Why Should A Small Business Use A Professional Accounting Firm?

Do you need a hand with the accounting side of your small business?

How is your business doing? Does your bookkeeping look like a foreign language? Can a small business save money by doing their accounting themselves? Or would a bookkeeper, bookkeeping software, or an accounting firm be the best fit for you? What are the differences with using a professional? Because you care about your business’ financial needs, this article can help you distinguish the difference between a bookkeeper and an accountant. This can help you determine if professional accounting help is the right decision for your business. A small start-up today could be a huge business tomorrow.

Financial Records

Every business needs a reliable bookkeeping system based on established accounting principles. However, the most important thing for small business owners to focus on is revenue coming in the door. With tax and accounting professionals at their service, business owners can focus on what they do best and leave the accounting worries to a professional, timely, and trustworthy accounting firm.

Having a trusted firm handle your accounting can make a business audit proof, and ready in case they have to go through an audit. With reports filed on time, a professional firm can help small businesses avoid penalties.

Bookkeeping

It is hard for small business owners to keep track of bookkeeping on top of all their other responsibilities. Professional bookkeeping services record, store, and organize daily financial data-entry tasks such as: paying bills, posting debits and credits, mailing statements, processing payroll data, preparing sales invoices, and retaining documents for transactions. A professional bookkeeper will teach a small business to help itself all while preparing information for financial statements, internal reports, and quarterly tax returns. Having a bookkeeper from a professional firm helps avoid mistakes and deters theft and fraud.

Online Tools and Software

Software such as Quick Books or Peach Tree are online tools that record data and make reports. However, they do not replace a bookkeeper or an accountant. They are best used in conjunction with an accountant who speaks the accounting language and can interpret financial statements.

What Does An Accountant Do?

Accountants interpret financial data and business owners on making the right business decisions. They measure sales and expenses to determine profit and loss. They can adjust expense entries not entered by the bookkeeper (ie: depreciation, uncollectible accounts, interest on loans, etc.).

Picking the Best Solution

Schedule an appointment with the accountants at Gebhard and Giguere, Ltd located in Lake Elmo, MN. They walk owners through every option to find the one that works best for each individual business.

Call and make an appointment today: (651) 328-6080

Testimonials

I have multiple businesses that need the attention of a good tax professional. And it's more than just filing my returns. I will often have questions throughout the year regarding my taxes and accounting. At each step of the way, the ladies at Gebhard & Giguere have been there. Always quick to answer questions and offer support. I have been working with them for many years and will continue to do so.
~ Jerry
If you want your taxes done by a conscientious team of people look no more! These ladies are the BEST! Trust me! We had a unique situation regarding Canadian income that accountants in FOUR other states could not figure out! But Robin and her vast knowledge and wonderful staff not only completed them correctly but also in a timely manner! They are professional, experienced, as well as nice and caring. Look no farther; you won't be disappointed!
~ Linda
Gebhard & Giguere does an excellent job with our business and personal accounting needs. From employee payroll to quarterly reporting to annual taxes - they have covered all our needs and done so with perfection. They are quick to respond and always ready to help. I mostly appreciate their personal touch, remembering our special nuances and keeping our best interests in mind. I highly recommend Gebhard and Giguere for all of your accounting needs!!!
~ Karen
Great service, very dependable, up to date on Tax laws and their impact on a small business. Would recommend this Accounting Service to anyone who wants quick, dependable, honest and customer oriented tax support.
~ Mark
I've found Robin to be delightful and professional and our taxes were expertly handled. Communication can be a little spotty, which I attribute partly to being the first year I've used their services and not having the client portal log-in until partway through tax season. I do not anticipate this being a problem next season. This isn't a big corporation. You'll be talking to the boss. That's a good thing.
~ Bob