Are bookkeeping services for small businesses costly?

Alfredo Gaxiola CPA in Houston

Bookkeeping is an important aspect for any business to maintain a record of their transactions. Bookkeeping and accounting enable a big or small business to get a look at the real financial position. If any company wants to understand their financial situation, including profit, loss, and revenues – bookkeeping is mandatory.

But small businesses can often get skeptical due to the cost of bookkeeping. They avoid hiring a bookkeeper due to the high costs that might be involved. But such is not the case. The cost of small business bookkeeping depends upon a lot of factors. Every business has a different size and scale, depending on which the cost is calculated.

What bookkeepers do for small businesses

Bookkeepers are accounting professionals who maintain your finances and transactions. They help small businesses with maintaining business transactions and create a complete record of everything. A professional bookkeeper provides the following services to small businesses:

  • Recording day-to-day transactions
  • Entering data into respective ledger accounts
  • Tracking every financial transaction
  • Making reports on the transactions
  • Creating and sending customer invoices
  • Preparing documents for audit and compliance
  • Ensuring timely payment of taxes

Bookkeepers are highly trained professionals. They need to be precise and accurate. They are crucial to understanding the financial situation of the company at any given point in time. Bookkeepers have the proper accounting knowledge as well – helping you with the taxation procedures and meeting the regulatory standards.

Factors that determine the cost of bookkeeping services

When you are looking for a reliable professional in small business bookkeeping, there are several factors to consider that will help you determine the cost. These factors include –

  • Company size. The size of the company also determines the size and volume of transactions. If your company size is big, there are high chances that you have to pay more for bookkeeping services. It will require more time to track and manage transactions.
  • Number of transactions. Another factor that a company providing bookkeeping services will consider is the number of transactions. The higher the number of transactions, the more it will cost because the bookkeeper has to allot more time to your company.
  • Financial activities. The number of financial activities also determines the cost of small business bookkeeping. The professional has to deal with invoices, credit card & debit cards, payroll, expenditure and income accounts. An increasing number of financial activities would lead to a high cost of bookkeeping.

Apart from these, factors like the frequency of bookkeeping and policies & procedures will also determine the cost of bookkeeping services for small business.

Source: accountingmississauga

Alfredo Gaxiola has worked on numerous IRS problem cases and has successfully settled with the IRS to release liens on houses, bank accounts and wages and, if needed, setting a payment installment plan that is not burdensome for the client. He has conducted appeals before the U.S. Tax Court and obtained favorable resolutions in reducing the tax debt of his clients. Mr. Gaxiola served as Treasurer of Camara de Empresarios Latinos, one of the largest and strongest Hispanic organizations in the city of Houston. He has conducted financial and accounting seminars for the Houston Small Business Development Corporation, as well.

Alfredo Gaxiola CPA in Houston

Certified Public Accountant in Houston, Alfredo Gaxiola CPA in Houston, Certified QuickBooks Proadvisor in Houston, QuickBooks Set Up and Training in Houston, Business Tax Return in Houston, Personal Tax Returns in Houston, Quarterly & Monthly Filings in Houston, Financial Statement Preparation in Houston, Consulting Services in Houston, Payroll Preparation in Houston, Bookkeeping Services in Houston, Bank Financing in Houston, IRS representation in Houston

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