BookKeeping Express Franchise Unveils Major Las Vegas Expansion Plan

Nation's Only Franchise Focused Solely on Certified Bookkeeping Services Continues Strategic Expansion into New U.S. Markets

August 31, 2010 // Franchising.com // MCLEAN, Va. – BookKeeping Express, the first U.S. franchise focused solely on certified bookkeeping services, has announced plans to expand across the Las Vegas market through local franchise ownership.

"The small business community is growing in Las Vegas and around the country, and BookKeeping Express is expanding with it, providing qualified franchise investors with a niche franchise option that caters to this growing segment," said Greg Jones, CEO of BookKeeping Express. "We are looking to grow with franchisees who are experienced professionals and sincere about their desire to fill a void in their communities with our distinctive accounting services."

With more than 40,000 small businesses in the Las Vegas area, BookKeeping Express is looking to fulfill the void in the small to mid-size business (SMB) community for companies that are not equipped or do not wish to handle accounting responsibilities. BookKeeping Express offers accounting services such as setting up charts of accounts and general ledgers, monthly data entry, processing and managing accounts payable and accounts receivable, producing monthly reports and tax reporting. Plus, BookKeeping Express utilizes a Custom Flex Pricing Model that is based on the clients' needs instead of a one fits all, hourly billing approach.

As part of the BookKeeping Express franchise model, local BKE office owners have the support of the BookKeeping Express Service Center to take care of any outsourced bookkeeping needs so they can focus their attention on their business and client consultation, while having the ability to grow their business without hiring additional employees. The Service Center also serves as a new sales channel for BookKeeping Express franchise offices. Local BKE office owners can sell the service in their communities to CPA firms and independent bookkeepers.

In addition, all BKE franchise offices will offer the BKE Connect system, which allows businesses access to all bookkeeping files remotely through an outside server, as well as a dashboard that clearly and visually 'sums' up the business' operations for thorough analysis. Plus, small to mid-sized business owners can synchronize their QuickBooks and enjoy convenient, anytime access to their financial documents through BKE EDocs, a new electronic filing system designed to provide secure, online storage of financial documents.

"Highly qualified franchise investors want to join a system which supports our efforts in all facets of the business," said David DiPietro, the owner of BookKeeping Express in Mesa, Ariz., which opened in early 2010. "BookKeeping Express goes to great lengths to train and provide mentorship."

Since launching its franchising program in 2008, BookKeeping Express has signed development agreements and opened offices with entrepreneurs in 12 states and across more than 129 territories. Currently, there are more than 20 BookKeeping Express franchise offices open and two corporate locations, one in McLean, Va., and another in Baltimore, Md. The company's aggressive U.S. franchise development plans call for more than 400 new territories.

With a collection of franchisees that come from diverse backgrounds, including corporate executives, CPAs, banking executives, and entrepreneurship, BookKeeping Express' owners share a common goal to provide accounting relief to business owners so they can focus on growing their business.

"Getting into franchising is a viable option for those leaving or forced out of the corporate world," said Jones, himself a serial entrepreneur with several business successes under his belt in the telecommunications and restaurant industries. "Most of the franchise investors we meet with are seeking to fulfill their entrepreneurial spirit but don't want to do it alone."

BookKeeping Express is an affordable franchise opportunity tailored for today's transitioning professional. Two options available to BookKeeping Express investors include Master or Area Development territories that can be operated out of home-based or commercial space locations; per territory start-up fees run under $50,000.
About BookKeeping Express

BookKeeping Express, a national company focused on providing professional bookkeeping practices to small businesses, was founded in 1984 in California and grew to over 150 locations through licensing agreements. In 2007, Greg Jones, along with Bob Stocker and Merritt Green, purchased the company and launched the new business model in McLean, Virginia in January of 2008.

Source: http://www.franchising.com

Bookkeeping: Taking Off Short Index Exposure

Yesterday just under S&P 1040 I added what I consider modest short exposure. I shorted about a 4.5% exposure in TNA ETF (3x Bullish Small Cap) ... in the real world I'd go long TZA for simplicity but to keep my record keeping easier between long v short, I do 'short TNA' for model fund purposes. I sold about a third of that exposure this morning for a 4%ish gain and I am going to sell the rest here for about a 12% gain.

Yesterday, I bought 2 series of puts, 2.5% allocation into each: SPY 103 puts and SPY 102 puts. Total 5% allocation. Both are up around 60% so I am going to sell them both and take my quick and dirty gains. They did an excellent job hedging off any long losses and for 3-4 hours of work, I'll take 60% anytime. I'm posting a screen shot only so when someone asked "how did you make XX% with 80% cash!?" I can refer them to this post.

Could there by more downside? Certainly. I just believe this rubber band to be very stretched at this point and risk is now as large for bears as bulls. When I feel some comfort a real bounce may be coming, I'll do the exact opposite of these 2 trades.

Any upside target for now would be to S&P 1040.

Source: http://www.ibtimes.com/

The Advantages of Outsourcing Your Bookkeeping Services

Bookkeeping is an essential part for every business nowadays for the reason that if you want to keeping your all the business financial transaction records so bookkeeping is assist to keep all the financial transaction records for your small, mid and large business. The way that outsourcing your bookkeeping services is able to assist you improve your business is the expertise, knowledge, and experiences that using an outside consultant brings to the customer.

Bookkeeping can be complex at times, and it is significant that whoever is doing your books has an wide-ranging background in accounting, as well as more than just a general understanding of the most recent accounting systems. When you work with a qualified accountant, you are ensuring that you have a knowledgeable professional on your side that will use all of their proficiency to your businesses' advantage. This guarantees that your bookkeeping is done promptly and most importantly, accurately.

