bookkeepers framingham

How Bookkeepers Simplify Business Operations

Bookkeepers Framingham

Bookkeepers Framingham

Framingham | Bookkeepers are as essential as any other aspect of your business. So, how do bookkeepers simplify daily business operations? We commonly hear this question from hesitant new business owners. Therefore, we have narrowed the main operational duties that bookkeepers perform. Read more below and contact us for more information.

bookkeepers framingham

Recording Daily Transactions

Bookkeepers record daily transactions to offer better understanding of your financial success. It also helps to minimize expenses by evaluating your monthly debits versus credits. In addition, daily recording tracks your revenue. You will know the exact available balance and prevent interruptions in cash flow.

Cash Flow Monitoring

Cash flow maintenance is crucial for any business to thrive, especially in competitive markets. An interruption could cause bounced checks and unpaid workers. Fortunately, bookkeepers monitor your cash flow to avoid these issues. Stay current on your cash flow by hiring a bookkeeper.

Accounts Receivable and Payable Management

Your cash flow depends on accounts receivable and payable maintenance. Of course, your bookkeeper has this covered too. These professionals are great at tracking money that is owed and assuring that accounts are paid on time. Having a bookkeeper truly benefits busy owners. In fact, bookkeepers can save you a lot of money. They are definitely worth it.

Learn more about bookkeepers!

Bookkeepers Framingham| Ash Wasilidas, CPA offers complimentary consultations for bookkeeping, accounting, tax planning, and more. Contact us today to learn how a professional bookkeeper will simplify your business. Our firm has over 20 years of experience and is A+ BBB rated. We even offer 2 months free of bookkeeping for new clients. Therefore, contact us directly at (617) 462-6651 or request an appointment online. You may also visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. Our team proudly serves Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, and Sudbury.

professional bookkeeper framingham

Handle Your Books Like a Professional Bookkeeper

Professional Bookkeeper Framingham MA

Professional Bookkeeper Framingham

Bookkeeping is the maintenance and documentation of financial records. It can be tedious to some but is necessary. As a result, we always recommend hiring a professional. An experienced bookkeeper efficiently handles your financial records and generates accurate reports for you and your accountant. Nonetheless, some business owners attempt to do their own bookkeeping. So, here are a few tips to help.

Professional Bookkeeper Framingham

Automate Data

Online software has made bookkeeping easier to manage. Owners can now connect with their online banking accounts to document transactions and easily invoice clients. We recommend using a cloud-based software, such as QuickBooks, to ensure accuracy and confidentiality. In addition, owners will always have access to their bookkeeping account – especially for those on-the-go.

Track Time

Track your employees work schedule with tracking tools, like TSheets. This amazing software and app allows you to manage the work schedule and see when and where your employees are working. I recommend this tool for everyone. Whether your employees are normally scheduled to be in an office or visiting clients, TSheets makes logging hours easy and accessible. TSheets is also powered by QuickBooks. And so, processing payroll on your own is easily done if you also use QuickBooks. The best part of TSheets is the affordability and GPS tracking feature. You can learn more about it here.

Document Expenses

We recommend documenting expenses daily to avoid losing receipts or forgetting to do so. An easy way to document is to use a business debit or credit card and an app that scans receipts. Modern technology has truly simplified a lot. Therefore, take advantage of apps that scan and log receipts for you. Better yet, use a bookkeeping cloud-based software that offers this feature. It allows you to stay current on documenting expenses and syncs the information to one location.

Contact Us

Professional Bookkeeper Framingham

Ash Wasillidas, CPA offers complimentary consultations for bookkeeping, accounting, and tax preparation. Schedule yours today to learn how to save money and maximize your profits. Call (617) 462-6651 or request an appointment online. You may also visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. Our team proudly serves Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, and Sudbury.

bookkeeping

3 Easy Bookkeeping Tips for Small Business Owners

Bookkeeping should always be left to a professional. But depending on the structure of your business, it could be possible to tackle it yourself. Those with minimal expenses and a couple of clients can dedicate 5 to 10 hours a week maintaining their own financial records. Always weigh your options. Nonetheless, learn more about bookkeeping with these 3 tips.

bookkeepingUse a digital payroll system.

