Answers to the most commonly asked questions can be found
If you do not find the answer to your question in the FAQ,
Or by calling the support line at:800-212-1198
Accounting and Office Management, Computer system
design and implementation
Question: How do I begin the transition from a manual
accounting system to a computerized accounting system for my
Answer:The best place to begin is with your last federal
income tax return.Your accountant will use that information as the
starting place for you new, computer-generated Balance Sheet.
From that point forward your individual business transactions like
bank deposits, checks written, and acquired or sold assets will be
entered in order to bring your records up to the current date.
Question: I have a CPA, can’t she just do all of my basic
bookkeeping and accounting during the year?
Answer:Absolutely, the only consideration is your budget.
A CPA will generally charge substantially more per hour for routine
bookkeeping and will usually have staff that actually does the work
under his or her supervision.
Question: What is computer system design?
Answer: Every business is unique. The starting place for all
accounting systems is your “Chart of Accounts”. This is a list of all
of the places where your particular business transactions are entered.
Is that check for $100 a payment for an expense, or a loan payment?
It makes a big difference in your “bottom line”. Also, if your chart of
accounts is set up to match your income and expense categories
on your tax return, 90% of your tax preparation will already be
completed by years-end.
Asset Management Question: What is asset management?
Answer: Does your business own things? A building, cars or trucks,
or part of another business? The tax treatment for assets is continually
changing as far as the IRS is concerned, and it’s important to know the
current law in order to maximize your company’s profits. Several years
ago huge, short-term tax benefits became available to businesses
purchasing certain types of vehicles. Did you take advantage of one
or more “Section 179” deductions?
Question: What else could a tax professional help me with
regarding business and personal assets?
Answer: A major consideration before purchasing any kind of
property or equipment or vehicle is how to take title. In what name
will the asset be held? This can be critical when it comes to the tax
consequences and also your ability to dispose of the asset.
The posting of daily transactions through financial
statements and annual reports
Question: I don’t write very many checks each month
and make only a few deposits. Isn’t computerized accounting
“overkill” for many small business?
Answer: No, depending on what your time is worth. Are those checks
often to the same payee each month for things like rent, utilities,
loan payments, etc.? If so, you are re-writing those same checks,
and addressing those same envelopes month-after-month for 12
months, and then you have to manually total the checks in order to
enter the totals on your tax return form. With a computerized system,
generating computerized checks monthly your bill-paying time will be
greatly reduced and all of your totals will be available with a few
keystrokes at years-end.
Real Estate Brokerage Services and Property Management
Question: Why should I pay some real estate broker a huge
commission when I can just sell this property myself?
Answer: Please allow me to shatter this myth of huge real estate
commissions. Real Estate Professionals are basically in business for
themselves, even if they are affiliated with a large firm. The majority are
self-employed, independent contractors and their overhead is a huge
percentage of their commission earnings.
If you want to try to sell it yourself go ahead. If you really want
to sell it, use a professional! The professional will know the market for
your property and not let you waste your time (or his or hers) on trying
to sell an overpriced property. The professional will know how to
screen potential buyers for you so that when you do get an offer,
you can be confident that the buyer is financially able to
complete the transaction.
Real Estate syndication, construction and development
Question: How can National Accounting help me to profit from
the current real estate downturn?
Answer: All Americans are aware of the dismal real estate market,
and many of us realize that this is the time to buy...
IF YOU CAN BUY RIGHT!
Depending upon what state you are in there are several investment
vehicles available, even to the small investor that will allow for
shared risk (there’s always risk) and maximum gains.
We will analyze your financial position and then recommend some
potential investments for you based on the amount you would like to
invest; the period of time that you anticipate holding the investment;
and the return on investment that you need or want.
We don’t believe that the price “bottom” has yet been reached,
but any investment should start with a realistic analysis of your own,
personal financial situation and future.
Payroll from paycheck preparation to government reporting
Question: I only have 10 employees, and I can write those
checks myself in just a short time. Why use a computerized
Answer: Payroll preparation was one of the first business functions
to be computerized because of the repetition of data entry. Even with
only 10 employees, you are still writing or typing out those same
10 names every pay period and often calculating the same
Then there are the government reporting requirements.
Again, you find yourself totaling all of those columns of wages and
deductions for payroll tax deposits. These deposits can be as frequent
as weekly depending upon the size of your payroll, and they must all
balance with your own company books if there is a payroll audit.
Errors can be costly and fines hefty, which is why even many
very small businesses rely on computer professionals for at least
this aspect of their business cycle.
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