There are several ways that using an outsourcing bookkeeping consultant can advantage you and your company. Just a few of these profits are:

Keeping you updated on the entire financial feature of your business. No longer will you have to keep track of several dates and deadlines or worry about spotting an error in your book. They will keep you up to date with everything and stay aware about your business' books so that you don't have to.

Outsourcing bookkeeping consultants save you time by eliminating the need to have a bookkeeper on your staff to handle. You only see them when they are taking care of your books, which frees up time for you to do what you do best, which is running your business. By outsourcing your bookkeeping, you improve your bottom line by eliminating the need to pay a consistent salary and benefits to a staff bookkeeper. They should work with you to create a bookkeeping schedule that is right for your company.

As you can see, there are many advantages to consider outsourcing your bookkeeping services requirements with a well-qualified bookkeeping company. In fact, many customers say that outsourcing is one of the best business decisions that they have made and has helped them greatly. If you want to reduce the hassles of doing your own bookkeeping, consider outsourcing with a trustworthy bookkeeping company today.

In this article, we will discuss the different ways that outsourcing your bookkeeping services can assist you and your company perform better, cut costs, and improve your bottom line.

Source: http://www.articlerich.com/

Financial Services – Get 60% off on your Financial Accounting Projects

Nowadays financial services are a crucial for every business. Outsourcing Bookkeeping Service is a leading financial services provider firm to all small, midsized and also large business at reasonable costs. Taking benefits of IT-friendly atmosphere with accessibility of especially qualified professionals and technology Outsourcing Bookkeeping Service pass on best results of these equally beneficial factors to our well-regarded customers.

We have highly qualified bookkeeper and accountants professionals with the mandatory chartered accounting certifications to cover the whole range of bookkeeping accounting services ranging from high volume of financial transaction processing to high value financial accounting, financial analysis and reporting.

Our financial analysts have huge experience to distribute financial ratio analysis and financial statement analysis that ranging from small business to large companies. Our virtual financial assistants have understanding to work with simple financial ratio analysis projects to multifaceted financial ratio analysis projects.

Our Financial Services Include:

• Financial Analysis
• Ratio Analysis
• Budgeting Solutions
• Cash Flow Management
• Analysis of Financial Statements
• Analysis of Cash Flow Statement
• Preparation of Financial Statement
• Preparation of Cash Flow Statement
• Preparation of Management Information Reports
• Preparation of Income Statement & Balance Sheet
• Generating Customized Reports as per requirements
• Preparing Monthly, Quarterly & Annual Management Reports

We have a professional and experienced work-force to provide you the best financial services to reduce the burden of this tedious job and provide you the potential reimburse at the lowest rates. Also we have the expert proficiency and experience in handling almost all the trendy and generally used bookkeeping and financial accounting software such as QuickBooks, Peachtree, Sage Line 50, Quicken, MYOB, IRIS, LaCerte and Pro Tax.

Save up to 60% on your financial accounting projects.

To get maximum benefits of outsourcing online bookkeeping services and online financial services, please contact us on http://www.outsourcingbookkeepingservice.com/financial-services.php or send us any financial services requirements on info@outsourcingbookkeepingservice.com

Source: http://www.release-news.com

Small Business Bookkeeping Services – Save 60% Bookkeeping Cost

Outsourcing Bookkeeping Services provides professional, affordable and timely bookkeeping services to medium, large and small business bookkeeping organizations. We believe in high standard of quality and reliability. Our goal is to offer unique bookkeeping accounting services at competitive rates. Save up to 60% on your bookkeeping cost by outsourcing your bookkeeping and accounting requirements to us.

Now a day it is very important to complete bookkeeping and accounting task. Where ever you are located at you can outsource your work to our accounting bookkeeping firm. We are handlingsmall business bookkeeping services which facilitate smooth and successful functioning of business.

Our Small Business Bookkeeping Accounting Services:
• Accounting Reconciliation
• General Ledger Maintenance
• Inventory Reconciliation
• Payroll Processing
• Cash Flow Management
• Payroll Administration
• Budgeting
• Credit Card and Bank Reconciliation
• Taxation Services
• VAT Services

We have professionally trained and skilled bookkeepers and they can fulfill your any requirements related to bookkeeping and accounting services with the latest technologies and bookkeeping software. We work with customized applications and web based bookkeeping software such as quickbooks, iris, myob etc depending on the financial data given to us by clients.

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Outsourcing Bookkeeping Services

When it comes to bookkeeping service, it indulges a lot of overhead in managing the accounting data and calculating the same. It could be simply managed, if the bookkeeping service is outsourced to other accounting firms that can efficiently manage the whole. Organizations can now concentrate on core business functions rather than wasting time in paying focus on bookkeeping services.

Outsourcing the bookkeeping services will eliminate the load of transaction maintenance from the base firm. It will also help the company to save the money as, firms like Aditech Accounting Services is offering the service at a rate lower than the rate that the companies used to spent when they used to manage the whole by their own.

Aditech Accounting Services is a pioneer in providing different accounting services. It possesses appreciative skill, competency, and expertise to provide a variety of accounting related services.

Outsourcing bookkeeping services through other firms can now benefit the clients with the budget management; bank reconciliation terms, income tax filing and can also very well provide the idea of whether the business is making money, evaluating financial consequences, the various financial expenditures which is tracked on time etc.

