What is small business accounting?
Small business accounting, like all accounting, serves the purpose of tracking the money that flows in and out of the accounts associated with the business. This includes purchases, sales, payments, revenue, and liabilities. Analyzing and reporting on this financial data is important in order to gauge the health of the business so that it can work to become more profitable.
Essentially, small business accounting tasks boil down to a few activities:
- Analyzing financial records
- Create financial reports
- Prepare business financial statements
- Record financial transactions
- File tax returns
- Bank reconciliation
- Set up accounting software
Even with a separate bank account and business credit card dedicated to business expenses, the accounting process can become overwhelming. Fortunately, Aldridge Borden’s eagle-eyed small business accountants help you stay organized and find new opportunities for your business to grow! Contact us now to get started on the road to optimal financial health.
Do Small Businesses Need an Accountant?
To be totally honest, a small business does not need an accountant to be successful. The truth is, though, that accounting is an important activity that can help businesses and business owners identify issues as well as plan for the future.
A small business accountant can monitor bank accounts, catch errors, and save you tons of time and money. For this reason, many small businesses consider using accountants exclusively around tax time. They recognize the need of having a professional accountant review their ledgers, income statements, and business transactions to avoid making errors. The same can be said for accountants for the rest of the year. The expertise of an accountant can help small businesses analyze their financial data and make recommendations that can set the business up for short-term and long-term success.
No matter what accounting method or process you need support with, we’re here to help you succeed.
Managing a BUSINESS BANK ACCOUNT: THE BENEFITS OF ACCOUNTING FOR SMALL BUSINESS
Hiring a professional accountant or accounting firm for your small business may seem daunting, but there are a plethora of benefits to having an accountant working with you. Accountants can provide assistance with tax preparation, financial statements and reporting, and much more.
Additional benefits a certified public accountant can provide for small businesses include the following:
- Maintaining Inventory Records
- Monitoring business assets, income, and expenses
- Preparing financial statements and other documentation
- Managing accounts payable, accounts receivable, etc
- Advising on business entity structure
- Dealing with compliance and sales tax issues
- Handling complex labor costs
- And much more…
Whether you need comprehensive financial reporting or simple tax advice, Aldridge Borden’s certified public accountants are experts you can trust. We can even help you set up the latest and greatest small business accounting software so you can implement your own effective system. We’re here to offer as much or as little help as you wish!
ARE YOU A SMALL BUSINESS OWNER? EXPLORE ALDRIDGE BORDEN & COMPANY’S SMALL BUSINESS ACCOUNTING SERVICES IN MONTGOMERY
Aldridge Borden is a small business accounting firm in Montgomery, Alabama that is more than eager to help small businesses manage their finances. Having been around for decades, the CPAs at Aldridge Borden can leverage their vast experience to handle any mix of complex issues that may arrive.
We collaborate closely with you and your team to develop an accounting system that works best for you and your unique business plan. For some small businesses, accounting may seem intimidating and expensive. This is completely rational, and Aldridge Borden is still prepared to help. Our team of experienced small business accountants has developed OneSource to automate many of the small business accounting processes. This cloud accounting software can streamline business activities and help small businesses succeed sooner.
As financial professionals with decades of experience, we are ready to help small business owners in Montgomery, Wetumpka, and beyond take charge of their financial futures.
Ready to learn more about small business accounting or online accounting software? Please contact us ASAP.