CPA ARLINGTON TX
CPA Arlington

Barbara Schermerhorn, CPA

Barbara Schermerhorn, CPA Arlington Tx is a full service Certified Public Accountant for Arlington, Texas and the surrounding area. She is conveniently located at I-20 and Little Road at 6025 I-20 West, Arlington, Texas 76017. Barbara can do your personal tax returns, but, her expertise and experience is in working with small to mid-sized businesses. If she accepts you as a client, she will prove to be your most valuable resource.

Best Choice for Small to Mid Sized Business Accounting Needs

In Arlington, Texas, Barbara Schermerhorn is your best value for Small Business Accounting, QuickBooks Services, Payroll Services, Compilations and help with New Business Formation. She also provides small businesses with tax planning and preparation services, and can help with various tax problems also.

A Fellow Business Person With Your Best Interest in Mind

Barbara is a small business person herself and understands your needs. She keeps abreast of the latest tax changes and other governmental requirements. With your help, she will keep your business safe and legal.

Highest Standards

She subscribes to the highest ethical standards. If you are looking for someone who utilizes shady or questionable practices in order to save you money, then you should look elsewhere. That being said, Barbara will save you the maximum allowable by law on your taxes. She is a woman of Faith, and yet she is very shrewd in the matters of accounting, bookkeeping, and all things related to her legal status as CPA.

CPA Arlington Tx: Full Service CPA Firm

Some of the services performed on a monthly basis that will really take a “financial load” off your back are: Bank Reconciliation, Income Statement, and Balance Sheet. As a valuable side benefit, you will have a “clean” general ledger every month. Since all financial transactions flow through (or should flow through) your general ledger, keeping it in order is of paramount importance.

CPA Arlington Tx: New Business Startups Are Welcome

If you are just starting a business, she can help you get QuickBooks set up and give you some basic training – or do more advanced training if you like. It is very important to get the books set up correctly at the start. An error here can have long range negative effects.

Let Barbara Worry About the Taxman, While You Run Your Business!

When you start out in business, sometimes you are just surviving from month to month. In those cases, some hard choices have to be made about who gets paid first. I’m sure you have heard the horror stories about payroll taxes that didn’t get paid in a timely manner, and the fines and interest involved. Our government has shut down many businesses (through bankrupting companies due to back taxes and fees) that might have survived had these IRS taxes been prioritized properly. This is one of the best reasons to outsource your accounting work to a reputable and knowledgeable CPA professional. Their guidance is invaluable! Don’t live in fear of the IRS audit!

CPA Arlington Tx: Payroll Services

Barbara keeps her clients advised of any trouble areas they need to avoid.

CPA Arlington Tx: QuickBooks Startup, Training, and Consulting

QuickBooks is a great money saver and time saver for small to mid sized businesses, because much of the day in and day out accounting tasks can be easily documented which saves you the cost of a full time accountant or bookkeeper.

QuickBooks is able to generate all kinds of reports that allow you to get the the “big picture” of your company’s financial health with just a few keystrokes. But, more importantly, it can export data in a format that your outsourcing professional (accountant or CPA) can easily use. This makes it easier on the CPA, and as a result, saves you money!

Barbara is a QuickBooks ProAdvisor who can set up your books, train you on QuickBooks, and process your monthly uploads to her. QuickBooks is not a requirement to do business with her. She still has several clients that bring her a shoe box each month with all the company receipts in it. Since she is paid by the hour, just think of how much money you can save by implementing the QuickBooks strategy.

CPA Arlington Tx: Testimonials From Local Business Owners

Barbara won my trust very quickly. I have never once regretted choosing her in the seven years that she has been my accountant!

Marty H. (Arlington Texas)

We own a small company, and don’t have the payroll for a full time accountant. While I don’t keep her busy full time, I feel like I get her full attention.  That is very important for our company.

Without her, we were floundering as we are not in the bookkeeping business.  With her, I feel confident that I understand what is going on and that we are paying the appropriate taxes and we have a financial direction for our company.