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Small Business Bookkeeping - Bookkeeping Services - Online Bookkeeping

For restaurant owners, profit margins are very thin and even a few mistakes in books of accounts can have a direct impact on their profitability. Analytix Solutions, with its customized bookkeeping services now caters to the accounting and bookkeeping requirements of restaurants specifically. With the help of expert professionals for restaurant bookkeeping services, Analytix eliminates any possibility of an error. As an expert back office service provider of bookkeeping services, Analytix Solutions is known for its error-free, qualitative work and has catered to the small business bookkeeping requirements of many restaurants till date.

Providing an affordable alternative to hiring in-house bookkeeping staff, Analytix's online bookkeeping services ensure that restaurant businesses save up on resources which can then be utilized in the business. Small business bookkeeping packages from Analytix can save a restaurant owner up to 40% costs compared to hiring in-house resources. With only expert bookkeeping professionals working on all projects, Analytix clients can rest assured that their books of accounts are being taken care of by the best in the industry.

Existing bookkeeping services clients of Analytix trust the impeccable service of the company and it hence boasts of a 95% client retention rate since its inception. Analytix's online bookkeeping services are also being recommended to others by its existing clients, which is again, a proof of its qualitative services. The company is owned by an IT expert and a CPA, both of whom have a combined experience of more than 40 years in the industry. Analytix has established itself as one of the most prominent service providers of small business bookkeeping in the state of Massachusetts.

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Bookkeeping Accounting Services – Save up to 60% on Cost!!

Hitech Bookkeeping Services offer accurate outsource accounting and bookkeeping services. Save up to 60% on your cost by outsourcing your bookkeeping and accounting work to us.

Hi-Tech Bookkeeping Services is one of the well-known bookkeeping and accounting services companies in bookkeeping and accounting fields. We offer you the flexibility to outsource
some individual function or to outsource the entire internal accounting and bookkeeping task. Save up to 60% on your cost by outsourcing your bookkeeping and accounting work to us.

Bookkeeping is very useful and beneficial to the any type of business whether it is small or large corporate house. We are handling small business bookkeeping services that facilitate the smooth and successful functioning of your business. Our highly trained bookkeepers and accountants are always ready to help you record and follow past procedures and help you to make a business plan.

We can help you by providing best quality bookkeeping & accounting services like:

• Bank Reconciliation
• Trial Balance sheet preparation
• Financial Statement preparation
• General Ledger Maintenance
• Account Receivable
• Account Payable
• Payroll processing

Whenever you are in need of personal financial statement, business financial statement, audited and consolidated financial statement preparation and analysis, we are here to help you. Hi-Tech Bookkeeping Services have a team of professional bookkeepers and accountants experienced with almost all the popular and widely used bookkeeping software.

Here are some benefits why bookkeeping with Hi-Tech Bookkeeping services:

• Outsourcing is cost effective
• Outsourcing reduces your year-end work and fees
• Exceptional customer experience and processes to global businesses
• Provide accurate and timely bookkeeping, accounting and financial services
• Help organizations to concentrate their core functions

You can outsource your bookkeeping services or small business accounting
requirements to us and focus on core business activities. We have experienced bookkeepers and accounting professionals with the requisite CAC (Chartered Accounting Certifications) to work closely with you.

Thus Hitech Bookkeeping services support bookkeeping accounting services to small, mid-sized and fast growing business and save 60% on bookkeeping and accounting services cost.

If you require more information about our bookkeeping & accounting services, log on to www.hitechbookkeepingservices.com or drop email at info@hitechbookkeepingservices.com

Article Source: Prlog.org

Bookkeeping: The Necessary Evil

Are you a small business owner looking to stay under budget by doing the bookkeeping yourself? Well my friend, have I got news for you…you are not alone! There are many other small business owners out there who are looking to save time and money too. But they have dug themselves into a hole by writing every check themselves and balancing each account without any assistance. Unfortunately, bookkeeping goes beyond entering a few numbers here and there which takes away from what you love to do – grow and sell your business. Enter VBP OutSourcing – the solution to your financial problems.

Time is money. This is a bookkeeper’s motto in life. Your time is too valuable to spend doing the financials when you have a business to run. You also don’t have the time to worry about whether there is enough money to hire new employees or if your expenses are too high to purchase new supplies for the office. All of these financial questions can overload your brain and take away from other more important tasks and responsibilities of running your business. This is where a professional bookkeeper comes into the business picture.

A bookkeeper is not just another face in the accounting crowd. They are a vital part of your team, tracking the financials of the company, and ultimately the reason for your business’s success. Bookkeepers are there to make sure that your company does not run into one of the many common mistakes business owners find themselves in. The following list is 7 reasons why your business, small or large, should hire a bookkeeper, rather than do the finances themselves.

