Top Benefits Of Using QuickBooks Payroll for Small Business

 

QuickBooks Payroll service that helps small businesses keep track of their payroll. This includes calculating the correct amount of taxes and deductions for each employee, as well as filing the appropriate tax forms. QuickBooks provides an overview of your business's financial status so you can see how much money is coming in, going out, and whether or not it will all add up to be profitable at the end of the year. If you are using QuickBooks to calculate your payroll taxes, today we're going to talk about some of the benefits that come with this service!

Benefits Offered by QuickBooks Payroll Services:

1. Process Payroll:

The process of payroll is a tedious one. With the recent changes to the tax code, it's important that you keep up with all of the new rules and regulations in order to stay compliant. From tracking hours for each employee, to managing their taxes appropriately- we'll take you through every step so you know how best to do your own payroll correctly.

It can be difficult for employers who are unfamiliar with the ins and outs of Payroll software like QuickBooks Payroll. It's not always easy figuring out what information needs to go where or when something goes wrong how to fix it without understanding its context - but fear not!

2. Prepare Payroll Taxes:

It's the end of the year, and you're finally ready to submit your payroll taxes. You take a deep breath, gather up all of the necessary paperwork, and start filling out all of those forms. But then you get stuck on one thing: what are these tax rates again? We have some information for you!

You'll need to know your federal tax rate in order to complete this process properly. Fortunately, QuickBooks Payroll has it covered with our pre-filled Form 941 Schedule A form that includes calculated withholdings so that you can focus on completing other sections. You might also want to think about any applicable state or local taxes as well - we've got info for that too!

3. Organize Employee Information:

QuickBooks Payroll is an easy way to organize and track your employee information. If you are a business owner or manager, it's important that you have the right software at hand to make sure you're doing everything correctly. With QuickBooks Payroll, there is no need for complicated calculations because payroll management takes care of all the hard work for you! All of these features are built in so that your employees can be organized from A-Z with just one click!

The best part about using this software is that it saves time and money by providing automatic updates on new tax requirements as well as calculating overtime pay rates.

4. Track Company Benefits:

QuickBooks Payroll has made it easier for employers to track company benefits. With a little work, you can set up and manage your employees' health insurance, retirement funds, and more.

5. Assign Each Employee’s Payroll to Jobs:

Who doesn't love to multitask? If you have a lot on your plate, then this is the for you. With QuickBooks Payroll, it's easy to assign each employee’s payroll to jobs and get everything done at once. Simply go into the “Jobs” tab and select which job they are working on by clicking “Assign Payroll Item." You can also edit an existing job or create a new one. This will allow you to keep track of how much time employees spend on various tasks so that you can plan accordingly when assigning work in the future!

MAC payroll solution designed to help employers and employees get the most out of their time and money. QuickBooks Payroll makes it easy for you to manage payroll with an intuitive interface, powerful features, and dedicated support team. With our payroll services, there are no more paper checks or complicated calculations - just enter hours worked from your employee timesheet into QuickBooks Payroll (or import data from other systems) and all of the calculations will be done automatically. You can also make changes on the fly if something comes up after payday!

If you are still confuse about the the QuickBooks Payroll for Business then contact us here for choosing best accounting software for fashion.

Why Your Small Business Can’t Afford to Bad Bookkeeping

 

As a smaller business owner, there are lots of things that you need to worry about to move your startup to the next level. Not only are you concerned about the cash flow but you also carry the burden of overseeing the day-to-day activities of your startup. Technically, you are in charge of every aspect of your enterprise right from budgeting to marketing, customer service, business development, and accounting.

Bookkeeping is an essential component of any business that enables you to record and track a variety of your business expenses. Poor bookkeeping services can lead to a wide range of problems that can bring down your small business. Here are some of the potential issues that may arise should your small business perform poor bookkeeping.

Poor Business Decisions

There is no way you can make accurate business decisions for your enterprise if you don’t understand its current financial health. When you are making tough decisions about hiring or firing of employees, marketing, and business development, you need an accurate and detailed picture of the financial situation of your company. This information is quite crucial since it helps you run critical financial reports and make informed decisions based on the current economic trends that your business startup is experiencing.

