prevent errors

Even if you think you’re the most seasoned business owner, you might just end up messing up on your books, simply because of the lack of proper experience in this area. Such kind of mistake could range from missing entries to data entry errors, from mixing up types of expenses to double entries etc. However, when you hire a professional bookkeeper with a keen eye, he or she is less likely to make such kind of newbie mistakes.

2. Your bookkeeper will keep a tight schedule

One of the roles that a bookkeeper plays on getting hired is paying the bills. This is why they’ll always  know what time is the best for spending within the budget. Moreover, they’ll be accurately invoicing with timeliness. When you’re running your own business, it is very easy to fall behind, when it comes to paying and accounts receivable. With a bookkeeper, you won’t need to pay any late fees and you’ll also get paid on time!

3. Your bookkeeper will analyze and understand the company’s standing

After hiring a bookkeeper for business bookkeeping San Antonio, you can know where the company stands financially. This would help in figuring out where you can/should invest/allocate/cut back money. He or she would simplify as well as clarify any confusions and explain important concepts.

In conclusion, there is a better way to execute bookkeeping; Hiring a bookkeeper is the way to go!

For more tips on business bookkeeping 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

 

Selecting a CPA for your restaurant business!

There are some advisers who are as critical to your business’ success as clouds are to rainfall. In this blog, the focus is going to be paid on the selection of competent certified public accountants; CPAs for a restaurant business. CPAs have the ability to identify pitfalls as well as opportunities which you may miss while focusing on other areas of the business. In order to make the right choice while selecting CPA services in San Antonio, you will need to carefully consider the options.  Finally, our role is to choose someone who is going to best meet the needs of your business.

Firstly, be clear on the fact that accountants and CPAs are not the same thing. A CPA passes a rigorous two-day examination as well as meets the work experience requirements that are needed for obtaining licensing. Their advanced training and experience make them a useful resource. With a good CPA, you can use his suggestions of operational changes, and save yourself thousands of dollars.

Following are two key considerations that should be taken into account when selecting your CPA for a restaurant business:

1. Business experience related to a restaurant
Restaurant accounting is complex. Therefore, you would want a firm with at least a little experience in the industry. When it comes to successful restaurateurs, they track their inventory, labor as well as food costs. They also keep updated with legislation that affects the restaurant industry. These are some of the industry considerations that a CPA with relevant experience can help you navigate. It would also save you from making costly mistakes.

2. Inquiring about the services offered
Usually, you will be offered a range of CPA services in San Antonio. Firms vary in sizes and therefore the services offered will also vary. Generally, firms offer bookkeeping services, tax preparation, management consulting, and business financial planning services. Some may also offer audit, business valuation, etc. You will need to compare the services that each of your options are offering. Take a decision only after closely considering the firms' services and comparing them with your business’ needs. You don’t want to end up with the wrong set of services being rendered to your business.

These are the two imperative factors for choosing a CPA for your restaurant business. However, you should keep in mind that there are many other factors like staff availability and compatible, getting references etc. that must be taken into account too. Nevertheless, the two main factors shouldn’t be missed out on, in any condition.

To know more about CPA accounting services in San Antonio, contact Uhlenbrock CPA at 210-701-1040.

Quick Online Hacks for QuickBooks That Make A Difference!

Discovering new tips related to QuickBooks online is always exciting and majorly helpful. In order to find such tricks which make the work more streamlined as well as easier, the best thing to do is to seek out the experts of the field. However, to make it easy on you, this blog has come up with all those hacks that an expert can tell you about.

These are the three QuickBooks hacks, that you should know and implement to business accounting Stone Oak:

1. The use of attachments
2. The creation of cash receipts
3. The automation of emails

Now, it’s time to have a look at the elaborations of the above hacks, explaining how they benefit. Have a look:

1. The use of attachmentsThe hack you’ve been overlooking might just be attachments. You can easily attach certain files directly to the vendor record through QuickBooks Online. It makes the whole process a lot easier. Uploading bank as well as credit card statements onto the attachments folder is also possible. This way, at the end of the month and the end of the year, it’ll all go faster. Also, with this, your accountant can have access to them too.
2. The creation of cash receipts
A simple cash receipts journal, can majorly help in quickly reviewing the money that has been received, for a particular period of time. Doing this directly through the sales center, without modifying the report at all, becomes hugely convenient for all the users like you.
You can easily create a journal of all your cash receipts, in sales transactions..
3. The automation of emails
It’s quite simple; everything becomes easier, when it’s automated. It is recommended by experts, to set up a group of reports that could be automatically emailed as they are scheduled. For example, a collection report and a sales report that is emailed weekly which makes you stay on top of all the open invoices is a great option. Another option could be setting up financial statements that can be emailed on a monthly basis.
Additionally, setting up recurring invoices for automatically emailing them on a schedule is another great idea.
Essentially, if you’re using QuickBooks accounting software San Antonio, you can easily automate the entire sales process and get better at Business accounting Stone Oak. By applying these three quick hacks to your working system, you can save loads of time as well as a severe headache. So, what are you still waiting for? Get to it asap!
To know more about the great hacks, contact Uhlenbrock CPA at 210-701-1040.

How Do Businesses Use QuickBooks Accounting in San Antonio?

QuickBooks refers to a small business accounting software program. From solopreneurs to mid-sized businesses, everyone can use is for managing sales as well as expenses. It also keeps track of the daily transactions in a business. It can be used for invoicing customers, paying bills, generating reports for tax filing, planning, etc. All in all, it includes several solutions that work great for almost anyone. This blog will take you through the elaboration of the top three uses of QuickBooks Accounting in San Antonio. 

Have a look at the following ways QuickBooks software can be used for businesses in San Antonio:

1. Management of Sales and Income

In QuickBooks, you will be able to manage sales and income through creating invoices for tracking sales by the customer. In this way you can stay on top of what customers owe you and know your accounts receivable balance as well, simply by reviewing the accounts receivable aging report. This would include the details of both current as well as past due invoices. 

2. Keeping Track of Bills and Expenses

With the help of connecting your bank as well as credit card accounts to QuickBooks, it will automatically keep a track of your bills and expenses. This is why all the expenses are downloaded and further categorized. Whenever you will need to track a cash or check transaction, you can record it directly in QuickBooks, within a few minutes.QuickBooks helps in paying the bills when they’re due, by allowing you to create an accounts payable report, taking hardly anytime. This report tells you about your current and past due bills.

3. Gaining Key Reporting Insights

You will be able to access several reports providing valuable insights, once you start managing cash inflow and outflow activities in QuickBooks. In QuickBooks, all reports are pre-built. Therefore, they can be run in a few clicks. When you enter and save transactions, reports get updated in real-time.

If you need to provide financials to a potential investor etc. this can be truly beneficial. You can also run the top three reports for assessing the overall health of the business. These would include Profit and Loss Report, Balance Sheet Report and the Statement of Cash Flows.

QuickBooks Accounting in San Antonio is being preferred by various businesses. It helps them to go paperless makes them turn into a more organized business. However, you should be reviewing the multiple resources available and pick the right solution for your business. For affordable QuickBooks accounting in San Antonio, call Uhlenbrock CPA at 210-701-1040.