Barb takes pride in her profession, so if you are looking for someone who cuts corners and “overlooks” things. I would say that she is not the accountant for you.

In short, I feel very blessed and thankful to have found someone who takes some of the pain out of paying taxes.

Sheri Ylen

TNS Mechanical Services, LLC

Barbara Schermerhorn has been my CPA for 6 years, not only is she
always on top of tax codes and changes she helps me stay on top of
my business accounting! She was instrumental in advising me on the
tax ramifications and advantages to buying my business, RF Communications.

She is always quick to respond to questions by emails or text and is an
EXPERT on Quickbooks (thankfully, because I am not!)

She is extremely professional and also has reasonable rates.
I would recommend her to everyone.

Ross W. (Owner)

RFCommunications

cell (469) 628-2503

fax (972) 641-9855

4214 Emerson Drive

Grand Prairie, Texas 75052

Our previous CPA retired in 2005 and I was unsure if anyone could fill his shoes.  I have learned more over the last seven years in working with Barbara than ever before. She is calm, patient, knowledgeable and always on time.

Barbara has handled our corporate and personal taxes and has taken the time to explain how my postings relate to the tax form and other areas of the business. It is always a pleasure to work with her. I look forward to many years ahead.

J. Willburn
Arlington, TX

Barbara has been invaluable to us in managing our small business. She responds to our needs and requests promptly and professionally. Barbara’s happy and friendly disposition make working with her a pleasure.

T. and J. Williams, Arlington, TX

 

 

Conclusion

Whether you need business consulting, business accounting, small business tax planning, or help with your QuickBooks accounting software, CPA Arlington Tx and specifically the service that Barbara Schermerhorn, CPA Arlington Tx provides is one of the best values in Arlington, Texas.

 

CPA Arlington TX

 

 

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CPA Arlington Tx Portrait of Barbara Schermerhorn, CPAThe top business accounting software for the small business person is QuickBooks by Intuit. It is fairly easy to set up and maintain all your financials in one place.

As a business person, you are probably not interested in spending most of your time keeping the books.

The use of QuickBooks will help you to easily share the bookkeeping load with your accountant. By that I mean that you will do the “easy” part by keeping track of the day to day transactions while your accountant analyzes your books, makes suggestions for improvements, and ties your books to your tax return. ;-)

By entering your daily transactions yourself, you will reduce the time your accountant needs to spend on your account. That will save you a lot of money.

Although the main principles of accounting are common to all businesses, I understand that each business is different. And, because of this, I pay special attention to the individual issues that face your business type. For instance, a chiropractor has different issues than a software engineering company.

QuickBooks is a very powerful piece of software, and because of that it can have a very steep learning curve if you don’t have a background in accounting. You probably won’t use but a small portion of what is available.

I’ll simplify everything for you as I help you set up your books tailored to your business type. In so doing we will sidestep the multitude of features that you don’t really need. This will save you a lot of time and as a pleasant side effect it will prevent “accounting brain freeze”. ;-)

So if you are a Chiropractor, Dentist, Cosmetic Surgeon, Software Company, HVAC contractor, Locksmith, or any small business in need of a CPA with excellent QuickBooks knowledge and teaching skills, call Barbara Schermerhorn for an appointment at 817.269.8527.

We’ll sit down together and design a tailor made bookkeeping system for your business.

I look forward to working with you.

QuickBooks Certified ProAdvisor - QuickBooks Certification

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QuickBooks Certified ProAdvisor - QuickBooks Online Certification

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If you are sometimes bewildered by accountant lingo, then this article is for you. Your CPA can describe “costs” in many different ways. This article by Marty Hobson should help demystify thes terms. A thorough understanding of “costs” can also help you when using QuickBooks.

How Accountants Define Business Related Costs


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Accountants are very concerned about the “cost” of executing business. This is the one term that every company needs to focus on, because if expenses can be reduced, it follows that profit can rise. If you don’t comprehend the costs concerned in “carrying out your business” then there is not much hope that your company will Survive.

