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Accounting

Outsourcing Accounting Services is an Investment for Your Small Business

Outsourcing Accounting Services is an Investment for Your Small Business

As a small business owner in Miami, you want to make investments in your business; outsourcing accounting services in Miami will do that just that. QuickBooks is a great accounting software program, but unlike what most people think you need to have basic accounting skills. As a Miami Accountant I see it all too often, garbage in – garbage out. Our Accounting Services in Miami are your virtual accountants that can help you keep your books straight and accurate. Our accounting services in Miami will also save you money and help you better the bottom line of your business. Accounting Miami Firms are not all the same. Accounting is something that you need to outsource, so do not try to do it yourself. Look at how Accounting Miami is actually an investment for your business.

Use Accounting Services that are Streamlined:

With all the options out there, small business owners have choices. Outsourced accounting services, are becoming more and more popular today. You will find that there are easy ways to get information online and you can have your documents submitted electronically. You will also be able to easily communicate through email, Share Point sites, and know that you will be able to get it done so easily. Make sure that you are looking at these streamlined Accounting Firms so that you can get your accounting done quicker and easier.

Save Money with Accounting Services Miami:

People do not realize or comprehend the amount of money that you can save by outsourcing your bookkeeping and accounting services in Miami. You are going to be able to pay someone by the hours that they actually bill instead of paying them a salary. Outsourced accounting services in Miami is going to save you a ton of money and are going to be an excellent way to save you cash by not hiring someone in your office that requires extra pay for when the accounting is slower. You will find that just in the recruiting, training, and advertising for a new employee that you will save a ton of money just outsourcing your accounting.

Access Accounting Services that Corporations are used To

The hard part about hiring accountants in house is that you just do not get the best of the best. Those accountants require a higher salary and generally end up in the hands of a corporation that is much larger. What you will find is that with Accounting Miami, you will be able to take advantage of a team of accountants and CPA’s, which are more like what a large corporation gets. Get talent and do not pay the extra cash that you would generally have to shell out for.

Accountability and Liability

If there is an error in your books and you do it yourself, it is your fault. Instead, what you will find is that when you outsource accounting you take the liability out of your hands. You want to have someone else to blame if there is an error and even though a team of professionals does a great job if they make an error, they are to blame for it. Be sure that you are looking into Accounting Services in Miami and getting what you need to have quality accounting completed for you that is error free.

 

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Business Trends

Outsource Your Bookkeeping and Focus on Selling

Outsource Your Bookkeeping and Focus on Selling

Our Miami Bookkeeping Services handle all your daily accounting needs: invoices and statements, accounts payable, cash receipts and disbursements, payroll, bank reconciliations and recurring reports. Your bookkeeper will be in contact with you daily by Instant Messenger, email or phone with any questions or concerns. All under the supervision of our accountants in our Miami CPA Firm.

Accounts Receivable

Get your invoices out promptly and send monthly statements on the date of your choice.

We offer two options:

  • We prepare your sales invoice from information you email to our bookkeeper. We email you the final invoice for approval.
  • You generate invoices and statements through time and billing software. Your bookkeeper posts or imports the invoices into your accounting software.

Whether we prepare your invoices for you or you generate them yourself, we can print and mail or email customer invoices and statements on your behalf.

Accounts Receivable reports for collection and cash flow management are prepared and delivered to you on a schedule of your choice. Finance changes are assessed on overdue invoices based on your company’s payment terms and conditions, and statements can be initiated and transmitted on a schedule of your choice.

Accounts Payable

Invoices you receive from vendors will need to be scanned and emailed to us. We provide a scanner with PaperPort scanning software at no cost.

This process is as simple as 1-2-3:

1. Insert the invoice into the scanner then press the Scan button.

2. Name the file that appears on your screen (give it a unique name)

3. Click the email icon to create an email, attach the file and send.

That’s it! You’re done! Your vendor invoices for the day are on the way to us for recording into your accounting file.

Alternately, you can have vendor invoices mailed or emailed directly to us for processing.

On a schedule determined by you, we will email you a report of all open vendor invoices. Just indicate which invoices you want paid, then email the report back. We will set up the requested bill payment checks in your accounting file.

