SMALL BUSINESS ACCOUNTING SOFTWARE
Software installed on a computer at a business has the capacity
to perform many varied accounting and bookkeeping functions,
it requires the user to possess a strong understanding of
accounting principles and general bookkeeping. For a closely
held business a broad understanding of Federal Income Tax
Advantage: Access to reasonably priced software that
deals with the varied bookkeeping issues such as check writing,
payroll calculation, billing and accounts receivable, job
costing, accounts Payable, inventories and time records. Financial
position and operating results can be viewed at any point
Disadvantage: Requires strong in-house accounting
staff and ongoing oversight. Large software learning curve.
Problem: Places the business owner in the "accounting"
The End Result: Not the best approach for all businesses.
Works best where the bookkeeping needs are most critical for
time billing, receivables job costing and inventories.
SMALL BUSINESS BOOKKEEPING SOFTWARE
Installed on a computer or available over the internet, offers
many bookkeeping features of an accounting package such as
check writing, bank balance maintenance, payrolls, billing
and payables without having to deal with accounting issues.
Information is physically delivered for the completion of
the accounting function, providing after the fact financial
position and operating results for the client.
Advantage: Allows company personnel to focus on the
bookkeeping functions and avoid dealing with the accounting
issues. Data is directly available for transmittal to your
Disadvantage: Management reports can be produced but
financial position and operating results cannot.
Problem: Cost of bookkeeping software can exceed the
cost of accounting software.
The End Result: Cost effective for small business
with small transaction volume in initial stages of company
SMALL BUSINESS ACCOUNTING SOLUTIONS
Having an Accountant Prepare Checks
Client periodically delivers payables and payroll information
to accountant for preparation of payroll and vendor checks
for signature by the client. Information for accounting and
payroll reporting is captured during the check preparation
Advantage: Client does not require staff, facilities
of computer access and the accounting process is simultaneous.
Disadvantage: Business is charged too much for professional
fees for some bookkeeping services.
Problem: Business relies on accountant for bank maintenance.
The End Result: Works well where client does not maintain
facilities or support staff. Does not divert time from moneymaking
activities where bookkeeping activity is minimal.
THE END RESULT, INC. SOLUTION
We can provide all the services of an in-house bookkeeper,
corporate controller and an outside small business accounting
firm for less than the cost of a part-time bookkeeper. We
take the burden out of managing accounts receivable, paying
bills and payroll. We also assist you in cash flow management.
Many companies outsource their bookkeeping and accounting
functions. Not only do they save valuable cash; they also
get peace of mind and the opportunity to focus on the business.
When you hire The End Result, Inc., we will set up
a schedule based upon your needs. We will input accounts receivable
invoices, and bills payable. We handle billing your customers,
posting all payments, and provide you with up-to-date accounts
receivable aging information. We will prepare checks to pay
your bills based upon your approval and ready for your signature.
We will coordinate your payroll information, deliver it to
you in a timely manner and provide reports that will help
manage your cash flow.
In addition, you can reduce (or in some cases eliminate)
accounting staff and costs associated with having employees.
You can reduce office space, payroll taxes, employee benefits,
equipment costs, software costs and the effort to manage employees.