How Much Should Bookkeeping for a Small Business Cost
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Fort Worth Bookkeeping Service: A Key Element in Your Company’s Success Story
February 10, 2025
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45% of SMEs shut down their operations within the first five years of activity. And there are many reasons for this. Sometimes, the ongoing customer demands are too much to handle, or the market shifts in unprecedented directions, which impacts the overall profitability of commercialized services. Other times, the problem might have to do with internal monetary resources and the capacity of employees to adapt their skills to new niche sub-domains. But, in a surprising number of cases, business failure is intertwined with the capacity of companies to adequately handle their internal financial recordkeeping procedures.
Do you operate in a growing market, and are you facing difficulties in keeping up with developments happening in the industry? Have you been forced to invest heavily in the services and products you commercialize, and this has had a profound impact on your quarterly profitability forecasts? If that’s so, the last thing you need is to make a mistake with your internal bookkeeping procedures and attract the unwanted attention of the fiscal authorities. Our Fort Worth Bookkeeping service can, therefore, be a crucial element for your company’s financial stability and help your employees concentrate on other internal tasks with a direct effect on your venture’s development.
Contents:
What Services Will We Provide?
For one thing, our team will keep track of your ongoing payments, expenses, or recurring financial obligations and catalog them based on their relevancy for your down-the-road tax statements. Our team is comprised of professionals with experience in the bookkeeping industry, and we benefit from the necessary skills to maintain a general ledger of your past and current financial transactions and survey your previously recorded data. Together with your employees, we will manage your account payables and receivables, reconcile your recorded financial transactions with the statements of the banks you’re collaborating with, and prepare the necessary documentation for surprise IRS audits.
We are not CPAs, and we do not claim to possess the same level of expertise as the accounts you collaborate with. That said, we can offer you personalized services that will positively impact the work tasks of your employees, reduce their daily grind, and streamline a significant percentage of the internal operations necessary in financial recordkeeping procedures. We will prepare trimestral, monthly, or weekly financial reports that your CPA can later analyze, assist your firm’s senior management in calculating the company’s economic forecasts, help your accountants prepare the paperwork required for tax fillings, and not least, set up your QuickBooks account and provide professional training to your employees.
How Are We Different from CPAs?
Well, to begin with, our scope of responsibilities is different, and so are the operations that we will perform on a daily basis. The premium Fort Worth bookkeeping service provided by our company will primarily be used to record your ongoing financial transactions and prepare the documentation necessary for the tasks handled by your CPA and payroll manager. Sure, we can assist your team in numerous ways, and we have no problem acting as a liaison between your senior management and the banks you’re collaborating with, reconciling transactions, setting up your QuickBooks account, or managing your account payables and receivables. However, we cannot sign regulatory documents or develop your company’s wide-scale financial framework.
In Texas, certified public accountants must complete a minimum of 120 semester hours in a course certified by the Texas State Board of Public Accountancy, finish at least 21 hours of an upper-level accounting course, participate in 24 semester hours accounting course approved by the TSBPA, and also complete an upper-business course, that includes at least two semester hours of accounting or business communications. Plus, to become CPAs, applicants must pass all four sections of the Uniform CPA examination as well as the AICPA Ethics Exam, work for at least one year under the supervision of a licensed, certified public accountant, and take an oath of office.
Get In Touch With Proledge
You can contact us anytime if you have questions or encounter a problem with your bookkeeping program.
Are the Tasks We Perform Different?
Yes, very much so. While the general work tasks of bookkeepers and CPAs can overlap sometimes, our company will primarily handle the tedious financial recordkeeping procedures necessary to avoid issues with the IRS, while the CPA will deal with complex financial matters that require more expertise. Your CPA doesn’t have time to handle mundane tasks such as credit card reconciliations or generate simple financial reports or balance sheets. So, to reduce your dependence on their expertise and keep your costs down, we will be the ones who handle these operations.
However, for more complex tasks, such as performing complete audits of internal financial operations, preparing tax returns, and representing your company before the Internal Revenue Service, you will need to utilize the expertise of your CPA. That said, we are always open to assisting them, and our professional Fort Worth bookkeeping service can be used to prepare the documentation required for their ongoing tasks. If your CPA demands it, our team can generate simple financial reports relating to your general ledger, collect the necessary data for down-the-road fiscal statement audits, and help streamline your internal recordkeeping operations by identifying irregularities in your financial data that may require the expertise of a senior accountant.
A Necessary Aid for Your Venture’s Internal Operations
Bookkeeping is a crucial part of predictable business development. However, it is also fickle, complex, and prone to mistakes. Are you looking to mitigate the risks associated with your commercial activities, reduce the workload of your staff, and positively influence the reputation you garnered amongst industry veterans? If so, like most Texas-based companies, you will probably benefit from the high-quality Fort Worth bookkeeping service provided by our agency.
Sure, we do not possess the academic training of CPAs. Nevertheless, we can work together with them to improve your firm’s financial recordkeeping operations and digitalize your previously recorded transactional data. Our firm specializes in cloud-based bookkeeping operations, we have what it takes to deliver ongoing training to your teams, and we can integrate your QuickBooks account with the rest of the third-party addons compatible with this application. We are confident that our Fort Worth Bookkeeping Service can aid your organization, and we are always ready to answer your inquiries and suggestions.
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