Eight Reasons You May Need Professional Bookkeeping Dallas Texas

As a company grows, there becomes a need to look outside the organization for bookkeeping Dallas Texas.  This happens for a variety of reasons.  Recognizing the need for outside help is a good step toward financial security.  There are five main reasons that our accurate bookkeeping solutions are easier and smarter for a business or organization.

  1. The Owner Needs to Focus
    Often a small business starts out with key personnel handling all essential duties.  Whether it’s the owner or employees, the job gets difficult. They need to attend to more important business growth issues, but they are stuck worrying about the books.  Wouldn’t it be better to attend to financing, sales strategies, and marketing?
  2. Expertise is Needed
    A full-time, fully trained bookkeeper is an extravagance for many organizations.  This can lead to mistakes in bookkeeping that are costly.  Businesses can’t afford financial errors, especially at tax time.
  3. Hiring Difficulties
    For those companies that do hire a bookkeeper, they may find that the pool of talent is limited. This isn’t due to a lack of applicants necessarily, but it is due to the fact that it takes a good salary to hire a true professional.
  4. Reduce Overhead Without Sacrificing Quality
    To make your bookkeeping budget count, you can get a higher degree of accuracy and responsiveness with Slaton Financial Services.  Your business can have a team of bookkeepers ready to work on your account.  You only pay for the help you get.  That helps you save on overhead costs such as employee benefits and training.
  5. Ready on Day One
    Training a bookkeeper can be time-consuming.  This is especially true if your old bookkeeper has already left.  When you trust Slaton, you’ll find that our staff is ready on day one.  There’s not much downtime because we are already up to speed on what’s needed for accurate bookkeeping.
  6. Maintaining Continuity
    Employees come and go from a business. If you lose your bookkeeper or payroll administrator, you may be scrambling to find someone new. Fortunately, you will find stability with us. Slaton Financial’s large bookkeeping department will keep a handle on your books.  Our team works together on tasks. If one person were to leave, someone else on our team will have the knowledge and expertise to carry on.
  7. Outside Oversight
    By having an outside agency oversee your bookkeeping, you’ll have a fresh set of eyes on the bottom line.  Our advice has no agenda. We are just crunching the numbers.
  8. Proper Management
    Your business deserves someone who is highly capable.  Slaton Financial Services has been providing bookkeeping services for decades. Our staff knows all of the ins and outs.  We know how to avoid common pitfalls.

You can expect timely and accurate reports. Our staff is always open to information requests from our clients. It is our job to keep our clients informed about their finances.

We provide bank statement reconciliation, balance sheets, retained earnings statements, quarterly tax reports and cash flow statements.  You’ll have access to a detailed general ledger. Performance graphs can show you information at a glance.

Put your books in good hands. Talk to the staff at Slaton Financial Services.

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.

MyPayrollHR Clients Left Without Payroll Processing Money

MyPayrollHR, a national payroll company, has shut down unexpectedly. More than 250,000 employees across the country have seen their paychecks disappear.  Over 4,000 companies used MyPayroll HR rather than a local firm.

This is causing a stir in the financial services industry, especially among local payroll providers. We’d like to assure our clients that Slaton Financial Services has no association with this company.  Managers can trust us with their payroll company responsibilities.

The Problem with MyPayrollHR

In one stroke, MyPayrollHR appears to have moved $26 million of its clients’ money into its own account.  Money was transferred to an unknown account at Pioneer Bank.  Employees received their paychecks only to have their paychecks suddenly taken back, according to CBS News.

Cachet, a California-based company that processes for MyPayroll HR, mistakenly withdrew the amount twice.  Some employees lost even more.  Cachet has stated that it will refund money that was mistakenly withdrawn.  However, that isn’t correcting the bigger issue caused by what appears to be theft by someone who worked for MyPayrollHR.

The Federal Bureau of Investigation has already stepped in to investigate this crisis.  Since the company is headquartered in New York, it is being investigated by the State Department of Financial Services and the State Department of Labor.  Nacha, the national organization which oversees direct deposits, is also investigating.

MyPayrollHR and its parent company ValueWise are shuttered.  The website and Facebook page have quit functioning.

Slaton Payroll Processing is Different

Understandably, many small businesses contract out their bookkeeping and payroll.  At Slaton, our team handles payroll processing in addition to tax services, human resources, and scheduling help for small businesses in Dallas, TX.

Our company has been in business more than 38 years, and our talented staff has over 100 years of combined experience in accounting and bookkeeping.  Experts at tax policy, our firm handles withholding for income taxes,  Social Security and Medicare.  We handle checks and direct deposits as well as cash card payments.  Our efforts ensure each employee’s paycheck is done correctly every time.

If you need a payroll company that you can trust, please feel free to contact us.  Our affordable financial services will provide you peace of mind.