Many small business owners have a few employees. And to some, paper checks or cash are the go-to method for paying their employees. However, we advise against doing so. Owners need to consider tax deduction calculations and maintain a paper trail for accounting purposes. For example, incorrect calculations and forgetting to deduct the pay from your registrar could cause a negative impact.

As a result, we suggest investing in a digital payroll system. Digital payroll systems offer you a piece of mind. They calculate appropriate taxes and offer direct deposit for your employees. In addition, the paper trail is always accessible. Leading into the next tip, many bookkeeping softwares offer payroll.

Use a cloud bookkeeping software.

Modern technology has made bookkeeping simple. Business owners can invest in bookkeeping software which automates much of the tasks. For example, the software links to your business accounts to assist with claiming expenses and reconciling. QuickBooks is one of the more popular softwares. Most business and professional bookkeepers utilize it.

Hire an accountant.

All business owners need an accountant. The guidance they offer help your business grow and keeps you on track of your goals. An accountant offers advice on structuring your business, avoiding expenses, maximizing profits, filing taxes, and so much more. It is always recommended to hire an accountant at the start of any new business. He or she will guide you on the path to success to avoid costly mistakes, especially with bookkeeping.

Contact Ash CPA for Bookkeeping and Accounting Services

Speak to our team today. We have over 20 years of experience and offer complimentary consultations. In fact, Ash Wasilidas, CPA has assisted many business owners with their bookkeeping and accounting needs. Learn how your business can grow with us. Call (617) 462-6651 or request an appointment online. Also, visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. We proudly serve Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, and Sudbury.

bookkeepers

3 Interesting Ways Bookkeepers Benefit Business Owners

Bookkeepers

Many business owners view bookkeepers as a tool that improves cash flow while documenting transactions. By definition, this is true. But, did you know that having a bookkeeper provides you with more than just that? In fact, there are 3 interesting ways a bookkeeper benefits business owners. How so? Learn more below.

bookkeepers

Less Stress

Business owners have many responsibilities. Their daily tasks include acquiring and retaining clients while assuring that operations are running smoothly. Why include numbers into the mix? Entrepreneurs can easily spend more than 40 hours a week attempting to maintain their own bookkeeping. Instead, reduce your stress by hiring a professional.

Improved Work-Life Balance

Less stress is great especially when you also improve your work-life balance with a bookkeeper. Hiring a bookkeeper allows owners to spend more time enjoying life. They can better manage their work-related tasks to allow for more days off and vacation days. You’ve worked hard to build your business. Enjoy more time with family and friends.

A Different Business Perspective

A second set of eyes offer a clearer understanding of your business. Bookkeepers create accurate monthly reports to show how the revenue compares to profit and loss. For example, a business owner may believe thier decisions are increasing revenue but reports show otherwise. In other words, hire a bookkeeper and understand exactly how the business is operating.

Contact Us Today

Ash CPA offers tailored bookkeeping for business of all sizes and budgets. Whether you have a startup idea or multiple established businesses, speak to our team. We have over 20 years of experience and offer additional services such as accounting and tax preparation. Interested entrepreneurs may schedule a complimentary consultation. Dial (617) 462-6651 or book an appointment online. We are conveniently located at 945 Concord Street, Suite 100 Framingham, MA 01701. Ash CPA proudly serves Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, Sudbury, and more!

 

professional bookkeeper

How to Find a Professional Bookkeeper: 3 Easy Tips

Professional Bookkeeper

Professional bookkeepers are a great business tool. They allow business owners to focus on other priorities while maintaining financial records. So, how can a business owner find a professional bookkeeper? We’ve narrowed 3 easy tips to help. Read more below and be sure to contact us for more information.

professional bookkeeper

Acknowledge that You Need a Bookkeeper

Understanding the need for a bookkeeper sets the foundation of finding the right one. Many business owners attempt to reduce expenses by maintaining their own bookkeeping. However, we always advise against it. Bookkeeping is tedious and requires discipline with an eye for detail. In other words, it is time consuming and needs to be completed routinely and accurately. Those that attempt to tackle it on their own usually spend more time researching discrepancies or waiting until the workload piles up. Instead, save yourself time and acknowledge that a professional bookkeeper is worth investing in.