Interestingly, CPAs tend to sub divide the expression “Cost” into six distinct types. They are: Direct Costs, Indirect Costs, Fixed Costs, Variable Costs, Relevant Costs, and Irrelevant Costs. I will now attempt to illustrate them one by one, hoping that you will have a clearer picture in your mind Of these “costs” when speaking to an accountant.

Direct Costs
Direct costs are costs which are directly connected to a specific product, service, or a group of associated items known as a product line. They are the expenses connected with one source of sales revenue, a business unit or even a certain operation of the organization. For instance, the price of hamburger meat, the price of hamburger buns, of mustard, catsup, and many other components of the burger, are each a direct expense of creating that famous sandwich.

Indirect Costs
An indirect cost is a peculiar variety of cost. It can’t be affixed to any certain product. For instance, the expense of labor to make that hamburger is a direct expense, but the expense connected with repairing the air conditioner at a hamburger joint is an indirect expense. It is not directly related to the building of the hamburger itself.

Every single enterprise must devise a method of allocating indirect costs to their various unique items, sources of gross sales revenue, company units, and so on. Just about all allocation techniques are arbitrary to one level or another. Enterprise professionals and their accountants should regularly keep an eye on the allocation procedures employed for indirect cost, as this is a line item that can be abused.

Fixed Costs
This is a cost which stays constant, regardless of any change in a company’s activity. A great example of this is the mortgage (or lease or rent) on your building. It will be the same, year in and out. The price is fixed and you can count on seeing it each month.

Variable Costs
Conversely, variable charges can increase or decrease in proportion to your company activity. Changes like fluctuations in gross sales or production level. A great illustration of this is gasoline which is used in transporting goods. As fuel price ranges vary, so do its associated price to the company.

Relevant Costs
This is a managerial kind of accounting phrase. It aids in making business decisions. Relevant costs are basically the long term expenses which might be incurred, depending on which tactic the company employs. If a hamburger eatery decides to open a new store, the shifting cost of hamburger meat ought to be taken into account as a relevant cost.

Irrelevant Costs
This is another managerial accounting phrase. Once a supervisor contemplates taking a long term action these costs are the ones that can be disregarded for some reason or another. They are costs which could possibly lead you to make a wrong decision. Irrelevant costs are most likely of the type that were incurred in the past and don’t possess much bearing on the future path of the company.

Understanding these various kinds of costs can help you talk with your CPA or other accounting professional a lot more easily, as well as give you a greater understanding of accounting principles.

Want to learn more about accounting? If so, then I suggest you check out CPA Arlington TX. It is an excellent source of information about Quickbooks and how to hire CPA Accountants.

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Finding the right accountant can make the difference between success and failure with your new start-up business.

With the economy the way it has been for the last several years many people, that can’t find jobs, are opting for starting their own business.

Arlington, Texas is a “hot bed” of new business activity since it is located right in the middle of the Dallas / Fort Worth metroplex. This area of the country is highly populated and very tech oriented which makes it a fertile ground for start-up businesses. Sadly, statistics show that most new businesses fail in the first year. Good accounting practices and careful attention to your finances can go a long way toward increasing your new company’s chances of survival.

This is a very useful article by Barry McCarthy of Ireland. Most accounting practices are universal, as are six of the seven mistakes that new companies make when first starting out in business. ( The VAT tax is not generally an issue here in Arlington, as it is in Europe) I hope that paying attention to and overcoming these obstacles helps keep your start-up growing and healthy.

Top Financial Mistakes Start-Ups Make

1. Not preparing a cashflow budget
Cash is King. This is especially true for businesses operating in today’s economic climate. It is imperative, therefore, to accurately keep track of your cashflow. The best way to do this is by preparing a monthly cashflow statement showing payments and receipts. This will allow you to predict periods where additional cash may be required. Knowing when you are likely to need cash means you can explore different funding options in good time.

2. Debtor Collection
Ensuring debtors pay on time is crucial to the survival of a business. The outstanding debtors list should be reviewed regularly and reminders sent to any balances overdue. Debt collection is a part of business that most people do not enjoy but time must be dedicated to this to ensure your survival.

