Benefits Of Outsourcing Accounting & Payroll To A Bookkeeping Service

Small and large businesses alike are concerned today about making the process of running their companies as cost-effective as possible. However, when you try to limit the number of employees and handle everything in-house, it can be detrimental – and mistakes are often made, tax deadlines missed, etc.

In reality, hiring employees for every aspect of management can be more costly, considering salaries, benefits, and the space required to accommodate all of these employees. There are countless benefits of outsourcing your accounting and payroll processes to an Atlanta bookkeeping service, some of which we’ll outline below.

Cost effective services. When you outsource accounting and/or payroll tasks to a reputable bookkeeping service in Atlanta, a substantial amount of money can be saved on operational costs. Additionally, this savings can be channeled toward funding your core business processes.

Up-to-date technologies. Accounting and payroll processing technology changes on a frequent basis; how much does it cost to send your staff members to school or training to keep up with these changes? Companies that specialize in accounting and business services are always on top of changing technologies.

Reduction in processing time. The tasks of accounting and payroll processing are extremely time consuming; because of this, companies are often focused on managing these processes, and tend to lose sight of core competencies.

Outsourced reporting helps you stay up-to-date. When you rely on a trusted Atlanta accounting service to take over these time-consuming tasks, the company will handle reporting of these services as well, so that you can keep an eye on accounting and payroll status while focusing on other aspects of running your company.

Protect against fraud. When payroll processes are handled in-house, it can lead to fraudulent activities by employees. Outsourcing payroll will ensure that no fraudulent activity occurs, as most service providers have controls in place in regards to all transactions and quality.

These are just a few of the advantages of outsourcing your accounting and payroll processes to a reputable Atlanta bookkeeping company. At Sound Business Services, we provide affordable, quality solutions to companies in the greater Atlanta area including Alpharetta, Canton, Kennesaw and Marietta. Let us make the business of running your company easier and more cost-effective today!

How To Know When It's Time To Hire An Atlanta Bookkeeper

As a business owner, you can only wear so many hats – and there are only so many hours in a day. If you are a small business owner, you’re probably like many others who started up their own business – an entrepreneur, one of those do-it-yourselfers who try to do it all. As trusted Atlanta bookkeepers, we know that there comes a time when you simply cannot do it all, and do it well. This could ultimately result in stress, burn-out, and even the downfall of your business.

How do you know when it’s time to hire an Atlanta bookkeeping company?

Are you burning the candle at both ends? When you are trying to take care of payroll, accounts payable, accounts receivable, budgets, reporting, taxes and everything else, you’ll soon find that you just cannot keep up. The work seems never-ending (and it is), and you keep thinking you have to hire someone – but you’re too busy even for that. You may be coming into the office early, staying late, and spending far too little time with your family.

Are you implementing a new accounting system or trying out QuickBooks or some other software package for the first time? These things can be intimidating and take some time to learn. Yes, QuickBooks, as quick and efficient as it is, has a bit of a learning curve. Are you willing to learn a new skill, and do you have the time? If you don’t have the time to take a deep breath, let alone learn a new system or software, it’s time to take that step and hire a capable and competent bookkeeper in Atlanta.

Do you want to work ON your business, or IN your business? There is a difference. When you work in your business, you’re so involved in the day-to-day tasks and responsibilities that you hardly have time to work ON your business, that is developing ideas and strategies to help your business grow. Did you start your small business to have it remain stagnant, or to build it to new levels of success over time? Only you can answer these questions, which will tell you if it’s time for you to consider an Atlanta bookkeeper.

Atlanta Accounting - End-of-Year Tax Strategies For Small Businesses

As Atlanta accountants, we like to offer helpful tips to our readers regarding taxes. As 2012 is quickly winding down, we thought it would be a good idea to help you decide if there are things that can be done to reduce your tax liability for 2012, or even for next year. Considering 2012 was an election year, it’s impossible to know which tax legislations will become reality, and when. By knowing what is at stake, owners of small businesses can make sound decisions for their companies before December 31st, when the ball drops and it’s a new year.

In 2013 there are numerous taxes which are set to increase unless extensions are applied to current laws. Here are a few strategies which may be applicable for your small business.

Expenses

If your business operates on a cash basis, it may be beneficial to delay paying expenses until after the first of the year, since there may be a substantial difference in the tax rate between 2012 and 2013. For many small business owners, the deductions would be more beneficial in 2013 than in 2012. Consider delaying major expenses until after January 1st if your company operates on an accrual basis.

Income

Consider the possible implications if the tax rate increases do take effect as scheduled. As a business owner, it may behoove you to increase your profit payout or personal salary prior to December 31st, as income earned in 2012 may be taxed at a substantially lower rate, meaning quite a savings on personal tax.

Depreciation

Regarding business equipment and furnishings, there are two major tax changes set to take place affecting depreciation deductions. Currently, $139,000 can be claimed on depreciation of furniture or equipment purchased in 2012. If tax legislation is not changed in 2013, this amount will decrease to $25,000. Additionally, at the close of 2012 the bonus depreciation of up to 50% of purchase price on some new furniture and equipment which has been allowed in recent years will end. There are restrictions which apply to both of these deductions.

Ultimately, the depreciation changes which are scheduled mean that it may be to your advantage to purchase any equipment you know you will be buying prior to year’s end.

Need assistance with tax, payroll, budgeting, bank reconciliation or other aspects of accounting? At Sound Business Services, Inc., we have provided quality, affordable Atlanta bookkeeping services to businesses and organizations, small and large, since 2006. Contact us for all of your accounting needs!