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Well...You are
at the right place....!
You will find valuable accounting solutions and new cost effective ideas for
your small business.
GLOBALIZATION
In 21st century, fast growing globalization introduced a new concept - "Outsourcing"
- A smart and cost effective decision to use outside firms to handle business support tasks normally performed within
a company. Regardless of the type and size of business, outsourcing is quickly emerging
as the key to becoming a high performing organization.
Today, in big corporations, mid-sized companies and small businesses, the volume
of outsourcing of business support services is rapidly growing because of (1) high quality End Results, (2) huge cost savings
and (3) maximum time savings.
OUTSOURCING AND SMALL BUSINESSES
Small business owners have limited resources for business operations. So, for small
business owners, outsourcing services - bookkeeping, accounting, payroll, tax preparation etc. could be a powerful and
cost effective management tool to achieve high profitability. The decision to use outside firms to handle the work normally
performed within a company (outsourcing) will provide a number of benefits to small business owners:
l Huge
Cost Reduction
l Marginal
Office Space Reduction
l Focus
on Core Business Operations
l High
Quality Professional Management
l Reduction of Operating Risks
l Worry
Free Business Operations
BUSINESS INTELLIGENCE: CHOOSING AN OUTSOURCING
FIRM
Choosing an outsourcing firm is a very critical decision
involving a business operating risk. To stay way from "Headache" and "Mis-Source" of your business operations, it is important
to make sure that the outsourcing firm MUST have TEN qualities and values: Accountability (In depth Knowledge and Experience),
Confidentiality, Honesty, Integrity, Fairness, Responsibility, Excellence, Promise Keeping, Loyalty, Professional Ethics.
INTRODUCTION:
OUTSOURCING OF ACCOUNTING-BOOKKEEPING-PAYROLL
TASKS
MEHTA ACCOUNTING SERVICES provides year round professional
bookkeeping-accounting services and complete payroll services in Washington DC metro area (DC, VA, MD). In addition to cost
savings, Mehta Accounting Services also helps small businesses stopping financial losses in many ways - IRS Penalties and
Interest for late filings of tax returns, employee frauds, Credit Card frauds, vendors/ customers frauds and missing tax deductions.
As mentioned earlier, choosing the right outsourcing
firm is challenging. You want a firm that has industry experience, in depth knowledge, innovative ideas, professional approach
and of course - an affordable price. Please navigate to all pages of this web site and learn how MEHTA ACCOUNTING SERVICES can
be beneficial to your business.
KEY
POINTS
l Why Record Keeping is important and Necessary?
As per IRS publication 583 - Keeping
Records,
EVEYONE IN BUSINESS MUST KEEP RECORDS.
l To
monitor the progress of the business
l To
identify source of receipts
l To
keep track of deductible expenses
l To
prepare tax returns
l What type of records keeping is important and necessary?
As per IRS publication 583 - Keeping
Records,
EVERY SUPPORTING DOCUMENTS
FOR ENTRIES MADE IN BOOKS.
l Gross
Receipts:
Cash Register Tapes,Bank Deposit Slips, Invoices, Form-1099 Misc.
etc.
l Purchases:
Invoices, Cancelled Checks, Cash Register Tape Receipts.
l Expenses:
Cancelled Checks, Account Statements, Credit Card Sales Slips, Invoices
etc.
l Assets:
When and How the asset was acquired, Cost of Improvement,
When and How the asset was disposed of etc.
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