Articles | The Mobile Accountant
How the Right Partner Can Help You Understand and Plan for the Financial Health of your Small Business
If you’re in business, an Investor or you just like to read the business press or news, you’ll often hear words or phrases like, “This Company makes Money,” “Gross Profit,” “Margins,” “Earnings,” or maybe “Working Capital.” The terminology and the slang can be confusing or downright boring, if this is not your cup of tea. […]
Accuracy in Accounting & Bookkeeping: The Practical Consequences to Small Businesses
If you’re an Accountant, you should be practical and also do not harm-a Hippocratic Oath for Accountants. Accountants should be driven with a desire to help their Client’s understand the benefit(s) of instituting processes and methods to ensure good record keeping. As an Accountant or Bookkeeper, you’re in a great position to gain your Client’s […]
The Problems with Employer Identification Numbers (EIN)
When it comes to EIN Numbers having more is not better, in fact, it could lead to a lot of grief and have you reaching for the Excedrin. Let me start with a few definitions to frame this: EIN’s also known as, Federal Employer Identification Numbers or FEIN’s are used to match a business or […]
Accounting & Bookkeeping Tips
Winter has finally hit here in Michigan…daytime high was 14 degrees! Ok, back on topic – here are a few Accounting & Bookkeeping tips to improve the accuracy and “appearance” of your financial statements. (A) Method to Address Vendor Purchase Returns If the return was made for cash: create an asset (Bank) clearing account, I […]
The Importance of Cash Management-A Planning Tool for Small Business
My Firm is about helping the small business owner with practical tools. So let me address a topic no business wants to discuss or acknowledge-Failure. Businesses fail for a variety of reasons, but near the top of the list is they do not budget for or manage their cash. It’s this lack of discipline that […]
Accountants & Bookkeepers, Obsolete? No; Outsourced? Yes.
Some argue that with advances in technology and AI, there won’t be a need for Accountants or Bookkeepers, evidently, because these advances will have evolved to the point where even the small business owner/operator/partner will be able to complete this work on their own. You can find articles posted everywhere (from non-Accountant authors) that are […]
The Importance of the Small Business Client’s Capital
More often than not, the clients’ business represents their sole source of income and a substantial part of their wealth and being a clients’ bookkeeper/accountant should not be a guessing game, although what passes for “expert opinion” from so-called thought leaders in this age of social media can leave much to be desired. As a […]
The Differences between Accounting and Bookkeeping
Both are necessary and interdependent but hiring someone with expertise in one without the other can be problematic. Understanding how QuickBooks is structured, the necessary workflows, and how to enter and edit records and data are necessary to being a ProAdvisor, but without an understanding of Accounting it becomes very difficult to deliver credible service […]
Accounting can be divided into two distinct areas: Financial Accounting involving Compliance and Managerial Accounting-data that Owners/Operators/Managers and Partners need to make informed, intelligent decisions. Which do you need?
TMA is able to provide expertise in several areas of your business in addition to Accounting and Bookkeeping. We can claim this, because we’ve lived it. We want to gain your trust so we can become your full-service Advisor.
Bookkeeping is the process of inputting, classifying, error correction and maintaining accounting records. Understated or overstated accounts? QuickBooks Workflow issues? Problems, large or small, simple or complex, TMA can help.
Small businesses will need further clarification on certain aspects of the Tax Cuts and Jobs Act (TCJA) and Accountants and Tax Attorneys will be busy providing guidance for many years to come. Contact TMA for more information regarding tax services.
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The Mobile Accountant
Mike Faremouth, Owner/Principal