Once the checks are ready to print, we offer two options for printing:

  • You or a designated staff member can log into your accounting software and print checks directly to your local printer.
  • We can print the checks and mail or deliver them to you.

The printed checks are signed and mailed from your office. You maintain full control over your funds.

Cash Receipts

Prior to taking deposits to the bank, you will scan the deposit slip and each of the items to be deposited. Then create an email and upload the file at your convenience. We will post the customer payments against the appropriate customer invoices and record the bank deposit.

Payroll Services

We either processes payroll or makes the necessary entries to record payroll processed by a third-party provider. In either case, payroll entries will include complete recording of gross wages, employer taxes and other payroll expenses, and payroll liabilities, and quarterly and annual reconciliation of general ledger balances to payroll returns. If needed, we can also initiate transfers from your operating bank account to your payroll bank account to cover payroll if these accounts are held by the same bank.

We do recommend direct deposit of employee paychecks whenever possible.

Banking Activities

We will have access to view and download transaction history and bank statements, and, if desired, to transfer funds between business accounts at your bank. We will not have the authority to sign checks or to initiate electronic payments that have not been pre-approved by you or a designated staff member.

Bank account activity is updated daily in your accounting file, so that you always know your available cash balance. Transactions that appear in your bank account that we have no knowledge of will be posted, but we will inform you of these transactions and request supporting information by email. Bank account balance notifications and cash receipts and disbursement reports can be emailed to you daily, weekly, or monthly as desired.

Banking, credit card, and loan accounts are reconciled to the corresponding statements each month, and the reconciliation reports are emailed to you promptly. When emailing the reconciliation report, we will call your attention to old outstanding items that require resolution and will also provide a list of any missing check numbers for security and control purposes.

Bank Reconciliation

Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to…

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing. You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Compiled Financial Statements

You’ll get a complete set Compiled Financial Statements of on either a monthly or quarterly basis (you’re preference). The financials will consist of a Balance Sheet and Income Statement also known as a Profit & Loss. We will set up a Web Conference to review your financial results each quarter. This gives you and us a forum for Q&A and advisory type services.

 

 

Categories
Accounting

Bookkeeping Services Miami Top Overtime Traps

Bookkeeping Services

Bookkeeping Services remind business owners who often look for ways to bootstrap or ask employees to go above and beyond. But overlooking overtime could land you in a heap of trouble, according to Bookkeeping Services VieraCPA.

Bookkeeping Services in Miami

Bookkeeping Services VieraCPA notes this is the age of expensive equity and debt financing for startup entrepreneurs and small-business owners. The prudent way for business owners to weather this storm is to stretch their company’s cash flow and operating assets in clever, cost-effective ways according to their Bookkeeping Services. Employee compensation is no exception.

According Bookkeeping Services VieraCPA the problem with bootstrapping compensation to employees is that it’s easy for business owners to fall out of compliance with federal and state payroll regulations. One of the most common areas of oversight is the failure to pay overtime wages to certain types of employees.

Bookkeeping Services – Plan ahead to avoid payroll surprise

Bookkeeping Services class employees as either “exempt” or “nonexempt” when it comes to receiving overtime pay for working above 40 hours in a single workweek. Nonexempt employees are generally non-salaried employees who have no direct managerial oversight of other employees or the discretion to make decisions on matters of significance to the organization. The minimum pay rate for overtime is 1.5 times regular pay.

Here’s the gotcha that often catches business owners off guard. Even if an eager, extra-hardworking nonexempt employee wants to work longer hours without pay, a company is still liable for the cash obligation. Former employees who later leave a company on unfriendly terms can seek overtime back pay and cause a nightmare of audit activity from payroll tax authorities.

To minimize payroll surprises, Bookkeeping Services advise business owners to take care to classify their workers according to definitions of exempt and nonexempt employees under the Fair Labor Standards Act. The definitions are not always clear-cut. Some types of administrative, customer service, engineering, marketing and website workers may be entitled to overtime pay while others may not.

Closing overtime loopholes

Under the Fair Labor Standards Act, Bookkeeping Services VieraCPA advises business owners they can no longer simply give employees an impressive job title or put them “on salary” to avoid overtime pay obligations. Now, to qualify as an “exempt” employee, all of the Department of Labor’s qualifications for a specific type of job must be met. Key classification descriptions are available for software, administrative, professional and other jobs at the Department of Labor’s website.