1. Focus On Growing Your Business. Your bookkeeper will spend time every week keeping your paperwork up to date, so you can relax and spend more time on your business. Bookkeepers know what they are doing and enjoy what they do. Bookkeepers maintain accurate records and financial books which provide insight into important business questions such as: “Is my company earning enough money?” By keeping up to date with your paperwork, you can avoid the risk of late payment fees, penalties, and fines.
2. Bookkeepers Understand. A bookkeeper understands the need for financial organization. They are able to reduce the chaos that are receipts, PO’s, invoices, etc. cluttering your desk to order by efficiently filing your papers away. A bookkeeper can also help by reducing your risk of paying twice for the same bill or by paying the wrong amount. Again, bookkeepers understand that your time and money are the most important assets to your business.
3. Audits…Need I Say More? Having your business financials in order and up to date is legally required by law. Specifically, if you are a government contractor, a business is required to be compliant with DCAA regulations. If an auditor would pop into the office today without notice – would you be sweating bullets or relaxing with your feet propped up on your desk? Bookkeepers keep your financial books current, so that you don’t have to worry when auditors drop in unannounced.
4. If You Don’t Know Where You’re Going, Any Road Will Take You There. Don’t let this be your company’s motto. Know where your business is going by understanding where it has been. Bookkeepers will paint a clear financial picture by telling you which road to follow when you come to that fork in the road. They will provide you with answers to your most important business questions such as “How does my spending compare to my sales?” so that you will make the smartest and most competent business decisions.
5. Patterns, Patterns, Patterns. Patterns are everywhere you look. They are frequently found in numbers – from prime numbers to ratios to your company’s sales patterns. Since your bookkeeper is constantly reviewing your account, they have the ability to see patterns or reoccurring financial events that you, as a business owner, may overlook. By providing you with up-to-date financial reports, you can track patterns (peaks and declines), so that you can be more prepared for your next business decision. Budgets, a result of knowing your company’s patterns are a must for businesses. If you know the patterns of your business, creating a budget will come smoother and much easier. Budgets can then forecast your fiscal flow which, in turn, will control your cash needs and manage your expenses. In simple terms, the solution to the success of your business is to hire a pattern seeking bookkeeper.
6. The Dreaded Date of April 15th. It makes no difference who you are - an individual, a family, a small business of 10, or a large company of 6,000 - you must file an income tax return every April. With a bookkeeper, your financial records will be consistent, but more importantly, correct. Therefore, when it comes time to prepare your taxes, you can rest assure that they will be done on time and in compliance.
   

7. Bottom Line: Increase Your Bottom Line. By hiring a bookkeeper to your team, you can be sure that you will have more time to focus on your business earnings. Instead of a salaried employee, you can pay for only the hours needed on your financials. In other situations, if your business is in need of a partnership to increase or sustain profitability, then having well-maintained and up-to-date books will, therefore, paint a prettier financial picture for your future colleagues. In the worst case scenario, if you have to sell your business, buyers will be able to see dedication and value in which you put into your business through well-kept financial books.

Bottom line – hire a bookkeeper!

Although bookkeeping is a necessary evil, it is still necessary! Therefore, instead of trying to take on the job of bookkeeping by yourself, look to a licensed bookkeeper to take care of your books so that you can rest assure knowing your financials are in order come your next audit!

Article Source: ABC Article Directory

Brooks Perry's background in media, business communications, and web development has given him a unique ability to provide expert writing, editorial, and public relations services for all types of projects, from informational brochures to integrated websites. His educational background includes a Mass Communications degree from the Towson University with a focus on advertising, public relations and marketing.

Bookkeeping Software Can Simplify the Bookkeeping Process

The advent of efficient bookkeeping software has revolutionized the way Bookkeeping Services is performed in organizations. With large volumes of accounts receivables, account payables, billing and Payroll Services to handle, organizations found it difficult to manage the different segments of bookkeeping. Competent bookkeeping software has enabled companies to work better and save on time and effort.

There is a wide range of bookkeeping software that bookkeepers can use today. The following is a list of the different bookkeeping software available and the benefits that each offer:

QuickBooks

Quickbooks Bookkeeping Software is one of the easiest to use financial software. It has an easy to use interface, simple navigation toolbars and a user-friendly graphic menu. The Quickbooks software is divided into various sections, such as the help section, customer section and vendor section. There is a help button on every option and users can go through FAQs in the quick help menu. The Quickbooks software gives users flexibility on a variety of tasks related to accounts receivable, accounts payable, payroll, inventory and banking. Other features include a general ledger and job costing tools.

Quicken

The advanced features of Quicken make it the software favorite software among accountants. In the latest version of Quicken enables users to see more of workspaces and reports at the same time. Financial data can also be viewed more easily. The tabs in Quicken enable users to easily access different functions at the same time. Summarized versions of critical information can be seen on the home page and activity center. With features such as, financial overview, cash flow center, investment centers, Quicken Billminder Gadget and Quicken account bar, Quicken is a good choice.

Peachtree

The latest version of Peachtree is packed with advanced options to enable bookkeepers to maintain accurate records efficiently. It has an easy-to-use interface, an informative business status page, input screens for (billing, payroll & invoicing), advanced reporting tools and high-end options. Bookkeepers can synchronize contact information with ACT and set up this software without any difficulty. All these advantages make the Peachtree accounting software a favorite among bookkeepers.

NetSuite

The NetSuite Accounting Software is a single, integrated suite that has advanced accounting, ERP, CRM and e-commerce abilities. With the NetSuite accounting software, bookkeepers can competently mange accounts receivables, accounts payables, general ledgers, billing and payroll amongst others. NetSuite has efficient tools for sales force automation, support management, marketing automation, global CRM, productivity management, e-commerce, partner relationship management, financial management and employee resource. With its flexibility, real-time decision making and seamless integration bookkeepers find this an easy-to-use software.

Business Works

The business works accounting software is simple yet powerful accounting software. It is flexible, easy-to-use and has integrated modules. With business works, bookkeepers can provide extensive reports and even share data with other users. Business works enables bookkeepers to manage the entire operation flawlessly.

Advantages of using bookkeeping software

• Saves time and effort
• Saves on manpower
• Enables bookkeepers to work more efficiently
• Different segments of bookkeeping can be handled with ease
• Data can be shared easily
• Errors can be minimized
  

Use bookkeeping software and watch your bookkeepers work more efficiently.

