Tuesday, 28 March 2017

Types of Bookkeeping Services and its Cost

In a world of innovation and customization, “one size fits all” solution is simply not an option. A small operation or business shouldn’t hire ten accountants to manage low volume sales.  Nor should a massive volume company rely on two accountants for the job.


With that being said, here at Axiom`s accounting services, we are implementing highly customizable systems. So in this article, we’re going to mention the different types of bookkeeping services we offer and their pricing scheme.


  1. Monthly Bookkeeping Services

This is straight up handling of books and all the tax filings. This is suitable for most businesses without too much of a hassle. It’s common that some would offer weekly, quarterly, and yearly detailed breakdowns of expenditures and profit. Such detailed analysis is incredibly useful in getting an overview of what’s happening to your money.


The monthly plan is such a collective service that it normally includes:

  • Monitoring of bank accounts for legitimate and fraudulent transactions.
  • Creation of essential financial documents.
  • Planning for and analysis of tax burdens.
  • Alerts for overdrawn accounts.
  • Alerts for suspicious transactions.
  • Creation and implementation of a budget.



  1. Tax Preparation Services

Tax preparing is a raging season of looking at complex files and trying to mind missing ones. Guessing which ones you can cross off as a business expense and which ones you have to pay a tax for. Our tax preparation service sorts through all your tax documents and receipts then prepare a proper and accurate tax return. Needless to say, we keep the new laws issued and updates on the current year’s tax laws to cultivate the best outcome possible. If you’re looking for someone to fill out short forms or allowing for multiple deductions, this kind of bookkeeping service is very common and vital to getting things done right.


  1. Payroll Bookkeeping services

Having a lot of people to take the load off your hands may sound like a “good idea at the time” but when that time of the month comes where you have to take out your checkbook and issue the payment, it’s not so fun now is it? It’s a seriously hard challenge to build and maintain a proper payroll. If our payroll is not correctly and most importantly, don’t on a time essential manner, you’re going to have some “not very happy” employees. There are many laws that protect employee’s payroll, and if you violate any of them, then you’re at fault for that. And there will be some heavy fines to pay for such actions.


  1. Financial Services

Financial statements are everything related to your money. From your income statements to your balance sheets, cash flow statements and the owners and shareholders equity. The reason you’d get such financial services, it’s a simple way to look at your numbers. All your business financials past, present, and future.


  1. Accounts Receivable & Accountants Payable

Even though large companies can afford a fully-fledged staff to manage their accounts instead of the need to outsource it. They tend not to; it always results in money left on the table. An outsourced staff is working for results, while an employed staff is working to show up day today to collect the paycheck.

It also helps in keeping track of the date of your funds. Like whom you may owe funds to and where is our money held up. While it’s tempting to have a team in-house so you can go scream at them and blame them for everything that goes wrong, this will inevitably damage your credit scores. In a worst case scenario, you forget to pay the IRS, or you miss paying them for a portion of your income. What it could result is massive penalties or even jail time in some cases.


  1. Bank Reconciliation

This is a fancy term for checkbook balancing. This is massively useful for business that witnesses a difference between bank statements and personal records. Having a proper bank reconciliation can help you make an informed decision on which statements are wrong.


Every business has two dreams, one is the success, and the other is automating legal and finance. They never want to hear about taxes or legal papers need to be filed. They simply want to do what they started the business for. And bookkeeping outsourcing is as close to automating your finance as it gets.


Offering all sorts of custom made plans for your business, axiom bpm has enough man power take over the finance of any business. From a small company generating 200k, all the way to an empire netting 20 million. And all our plans are customizable and can be made to suit your business. You can scale up or down your operation on an a

source https://www.axiombpm.com/types-of-bookkeeping-services-and-its-cost/

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