Bookkeeping Services is frequently asked by cash-poor startup entrepreneurs or business owners seeking to turn around struggling operations if they can use common stock or stock options to sidestep minimum wage or overtime pay obligations. They argue that the stock is a form of compensation that may, over time, be worth far more than current cash payments.

That’s true, but if the Department of Labor or local payroll tax authorities find out about the non-cash payment, the business owner will still be held accountable for minimum wage and overtime payments to nonexempt employees. Further, officers and board members of companies can be personally liable for unpaid payroll tax obligations if a company is unable to meet its tax obligations.

Bookkeeping Services notes one last payroll documentation management tip. The Fair Labor Standards Act requires employers to keep payroll and other records for nonexempt employees for three years. The IRS requires employers to keep employment-related tax records for four years.

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Accounting

Accountant in Miami Formalizes Accounting and Bookkeeping Program

Accountant in Miami Formalizes Accounting and Bookkeeping Program

Accountant in Miami has launched new tools to connect Accounting and Bookkeeping Pro’s with nearly 300,000 small business customers, in an effort to help the Accountant in Miami community grow their business, as well as that of the company.

These tools are the latest addition to Accountants Network, which currently comprises approximately 650 Accountant in Miami who help small businesses with Accounting and Bookkeeping, bookkeeping and tax preparation.

The new features of the Accountant in Miami Network include a directory of nearly 300,000 Accountant in Miami users who can now search for by location and specific area of expertise, including accounting, bookkeeping, training/consulting and tax preparation; a dedicated profile page for each Accounting Services Miami Pro; a community forum for Q&As; and free promotion for Accountant in Miami.

Our end users had been coming to us through tech support looking for a Accountant to assist them and at the same time, over the past year, we’ve been building a database of Accountingand bookkeepers who expressed interest in helping our customers. Accountants are very big influencers in helping clients decide what accounting systems they will use and for our customers that come to us through Web searches, we can now formally provide a network of Accountant in Miami that are knowledgeable about the tool and can keep them on it. For accountants, this [network] can be a significant source of new business.”

Categories
Tax

Bookkeeping Services in Miami Tax Fraud Undetected by IRS

Bookkeeping Services in Miami Tax Fraud Undetected by IRS

Bookkeeping Services in Miami note that identity theft is having a much larger impact on tax administration than the amount the Internal Revenue Service detects and prevents, according to a new report.

The report shared by Bookkeeping Services in Miami  VieraCPA, noted that the IRS reported that it detected 938,664 tax returns totaling $6.5 billion in fraud for processing year 2011 tax returns. Using the characteristics of confirmed identity theft, TIGTA identified approximately 1.5 million additional undetected tax returns with potentially fraudulent tax refunds totaling in excess of $5.2 billion by Bookkeeping Services in Miami . TIGTA estimates that the IRS could issue $21 billion in fraudulent tax refunds over the next five years.

The IRS has expanded its efforts to detect and prevent identity theft by Bookkeeping Services in Miami , but added that the report found multiple reasons for the IRS’s inability to detect billions of dollars in fraud. As identity theft is the most frequent consumer complaint, and at a time when every dollar counts, these results are extremely troubling. Undetected tax refund fraud by Bookkeeping Services in Miami results in significant unintended federal outlays and has the potential to erode taxpayer confidence in our nation’s system of tax administration.

TIGTA initiated its audit at the request of the chairman of the Senate Finance Committee’s Subcommittee on Fiscal Responsibility and Economic Growth. The overall objective of the review was to evaluate the effectiveness of the IRS’s efforts to identify and prevent fraudulent tax refunds resulting from identity theft.

The reasons TIGTA found that the IRS did not detect billions of dollars’ worth of identity-theft-related tax refund fraud by Bookkeeping Services in Miami include delayed access to third-party income and withholding information.

These delays make it difficult for the IRS to detect fraudulent tax refunds at the time tax returns are processed. Third parties are not required to submit income and withholding documents to the IRS until March 31, yet taxpayers can begin filing tax returns in mid-January.