Source: http://www.buzzle.com/

Bookkeeping Tips - Important Tips and Bookkeeping Advice

Five Tips for a Smoother, More Efficient Tax Time

1. Organize your processes. Lost productivity and mistakes will often come from misunderstanding authority and responsibility. A tax season will be smoother when everyone knows the proper work flow, what their jobs are, and exactly how much authority they have to make decisions. You can make all of these things clear by designing organized processes, bookkeeping procedures and systems that your team can follow.
2. Prioritize. When you begin to feel overwhelmed, get systemized. Prioritize a to-do list and work on one thing at a time. As you cross a task off, celebrate! Make sure your team is clear on the priorities too.
3. Remember why you're there to begin with. Business can be a very detail-oriented affair, and it's really easy to get caught up in the moment especially when your dealing with your daily bookkeeping tasks. If you ever feel like you're drowning in details, stop and take a deep breath. Now look at the big picture. Just think about what your business goals are and remind yourself that you can obtain them. This exercise can help you to get back in tune with what's really important to you and will help you put everything back in the right perspective.
4. Communicate Clearly. Without clear communication it will be hard to get through the tax season. Your CPA is going to have a lot of questions for you and you will need to be able to answer them appropriately. Make sure you are not overtired and have plenty of energy to get you through. Be appreciative of all of the work that your accountant is doing for you. Gratitude is one of the fastest ways to change your perspective for the positive.
5. Model Leadership. Emotions are contagious. So is stress. If you are in a bad mood, everyone around you will feel it and may not be far behind. But if you come in cheery and ready to tackle the task before you, you can influence everyone in a more positive manner. It's a lot more fun to be around cheerful people.
   

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Bookkeeping Software or Services?

Every business is required to keep bookkeeping records to produce at the end of the year (Calendar or Financial) a set of accounts to show the business expenses, sales income and the net profit for tax purposes. New businesses in particular, self employed businesses have a choice in how the financial accounts are prepared and produced. Many of these businesses for financial reasons tend to either keep a manual record of financial transactions or purchase an off the shelf software program from their local retailer and then on their own develop a charter of accounts and complete the data entry.

There are several advantages and disadvantages to whichever course of action a small business may take to produce the financial. But, at the end of the day, the condition of financial accounts and the financial control that are put in place will dictate how well or badly the business is performing compared to the success in the business environment. The underlying necessity is that if the business does not take a decision on its financial accounting then at the very least it must accumulate documents of prime significance such as sales invoices, purchase invoices and possibly bank records during the financial year and assemble these into some sort of order after the end of the financial year for tax purposes. Failing to keep financial records often results in a succession of administrative burdens and often also leads to financial penalties if taxation
deadlines are not met.

If the small business owner chooses not to go down the route of using bookkeeping software or outsourcing the financial function to a bookkeeper or accountant then manual financial records must be kept. Producing an income and expenditure account for the business using the prime financial documents of business is not rocket science and most businessmen capable of running and managing a business have the skills required to producing the bookkeeping records. The major disadvantage of a small business keeping manual records is that documents get lost which may result in profits and taxes being over declared, fines and penalties through inaccuracies and often when accounting is produced in this way it is done at the end of the financial year purely for tax purposes rather than as an essential tool of the business and that reduces financial control within the business during the financial year to a minimum and often zero.

If a manual bookkeeping system is adopted then disciplined recording of the financial information on a regular basis should be enforced and regarded as an essential function and not an administrative burden. The main purpose of regular accounts being to both see and understand the financial position of the business and take positive action as required at the earliest opportunity to achieve a satisfactory financial result.

Other alternatives include utilizing bookkeeping software which is effectively often a manual system in itself but within definite parameters to produce the essential information. Using bookkeeping software has many advantages. First of all any small business that has purchased bookkeeping software is more likely to keep regular up to date accounts than one that has not. And secondly the bookkeeping software is likely to provide a fixed set of disciplines and produce the type of records a small business requires for both the preparation of regular financial statements and the end of year tax returns. Another major advantage of bookkeeping software is that records tend to be less likely to be lost or mislaid; the packages can be backed up as required but essential financial performance can be improved by greater financial control. All businesses work towards producing a satisfactory bottom line and only by producing regular financial statements can the business obtain the earliest information to achieve that satisfactory performance.

Bookkeeping software comes in many different formats from simple spreadsheets to more complex data based accounting software. For a small business the bookkeeping software of choice is often a simple system requiring limited accounting knowledge but must also be a package that produces the desired end result. The worst bookkeeping software is a complex program requiring prior accounting knowledge that the small business either does not fully understand, cannot be bothered or does not have the time to learn and having tried the system then abandons it. Such a process just causes frustration and time to start again with a different solution. Bookkeeping software in effect automates the manual keeping of financial records. To get the most benefit from a bookkeeping software package each small business should prepare regular financial records to enhance and improve financial control, take financial decisions and achieve the desired bottom line result.

Bookkeeping can be outsourced to an accountant or bookkeeper and there advantages in doing so. The financial records are generally maintained in good order and regular financial reports produced. If the small business has a volume of paperwork that becomes a burden to process and keep on top of then a bookkeeper is the best solution. Employing a bookkeeper becomes essential when the paperwork burden reaches a stage when it distracts the small business owner from getting on with the main task of operating the business. A bookkeeper has to be paid and that cost should be viewed as the cost not of producing the financial records but as the amount to be paid to release the time of the small business owner and also to produce the financial statements on which action can be taken to improve profitability.

In conclusion each small business should evaluate their options and time commitment. A manual bookkeeping system may suffice but the business may be better served using bookkeeping software & services to increase financial control and performance.

15 years of Fortune 1000 Consulting in IT and Business Process Outsourcing.

Source: http://www.articlesbase.com/

Bookkeepers and Accountants Choose Double Entry Bookkeeping for Accuracy

Double entry bookkeeping stretches back centuries perhaps even as early as the 12th century and is now accepted worldwide as the accounting standard to be employed by all companies in recording the financial accounting records. The first written explanation of the accounting system was reportedly by a Venetian mathematician Luca Pacioli towards the end of the 15th century.