Set Your Standards High

Your business is valuable. Therefore, your bookkeeper should be an asset that coincides with your long term goals. Ask these questions when you begin your search.

  • How much experience should he or she have?
  • Who are their current clients?
  • How long have they’ve been in business?

To best explain, selecting a professional bookkeeper is like finding a new business partner. So, be picky.

Interview

Take advantage of consultations. These meetings are your opportunity to discuss your business needs and learn how a potential bookkeeper can help. Therefore, apply tips 1 and 2 here. Then, see if the candidate meets your business needs and high standards. Are they up for the challenge? And, will they represent your business well?

Get More Information

Ash CPA Accounting and Tax Services has over 20 years of experience and offers business bookkeeping. Schedule a complimentary consultation today. New clients will also enjoy 2 months free of bookkeeping. Learn more about this offer by contacting us. Call (617) 462-6651 or request an appointment online. Also, visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. We proudly serve business owners in Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, Sudbury, and more!

 

Framingham Bookkeeper

3 Reasons to Hire a Bookkeeper

Framingham Bookkeeper

A Framingham bookkeeper is one of your most important business asset. He or she provides financial record maintenance to assure all of your transactions are documented. Bookkeepers also provide accurate financial information such as current funds availability for cash flow. Do you have a bookkeeper? If not, learn 3 reasons why you should hire one today!

Framingham Bookkeeper

Convenience

Business owners are already faced with a lot of responsibilities. Counting numbers and researching transactions should not be one of them. Your time is valuable. Therefore, hire a bookkeeper to maintain your business financial records. Many bookkeepers are flexible. The best ones will evaluate your business needs and recommend a plan that benefits you the most. Bookkeeping can be done weekly, biweekly, monthly, or quarterly. In addition, these options can offer unique payment plans to function with any budget.

Accurate and Organized Financial Statements

Every business owner needs accurate and organized financial statements. You never know when an opportunity emerges such as a potential partnership or if the IRS is requiring an audit. Therefore, accurate financial record keeping is non-negotiable. Bookkeepers are notorious for maintaining accurate financial statements and organizing them for safe keeping. So, hire one! Also, tax preparation and filing will be easier with a bookkeeper.

Professionalism

The best bookkeepers are noticeably professional and understand they represent your business. They invest in the latest software to maintain your records with high security to avoid confidential breaches. When hiring a bookkeeper, consider their experience, use of software, and training. A professional bookkeeper will not only exceed in maintaining your business finances but they will also provide a sense of security.

Learn More

Framingham Bookkeeper | Hire a professional Framingham bookkeeper today. Call Ash CPA Accounting and Tax Services at (617) 462-6651 or request an appointment online. Our firm offers complimentary consultations. Visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. We proudly serve business owners in Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, Sudbury, and more!

 

bookkeeper Framingham MA

Top 3 Responsibilities of a Bookkeeper

Framingham MA Bookkeeper

Framingham MA Bookkeeper | You’ve most likely heard that a bookkeeper is essential for any business – small or large. But with that said, how do bookkeepers benefit your business? Great question! In general, bookkeepers are trained to maintain business financial records. A bookkeeper’s role could vary between businesses. However, here are the top 3 responsibilities of a bookkeeper.

Framingham MA bookkeeper

Bank Reconciliation

Bank reconciliation involves comparing internal financial records with your business’s bank account statements. In other words, this task allows business owners to identify unusual transactions and avoid fraud. See examples below.

  • Duplicated or altered checks
  • Unauthorized checks
  • Unauthorized bank transfers or withdrawals
  • Missing or incorrect deposits

Bank reconciliation also helps business owners to know exactly how much money is available. For example, there may be checks that have not reflected on the bank account yet. However, your bookkeeper is aware and is able to provide an accurate available balance. Proper bank reconciliation helps avoid the following:

  • Bounced checks
  • Bank fees for having low daily balances, overdrafts, credit transfers, etc.
  • Bank errors

Depending on your business needs, a bookkeeper will suggest if the business should reconcile weekly, bi-weekly, monthly, or quarterly.