The report also found that the IRS has not developed processes to obtain and use the third-party information that is available at the time tax returns are filed. The use of direct deposits, including debit cards, to claim fraudulent tax refunds increases the risk that the IRS will not detect identity theft. The IRS continues to allow multiple direct deposits to the same bank account.

 

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Accounting

The Changing Role of the Traditional Local Miami CPA Firm

A Miami CPA Firm Personal Perspective

Over the past 20 years I’ve seen the old, established, and familiar tools of the Miami CPA Firm nearly all become replaced.  In fact, other than the trusted 10-key printing calculator, and the over-sized coffee pot, most Miami CPA Firm are beginning to shift towards contemporary technology.

While most Miami CPA Firm prefer to be contacted by email, and dread the thought of a client requesting a printed copy of their tax return, almost all of our desks are full of brightly lit monitors displaying a myriad of data.  Although most of our familiar tools have been upgraded, we have continued to provide services based on a legacy business model.

For decades, the local Miami CPA Firm was a transactional-based business, only working when our clients brought us something to do. We prepared periodic financial statements, a year-end tax return, and perhaps random ad-hoc projects brought to us by the client throughout the year. We watched gradually as the client began to take billable time away from us as they began to pursue other alternatives.

The user friendliness of such software as QuickBooks and TurboTax made it a viable solution for companies looking to manage their own accounting, tax-preparation, and Accounting and Bookkeeping activities.  Firms were no longer on the forefront of each client’s financial information, but rather sidelined as clients began to assume the role that we once held.

While most Miami CPA Firm would view these revolutionary changes as a threat, my practice views them as an opportunity for business growth. Over the last several years, we have heavily invested in innovative technology and training to become the Miami CPA Firm of the future. The fierce competition has encouraged us to become more dedicated to improving work flows, accelerating change, and speeding up existing processes in order to improve client services and increase satisfaction.

We realize that while our clients might utilize the same accounting tools that we have, they do not have the essential training or expertise to be able to use the tools as effectively as we can. Additionally, they may not be able to translate exactly what the numbers mean, and validate whether the information is accurate. Therefore, they still require the assistance of a Miami CPA Firm, but in a different capacity.

The client’s initial motivation for pursuing accounting software was not to replace our expertise, but rather minimize the cost of busy work. When clients handed over their records, they did not know how many hours Miami CPA’s were performing for them, or understand all the crucial activities associated with preparing consolidated financial statements.  Helping our client’s understand the exact nature of the services Miami CPA Firm provide, became key to establishing a strong, long-term professional relationship.

In order for any Miami CPA Firm to flourish, it’s important that clients are provided with reliable, accurate, and timely information to effectively manage their businesses. If clients are no longer inclined to pay for traditional activities, because they have replaced such services by an implementation of accounting software, they may not have reliable, accurate, and timely information readily available to them. Armed with this knowledge, we decided to transform the working relationship with our business clients into a collaborative workforce with knowledge sharing.

Rather than strictly focusing on billable hours, we conformed to providing fixed value based arrangements unique to each client’s needs.  We designed four unique services that ranged from having a client completely outsource all their financial operations to our Miami CPA Firm, to a monthly on-site financial tune-up visit by one of our Miami CPA’s.

In establishing a fixed fee arrangement, the client knew the exact services that they were purchasing, what work was being performed for them, and at a price they could predictably budget for. Likewise, our office gained two advantages.  First, we gained predictable cash flow. It was no longer a guessing game to predict how many hours we would be able to bill for. Secondly, we were able to treat the relationship like a business.  It became our responsibility to maximize the profitability of the relationship by working effectively with each client.

We found that the more effectively we worked, the higher the return on the client, and the longer the relationship would last. This strategy did not occur overnight and took a significant amount of time to implement.  Through strategic acquisitions, smart leadership, and effective communication we were able to help our Miami Accounting Firm grow in an otherwise stagnate economy.

To continue to help our business grow, we look for clients that have a need for an Miami Accountant, and have a positive cash flow. If they are a good fit for our Miami CPA Firm, we perform a needs based assessment to determine the type of services that will best benefit them, and establish a fixed fee to accommodate for our services. Through specialization, deliberation, and lucrative measures, our firm will customize its services specifically to meet each client’s needs.

