June 2018 - AccountingX

5670 Wilshire Blvd. Suite 1800 Los Angeles, CA 90036

Business Bookkeeping Solutions: Why Payroll Matters For Your Business

Business Bookkeeping Solutions: Why Payroll Matters For Your Business

Payroll is the most important part of your weekly operations, and you need business bookkeeping solutions that take care of it for you.  Reconciling and completing payroll takes far too long, and you simply cannot set aside an afternoon to do it.  Get a professional to do it for you, and they will handle this process quickly.

 

 

1.  How Do They Handle Payments?

When you use business bookkeeping solutions you are handing over your records to the accountant or bookkeeper, and they begin looking at the hours worked, vacation days used, sick days used, insurance payments, tax payments, and retirement account payments.  Each of these tiny things must be handled by a professional who can account for them all, and they must make those payments to several different agencies.

 

 

2.  Paying Taxes

Paying taxes is the hardest part of your payroll because you have to send the exact amount out of each paycheck to the government.  The government will know if you have missed even a penny, and a bookkeeper can solve most of these problems for you.

 

 

3.  Insurance

Insurance payments are important because you have to keep the accounts active, and you might have more than one carrier to pay off every month.

 

 

4.  Retirement Accounts

The retirement accounts that you have for your employees must be paid into correctly, and all these things must be reflected on the paycheck.  A professional can literally reconcile every check to make sure it is correct.

 

 

5.  Sick And Vacation Leave

Sick leave and vacation leave must be accounted for on each paycheck, and the bookkeeper will note if any of those days have been used, pay them out, and change the overall total.

You simply do not have the time in the day to do this job properly.  Let a bookkeeper do it for you, and ask them to take over the most important part of every employee’s week.

 

For more information on how you can have professional business bookkeeping solutions do your payroll for you contact us today!

The difference between an in-house Accountant and a Virtual Accountant

The difference between an in-house Accountant and a Virtual Accountant

Some business owners prefer in-house accountant to virtual accountant. They believe virtual accounting weighs too much than an in-house accountant. However, the truth is that virtual accountant has significant benefits to your business regarding expenses. Having virtual accounting services will save you a lot. You do not have to look for office space for the accountant, no recruitment, and retraining fee among other expenses you have to encounter if you pick in-house accountant. Here is a look at some of the benefits of a virtual accountant.

 

Peace of mind

Fraud is a concern to every business owner, and one cannot be at peace if s/he is not assured of safety. Therefore, using a virtual accounting you are assured that your investment is well protected from fraud since the virtual accountant firm ensures you are under fiduciary insurance.
Convenience and efficiency
In virtual accounting, there is no use of papers since recording and documentation is done online; therefore, virtual accounting promotes a clean working environment. Also, it allows the business owner to concentrate on the business operations, hence, increase productivity.

 

 

Cost-effective

As an entrepreneur when hiring an accountant and you go for in-house accountant be ready with an office for the employee, include the employee on health insurance list, payroll taxes just to mention a few of the extra expenses you have to incur in place of an in-house accountant. Use of virtual accounting services can eliminate all these expenses; hence saves on costs.

 

Quality

You may know a lot about your venture, but you may not have enough knowledge of accounting. Hiring a qualified and certified accountant can be hectic; therefore, getting virtual accounting service will save you the trouble. With virtual accountant, you will get quality and clean services. You will not have to worry about inefficiencies and that fat check you have to write for in-house finance personnel.
The above are just some of the advantages of having virtual accounting services in your firm. Even without learning more about a virtual accountant, you can tell that your business will benefit from the service. Decrease your business expenses with a virtual accountant.

 

For more information on how you can benefit from a virtual accountant schedule your free 15-minute consultation today!

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