Frequently Asked Questions
Answers to the most frequently asked questions we receive at SimpliProfit.
Q: I'm starting a new business from scratch. Can you help me?
A: Of course. It's always highly recommended to consult with an accountant when starting a new business. Let's schedule an initial meeting so that I can learn more about your business and its objectives. We will get you started on solid financial grounds.
Q. Do you have any experience in my field?
A: Over the past years in business I've worked with many business clients from a wide range of fields and industries. So it's likely that I've worked with a business like yours. Furthermore, as an experienced accountant I know exactly what are the most important tasks for small businesses when it comes to your accounting, regardless of your field or industry.
Q. How do we start?
A: Please call us or send us an email to set an initial meeting, or to discuss over the phone. The more we can learn about your business, your processes, your accounting and financial practices, the better out understanding of your specific needs and the more effective our solutions and services package.
Q. How can I move from in-house to outsourced accounting?
A. Preparing your business to switch to an outsourced accountant doesn’t have to be hard. We will help you along the way, making sure it doesn't intervene with your business' daily tasks and growth.
Q. How does better accounting practices affect my business' bottom line?
A. Poor financial management is a major cause of business failure. If you don’t have good financial practices in place, your business could suffer in a number of ways, including lower performance, lost income, bad tax planning, overloaded expenses and missed financial opportunities. A professional business accounting service will enable much better control over your financial management, helping you develop and grow your business.
Q. What does the monthly business accounting process include?
A. The monthly accounting process starts with receiving your documents and reports. Our staff compiles the information and reports back to you with a profit and loss statement, balance sheet and general ledger. These monthly financial reports are essential for business management and planning, helping you foresee both future obstacles and opportunities.
Q. When should I consider outsourcing my accounting?
A. The moment you realize that you're spending time on accounting tasks instead of managing and growing your business, that's the best time to outsource all or part of your accounting. By outsourcing your accounting you gain quality time to focus on the core aspects of your business.
Q. How much knowledge do I need to work with QuickBooks?
A. QuickBooks and QuickBooks Pro are easy to learn and use, you don't need in-depth accounting knowledge to operate them. Just fill in familiar forms on screen like checks, invoices and other forms and QuickBooks will automatically do the accounting for you. But if you do it in-house, you should contact us for the initial setup, which is essential.
Q. Is QuickBooks only for big business?
A. No, on the contrary. Small to mid-sized businesses benefit most from the ease of operation and reporting capabilities of the many automatic processes and features of QuickBooks. Large businesses can always outsource their accounting needs.
Q. Why do I need QuickBooks for my small business?
A. QuickBooks is an essential software tool that can effectively manage your accounting tasks. It's much easier to maintain than worksheets, it provides accurate useful business reporting and it enables you to plan ahead.
Q. How do I get help when using QuickBooks?
A. QuickBooks includes a help section which can give you on-screen immediate assistance with most problems you may encounter. In addition you can always contact SimpliProfit's experts for help. After the highly important initial setup and training, we are available to assist you with any problems and questions that may arise.
Q. How do I choose which QuickBooks version to use?
A. QuickBooks includes several versions like Pro, Premier, Enterprise, POS and QBO. Your choice should be based on the specific functions it needs to serve for your specific business (i.e. wholesaler, retailer, manufacturer, etc).
Given the complexity of today's regulatory system, our knowledge and competence can prove to be priceless. We can make the difference between a well managed thrieving business and a struggling financial entity trying to cope with costly damages.
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Let's get started, this could be one of your best financial decisions!