Accounting & Bookkeeping
At the core of every successful business is a solid system of financial management. Whether you’re purchasing inventory, negotiating sales, or paying your employees, you need to have the right figures at hand to ensure the best outcomes. But keeping track of your income, assets, debts, and expenses can be a difficult task that only becomes more complicated as your organization grows. Without the right expertise in place, you could quickly find yourself overwhelmed by the demands of day-to-day bookkeeping.
Why You Need to Outsource Bookkeeping
- 82% of small businesses fail due to poor cash flow management.
- 60% of small business owners admit that they lack the necessary accounting and finance knowledge.
- More than 50% of small businesses have a dedicated professional overseeing their accounts.
- 70% of small businesses outsource key financial functions such as tax preparation and payroll.
At A2Z our virtual bookkeeping assistants bring all the experience and expertise of a full-time financial controller at a fraction of the cost. Our outsourced bookkeeping services are designed to integrate seamlessly into your operations and provide you with the critical support you need to push your business forward. We leverage the latest in cloud-accounting software to streamline and automate your transaction processing, financial reporting and document management. The result is a highly scalable suite of support services that can truly push your business forward in the long-term.
Our virtual bookkeepers can assist you in a range of key areas including:
Have Your "Books" Been Collecting Dust?
- Accounts Payable Management – Your outsourced bookkeeper can help you monitor daily inventory requirements and maintain optimal supplier relationships in the process. We can set up a system to record stock levels and invoices directly into our database. From here, your virtual assistant will scan your financial documents for validity. They will then reconcile these statements against stock levels to ensure that all goods received are authorized and accounted for. Finally, they will set up payment runs based on when invoices fall due, we will also look to take advantage of early payment discounts wherever possible.
- Accounts Receivables Management – Your virtual assistant will take over key tasks such as bill preparation and disbursement, ledger reconciliations, credit authorization and monitoring aged receivables. With our accounts receivable management services you can stay on top of outstanding debts, and defaulted payments. If you’re facing costly delays in your payment period then our detailed reports can help you redesign your collection processes, and trigger recovery procedures in a far more efficient way.
- Payroll Processing – Your virtual bookkeeper will use online time-tracking applications to time prepare accurate timesheets for each employee at the click of a button. From here they will make necessary adjustments for overtime, bonuses, and appropriate deductions for taxes and insurance. This helps you ensure timely, accurate and tax-compliant payroll payments at all times.
- Tax Preparation – Your virtual bookkeeper can help you compile necessary financial documents in anticipation of quarterly and annual tax filings. They can also offer more detailed tax assistance based on your specific industry and location. If you’re looking to get your books in order before talking to an accountant then we can help you research deductions and minimize the risk of late filing penalties or future audits.
- Accounts Payable
- Accounts Receivable
- Reconciliations (Bank, CC, Paypal, etc.)
- General Journal Entries
- Job Costing
- Sales Tax Reporting
- Chart of Accounts Maintenance
- Report Preparation
- 1099/W2 Preparation & Management
- Payroll Processing
- Quarterly Payroll Reporting
- Federal Unemployment Tax Reports
- State Payroll Tax Reports
- State Unemployment Tax Reports
- State Workers Compensation
- Employee Timesheet Management
- Billable Time Analysis