Late Filing of Your Taxes

Keep in mind that if you don’t file your tax returns, you will pay interest and penalties which tart to accumulate the day after the due date. You can’t afford to pay such penalties and interest if you are running a startup and you are still struggling to become stable. As if the penalties aren’t enough, a late filing is also a red flag for the IRS that will lead to a business audit. However, you can avoid the problem of late filing by ensuring that your records are up-to-date all the time.

Contact us here for virtual Bookkeeping Services.

Best Practices for QuickBooks Online

 

Even if you’ve been using QuickBooks Online for a long time, it’s good to step back and evaluate your actions.

“Best practices” aren’t enforceable rules. They’re simply guidelines businesses commonly follow in one area or another. If you’re in retail, for example, one best practice might be to always ask customers checking out if they found everything they were looking for. This serves two purposes: It conveys a feeling of concern for the customer’s shopping experience, and it may also lead to increased sales.

Reconcile accounts regularly.

One of QuickBooks Online’s most useful features is its ability to connect to your financial institution’s websites and download cleared transactions. QuickBooks Online also offers tools to help you keep your accounts reconciled online, like you used to do every month when your paper statement came. Reconciling accounts can help you uncover errors. It gives you a truer picture of your cash flow, and it improves the accuracy and timeliness of some reports.

Clean up your lists.

Some lists in QuickBooks Online aren’t overly lengthy. You don’t have to worry about, for example, Payment Methods, Terms, or Classes. Your lists of customers and vendors, products and services, on the other hand, can grow unwieldy over the years. This means it can take more time than it should to scroll through lists when you’re using those entities in transactions. It also puts unnecessary stress on your company file. If you can’t delete any, at least make them inactive.

Keep track of 1099 vendors.

Whether your company uses 10 vendors or a hundred or more, you may have to supply at least some of them with an IRS Form 1099 at about the same time you’re preparing W-2s for employees. Your 1099-related tasks will be much easier if those individuals and/or companies are earmarked. If you think vendors might need 1099s when you create their records in QuickBooks Online, click in the box to the left of

If you’ve been using QuickBooks Online for a while, you could probably come up with your own list of best practices. If you’re new to the site, consider scheduling some time with us to go over more of them. Develop good habits from the start, and there won’t be nearly as much need for troubleshooting down the road.

Contact us here for Quickbooks Bookkeeping Services for Small Business.

Top 5 Accounting Firms in US For Small Businesses

 

Accounting is one of the essential services of any business, be it small or big.

Businesses are often forced to spend a lot on the accounting department. There are various approaches that a business can take when it comes to their accounting needs. It is a good idea to go through the different options and choose the one that will provide the most benefits without having to cost your business a lot of money.

One of the most common options people take is hiring an accounting firm.

The accounting firms take care of all the tax and accounting needs of the business and give you the chance to focus on important tasks that help increase sales and grow your company.

What Is An Accounting Firm? Why is it important for your business?

An accounting firm mainly offers services like accounting, bookkeeping, payroll, accounts payables & receivable and auditing for your business. It produces financial records, so that you can easily track your revenues and expenses. Providing consulting on your business’s overall financial health is yet another important service that an accounting firm offers.

It helps you with long-range planning, such as buying property or upgrading your infrastructure. You will be, hence, able to determine how to break even and what your cash-flow needs are.

Accounting firms conduct audits by examining not only financial records, but also the processes and controls in place to ensure records are being properly kept, policies are being adhered to, and your financial practices help support your business goals and are the most efficient way to do so.

Many accounting firms offer a range of Tax Preparation services. The firm’s accountants can help you figure out a new tax code to help ensure your financial reporting practices are in compliance with current IRS regulations, determine your company’s tax liability, and make sure you meet filing requirements and deadlines.

With these services, you can plan your next moves, figure out whether you are making a profit and make decisions about your company’s growth.

1. ORBA

Located in Chicago, Illinois, Ostrow Reisin Berk & Abrams (ORBA) is a full-service accounting, tax, and financial services consulting dedicated to helping clients achieve their goals and build success.

ORBA provides ongoing accounting services in the form of tax consultation and other advisory roles. They offer tax planners to make the filing process as simple as possible.