The ideal client is a business that is an emerging, small, or medium company with variable workloads. At times the client may require the expertise of a Miami Accountant, controller or CFO, but not on a full-time basis.  Our Miami CPA Firm is able to provide those services on a part-time, or as-needed basis at a lower cost than the client would traditionally pay to hire a full-time accounting staff to do. This benefits the client in that they can lower costs, increase profits, and can focus on the core competencies of their business, while maintaining an established relationship with a financial expert who is also looking to help their business grow.

Over the next three articles, I will outline the various levels of outsourced CFO services and describe how to successfully implement it to become one of the most prosperous aspects of your firm.

The next article will discuss the technology, training and infrastructure that our firm has begun to employ.  Subsequent articles will primarily focus on the various types of fee-based arrangements and how to determine the right type of working relationship to maintain with a client.

My goals are to give you an in-depth analysis of these arrangements, as well as exemplify how these services can be mutually beneficial to the client and the firm alike.

Categories
Tax

10 Questions to Ask Before Hiring a Tax Accountant

When it’s time to look for a tax accountant, you want one who not only can help save you money

A Tax Accountant can help avoid potential trouble with the IRS, but also can provide useful information for your business. “We tend to think of accountants as numbers people, but a good tax accountant does more than just figure the numbers,” says Gustavo A Viera CPA a Miami CPA.”A good accountant will communicate what the numbers mean to us.”

So shop around, interview tax accountant and figure out which one is the best fit for you and your business. Here are 10 key questions to help you make the decision:

1. What kinds of clients do you work with?

You want to make sure your tax accountant understands your type of business. A restaurant will have certain rules to follow for wages and tips, for instance, just as a construction business must deal with issues related to contract workers and a real estate development firm will have certain criteria about how income is reported. You need an accountant who has worked with other businesses like yours and knows the ins and outs of the industry.

2. Are you available year round?

Some accounting firms shut their doors after April 15 and only reopen for the following tax season. But when you’re running a small business, you’re going to need help all year, says Viera. “If something comes up, you don’t want to wait until tax season in order to get your issue addressed.”

3. What’s your experience with the IRS?

Often people will tell you it’s important to hire a certified public accountant rather than an EA, or enrolled agent, because CPAs have more comprehensive certification requirements. While CPAs are state-certified and have training in such areas as financial planning and bookkeeping, EAs are certified by the federal government specifically to handle taxes and are often former IRS agents with extensive experience dealing with audits. “They’ve been in the belly of the beast. They may have more inside knowledge of how the IRS really works,” Viera says. On the other hand, a CPA will likely have more experience with broader financial planning issues. Rather than focusing on certification, Viera says, focus on how your accountant’s experience is relevant to your business.

4. Who will be doing the work?

Accountants will often outsource work to a third party. This doesn’t mean their services are bad, but you want to be sure they are forthright about who is doing the work. If you want to talk with someone familiar with your bookkeeping and that’s a third party, it likely will be difficult to speak with him or her directly, Kerstetter says.

Related: For Help at Tax Time, a Matchmaker for Tax Accountant

5. Are you a conservative or more aggressive accountant?

Some accountants want to write off everything they possibly can, while others take a more conservative approach. It’s important to figure out where you fall on the spectrum and find an accountant who agrees with your philosophy, Lyon says. If accountants tell you they specialize in finding red flags that could trigger audits, they may be hesitant to maximize your deductions. For example, some accountants believe taking a home office deduction might be a red flag to the IRS, Lyon says.

6. How do you bill for your services?

Some accountants charge by the hour; others bill a flat rate. If you want to take a more hands-on approach to your bookkeeping, an hourly rate might be better because you won’t have as much continuous work for an accountant. Regardless of the billing approach, be sure to get an estimate of an accountant’s likely fees. Provide a copy of your previous year’s tax returns so the accountant can familiarize himself with your business before giving a quote.

7. How do you handle working with multiple entities?

If you have more than one entity under your name, be sure the person you hire can manage them simultaneously–a skill not all accountants possess. If you own rental property as an LLC and a retail store registered as a C-corporation, for example, you’ll need an tax accountant who can coordinate and track money moving between those entities, Viera says.

