HERE ARE A FEW REAL WORLD QUESTIONS AND HONEST ANSWERS.

Do I need a bookkeeper or accountant if I am just starting my business or if the business has very little activity?

All businesses should track their income and expenses to ensure their financial success. A key part of this is to have an accountant or accounting company assist you with that. Every business, big or small, is different and should be treated with unique entity and receive quality experienced accounting services.

We are committed to providing professional but affordable solutions for all your business needs. When you put your business in our hands, we guide you along the road to success.

How will I get you all the paperwork/data every month?

With today’s technology, there are many different ways to accomplish this. But we structure a specific method that fits your needs and requirements, and we even make on site calls.

How often will I get reports?

As often as you need or want them. Financial reports are provided monthly, quarterly, semi-annually or annually depending on the needs of your business.

Why do I need these reports?

First of all, the business owner needs to know and understand where your business stands financially. Also, banks may require the reports for the purposes of review for a Line of Credit or a loan. Finally, in the future, you may want to buy out a partner or sell the business, and financial reports are a necessity for those transactions as well.

What are the costs for accounting services?

Each business is different, and we structure a monthly or hourly fee based on the needs of the business. We do understand that a business needs to be financially sound in order to grow, and we will do everything we can to provide cost effective and efficient bookkeeping services.

What do I get if I hire you for management accounting for my company?

As a business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we’ll do the following things for you…

  • Accurately record transactions using proper accounting methods;
  • Reconcile your bank accounts;
  • Payroll and payroll liability administrations;
  • Cash flow and budget recommendations
  • Generate financial accounts which includes an income statement and balance sheet
  • Maintain your general ledger
  • Provide unlimited consultations
  • Provide real time information which is vital for sound business decisions.

These tasks form the solid foundation of your business accounting system. You can customize the package of services you receive by adding payroll, budgeting, or any of our other services.

What records do I have to provide to get started?

Our accounting team can develop a system most suitable for your business needs. Any basic record-keeping system will need all check stubs, deposit books, bank statements, client invoices and vendor bills to start the process.

Complete and accurate financial record keeping is crucial to your business success. Good records provide the financial data that helps you operate more efficiently. Accurate and complete records enable you to identify all your business assets, liabilities, income, and expenses. That information helps you pinpoint both the strong and weak phases of your business operations.

Do I need to have my accounts already on a computerised accounting system?

No, that’s what you need us for.  Our accounting team can setup your Company’s accounting system so that you can have the financial data needed to provide valuable insight into the financial well being of your company.

Having your accounting streamlined will provide you with better business reports. These reports will allow you to track your company’s finances so you have the information needed to empower you when making the decisions needed to succeed.

How do I figure out what my short and long term strategy is for my business?

To determine your business’s short and long term strategy, business owners need to devise a Business Plan. A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head, preparing a strategic plan helps you clarify your company’s direction, ensures your key leaders are all “on the same page”, and keeps both management and staff focused on the tasks at hand.

A Strategic Plan is often needed when…

  • Starting a new venture, product or service
  • Expanding a current organization, product or service
  • Buying a new business, product or service
  • Turning around a declining business

The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.

Do I need to outsource my payroll?

Calculating payroll can take up a lot of valuable time to ensure that not only is your business compliant with all of the laws and regulations but that payroll is processed accurately. A payroll company can perform many of the complex tasks required on a weekly, semi-monthly or monthly basis to process payroll accurately.

To get started with outsourcing payroll, a business needs to provides pertinent payroll information for each employee including the gross pay and payroll deductions (ie. pension and health insurance) for each employee. Every business should consider using a company that can offer a number of payroll solutions ranging from simply cutting checks to full-service payroll. This decision will help you save time and ensure that your payroll processing is accurate and in compliance with the employment laws, especially regarding pension and health insurance liabilities.

What information do I need to provide to have payroll prepared?

Accurate payroll calculation is crucial to ensure that your business is compliant with the various laws. At Accounting Concepts, we want to ensure that payroll is processed correctly. We will provide you with some forms to fill out with pertinent payroll information and through our one-hour free consultation; we will establish a process to continue over the time required for your payroll needs.

How can I keep up with all of the new laws and regulations regarding my employees?

Is your office overruled by bureaucracy and paper-flow? Perhaps your HR administration would benefit from being outsourced. Our solutions provide efficient time management, so you can get back to what you do best. We know that taking care of your employees promotes productivity and loyalty. Let us make sure your payroll processing is effortless and efficient.

Of all the functions of your business, the one that should be the least complicated and easy to manage is your payroll. Let Accounting Concepts help you make your payroll processing a breeze. We will increase the productivity of your employees who are managing this process manually and give them the peace of mind that there won’t be any disruptions in their payroll schedule. This will increase the efficiency of your business and ensure that your employees feel valued and are loyal.

Is your business keeping you awake at night?

Managing your company’s financial records is the cornerstone to growth and success. Let us develop this roadmap for your company and minimize your expenses to grow your bottom line. Accuracy and transparency are critical when it comes to your company’s financial credibility. Businesses need these bookkeeping and accounting records to learn from the past and plan for the future.

We are specialists at building and maintaining your financial records . We understand that the process of keeping and managing these records can be very tedious and time consuming. Accounting Concepts is here to help alleviate that burden. We provide you with concise, easy to understand, and accurate financial tools to propel your business forward.

We offer a wide range of services to all business types and sizes from the self-employed to large firms looking to outsource their work. We believe every business, regardless of size can benefit from having a dedicated staff of accounting professionals managing their records and we will customize a plan that is right for you!

Have more questions? Ask Us!