 

Accounts Receivable and Payable

Accounts receivable is money that a business is expected to receive from a customer who has been provided with a product or service. The bookkeeper is responsible of tracking the account receivable of each customer. This could include creating and delivering invoices, providing statements, collecting and recording payments. On the other hand, accounts payable is the money that your business owes to vendors, utility companies, etc. Your bookkeeper will likely pay and record payments, issue stop-payments, amend purchase orders, and more.

 

Payroll

Payroll responsibilities will depend on your business need. However, bookkeepers have the ability of entering payroll data into an accounting system, process paychecks, and so forth. You may or may not need this service if you already have a payroll company. Nevertheless, you may want to consider having your bookkeeper manage payroll to save money.

 

Learn More

Framingham MA Bookkeeper | Overall, professional bookkeeping should be tailored around your business needs. Learn how bookkeeping will benefit your company today! Call Ash CPA Accounting and Tax Services at (617) 462-6651 or request an appointment online. Our firm offers free consultations and has two convenient locations in Massachusetts. Visit us at 1033 Providence Rd, Suite 4 Whitinsville, MA 01588 or at 945 Concord Street, Suite 100 Framingham, MA 01701.

Bookkeeper Framingham MA

The Differences Between a Business Bookkeeper and Accountant

Bookkeeper Framingham MA

Bookkeeper Framingham MA | Businesses of all sizes need to properly manage their financial records. Although many business owners attempt to maintain their own records, the task can be overwhelming. Hence, the reason why I always recommend to hire a business bookkeeper and accountant. But why both? Well, they serve two important roles that work simultaneously. Learn more below.

Bookkeeper Framingham MA

What is a business bookkeeper and what do they do?

A business bookkeeper actively records your data while organizing it. In essence, bookkeepers enter financial transactions into a journal. This may include sales, expenses, payments, and so forth. In addition, they reconcile bank accounts, manage payroll, compile general ledgers, generate reports and financial statements. Overall, a business bookkeeper handles daily transactions to provide an accurate financial interpretation of the business.

What is an accountant and what do they do?

An accountant uses the information gathered by the bookkeeper to guide your business decisions. In other words, they assist in interpreting the reports and how that information is affected by regulations, industry trends, and more. They are also recommended for preparing and filing business tax returns. Accountants will also guide startup business owners to properly incorporate and set up financial solutions for ultimate success.

When should I consider a business bookkeeper and accountant?

A bookkeeper and accountant should be working alongside your business from the very beginning. This offers the best chance of success and tax saving benefits. Remember, bookkeepers keep your business finances organized and accurate. While, the accountant guides your business decisions based off the information gathered by the bookkeeper.

Learn more today.

Bookkeeper Framingham MA | Ash CPA Accounting and Tax Services offers free consultations. Learn more on how your business will thrive with a bookkeeper and accountant. Call (617) 462-6651 or request an appointment online. Our firm has two convenient locations in Massachusetts. Visit us at 1033 Providence Rd, Suite 4 Whitinsville, MA 01588 or at 945 Concord Street, Suite 100 Framingham, MA 01701.

 

4 Steps to Start Your Business: Business Startup Plan

Business Startup Plan Framingham MA | Whitinsville MA

A business startup plan is essential for success. Your idea has the potential for growth if the most effective plan is executed. Plans allow entrepreneurs to have a more organized outlook and it increases the chance for higher profits. A professional consultation from a CPA is always best. But, definitely consider these 4 steps as you begin to build your business.

Write it out.

Write a business plan that simplifies your idea while maintaining low expenses. A great tip is to test your idea first. You will be able to determine what works and what does not before investing more time and money. Once you have a clearer understanding of how your business will work most efficiently, write the plan.

Your plan is basically an overview and should include the following:

  • Vision: The end result
  • Mission: Reason why the company exists
  • Objective: What are the goals to accomplish the mission and vision?
  • Outline Strategies: What steps will the company partake in to achieve the objectives?
  • Action Plan: Create individual action plans to achieve the objectives. Hint, this section is more specific than the previous one.

What is the budget?

Your budget will be very important. You will need to choose one that is realistic and stay within it. Figure out how much the business will need and add an additional 20% for unexpected expenses. That will provide some wiggle room, just in case. Your budget amount should cover 6 months worth of expenses. This amount allows you to have a steady cash flow while the business begins to generate its own revenue.