Related: Your Startup’s Top 3 Most Trusted Accounting Allies

8. What can you tell me about the medical expense reimbursement plan?

This question may seem technical, but not all accountants will know about this plan, which allows you to deduct your family’s medical expenses on your return, Viera says. If the accountant you’re speaking with is unfamiliar with such plans, you should be wary because that might be a red flag that he or she isn’t well versed in deductions that could save your business money.

9. What tax program do you use?

You shouldn’t choose accountants based on the tax program they use, but it’s a good detail to ask about. QuickBooks is commonly used for small businesses, which means your information would likely be easily transferred between different accountants, Viera says. Hiring a tax accountant who uses more obscure tax software won’t affect the quality of the work, but it might make it tricky to switch accountants.

10. How often will we communicate about tax issues?

Every tax accountant will be different when it comes to frequency of communication for tax planning purposes. Ask about a prospective accountant’s approach and be sure you’re satisfied with the degree of communication, Viera says. “You want to feel comfortable calling them with issues relating to your taxes.”

Categories
Accounting

A Bookkeeping Service May be a Perfect Match for You

If you’re detail-oriented, a lover of numbers, and honest to a fault, a Bookkeeping Service might be the perfect match for you.

The fact that so many people dislike doing bookkeeping is good news for anyone who enjoys the ins and outs of financial record keeping. Lacking time or inclination, entrepreneurs and growing businesses often need help with their financial housekeeping despite the availability of easy-to-use accounting software. Gustavo A Viera CPA who has a Bookkeeping Service division told us, “While doing business is getting more complex, people aren’t getting better at handling their money. Today virtually everybody needs some professional guidance.” Yet most small businesses can’t afford to hire or keep full-time bookkeepers.

Independent Bookkeeping Service are in demand even during economic downturns because businesses realize that if they aren’t careful about their money, they soon won’t be in business. As a result, bookkeeping can be a good business year in and year out. However in downtimes, you may have more competition, because some accountants need more business to keep busy and will seek to pick up Bookkeeping Service business.” Accountants are trained for small-business bookkeeping though but sometimes are apt to outsource the bookkeeping work they get.

To be successful, independent Bookkeeping Service need to be thorough, dependable and accurate as well as skilled in using accounting and sometime spreadsheet software. You must enjoy paying attention to details, and honesty and integrity are crucial. If you’d be tempted to go along with a client who asks you not to report or to hide income, it’s best to look for another business because you won’t last long in this one. A client who’ll ask you to use questionable practices may have no compunction about not paying your bill.

If you’ve already done financial or accounting work for an employer, you’re probably ready to take on clients on your own without special training. If you enjoy working with numbers but lack such a background, you can acquire the training you need to go into bookkeeping from a number of sources:

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Business Trends

Bookkeeping Services in Miami Adopt Intuit’s New Version Of QuickBooks For Professional Bookkeepers

Bookkeeping Services in Miami Adopt Intuit’s New Version Of QuickBooks

Intuit has released a new version of QuickBooks designed for Bookkeeping Services in Miami. QuickBooks Professional Bookkeeper 2012 includes all of the features available in QuickBooks Pro, plus offers multi-client tools and time-saving features. The small business management system is available starting exclusively as a downloadable product from Intuit’s website, with pricing set at $399.99. In addition to the QuickBooks line, Intuit makes a broad range of technologies for consumers, small businesses and tax and Bookkeeping Services Miami.

QuickBooks product manager Jacint Tumacder gave Miami Bookkeeping Services a preview of the system last week, and noted that the new edition was developed to provide these users with the unique tools and features they need.

“Bookkeeping Services often serve dozens or more small business clients, but generally don’t consider themselves full-service accountants,” he said. “They have multiple small business clients, but are more actively involved in those clients’ day-to-day transactions and operations than most accountants, and less involved with traditional write-up services or tax compliance issues.”

“There is a Miami Bookkeeping Services segment not served by other versions or other accounting solutions,” Tumacder added, noting that QuickBooks Professional Bookkeeper was designed to add needed features to the Pro version, which is more optimized for individual small business owners.