The accounting industry has grown somewhat since then and today contains many technical words known but largely ignored by non accountants. The understanding and desire to understand accounting terms is further confused by the banking industry while adopting double entry bookkeeping as standard use what appears to be diametrically opposed terms in the presentation of information to their customers.

In accounting terms an asset such as money in the bank is a debit balance while bank customers are told if they have money in the bank it is a credit balance. This arises because what the bank is really saying is when a customer has money in the bank that the balance represents a creditor to the bank as it owes the customer money and is a creditor in the banks books. Hence the bank describes the balance as a credit balance.

The simplest way to understand double entry bookkeeping is the understanding that every financial transaction has a double effect. One effect is to change the profit and loss of the business with sales income increasing the financial profit and purchases reducing the financial profit. While the double entry is that every profit and loss transactions also has a balance sheet effect in either increasing assets or increasing liabilities.

In more complex accounting areas such as journal entries or bank transactions both sides of a transaction may have no impact on the profit and loss account as both sides of the double entry effect the value of balances in the balance sheet. For example when a creditor is paid the bank balance reduces and the amount owed by the business reduces by the same amount.

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Outsourcing Your Bookkeeping - Advantage

The importance of doing proper bookkeeping in any type of business is not in question. There are many benefits to be accrued from doing so but the main ones stand out - find out what you and your business stand to gain.

The foremost advantage about outsourcing bookkeeping services is that your business gets to save money. The very notion that money can be saved may spark incidences where poor decisions can be made; what is important is to ensure that you always seek persons who can offer quality, this is the only way in which you will get your money’s worth. Another very vital advantage that is worth considering is the fact that you won’t be required to pay for the myriad of costs that come with hiring a full-time bookkeeper including the employers payroll tax expense or the workman’s compensation.

Before you make the final decision to hire a particular bookkeeper on an outsourced basis, it is prudent that you pay attention to the figure that the prospective bookkeeper will quote when stating their fees. This is one test of ensuring that the person you are hiring really understands the intricacy of the work at hand. The well informed bookkeeper will charge a fee in the range of at least three times what the hired bookkeeper is paid. The reason for this is that they have to fix in costs that will cover or compensate for lost fees that they would otherwise be paid if they were in full-time employment.

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Small business tips: the basics of bookkeeping

Good bookkeeping practices are essential to keeping your business running smoothly.

Regardless of the size of your company, good bookkeeping practices are essential to keeping your business running smoothly. Accurately kept books do more than make it easy to file your annual tax returns. Banks may require you to submit a profit and loss statement or balance sheet
so they can determine your credit-worthiness. A quick review of your books can show where you need to spend more or less money; who gives you the most business and who takes the longest to pay you; how much you're paying out in commissions compared to how much you're selling.

Here are some general terms that are helpful to know.

ASSETS are things that you own or are owed to you: bank accounts, inventory, loans made to other companies or individuals, company cars, etc.

LIABILITIES are things that you owe: loans, accounts payable, payroll taxes, etc.

EQUITY is net income (sales less expenses), capital stock, and owners/officers distributions.

EXPENSES are things you pay for: business meals, gas for company cars, professional services
, postage, etc.

REVENUE is money you earn from the sale of services or product, or from interest earned on a bank account, investment, or a lease or loan of your equipment or property.

COST OF SALES is any expense directly related to earning revenue: product purchases, freight or delivery, sales tax expense, etc.

One of the most valuable resources you can have for a small business is a public accountant. Even if you only take your books in at tax time, having someone to give you specific advice and answer your bookkeeping questions is important. Find an accountant whom you like and trust. If you're having difficulty finding one on your own, talk to other people with similar businesses for recommendations.

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Bookkeeping Outsourcing: Leading the World to Higher Profits

Bookkeeping, as we all know it is a very mundane task. What people think is that bookkeeping is the same as accounting but they are very different. Bookkeeping means recording of the transactions in various books. Daily transactions like a sale has a multiple transactions, first it going in the sales book and gets recorded as sales, then it gets deducted from the inventory that one has, third it should go into the cash account if its cash sales or should go into the debtors accounts if it is credit sales. All this makes the task not only tedious but also if one forgets on small detail like entering the numbers into a particular book the entire balance sheet would go for a spin. All this makes book keeping a very minute task and hence makes it mandatory for business houses to opt for bookkeeping outsourcing.

The reasons why business houses would opt for bookkeeping outsourcing are plenty. A few of them are explained as under.

First book keeping requires the staff to minutely record all entries and if they are lethargic or bored or absentminded then they could make a mistake of recording a wrong amount or recording the entry in the wrong book. This would turn out to be added work for the owner and create stress and tension. Hence the staff should be able to concentrate at all times. This does not happen as there are various distractions in the work place.

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Pros and Cons of Doing the Bookkeeping or Outsourcing to a Bookkeeping Service

Every small business is required to keep bookkeeping records to produce at the end of the financial year a set of accounts to show the sales income, business expenses and the net profit for tax purposes. Medium and larger businesses employ accounts clerks, bookkeepers and accountants to maintain the financial records and produce regular accounting information.

Small businesses and in particular self employed business have a choice in how the financial accounts are prepared and produced. A small business may employ the services of a bookkeeper to produce the accounts while another similar business may keep a manual record of financial transactions while a third option is to use a bookkeeping software system.

