Bookkeeper vs CPA Dallas TX: Which Do You Need?

Our firm is often asked to explain the Dallas CPA vs bookkeeper difference.  These professionals can perform some of the same functions. While CPAs are more specialized, bookkeepers are doing the day-to-day financial tasks needed to run a business.   Here’s a bookkeeper vs CPA comparison to help you determine which professional service you need.

Bookkeeping vs Accounting

Bookkeeping is the day-to-day math that businesses must do to stay solvent.  It involves sales and purchases.  At Slaton Financial Services, our skilled bookkeepers handle many different types of businesses and organizations. Bookkeeping is essential to our clients whether they have thousands or millions pass through their hands each month.  This is a form of accounting, but it is not so specialized that it requires an advanced degree.

Certified Public Accountants step in to perform audits.  These can be done on a quarterly, bi-yearly or yearly basis. Often audits are requested for specific reasons.  For instance, the books may audited by Dallas CPAs if the company needs a loan or is up for sale. We’re happy to say that two of our clients have done so well that their private companies went public.  Their books were turned over to the banks without the need for additional auditing.

CPAs can perform bookkeeping tasks, but the price is higher.  Since a CPA is only needed occassionally for an audit, it isn’t necessary to pay a higher price for basic financial services.  It is less expensive to pay directly for bookkeepers than for CPAs who will probably use bookkeepers to do much of the work.

How Slaton Bookkeeping Helps Dallas Area Clients

Our bookkeepers have years of experience in the field. They spend their time dealing with invoices and deposits. However, it’s their knowledge of the business or organization that is truly valuable.  They keep tabs on the operation, alerting owners to any surprises.

Each day they make sure that expense categories are noted for new transactions.  They watch the bank account and credit card accounts, making sure that transactions match up. Under the client’s direction, our bookkeepers pay invoices and make credit card payments.  In addition, they note the payer and expense category for miscellaneous expenditures by check, credit card or debit.

Monthly statements are reconciled to ensure accuracy.  Reports are generated to keep management informed.  Expense categories help owners discover places where they can save or areas where they need to spend. As the Small Business Administration suggests, this data helps you do a cost-benefit analysis when making decisions.

In addition, our firm offers payroll services.  Each employee’s paycheck is generated weekly, biweekly or monthly.  Federal and state taxes are calculated and withheld in keeping with current tax law.  At the end of the year, W2s and 1099s are ready when employees need them.  Each month we provide our clients with an Excel file, ensuring that they have the same information that we do.

If you aren’t sure whether you need a Dallas CPA or a bookkeeper, talk to Bryan Slaton and his team at Slaton Financial Services. We’ll be straight with you about what we do and how we can help your business grow.

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