Services That A Local Accountant In Aventura Are Able To Provide To A Business

For a small business owner, it often works out to be very costly to employ staff like full-time accountants and people to handle the payroll function

. For most of them it's more cost effective to outsource such functions to an Aventura accountant (CPA) in his immediate vicinity.

One service provided by virtually every accountant is that of maintaining your general accounting records up to trial balance level. This would include the cash book, general ledger, debtors journal and creditors journal. What you have to do is to hand them all the relevant invoices, receipts, wage registers and expense slips and they take it from there.

If your business is in the form of a partnership, you will have to give the accountant all the relevant information during your initial discussion. He has to know if certain expenses or income should be allocated on a percentage basis and whether profits or losses are shared equally. If you, as is the custom with many small businesses, channel certain private expenses through the business bank account, the accountant has to know about this, otherwise you are going to get into a lot of trouble with the revenue office sooner or later.

Another service often offered by accountants is that of handling your payroll. You simply provide them with the names of your employees, their bank details and the hours worked, and they will do all the necessary calculations and transfer the correct amount to each employee's bank account, as well as make the required payments to the tax office, the medical aid, pension fund et cetera. This will relieve your staff of a lot of routine work and you won't have to handle cash at your offices on payday.

Compiling and maintaining your assets register is a further service provided by most accountants. They will regularly check to make sure that all assets on the list are still physically present and that depreciation is written off on a basis acceptable to the tax office.

If you have an accountant maintaining your general ledger, you might as well use him to draw up your yearly financial statements and submit your VAT and tax returns. Together with the financial statements they can also draw up management reports, such as cash flow statements, sales summaries etc. So you have a better idea which part of your business is bringing in the most money and which part is costing you the most.

If you have accounting needs that are not discussed above, get in contact with your nearest Aventura accountant to discuss this. Most of the time he will be able to help you.

by: Bob Jones.

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