Accounting Solutions: The Top 7 Ways to Get Your Accounting

accounting solution

Every business needs a proper accounting system, which at the same time can be rather cumbersome and time-consuming. If you do not have much time to spend time on your books, your payroll, taxes, and finances, then you might want to get an accounting aid.

Here are the top 7 options to consider:

1. Hire an Accountant

The use of an external professional accountant can be said to be the most complete approach to outsourcing accounting. Accountants can provide a range of services, including:

- Accounting – Documenting activities, altering accounts, balancing accounts
- Payroll Services: It involves calculating the payroll, the taxes that need to be deducted as well as filing the returns.
- Financial Statements - Balances sheets, income statements, statements of cash flow
- Tax Consultancy – Business tax returns, sales tax returns, and payroll tax returns.
- Consultative Services – Management and financial consultation, cost computation and estimation, budget preparation

These tasks include the major accounting activities that a certified accountant is capable of fulfilling on your behalf while you smoothly continue with business. They can also keep you in line with the law and at the same time prevent you from missing out on the best tax exemptions. Evaluate your given budget and look for an affordable accountant who suits your needs.

2. Use Accounting Software

Most of the currently available accounting software is even capable of handling some level of accounting work on your behalf. Software like QuickBooks Online and Xero allows you to:

- Maintain records of revenues and costs
- Bill and collection
- Run financial reports
- File payroll taxes
- And more

For small businesses and entrepreneurs, accounting software may be an ideal choice before running to a professional accountant. When selecting software, ensure that the software that you are choosing meets your business requirements. Services like QuickBooks Online are cloud-based services that come equipped with rich functionality and the ability to adapt.

3. Hire a Bookkeeper

If you only require basic accounting services such as entry of transactions, balancing the accounts, or tracking of payments, then it would be advisable for you to hire freelance bookkeepers. This may be beneficial for keeping your books up to date without the need to constantly employ a full-time accountant.

It is also important to note that many workers in this field are part-time or project-based workers. This does not fit the rhythm of financial recording which comes with its swings and roundabouts. You just tell what services you require to be done and you will just be billed for what is necessary.

4. To use our payroll services, please contract us and fill in the application form below.

They will also see the dangers of running payroll themselves, which can be a very large headache if not done correctly. Taxes also need to be determined and collected about federal and state regulations so as not to incur penalties.

Today, online payroll tools such as Gusto, OnPay, and Patriot Payroll have broken it down into easy-to-use dashboards. Some key perks include:

- Federal/state/local tax calculations on the amount of compensation paid to the employees
- Direct deposits and payroll debit cards are popular methods for receiving wages since they allow employees to receive their salaries or wages without having to visit a bank to cash checks or deposit money into a checking or savings account.
- Pay-as-you-go workers comp
- Unemployment claims, garnishments, and a host of administrative functions.
- Preparation and submission of all tax returns due at the close of the year

The price range falls at $39 base fee + $4 per person per month. Worthwhile for the reduction of risk as well as the appreciation of knowing that payroll taxes have been processed correctly.

5. Get Free Accounting Help

Believe it or not, several free resources provide helpful accounting services and guidance for small business owners:

IRS Small Business Tax Center – This is a section of the IRS website that specifically provides information to small businesses on the tax laws that they need to adhere to. This can provide an answer to such fundamental filing queries as,

Free Business Mentorship and Education from Retired Executives: SCORE Business Mentors To ask any accounting questions, the local SCORE office should be contacted.

Local Business Events – Your chamber of commerce or the small business association that you belong to may have a seminar concerning accounting problems or when to hire an accountant. These are the events you should attend to get advice.

Small Business & Accounting – Online discussion boards such as Reddit and Quora contain relevant subreddits and threads. They can get information about taxes from other businessmen or recommend certain software.

Use these gratis features for accounting education and advice before you spend money on help. But recall that while filing your taxes formally, the best bet is to consult a paid CPA, accountant, or tax professional to avoid a mistake.

6. Barter Services

If it still poses a problem to use your scarce cash to hire an accountant, take advantage of the barter system to get the services of an accountant. For instance: propose your IT, marketing, or any other specialty in exchange for the accountant’s time.

One advantage of bartering is that it enables the two parties to address certain needs that arise when critical resources are required yet one of them has no cash. Just ensure that you formalize it so that the work you are going to do, the obligations, the timelines, and all other aspects are clearly outlined. Haggling is more time-consuming, but it is well suitable for the young small business person who needs to build his company from the ground.

7. Hire Accounting Students

Also, always consider going to the accounting students in the local college or any university in your search. These students require practical exposure and perhaps can devote more time than the highly paid employees.

Place information about post-internship positions and discuss maybe assisting with simple jobs such as data input or checking the balance sheet. In return, you offer students practical experience while offering your company the opportunity to outsource simple, but time-consuming tasks at an affordable rate.

If there is any confusion with the employer just be Transparent about the Scope of Work.

When hiring the services of an accounting help firm, regardless of the plan selected, ensure that duties and roles are established during orientation. It is imperative to indicate the nature of work that you want them to perform and which tasks you do not expect them to accomplish to ensure that expectations are met on both ends. Perhaps you manage invoicing but may require help in bank/credit card account reconciliation monthly. Full disclosure benefits every party involved.

Overseeing the financial operations of any company is by no means a walk in the park. However, to ensure that one is not left with a major gap, it is always reassuring to have the right accounting support. Now you can free up time and energy to begin thinking about how to grow your business rather than how to do your numbers. Follow the above steps to be able to get the right accounting solutions that will suit your needs and financial capacity.

Contact us here for accounting services now!

MAC Logo

Get Help Fast!

My Accounts Consultant Helps Accounting & Bookkeeping Services help you save money, better understand your business and find the Accounts problems before they hurt you.