Ultimately, you need an accounting firm that listens and invests in the relationship. At ORBA, their clients turn to us as their number one advisor for almost every financial need. They help clients reach their financial objectives through experienced, resourceful and proactive relationships — Relationships built on their ability to be a comprehensive knowledge resource, provide industry-leading face time with clients and maintain a firm-wide culture of dedicated, creative and client-focused professionals.

2. MyaccountsConsultant

MyaccountsConsultant offers a range of accounting, bookkeeping, payroll, accounts payables & receivable, accounting software migration and tax services to private sector companies, not-for-profit organizations, individuals, and fiduciaries—provided by experienced CPAs and QuickBooks certified professionals.

Their underlying goals are to help clients comply with all relevant laws and regulations—and at the same time, maintain their focus on the ongoing strategic and operational issues that only they can address.

MAC – Online Accounting Firm’s services include:

• Accounting

• Bookkeeping

• Payroll Preparation

• Accounts Payables & Receivable services

• Cash Flow Management

• Tax Planning

MAC’s mission is to provide financial personalized service and attention for their clients and to assist them in achieving their financial and business goals.

3. CapActix Business Solutions

Located in New York,  CapActix offers exclusive solutions for Accounting & Finance for small businesses. CapActix brings businesses to the next level by making its functioning smooth & efficient.

CapActix takes the utmost care of the confidentiality and security of their clients’ confidential data. They have taken appropriate measures for security related issues as they firmly believe in data security. Moreover, since exchanging information via emails or any public channel involves some inherent risk, they use a SSL encrypted document management portal which also has document processing module.

4. NCheng

Founded in 1989, NCheng provides a full range of services in audits, accounting, and financial management support to a diversified client base

Their experience and professional resources have been tailored through the years to assist their clients achieve their goals. Their mission is to help businesses achieve their goals and to help them grow and succeed in the long term through sound, strategic management decisions.

Their innovative use of technology, including cloud-based accounting, our understanding of the complexities of the business world, and their creative solutions have all helped to make them respected leader in the business community.

5. Westside Financials

Located in Los Angeles, Westside Financials specializes in helping clients manage their monthly close requirements and staying on top of their complete accounting cycle. Whether it be basic bookkeeping services like reconciling bank and credit card statements, managing payroll, or fractional CFO services like financial forecasts, planning and reporting, Westside Tax works to promote solutions that fit the specific needs of the business.

Final Words

An accounting firm is crucial aspect in your business. You need a firm that is experienced, reliable, and ready to be there for you whenever a need arises. They will not only manage the accounting tasks but also offer practical business advice to support your business planning and growth. Good accounting firms help companies grow, by managing complex financial work and offering advice on practical business issues. This will be guaranteed to save you money in the short and long term. If you choose an accounting firm based on these tips, you reduce your risk of making the wrong choice for your small business.

Top 5 Accounting Mistakes in Real Estate Industry

 

If you are a real estate agent or investor, chances are high that you have already got your hands in innumerable operational issues. Decision making, cashing in on slim opportunities and sales and marketing are some of the core activities that you cannot afford to ignore.

Add to these the importance of keeping a finger on the pulse of rising and fall of real estate prices and tracking new statutory regulations governing the real estate scenario and you are hardly left with any breathing space.

With all these core issues to reckon with you do not have much elbow room to focus on non-core yet crucial activities such as bookkeeping. In any industry, this is always a repetitive, mundane and tedious task, one that mainly involves processing operational data and figures to generate reports based on which current state of affairs can be evaluated.

As such bookkeeping will definitely not be a priority item for maintaining it yourself at the cost of more important tasks. It is therefore always preferable to spin off this component of your business to professional real estate bookkeeping services and get on with the more central tasks at stake.

Bookkeeping Mistakes in Real Estate Business:

1. Poor maintenance of records

This is very common amongst real estate agents and investors not because you don’t know how to keep proper records but because you don’t have the time to be meticulous about it.

Back of the envelope, calculations can be quite uncomfortable for you at tax time when the smallest receipt has to be shown for verification, especially if there is an IRS audit. Producing accurate records maintained by real estate bookkeeping services will give you peace of mind.