Small business has a choice as to how it produces its financial records. Some simply do nothing but the best option is to make a finite decision regarding the path to take. Financial accounts, financial control over the business activities and the knowledge of how well or badly the business is performing is crucial to success in the business environment.

The underlying necessity is that if the small business does not take a decision on its financial accounting then at the very least it must accumulate documents of prime significance such as sales invoices, purchase invoices and possibly bank records during the financial year and assemble these into some sort of order after the end of the financial year for tax purposes. Failing to keep financial records often results in a succession of administrative burdens and often also leads to financial penalties if taxation deadlines are not met.

If the small business owner chooses not to go down the route of using bookkeeping software or outsourcing the financial function to a bookkeeper or accountant then manual financial records must be kept. Producing an income and expenditure account for the business using the prime financial documents of business is not rocket science and most businessmen capable of running and managing a business have the skills required to producing the bookkeeping records.

The major disadvantage of a small business keeping manual records is that documents get lost which may result in profits and taxes being over declared, fines and penalties through inaccuracies and often when accounting is produced in this way it is done at the end of the financial year purely for tax purposes rather than as an essential tool of the business and that reduces financial control within the business during the financial year to a minimum and often zero.

If a manual bookkeeping system is adopted then disciplined recording of the financial information on a regular basis should be enforced and regarded as an essential function and not an administrative burden. An understanding of the detailed accounting records and the effect on the business allows effective management decisions to be taken earlier than if someone else performs the bookkeeping function.

Other alternatives include utilising bookkeeping software which is effectively often a manual system in itself but within definite parameters to produce the essential information. A bookkeeper might be employed whether a manual system is used or bookkeeping software adopted.

Using bookkeeping software has many advantages. First of all any small business that has purchased bookkeeping software is more likely to keep regular up to date accounts than one that has not. And secondly the bookkeeping software is likely to provide a fixed set of disciplines and produce the type of records a small business requires for both the preparation of regular financial statements and the end of year tax returns.

Another major advantage of bookkeeping software is that records tend to be less likely to be lost or mislaid; the packages can be backed up as required but essential financial performance can be improved by greater financial control. All businesses work towards producing a satisfactory bottom line and only by producing regular financial statements can the business obtain the earliest information to achieve that satisfactory performance.

Bookkeeping software comes in many different formats from simple spreadsheets to more complex data based accounting software. For a small business the bookkeeping software of choice is often a simple system requiring limited accounting knowledge but must also be a package that produces the desired end result.

The worst bookkeeping software is a complex program requiring prior accounting knowledge that the small business either does not fully understand, cannot be bothered or does not have the time to learn and having tried the system then abandons it. Better to avoid the wasted time and effort by choosing the appropriate accounting package at the outset.

Bookkeeping software in effect automates the manual keeping of financial records. The most important aspect of using a bookkeeping package be it a da6tabase accounting system or a simpler set of bookkeeping spreadsheets is the enhanced financial control and the effect that intimate accounting knowledge can have to influence the net profit.

Bookkeeping can be outsourced to an accountant or bookkeeper and there advantages in doing so. A quality outsourced finance function does produce accurate timely financial records. If the small business has a volume of paperwork that becomes a burden to process and keep on top of then a bookkeeper may be the best solution.

Employing a bookkeeper becomes essential when the paperwork burden reaches a stage when it distracts the small business owner from getting on with the main task of operating the business. A bookkeeper has to be paid and that cost should be viewed as the cost not of producing the financial records but as the amount to be paid to release the time of the small business owner and also to produce the financial statements on which action can be taken to improve profitability.

A major disadvantage in using a bookkeeper is that the small business owner may remove themselves from the detailed records. A small business manager who prepares the financial accounts tends to see every transaction several times both when the trnasaction is made, the paperwork received and also when entered in the financial accounts.

This second view of the accounts can be important, errors in management judgement can be noted, mistakes and bad practises become more apparent. Missed documents are much more likely to be noticed if the small business owner produces his own bookkeeping records than if the task is carried out by a third party such as an accountant or bookkeeper. Nobody knows the business as well as the small business owner knows his own business.

The conclusion and decision each small business should take is doing something. A manual bookkeeping system may suffice but the business may be better served using bookkeeping software to increase financial control and performance. If the administrative burden of maintaining the paperwork detracts the small business from its main operations then an accountant or outsourced bookkeeping services is a logical solution.

Terry Cartwright a qualified accountant at DIY Accounting designs UK Accounting Software on excel spreadsheets providing complete Small Business Accounting Software solutions with single and double entry Bookkeeping Software for both limited companies and self employed business

Source : http://www.articlesbase.com/

Online Bookkeeping Courses - Why Study Bookkeeping Diploma?

Most small businesses don't require a certified public accountant for their day to day accounting operations, including payroll, benefits enrollment and bookkeeping. Whether you're interested in eventually earning an accounting degree at the bachelor s level, becoming a CPA or taking the path of least resistance toward a rewarding, career building educational tract in the field, an online bookkeeping course is an exceptional place to begin.

The benefits of an online bookkeeping course that leads to a certificate or diploma are many, including focused training, short term commitment and the ability to gain the skill sets necessary for finding employment as a bookkeeping professional. An online bookkeeping course can be completed in as little as 3 to 6 months and gives you the flexibility to fit your educational pursuits into your existing schedule.

Courses in most of the online bookkeeping tracts available through the fully accredited colleges and universities featured on 866MyMajor.com include basic bookkeeping, accounts payable, accounts receivable, ledger maintenance, methods of inventory accounting and much more. In a short time, you can gain the understanding necessary to embark on an entry level career with great earning potential and the opportunity for advancement.

