For small business owners in Broken Arrow, business is booming. The economy is strong, and with Main Street bustling with activity, so is business. As you know, a vital part of your business team is your accountant. Most small businesses want to avoid the high cost of hiring an in-house bookkeeper and benefit from outsourcing their accounting needs to a trusted bookkeeping, payroll, and tax professional.
Is It Time for a Change in Your Bookkeeping Service?
If you’ve done your bookkeeping in-house, or you used a bookkeeping service that you are not pleased with any longer, the need for a change is necessary in order to better meet your business’ current and future needs. It may be wise to consider transitioning to a local bookkeeping service that specializes in your industry.
Valid Reasons to Transition to a New Bookkeeping Service
Here are some reasons small businesses transition to a new accountant:
- The firm you have been using lacks up-to-date technology.
- The accountant you have been using is too hard to reach by phone or email.
- The bookkeeper doesn’t have a grasp on your specific industry and your precise needs.
- The cost of your current accounting services makes you feel like you are overpaying.
- The lack of trust in your current accounting firm.
- The inability to communicate effectively about key issues.
- Your current accountant doesn’t provide the expert bookkeeping services you desire.
- You have outgrown the services your current accountant provides.
- Your accountant doesn’t specialize in business taxes, which could cost your business.
- You are feeling out of control of your small business books.
- Your current bookkeeping service has made mistakes such as late or inaccurate payroll, reports, or quarterly tax filing.
Ready to Make a Change?
If you’re ready to transition to a new bookkeeping service for your small business, look for one that specializes in your industry and gives you peace of mind regarding your business finances. Partnering with a committed small business bookkeeping firm will take the hassle out of bookkeeping, payroll, and taxes. Imagine having the assurance that your books, payroll, and taxes are all accurate and on time.
Benefits to Finding the Right Bookkeeping Service
The right bookkeeping service for your small business will keep up with the IRS and state regulations in exchange for freeing up your time to do what you do best—grow your business. The right service will answer your questions and do their part, while keeping you in control.
Keys to Transitioning to a New Bookkeeping, Payroll, and Tax Service
Here are some keys to transitioning to a new bookkeeping service for your small business:
1. Interview a new bookkeeping service
- Ask for references from current clients
- Verify they are knowledgeable about your industry
- Get a firm understanding of their services
- Evaluate the price and services offered
- Learn about the steps to transition to their services
- Make sure you have a mutual trust
2. Give ample notice to your current accountant of the change
- Make a checklist of items you’ll need passed from your previous accountant to your new bookkeeping service.
- Have your previous accountant hand off the list of files and documents to the new bookkeeping service in a timely manner to avoid delays in upkeep or payroll.
3. Provide your new bookkeeping service with the necessary documentation
- For Payroll Services—To accurately pay employees and manage payroll for your small business, provide the following to ensure you are prepared in case you are ever audited by the IRS.
- W-4 for all current and new employees
- I-9 for all current and new employees
- Pay rate for each employee
- Bank account data to process direct deposits or print checks
- Complete time sheets or payroll reports submitted with each pay period
- For Quarterly Review Bookkeeping Services
- Monthly documents needed to manage and report your company’s bookkeeping and sales tax records for tax purposes.
- The following are needed monthly if applicable: bank statements, credit card statements, bills and vendor invoices, customer or client invoices, cash on hand, loan statements, sales reports
4. Set new goals with your Bookkeeping Service to help your business grow.
- Transition times are prime times to outline a clear path to your goals—and even set new ones. Here’s how:
- Help your new accountant understand why you switched services.
- Set expectations between you and your new accountant so you know what can be expected of each other.
- Set goals for regular communication and reporting so you stay on track.
A Relationship Built on a Foundation of Trust
Your bookkeeping service should have a distinct understanding of who you pay, who pays you, and how to maximize your return on investments. Your relationship with your bookkeeping service should be built on a solid foundation of trust, and you should be comfortable being transparent with them about your business finances. You should have a solid confidence that the bookkeeping service is accurate and efficient.
Avoid Complicated and Time-Consuming Bookkeeping
Confident, savvy business owners know how important it is to stay up-to-date on tax laws, regulations, and quarterly payments as well as have business books, taxes, and payroll that are on time and accurate. The problem is, bookkeeping, payroll, and business taxes can be complicated and time-consuming. Business owners can find themselves feeling frustrated, stressed, and overwhelmed about their business finances.
- Bookkeeping mistakes can put your business at risk and cost you dearly on your taxes.
- Payroll mistakes can cause problems with employees and cost you as well.
Get Accurate Bookkeeping for Your Small Business
At Shockley Bookkeeping, we believe it should be easy to manage your small business books accurately and efficiently, pay employees, and submit taxes on time. That’s why with over 50 years of combined experience, our team has helped hundreds of small businesses in Broken Arrow get their books on track and manage them accurately month after month.
Quickbooks Certified ProAdvisor
As a Quickbooks Certified ProAdvisor, Shockley Bookkeeping can handle all your bookkeeping and payroll needs—from set-up to payroll, tax preparation, quarterly tax filings, and general bookkeeping.
Stay Informed About Your Business Books
We work closely with you, keeping you informed and in control. For continuity, we assign one person as your account manager and reviewer to answer any questions you may have. See our bookkeeping services and contact Shockley Bookkeeping today for a free quote and consultation.