At Tom Vignali CPA, Inc., we meet numerous businesses that handle their bookkeeping activities in a variety of ways. Some companies are large enough to be able to afford a CFO or a full-time accounting manager. Some companies have a full-time or part-time bookkeeper. And there are smaller companies where the bookkeeping functions are performed by the owner or an office manager, or are designated to a variety of employees.
A Critical Tool for Successful Businesses
Not all companies can afford to hire staff dedicated to managing the bookkeeping functions, and many times these duties are shared among a variety of staff members as additions to their designated workloads. In some instances, these bookkeeping functions don’t get the full attention they require, and the work performed becomes more of “something that needs to be done” rather than something that merits significant attention and concern. Some business owners have actually told us that they are far too busy running their business to spend time on processing the paperwork! In reality, the “paperwork” or “bookkeeping” is a critical tool in measuring how effective and successful one is at “running their business”! If you don’t definitively measure your performance, how do you know you are doing the right thing?
At Tom Vignali CPA, Inc., we provide you with all of the tools and support to “process the paperwork” while you “run” your business, AND we will provide you with all the data required to measure your performance.
Some of the issues of concern that merit consideration are:
- Timely and accurate posting of payables
- Timely payments
- Timely and accurate posting of receivables
- Timely billing
- Timely and accurate tax filings (sales tax, payroll taxes and withholdings)
- Timely tax payments
- Timely and accurate payroll processing and posting (including benefits)
- Timely and accurate journal entries to generate: P&L, balance sheet, cash flow, A/R, A/P, and sales reports
- Compliance with federal, state and local tax laws and regulations
- Bank statement reconciliation
The Danger of Not Paying Attention
For many small to mid-size companies, these bookkeeping tasks can become cumbersome, overwhelming, and expensive. Based upon staffing time constraints, various tasks might be delayed or performed with less than the attention to detail required. This could result in a delay in billing to customers, which results in delayed receipts of payment. It could result in delayed, incorrect, or missed payments to vendors or creditors, which is never good. It could result in incorrect journal entries resulting in incorrect internal financial statements, which impairs management’s ability to make accurate financial decisions. It could result in violations of labor laws or tax compliance, resulting in expensive fines and penalties.
We could go on at length listing all of the potential drawbacks resulting from not attending to your bookkeeping functions in a comprehensive and accurate fashion. It requires full-time attention with professional expertise. But, in many instances, you might not need or cannot afford staff to manage your bookkeeping needs. However, the accurate and timely fulfillment of the bookkeeping function is critical to the management and success of your business.
Outsourcing Tailored to Your Business
At Tom Vignali CPA, Inc., we offer a full range of integrated bookkeeping services to our clients. These services are tailor-designed to meet the specific needs of our clients. Some clients require all of their bookkeeping to be managed by us on a daily basis. Some clients require only weekly services, and some clients only require monthly services. By tailor-designing our services to the client’s specific needs, our clients are able to obtain full-time attention to their bookkeeping needs without burdening their existing staff with processes they might not be completely trained or skilled at. In some instances, we actually provide training to key employees to facilitate some of the bookkeeping process in-house.
At Tom Vignali CPA, Inc., we can manage any or all of the needs in the above list.
- We can remotely manage all of your accounting functions utilizing QuickBooks™ Online, or we can manage them via the desktop version of QuickBooks™. All of the financial activities and reporting can be managed in a timely and accurate fashion.
- We can manage all of your payroll functions utilizing one of our preferred vendor payroll associates. This assures accuracy of payroll data, benefits, tax compliance, etc. Payroll checks or direct deposit and online employer/employee access to payroll data are included. All relevant payroll reports are included. Once initialized, you will only need to make one call to us per payroll period to verify employee hours for that period. Everything else is taken care of, with no additional effort on your part.
- We can manage all of your bank accounts, make vendor payments, receive customer deposits, and reconcile your bank accounts.
Additionally, depending on the levels of services used, this process also provides you with accurate interim and year-end financial reports, and makes tax planning and tax return filing much easier.
These bookkeeping services can be designed in a limited or all-inclusive fashion to meet your individual needs. No longer should bookkeeping be an arduous or cumbersome task. No longer should you be waiting for a financial report. And, no longer should you be waiting for “something to get done”!
If you would like to further discuss these services, don’t hesitate to contact us at Tom Vignali CPA, Inc.
Contact Us:
Thomas W. Vignali CPA Inc.
118 Point Judith Road
Narragansett, RI 02882
T: (401) 415-0798
tom@tomvignalicpa.com
www.tomvignalicpa.com
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