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Bookkeeping Made Simple

Don't get bogged down with bookkeeping. Keep it simple -- and accurate -- by establishing a procedure and following that procedure each time you send out a bill or collect a payment.

Follow these steps to streamline and increase the accuracy of your bookkeeping system :

1. Design an invoice and keep the template handy. Make spaces to fill in amounts due from clients, job descriptions, hourly rates, outstanding balances and other information. When you send an invoice to a customer, keep at least one hardcopy for your records.
2. Set up a special checking or money market account that will be used for business purposes only. When checks come in as payment, deposit them into this account. This will allow you to simply and accurately tally your income -- quarterly and at year-end. Note: When depositing checks, record in your checkbook the customer's name and check number. This will help you if discrepancies arise in the 1099 (Miscellaneous Income) statements that customers send out during tax time.
   
   Use this account whenever you make a business purchase. Avoid writing personal checks from the account. Make sure that you make a note describing the business purchase. If you do make a non-business purchase from the account, make note of it so you won't be confused at tax time.
   
   
3. If you take credit card payments, set up a special checking or money market account for this activity as well. Designate that all credit card payments spill into this account and that your monthly fees automatically be deducted from this account.
   
   
4. If you take out business loans or establish business lines of credit, set up a special account into which the bank can deposit these funds. It's generally best not to use these accounts for normal business purposes. Your records will be clearer if you transfer funds from these accounts into your business checking account (as described in Point 2 above). This will allow you to more accurately keep records of business purchases. If, however, you will be using the borrowed funds to make only one or two purchases (such as buying a large piece of equipment), you can write the check from the account.
   
   Special note: When you transfer funds from this account into your regular business checking account, be sure to make a note in your business account check ledger that the deposit is NOT BUSINESS INCOME. Note the source of the deposit, the check number and the date of the deposit. This will keep your records accurate for tax purposes.
   
   
5. Because you will be using your business checking account for business purposes only, you will need to have at least one additional checking account for personal use. When you require funds for personal expenditures, write a check from your business account. Record this check in your business checkbook as "To personal account" so you won't mistake it for a business purchase. You should write the check out to yourself. This will further delineate the check as a transfer of funds from your business to your personal account.
   
   If your spouse also has a checking account, follow the same procedure.
   
   
6. Keep a savings account or a money market account that is used exclusively for collecting and storing money for your taxes (i.e., for your quarterly estimated payments). Checks for this account should be written from your business checking account, written with your name on the check and designated in your business checking account as "To IRS account" or "To tax account." Ideally, you should determine the appropriate percentage to take out of each deposit into your business checking account, and write a check for that amount to your IRS account.
   
   
7. To back up your records and to ensure greatest accuracy, keep a separate log that details each business check you write. Items to include in the log: name of company or individual to which the check is written, details of the transaction or purchase, check amount, check number, check date and any other items of information that will help jog your memory of the exact purpose of the check.
   
   
8. Also, you can keep a log detailing information contained in your invoices. Items to include: customer name, date of invoice, terms of invoice, details of work performed, etc. When invoices are paid, make a note on the invoice itself and in your invoice log.
   

Following these simple guidelines will streamline and systematize bookkeeping for your business. They will help clarify your records, both for keeping track of individual payments and for tax purposes. When your business requires a more complicated bookkeeping system, try to keep the variations simple and repeatable. Being systematic is the key to headache-free bookkeeping.

Source : http://www.nfib.com/

Outsourcing Bookkeeping Frees Up Time to Grow Your Business

The onslaught of avant-garde technology today has found many scrambling to internet based services. From medical help to mortgage refinance and now outsourcing of bookkeeping and financial services are available online. This way business finds it cost effective and very efficient.

A detailed representation of the business accounting functions is painstakingly done by the professional accountants of the outsourcing firm. Virtually what the client has to do is merely fax or scan his documents and submit and bookkeeping is made simple. The professional help automatically takes out most of the hard work out of bookkeeping.

Bookkeeping could be server based. If the client does require that his accounts books be maintained in his own computer, the outsourcing bookkeeping connects to the client’s computer through the internet. This is done with the use of remote desktop access services. Then in the morning the client will find his books updated and simplified in his computer. This means that the client gets financial statements, reports, checks, sales invoices, and others on his own computer ready to print. This he can conveniently do without having to log in to any website and be bothered by the hassles that go with it.

Bookkeeping, by its inherent nature, necessitates a lot of paper work. It seems like the work is almost always never done on time. Accounting data entry, payroll preparation, cash flow, bank and credit card reconciliation, trial balance, accounts payable management and other bookkeeping tasks which need updates every month can be reorganized and restructured in few very easy steps. Completion of the project is within the time frame given and the cost does not go over the budget.

Outsourcing bookkeeping has different processes options to update your books. There is a wide array of options available where you can choose according to your requirements as to what is best for working conditions. The client also gets to choose the process option that he finds most efficient and the compatibility of resources in his environment.

The processes the client could choose from for outsourcing bookkeeping are Remote Access Based, Hosted Software Based, Server Based and Online Options. These are some of the processes that would suit your necessities and your convenience.

Another option is for the client to send the documents either by having them scanned or through fax. The bookkeeper logs on using an online service overnight. With the help of the software, she starts to update your books, and when done logs out. While you can take a look at your books the next morning and everything is already done!

The degree of security and protection in place is the highest available today. Information is treated as confidential and sensitive. Privacy is considered of utmost importance. That is why the best of encrypted technology is employed to make sure that there is no infringement committed on your data. Only authorized bookkeepers and accountants have access to client’s documents and books.

Outsource your bookkeeping today; and focus on those functions of their businesses that really matters for its growth.

Source : http://www.streetdirectory.com/