Red Earth CPA exists to create more freedom for business owners so that they can focus on the high-value work that leads to growth. We desire businesses to thrive for the owner, employees and the community. We accomplish this by removing the overall stresses of the daily business regarding accounting and taxes. The listed services are the most common services provided for our clients.
So what is it you do?
My last post dealt with the challenges of small tax practices. Since we don’t major in taxes, what is it we do? Instead of filing hundreds of tax returns each year, the value to our clients includes the following:
1. Bookkeeping
Call it what you want, but keeping the books is essential for every business. While most firms are happy to pass this along to another company, all the other services offered by Red Earth depend on clean books. Closing our client’s books at the end of each month provides fresh information on the business for the owner’s convenience and future needs. Current books opens to doors to future opportunities for growth.
We record bills, invoice clients, reconcile credit cards, issue 1099s, reconcile bank accounts, perform monthly close and record payroll. This service is offered in cloud software virtually eliminating paper from the process.
2. Payroll
Of all the basic necessities for small business, payroll is essential. We set up, manage and run payroll for our clients. Time tracking can be integrated into the process to allow employees to clock in on their phones. This is in our wheelhouse and we integrate that into your books.
3. Pay bills
Our clients completely outsource paying bills while maintaining complete control for the owner to authorize payments. The system records each step of the accounts payable process complete with an electronic audit trail. Clients authorize payments of the checks or ACH to vendors and send the payment without ever touching a paper check.
Do you ever have vendors call to tell you they didn’t receive a check? The AP process shows the expected delivery date and will even show a copy of the cashed check. (You can send a picture of the canceled check to your vendor next time you hear that comment.)
4. Prepare Business Taxes
The books are managed with a tax plan in place throughout the year. The return can be completed with minimal client involvement. Also, it can be completed on time so clients can invest their time managing their businesses, not their paperwork.
After all the books are done we prepare all the required forms including 1099s. Then the tax returns are prepared for corporations, S-corporations, and partnerships. Managing the bookkeeping shares a copy of all relevant information and forms for the tax workpapers.
5. Advisory
In all companies regardless of industry, size or location, the one asset they can never own internally is objectivity. The process of providing an objective view of a business is called “Advisory”.
Accounting is about the past. Finance knows that the past is prologue and it’s only preparing us for what is next. Business owners may need a toolkit to manage where their company is going, not just reporting where it has been.
Advisory includes observing trends and digesting major challenges. It can include cash flow projections, which allows the client to make informed decisions concerning the future of their business. This includes the management of non-financial information assisting the owner to determine where to focus for the future growth of the business. As a highly customized personal service, it involves inviting someone into your business and working to identify challenges and opportunities for growth.
Red Earth CPA exists so clients can focus on those tasks that lead to the health and growth of their businesses. We want their business to flourish. We accomplish this by removing the strains of the daily business regarding accounting and taxes.