Meet Tom. Tom is a plumber who is ready to set out on his own. He knows a lot about pipes and plumbing, but knows nothing about accounting. Although Tom would call himself a do-it-yourselfer he has no interest in reconciling bank accounts and he knows nothing about tax estimates or sales tax payments. He simply wants to get paid for his work and hopefully, if business if good enough, in a few years he will be able to hire a few employees.
Tom & Travis meet for a free initial consultation. After talking with Travis, Tom decides to establish an arrangement where Integrated Accounting Solutions (IAS) handles the monthly bookwork and produces quarterly financial statements.
Tom takes IAS’s advice and sets up a separate business checking account. He agrees to mail his receipts and bank statements to IAS on a monthly basis so his books are organized and reconciled. Tom will manage his own invoices and ensure that he gets paid for the work he has done. Procedures are established for business mileage, quarterly tax payments, and a plan for owner’s withdrawals to make sure the business stays healthy and Tom has money to live on. Tom agrees to talk to his accountant monthly for the first six months about how the business is doing with cash flow.
Tom walks away feeling relieved. Now he can focus on plumbing and in his office time focus on invoicing and writing estimates, which equates to getting paid and creating more work. When the time is right and he hires his 1st employee he knows he will be well positioned to take his business to the next level. Tom is also pleased that the cost for these accounting services is very reasonable and much lower than he originally expected. Travis estimated the monthly fee for these professional services will only be $100 - $200.
No matter the size of the business bookkeeping is a necessary part.
Keeping accurate books is essential, but isn't something all business owners are good or interested in.
From payroll to receipt entry Integrated Accounting Solutions has scale-able packages to meet your needs.
Meet Rebecca. Rebecca owns a retail store that has really taken off lately. Rebecca was a business major in college and understands the nuts and bolts of running a business. She uses QuickBooks, but realizes that her time could be better spent meeting with vendors, planning displays and talking with customers rather than being locked away in her office. Before deciding if she should hire another employee to train on her business procedures Rebecca gives her CPA tax preparer a call.
Rebecca & Travis meet for a free initial consultation. After talking they decide that Rebecca should divide the accounting into 2 separate roles. IAS agrees to run payroll, balance the bank statements, review/clean-up the general ledger accounts and prepare monthly financial statements while Rebecca simply expands the role of an existing employee to serve as a part-time bookkeeper to enter data and handle basic bookkeeping tasks.
Setting up this checks and balances system frees up time for Rebecca, keeps her costs down and keeps confidential information like payroll and the bank balances private. Travis estimates the monthly fee for these professional services for Rebecca to be in the range of $250 - $300, much less than Rebecca’s initial perception.
Meet Jaclyn. She’s the Office Manager of a medium sized, service oriented business. She oversees 20 full time employees, one of which just resigned after only 3 months on the job. Rather than jumping right into hiring a replacement Jaclyn is taking a different approach and is toying with the idea of outsourcing the bookwork/ payroll tasks. Her company’s 401k administrator, Financial Resource Advisors, referred her to Integrated Accounting Solutions for a quote before she decides to hire or not.
Jaclyn’s initial consult with Travis confirms what her gut was telling her, that by outsourcing rather than hiring, she saves the business Medicare tax, social security tax and an annual salary. Although IAS’s hourly rate is higher than she would pay an in house employee, she only pays IAS for the hours that are worked on her accounts. Jaclyn eliminates the need to hire, train and mange another employee and she eliminates the need to provide space, computer and office supplies for that position. Furthermore, she taps into IAS’s expertise; assured that they will be able to efficiently complete the tasks she needs done (i.e. payroll, account payable and receivable, and budgeting).
Travis estimates $1,000-$1,500/month to be Jaclyn’s full service accountant/bookkeeper. As she walked out Travis also reminded her that come tax time he will already have all of the documents to prepare the company’s corporate tax return, so her fee to do that will be reduced. This was just another confirmation to Jaclyn that her decision to patronize a fellow local business would save her money.
Accuracy and 100% customer satisfaction are our top priorities.