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The Best Tips for a Small Business Owner Managing Their Own Bookkeeping

As a small business owner, it is crucial for you to practice the right bookkeeping practices. If you maintain good financial records, it will make it easier for you to manage your company’s debts, direct deposits, and items you sell on credit by recording and utilizing invoices. In the absence of good bookkeeping in Santa Rosa, you will end up bankrupt even before you can make your investment grow. Below are some practices that bookkeepers in Santa Rosa suggest every business owner consider when maintaining their own bookkeeping. Separate Business and Personal Expenses – It is important for you as [...]

Accounting Mistakes That Put Your Small Business at Risk

Accounting services in Santa Rosa are a quintessential part of any business endeavor – be it large or small. Accounting is more than just addition and subtraction. Many small businesses make the blunder of handling their own money in the hope to save money, but end up making mistakes due to their lack of expertise in accounting procedures. Listed below are few accounting mistakes that can jeopardize your company. Failure to Keep Records of All Expenses – It is extremely important for every business to keep receipts for all business-related purchases. If your company has a credit card statement, it [...]

By |2020-04-29T06:26:04-07:00April 13th, 2020|Bookkeeping, Payroll Services|0 Comments

Tips For Setting Up a New Company’s Payroll

If you are planning on opening a new business, setting up your company’s payroll can be rather overwhelming. Thankfully, there are many nearby payroll processing companies  that can do this for you. However, before you hire someone to run the payroll for your company, it is important to understand the basic steps involved in setting up payroll. Listed below are a few tips you must be aware of when setting up payroll. Register for an Employer Identification Number – This is the very first step in setting up a new company. An employer identification number helps in identifying a business [...]

By |2020-04-02T07:32:55-07:00March 25th, 2020|Payroll, Payroll Services|0 Comments

Protect Your Business Against Payroll Tax Penalties

Over the years, thousands of businesses have been charged with civil penalty for business income taxes and issues with employment taxes. Ignoring the problem will only create more problems in the future. Instead of doing that, it is recommended that you seek assistance and consultation from various companies offering payroll services to customers. If you are a resident of Santa Rosa, you can search for payroll services online to gather information and contact details of the same. A professional tax organization and payroll company has professionals in the team who have deep knowledge on commercial and taxation matters and can [...]

By |2020-04-02T07:37:55-07:00March 15th, 2020|Payroll, Payroll Services|0 Comments

What is a Bookkeeping Service?

A bookkeeping service works to develop and maintain a company’s financial processes and ensure there is a proper record of payables and receivables. The service will ensure all financial transactions done by the company are appropriately documented and recorded. Additionally, they manage payroll, handle sales tax, withholding and quarterly taxes, generate monthly financial reports, and reconcile bank statements. A bookkeeping service allows you to get a clear financial picture of your business and helps you see how the business is performing. What are the Duties and Responsibilities of a Bookkeeper? A bookkeeper’s main responsibility is to maintain the general ledgers [...]

By |2020-04-02T07:26:28-07:00March 5th, 2020|Bookkeeping|0 Comments

What Happens If You Cannot Pay Taxes You Owe?

The IRS is more powerful than you think. It comes down heavily on people who do not pay their taxes. From property attachment to a jail sentence, tax defaulters can face the IRS’s wrath in several different forms. But what if a person who owes taxes cannot pay due to temporary financial hardship? Will the IRS still wreak havoc on their life? Probably not. If you do not have enough funds to pay your taxes, don’t panic, you’re not alone. Every year some 5 million taxpayers need a payment alternative. Your inability to pay taxes you owe is not the [...]

By |2020-03-05T07:49:28-08:00February 27th, 2020|Bookkeeping, bookkeeping services, QuickBooks|0 Comments

Best Bookkeeping Practices That Can Help You Achieve Business Success

Bookkeeping is an integral part of accounting. It involves recording financial transactions and bookkeeping teams support accounting by overseeing the company’s financial data. A bookkeeping team is responsible for maintaining accurate books on payroll, accounts payable and receivable, and must also record daily financial entries and reconciliations. Given the importance of bookkeeping, coming up with an effective bookkeeping strategy should top the priority list of every business owner. Here are some best bookkeeping practices bookkeeping experts swear by. Use an Accounting Software The importance of keeping a record of all your business expenses cannot be emphasized enough. That said, you [...]

California Minimum Wage Rising to $13 for Larger Firms

On Jan 1, 2020, California increased the minimum wage for workers employed with larger firms (at least 26 employees) in the state to $13/hour. The minimum wage for employees employed with smaller firms has been raised to $12/hour. California has been continuously increasing its minimum wage since 2017. The end goal of $15/hour will be reached by 2023. Around 20 Californian cities already have a higher minimum wage rate than the state’s mandate. Speaking to the San Diego Union-Tribune, Californian Assemblywoman Lorena Gonzalez, a long-term advocate for workers’ protection, highlighted the need for a higher minimum wage. She said that [...]

6 Reasons You Should Outsource Accounting

Cash flow is the lifeblood of any business. How businesses manage their cash flow can mean the difference between success and failure. Every business needs a system for measuring, processing, recording, analyzing, reporting, and summarizing financial information. Accounting does exactly that. From preparing and analyzing financial records to computing taxes, accountants perform a number of tasks. Accounting principles and concepts are complex, to say the least. Rather than burdening your employees with accounting tasks, consider outsourcing your accounting to an accounting firm in Santa Rosa. Hiring expert accountants in Sonoma County who specialize in forensic accounting, management consultancy, recovery, taxation, [...]

By |2020-01-26T22:18:35-08:00January 13th, 2020|bookkeeping services|0 Comments

It’s the End of the Year – Are You Thinking About Switching Your Payroll Service?

As a small-business owner, it is best to file your taxes quarterly as it will give you a clear perspective of your finances. This is also the best time to assess your payroll service. If you feel that the service is unable to meet the needs of your business or there is something lacking, the end of the year is the best time to switch services. Remember, the end of the year signifies the end of the quarter, and it presents the best time to choose between the different Santa Rosa payroll services. Before you decide to make the switch, [...]

By |2020-03-05T07:48:50-08:00December 23rd, 2019|Payroll Services, Payroll Services Company|0 Comments