CPA Salt Lake City

Salt Lake City, UT CPA

Small Business Accounting

Accounting for small businesses in Salt Lake City

From new business start-ups to established enterprises, all kinds of small businesses rely on Salt Lake City, UT CPA firm RFBM CPAs for bookkeeping and accounting services. When you become our client, we’ll become a valuable resource for clear and accurate financial information that will contribute to the success of your business. You’ll receive the tools you need to manage expenses and optimize cash flow including meaningful financial statements and dependable advice. And when we start managing your finances, you’ll have more time to work with existing clients and bringing in new ones.

At RFBM CPAs, we take great pride in providing high quality accounting solutions to our clients. We get to know you and become an insightful financial partner who really understands your goals and challenges. We strive to learn about your pain points and find practical ways to improve efficiency, streamline accounting processes, and save money.

What is real-time accounting?

Real-time accounting is when your books are caught up to the present and you know exactly where you stand with your account balances, revenue, and profit. It’s truly doing your accounting in real time.

The opposite of real-time accounting is getting your books done once a year (or worse, being years behind). When you wait to do your books once a year, say at tax time, you lose the power of being able to monetize opportunities in real time. Some examples are realizing your prices are too low and your profit margins need adjustment, seeing what’s selling well and restocking sooner than later, or discovering a worker is not productive based on your pay rates and prices.

Today’s cloud accounting systems and bank feeds allow you the potential for real-time accounting, where the benefits include:

  • Better cash flow management
  • Faster correction of pricing, hiring, stocking, and margin mistakes, saving money and increasing profits faster
  • Faster identification of any tax liabilities as well as the ability to reduce or eliminate penalties from paying late or underestimating taxes due
  • Ability to see whether you are making a profit or a loss
  • Potential to catch fraud or identity theft much faster if you become a victim
  • Lower accounting costs since errors tend to snowball over time
  • More peace of mind
  • Ability to be more proactive in your business management, capitalizing on opportunities that show themselves in the numbers

Accounting and Bookkeeping for Small Businesses

We’ll put together a customized package of accounting and bookkeeping services that’s geared toward the specific requirements of your small business. No matter what services you choose, you'll get fast, friendly, personal attention from our staff. Call 801-288-1222 now or request a consultation.