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 Accounting.

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 in time.

Disadvantage: Requires strong in-house accounting staff and ongoing oversight. Large software learning curve.

Problem: Places the business owner in the "accounting" business.

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 accountant.

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 start up.

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 process.

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.