Why local bookkeeping works best

Bookkeeping is critical to the success of small businesses.  It is important for business owners to know how they spend their money and how much money they generate in income each month.  It is surprising (and frightening) how many small business owners do not know how much money they made the prior year until they take a pile of receipts, bank statements, credit card statements, and the like to their tax preparer each Spring on their annual trek to get their income taxes prepared.

Most business owners should do their bookkeeping monthly at the very least.  Each month business owners should enter all of their transactions, reconcile their bank and credit card statements, etc.  Each month business owners should look at their expenses and revenues in order to determine the health of their business. 

Many businesses in the greater Fort Wayne area have elected to have SBS CPA Group handle either all of their bookkeeping or a portion of their bookkeeping including:

1. We have quite a few clients who drop off their bookkeeping in our office.  We do all of the clients bookkeeping and provide them with financial statements.
2. We have a significant number of clients who have one of our three CPAs travel to the client’s location and do the client’s bookkeeping on site on a weekly, monthly, quarterly, or annual basis. 
3. We have a fair number of clients who do their own bookkeeping and hire us to review it periodically or to  provide training and support (often by phone).
4. We handle payroll and payroll taxes for many of our clients.

You can learn more about the bookkeeping services we provide by clicking on this link. 

There are many advantages companies in the greater Fort Wayne, Indiana area can realize by having SBS CPA Group handle their bookkeeping needs locally including:

Our office is conveniently located on the north side of Fort Wayne near the intersection of Coldwater and Dupont Roads.

Our CPA’s often travel to client locations in the greater Fort Wayne area.

We are familiar with the employees and policies of the local taxing agencies.

The Internal Revenue Service (IRS) and many State taxing agencies are diligently auditing small businesses and ensuring that small businesses are filing all of the required forms and paying all of the various taxes they are required to pay.   In order to comply with these audits business owners need to keep good records and need to understand what expenses are tax deductible as well as exactly what tax forms need to be filed by what specific dates.  Last year we assisted our clients deal with various audits including:

1. Sales and Use Tax audits
2. IRS small business income tax audits
3. Workman’s Compensation audits
4. IRS personal income tax return audits
5. Indiana personal income tax return audits
6. Indiana Unemployment tax audits

Accurate bookkeeping and record retention are the keys to dealing with audits.  Please contact us  today to learn how we can help you ensure that your bookkeeping is accurate and compliant with the various regulatory requirements!

Mike Sylvester, CPA/ABV “accredited in business valuation”