2. Wrong employee classification

You will have a lot of people working for you when you are in the real estate industry. There will be employees working full time in administrative roles; there will be market analysts working part-time helping you make better investing decisions.

Each segment has its own specific tax structure and not adhering to it will lead to wrong calculations and paying excess taxes.

3. Not segregating bank accounts

Most real estate agents tend to have one bank account – personal and business clubbed together. So at the end of the year, during tax calculation when you have to account for your real estate activities there will be a problem of gigantic proportions untangling your business expenses from your personal expenses.

Have two separate accounts and entrust the responsibility of maintaining your trade account to real estate bookkeeping.

All these points in one direction – instead of making these mistakes as an investor and agent in the real estate industry, you’ll do well to entrust the responsibility to real estate accounting experts.

Do you wish to avoid any of these real estate bookkeeping mistakes from affecting your finances, reputation, or business growth? If yes, join hands with the accounting experts of MAC and free yourself against any bookkeeping headache. Contact us now!

What type of Virtual bookkeeping service

 

Virtual bookkeeping services can be a great option for small businesses who want to save money on overhead or don't have the resources to hire an in-house accountant. Over time, these types of services have grown more and more popular due to their convenience and low cost. But how do you know which virtual bookkeeper is right for your business?

With so many options out there, it can be tough to find the best one that will suit all your needs. This will go over some tips on what type of Virtual Bookkeeping Service Providers are most appropriate for your company's specific needs.

Virtual bookkeeping service Included with:

• General Ledger Accounting

• Accounts Receivable Management

• Accounts Payable Processing

• Fixed Asset Account

• Bank & Credit Card Reconciliations

• Financial Reporting etc.

What can you expect from a virtual bookkeeping service?

Virtual bookkeeping service that brings the convenience of working with an accounting professional without ever having to leave your desk. What can you expect from virtual bookkeeping?

Let's take a look at some of the benefits:

-Online, anytime access to your financial records

-Free consultation on organizational and management systems

-Accounting expertise for any size business, no matter where in the world they are located.

We are a virtual bookkeeping service that provides you with peace of mind. You can expect to have your books in order, accurate financial statements and tax files ready when they're due, and reliable data for decision making. Our service is affordable, easy to use, and we'll always be available when you need us!

Contact us here for Best Virtual Bookkeeping Services on affordable pricing and solution.

How do I do Bookkeeping in QuickBooks

 

Bookkeeping tasks can be tedious and time consuming. Fortunately, there's a way to this process with QuickBooks Online. In this blog, we will go over how you can use the software to generate financial statements as well as know what transactions are sitting in your account waiting for bookkeeping.

This is going to provide you with tips on how you can do your own bookkeeping using the accounting software QuickBooks Online. You'll learn about features that help make doing your books much easier and quicker than before - like invoicing and bills reminders! We also have some handy hints on making sure all of your information is backed up properly so you never lose anything important again! Quickbooks Bookkeeping helps you in manage all your financial tasks.

What’s include in Our Bookkeeping in Quickbooks?

QuickBooks Setup

QuickBooks Setup is a task that can be time-consuming and tedious. If you're not someone who's set up QuickBooks before, then you can professional firm who help you get started with the process. We'll take you through how to QuickBooks from Intuit, what your company file should look like before getting down to business, and finally we'll go over setting up your payroll taxes for the first time.

QuickBooks Cleanup

The best way to keep your QuickBooks data organized and up-to-date is with a cleanup. A recent survey found that 40% of small businesses don't conduct regular data cleanups in their accounting software, which leads to inaccuracies, mistakes, and lost productivity.

QuickBooks Bookkeeping

If you are already working on QuickBooks, we can help you in continuing the and will also recommend any improvements in the process.

We provide the following bookkeeping services:

• General Ledger Accounting

• Accounts Receivable Management

• Accounts Payable Processing

• Fixed Asset Account

• Bank & Credit Card Reconciliations

• Financial Reporting etc.

QuickBooks Migration

QuickBooks is a powerful software for small to medium size businesses. As your business grows, it becomes more and more important to have an in-depth understanding of the intricacies of QuickBooks.

Contact us here for Bookkeeping on QuickBooks.