Name it and select the best entity.

Choose a business name and entity that increases your profits while minimizing tax obligations. Sounds complicated? Don’t worry. Start by naming the business something unique. Be different than the competition. Next, research different entities like corporation, LLC, and DBA. These entities offer different advantages and disadvantages. I highly recommend hiring a CPA to best guide you. The CPA will determine which entity offers you the best tax saving advantages. In the meantime, learn more about incorporating a business here.

Separate the funds.

Once you have your entity, open a business banking account. Maintain your funds separate to avoid issues with taxes. Mixing personal and business expenses will create havoc during tax season. And similar to the previous step, you will want to hire a CPA to maintain your business financial records. You will have a lot on your plate and handling numbers should be left to a professional. A CPA will also come in handy during tax season. He or she will prepare your business taxes accurately and quickly since the financial records have been professionally maintained all year.

These steps are just the tip of the iceberg for a business startup plan. Contact Ash CPA Accounting and Tax Services to schedule a consultation today. Call (617) 462-6651 or request an appointment online. Our firm will further discuss your business plan and recommend the best options for your success. Ash CPA Accounting and Tax Services has two convenient locations in Massachusetts. Visit the firm at 1033 Providence Rd, Suite 4 Whitinsville, MA 01588 or at 945 Concord Street, Suite 100 Framingham, MA 01701.

Incorporate Business MA | Corporation, LLC, or DBA?

Incorporate Business MA | Corporation, LLC, or DBA?

Incorporate Business MA | Corporation, LLC, DBA may seem complicated for anyone starting a business. They are all great options but for tax savings and asset protection, one may be better. So, which one do you choose? We’ve simplified the differences and highlighted the pros and cons below. Learn more now. Then, contact us to get started.

What is a Corporation?

In general, a corporation is a separate legal entity that owns the business, assets, and property. So, who owns the corporation? Shareholders do. The greatest advantage of having a corporation is that shareholders are not responsible of the business’s debt. Now, how should your corporation be taxed – C corp or S corp?

C Corporation

A C corporation is standard. One of the main differences between a C corp and S corp is the taxation process. A C corp can be affected by double taxation if its income is given to business owners as dividends. The IRS views this as personal income. Therefore, the owners may need to pay individual taxes.

S Corporation

An S corporation reports its profits and losses to the IRS. However, taxes owed are passed down to the owners as an individual tax return.

Another difference between C corps and S corps are ownership restrictions. C corporations do not have a limit of shareholders. Whereas, S corps cannot exceed 100 and the shareholders must be American citizens or residents. S corporations are also limited to one class of stock. Meanwhile, C corporations are allowed to have multiple. Depending on your plans of growth, a C corporation may be a better option.

What is a Limited Liability Corporation (LLC)?

Similar to an S corporation, an LLC’s taxes are paid through the owners. LLCs also offer owners personal limited liability protection. This protects owners from business debts and other related liabilities. More benefits for having an LLC include the following.

  • Distribute profits among owners
  • Little to no ownership limitations
  • Less required paperwork compared to corporations
  • Adding additional owners require a written consent from existing owners

 

What is a Sole Proprietorship/Partnership/DBA?

A sole proprietorship is a business owned by one person. If owned by more people, it is known as a partnership. You may want to choose a fictitious name, or DBA, to conduct business transactions without using your actual name. Another reason to consider the DBA is that most banks require it when opening a business account. Also, many vendors and consumers prefer the DBA before conducting transactions. The benefit of this business type is how easy it is to begin and manage compared to the other options. However, the owner or owners could be held responsible of any business related debt.

Let’s narrow your options today!

Incorporate Business MA | We hope this blog offered insight but there is a lot more to understand about filing your business. Let’s talk. Ash Wasillidas CPA offers business consulting to discover the best options that protect your assets while offering tax saving benefits. Contact Ash CPA Accounting and Tax Services to schedule a consultation today. Call (617) 462-6651 or request an appointment online. Ash CPA Accounting and Tax Services has two convenient locations in Massachusetts. Visit the firm today at 1033 Providence Rd, Suite 4 Whitinsville, MA 01588 or at 945 Concord Street, Suite 100 Framingham, MA 01701.