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Bookkeeping & Payroll Services

Empowering New & Established Small Businesses to Thrive

For both new and existing small business owners, managing financials without expertise can lead to frustration and unnecessary expenses. The financial health of your business is paramount to its success. Outsourcing bookkeeping and payroll functions can offer a cost-effective and stress-free solution to address these challenges. As a business owner, your focus should remain on business growth to achieve success.

Situated in NW Arkansas, Gigi's Tax Co stands ready to provide the expertise you need to navigate the complexities of business finance. Our aim is to equip you with accurate and timely tools to assess your performance, allowing you to refocus on your core business activities. Our team is dedicated to delivering tangible value to each client consistently. With Gigi's Tax Co by your side, you'll gain a clear understanding of your financial standing and the insights necessary to make informed business decisions.

We offer customizable packages tailored to your specific requirements, encompassing bookkeeping, payroll, and tax preparation services. Bundling these services brings several benefits:

  • Reduced costs and frustration

  • More time to concentrate on business growth

  • Enhanced insight into your business operations

  • A single point of contact for queries or concerns

Partner with us to streamline your financial processes and unlock the full potential of your business.

Discover Outsourced Bookkeeping Services

What exactly does an "Outsourced Bookkeeping Service" entail? Firstly, it's essential to discern whether the service works offsite with data exclusively or collaboratively shares data with the client. For the purposes of our discussion, we'll focus on collaborative bookkeeping, where both client and bookkeeper have access to the same accounting database, like QuickBooks Online.

Before delving into the specifics of outsourced bookkeeping, let's understand the typical tasks small business owners handle within their accounting systems:

  • Creating estimates and invoices

  • Managing bills for vendors

  • Documenting receipts and bills

  • Handling inventory (if applicable)

  • Managing accounts and transactions

  • Handling payroll and taxes

Now, the role of the outsourced bookkeeper typically involves:

  • Rectifying erroneous invoices and bills

  • Deciphering scanned documents

  • Assisting with inventory adjustments

  • Maintaining chart of accounts integrity

  • Reconciling bank and credit card accounts

  • Handling payroll and tax filings

  • Generating financial reports

  • Providing advisory services and reminders for compliance deadlines

Outsourced bookkeeping services are priced based on factors like frequency of engagement and complexity of financials. Some firms charge hourly rates, while others offer packaged annualized pricing with additional services like payroll and tax planning.

In evaluating outsourced bookkeeping services, consider the standards followed by the provider. While adherence to Generally Accepted Accounting Principles (GAAP) is ideal, bookkeepers often tailor reports to meet management, tax, and third-party stakeholder requirements.

Ethical standards and compliance are paramount. Bookkeepers should ensure accurate classification of expenses and maintain confidentiality. Small business owners should discuss standards and expectations with their bookkeeping service.

For businesses not needing concurrent access to accounting systems, cash-basis engagements offer simplified reporting for compliance and internal planning purposes. These services are distinct from collaborative outsourced bookkeeping and are typically charged at lower rates.

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