Among the most significant features is a new Bookkeeper Center, which provides a more streamlined homepage for Bookkeeping Services professionals. This screen provides a customizable menu of commonly-used tools, features and reports, while also displaying key business indicators for a particular client, such as account balances and reconciliation activities.

The system also includes a Multi-Instance function that allows Bookkeeping Services to open two client companies simultaneously, while the new QuickBooks File Manager helps ensure file accuracy, with all client data files, accountant’s copies and backups easily searchable, along with versioning controls to prevent working in older files.

Other functions included in QuickBooks Professional Bookkeeper have previously only been available in the Accountants version, such as the ability to quickly create a new business client by copying the chart of accounts and preferences for an existing similar client. Since many Bookkeeping Services specialize in serving particular industries, such as contractors, retailers, service professionals and other business categories, this feature can speed up entry tasks associated with creating new entities.

Likewise, the new Calendar View offers a convenient overview of invoice and billing dates, due dates and other scheduled tasks, while batch timesheet entry and invoicing is available for billing.

Intuit first offered QuickBooks as a DOS program in 1992. Since then, the system has evolved through each of the subsequent versions of Windows and is also offered in a version for Mac users. QuickBooks has also expanded into a broad product line that includes Pro, Basic, Premier and Enterprise options. The Premier editions are also available in industry-specific versions for contractors, non-profit organizations, retailers, professional services firms, manufacturing/wholesale and general businesses.

The most comprehensive version of the system is QuickBooks Accountant, which includes all of the industry-specific features in the Premier versions, along with extensive multi-client management functions, professional payroll capabilities, write-up and financial reporting tools.

Categories
Accounting

How to choose a Miami Accounting Service

How to choose a Miami Accounting Service

Many Miami Accounting Service have now gone so far as to dip their toes into the shallow end of cloud computing, and many more are thinking about testing the waters. Other Miami Accounting Service have jumped into the cloud with both feet. But whether you’re wading in or fully immersed, properly vetting your Miami Accountant is essential.

Recent studies have found that even though many Miami Accounting Service are concerned about the security of their data in the cloud, a minority of Miami Accounting Service perform a comprehensive review of their cloud service providers before sealing the deal. Those who do lack the skill set necessary to truly understand the impact of information provided to them. This makes it hard to separate the “wheat from the chaff” in the various cloud offerings.

“Despite some of the concerns, Miami Accounting Service acknowledge that only 29 percent of the companies in the study said they engage in a heavy or comprehensive review of the Miami Accounting Service security practices,”

Our chief concern right now is that we see a lot of new Miami Accounting Service who are coming into the scene with almost lax attitudes toward how they construct and deliver services.

Miami Accounting Service Gustavo A Viera CPA explains that these service providers tend to fall into two camps: Miami Bookkeeping Services at the SMB end of the spectrum that market themselves as providers of end-to-end solutions but are actually resellers, or Miami Accounting Service that are aware of the standards established by CPA’s long before the term CPA was coined.

Viera says organizations considering a Miami Accounting Service should look for three things:

Trust. “They’ve got to trust them,” he says. “That comes through an affinity. You have to like the Miami Accounting Service and the principles and the people you’re going to be working with. It’s a very intimate relationship. There’s got to be a mutual respect and trust to work together.”

Technical expertise and understanding. The Miami Accounting Service have to be proficient with both its technology and understand your business. “They have to have an understanding of what you’re looking to do and match that up with their technical expertise,” Viera says. “If you’re a CFO of a bank and you need to outsource some strategic element of your accounting, your MSP needs to understand both banks and whatever it is that you’re going to outsource.”

A third-party compliance audit. Miami Accounting Service need to be able to show that they can live up to the promises they’re making. “This is a world where you go through more scrutiny and ongoing regulation to cut hair than you do to manage a corporation’s sensitive data and that of your end users,” Viera says. While he doesn’t believe more government oversight would be helpful in the Miami Accounting Service space, he does believe organizations should verify their providers’ capabilities with an audit.

So what should you expect in an audit? The Florida Institute of Certified Public Accountants offers Uniform Standards for Miami Accountants. It looks for a Miami Accounting Service to comply with quality control objectives before issuing the accreditation.