For any business, accurate and well-organized financial information is crucial. Precise financial data is needed when it comes to making smart business decisions, filing accurate tax returns, catching potential problems before they become problems, and submitting payroll taxes. Spending the time and resources to handle this within your business can feel overwhelming. Considering outsourced accounting could provide the peace of mind your company needs.
WHAT OUTSOURCED ACCOUNTING SERVICES DOES FRICKE & ASSOCIATES, P.C. PROVIDE?
Here at Fricke & Associates, P.C., we are ready to provide you with a full-service accounting solution. We understand how essential it is to keep accurate financial data. When you outsource your accounting and bookkeeping needs, you will have more time and resources to run your company and invest in growing your business.
We provide complete outsourced accounting services for our clients, which eliminates the cost of computer hardware, staff, and storage.
- Payroll Processing
- Accounts Receivable and Accounts Payable Processing
- Reconciliation of Bank Statements
- Posting of Entries to the General Ledger
- Preparation of Financial Statements
- Preparing Sales Tax and Payroll Tax Returns
WHAT IS THE DIFFERENCE BETWEEN ACCOUNTING AND BOOKKEEPING?
Although accounting and bookkeeping are similar, there are some key differences. Bookkeeping is primarily related to defining, measuring, and recording financial transactions whereas accounting is the process of condensing, interpreting, and conveying any financial transactions to any necessary parties. While business decisions can be made with the data from accounting, this is not true of the data from bookkeeping.
Another key difference is that bookkeeping doesn’t require a specialized skill set, but accounting requires the ability to analyze financial data. While an accountant will prepare the budget, taxes, and loan plans for a business, a bookkeeper will either perform single entry or double entry bookkeeping.
DOES FRICKE & ASSOCIATES, P.C. WORK WITH A COMPANY’S EXISTING ACCOUNTING DEPARTMENT?
If you are not ready to outsource all accounting responsibilities, we alternatively will work with your internal accounting department in the preparation of monthly or quarterly financial statements.
We utilize a number of accounting software products, and we have Quickbooks and Xero certified staff members. Combining our expertise with industry best practices, you can be confident that your financial data is accurately reported. When all of your data is prepared by professionals, you will remain in compliance with all tax laws and regulations. Additionally, you can make informed, wise business decisions. Schedule a consultation with Fricke & Associates, P.C. to learn more about how outsourced accounting can benefit your business!