accounting software – Dispatches From The Front

As a small business owner, you may find it difficult to gauge when to outsource responsibilities or handle them on your own. This is especially true in the case of a certified public accountant (CPA), especially if you’ve just started your business or if your company has grown beyond an expected size.

While you can certainly take care of the day-to-day accounting yourself – especially if you have a top accounting software – or hire a bookkeeper, there are instances when the expertise of a CPA can help you make sound business decisions, avoid costly mistakes, and save you time.

What is a CPA?

CPAs are tax experts who can file your business’s taxes, answer important financial questions and potentially save your business money. While CPAs have accounting degrees, their certification differs from traditional accountants.

CPAs have passed the Uniform CPA Exam – a rigorous exam testing one’s understanding of tax law and standard accounting practices – and obtained a state license. (The state license includes ethical requirements, too.) They must take professional education courses to maintain their license, and may lose it if they are convicted of fraud, negligence, or ethics violations. Furthermore, CPAs have unlimited representation rights to negotiate with the IRS on your behalf.

A few years ago, we accepted that there were limitations to accessing the Web. However, this mindset has changed in a few short years thanks to the emergence of cloud computing and mobile technology. New businesses are now capitalizing on this recent technology to give us greater access to our assets stored online, with no strings attached.

Small business accounting has undergone a sea of change as a new breed of Web-based financial management tools has become available. These software providers have removed the constrictions of desktop software, allowing many accountants to work closer and more efficiently with their small business clients through the Web.

At the moment, the market is crowded with cloud accounting providers. Intuit is still the incumbent, but there are a number of alternatives to its flagship QuickBooks product.

I believe Xero will emerge from the pack and fortify itself as the must-have cloud accounting solution for small businesses in the future. Here’s what sets it apart from the other options and why it’s here to stay.

Tag: accounting software

When Do You Need a Certified Public Accountant? | businessnewsdaily.com