What Type Of Service Is Included In Small Business Accounting?
Small Business Accounting Services | Numerico
As a small business owner, you probably try to do as much for yourself as possible to save money. However, when it comes to small business accounting, it is better to leave it to the professionals. The nuances of small business accounting can become easily overlooked, and minor errors or failures in compliance can spell disaster.
So, what type of service is included in small business accounting? From accountants for small business owners to a comprehensive business plan to help you grow strategically, Numerico PC is ready to help meet your needs.
One of the essential jobs that accountants for small business ventures have includes assisting you in managing and recording business financial statements, otherwise known as bookkeeping. Bookkeepers at Numerico PC offer a variety of services to small business owners, including:
- Accounts payable and receivable
- Processing sales tax
- Inventory management
- Cash flow management
- Managing the balance sheet, ledger, and income statements
Setting up a recordkeeping system is essential when starting a small business. Numerico’s bookkeepers can help with this step in addition to streamlining your books even if you’ve been in business for years.
Preparation and Filing of Business Tax Returns
Preparing and filing small business tax returns remains one of the most important jobs of a small business accountant. Preparing these returns is not easy, but a licensed accountant with experience handling small business returns saves you time and money on this complicated necessity.
Our team goes through significant education and training to analyze your financial records and calculate deductions, reduce errors, and save you time and money. They also have the confidence and licensure to handle the IRS if an issue does arise with your taxes.
Consulting on Various Business Matters
Running a small business often comes with complications, and having the right team on your side from the beginning makes a crucial first step. At Numerico, we help with every aspect of your small business, from talent development and turnaround to wealth management and even restructuring.
There is always room for improvement in the process and operations of a small business. Numerico looks for ways to increase your business’s profitability, make everything run more efficiently, and boost your market share.
Even the most challenging calls for a business lie within our scope. From evaluating your business’s health to restructuring, our small business accounting experts are here for you, lending their support and expertise.
Financial Statement Preparation
Beginning with the bookkeeping records, your Numerico small business accountant will pull together all the data of your company’s financial activities to create a financial statement. The financial statement forms a vital part of any business plan, providing the current financial landscape for the company and forecasting future economic growth and development.
Financial statements are crucial for your business, especially when obtaining loans from a bank or attracting potential investors. A financial statement will include the balance sheet, income sheet, and a cash flow statement.
Assistance With Budgeting and Forecasting
In the simplest terms, budgeting estimates your small business expenses and revenue during a given period. Forecasting involves analysis and observation of the business and predicting future growth.
Numerico uses your bookkeeping and financial statements to calculate your business’s budget and forecast the potential for growth based on the company’s financial information and the business world at large.
Using this data, we help you cope with changing trends and economic issues, monitor the budget and make changes as needed to keep your business running as smoothly as possible.
Additional Accounting Services
In addition to our small business accounting services, Numerico PC provides advisory and management services to small businesses. We can help you preserve your business for your family through succession planning.
Does your business operate in more than one state? Our team at Numerico can help with multi-state tax compliance. We can help you navigate through the process to make sure everything is filed properly.
We can also help you take the first steps with your new business idea, from creating a business plan, getting licenses, and filing taxes to the whole process of running a business and managing taxes and finances. We can even assist with stimulating your company for further growth, helping you get the most for your money and generate the best return on all levels.
Certified Public Accountant in Michigan | Numerico
We hope we answered the question, “What type of service is included in small business accounting?” If you need small business accounting services, Numerico can help you with every aspect of small business finances.
With clients in Livonia, Canton, Plymouth, Ann Arbor, and the surrounding Michigan communities, Numerico PC is here to provide you with the accounting systems and support your business needs. Contact us to discuss our Michigan CPA services by calling (313) 278-8030 today!