3. Monthly purchases
For businesses that sell goods, efficient buying of the goods is vital. Clearly, it is important that you avoid over and under stocking goods as both can be costly to the business. It is also important to ensure you avail of any rebates on offer for bulk purchasing of stock and that you avoid the possibility of surcharges on late orders.

If stock purchasing is a major expense, monthly or quarterly management accounts should be prepared to monitor the stock levels and the average number of days it takes to sell the stock once it is purchased. Calculating your gross profit margin will also give an indication if stock is being purchased efficiently.

4. Not registering for VAT in time
Where a start up business plans to incur significant start up costs (rent, computers, machinery etc) it is important for the business to register for VAT as soon as possible. Registering early will enable you to reclaim any VAT incurred on purchases which can provide significant cashflow savings. Backdating a claim for VAT can only be done in some circumstances and generally requires approval from the Department of Revenue.

5. Not keeping purchase invoices
Businesses that are VAT registered can reclaim VAT incurred on expenses incurred in the business. However, VAT can only be reclaimed where the business has kept a purchase invoice from the supplier. Failure to keep all purchase invoices can lead to business overpaying VAT.

6. Ignoring taxes
It is important to ensure the business is in compliance with all taxes to avoid Revenue interest and penalties. A business has certain tax obligations from the first day of trading not just when it becomes profitable. A sole trader must also budget for payment of income tax. Tax payments should be included in the cashflow budget to ensure sufficient cash is available to meet the liability.

7. Not including own expenses
Another common error made in the preparation of business plans is forgetting to include provision for your own expenses. For a business to survive it must generate enough profits for the owner to live off.

Barry McCarthy is an accountant from the Sunny South East of Ireland. He is a member of both the Chartered Accountants Ireland and the Irish Taxation Institute. He received a first class honours degree in Business Studies from the University of Limerick and a Masters in Accounting from the Michael Smurfit Graduate Business School in UCD.

Barry completed his training in a top 20 accountancy practice where he gained experience dealing with small and medium size businesses in a wide variety of industry sectors. Since then, he has worked with clients in developing internal accounting systems as well as ensuring they meet their statutory and tax filing obligations. Barry currently works for TaxAssist Accountants Ireland as Technical Manager. His role involves supporting a network of small business Accountants. To that end he has written a number of internal guides and articles on topics such as cash flow systems, insurance, pensions etc…

http://www.taxassist.ie

Article Source: http://cpaarlingtontx.com/EzineArticleSite

Well, there you have it. Do you think you can avoid these seven traps? We at CPA Arlington Tx certainly hope so. If you are really new to starting a new business, you might check out our article on deciding whether to base your business on a cash or accrual type of accounting system. It is an important first step.

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Independent Auditors – What Are They? Who Needs Them?


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Independent auditors are Certified Public Accountants which act as a mediator between the business and the stakeholders in the realm of financial reporting. The CPA is hired to do an audit of the business’s accounting system and methods. His/her report is attached to the company’s financial statements.

There is a legal requirement that publicly owned businesses must have their annual financial reports audited by independent CPA firms. Privately owned businesses are not required to have audits done, but they often do because they know that an audit report will add credibility to their financial reports.

Basically, an auditor determines whether the business’s accounting methods are in accordance with generally accepted accounting principles or “GAAP”.

In most cases everything is OK because the financial report is a reliable document. But sometimes an auditor will wave a red flag.

Some potential indicators of trouble include when the business’s capability to continue operations is in doubt. This is indicated by what is known as financial exigencies. It could be that the company has a low cash balance, unpaid liabilities, or in some cases a major lawsuit looming that the business can’t cover with cash reserves.

One trait an auditor must have is professional skepticism. This means that he/she should challenge the accounting methods and reporting practices of the business. This is done in order to verify that its financial statements conform to accounting standards and are not misleading. In other words, that the business being audited fairly presents their true financial condition. As a matter of fact, the words “fairly presented” are the exact words used in the auditor’s report.

A well rounded auditor needs to have technical know-how, of course, but he/she also has to be tough on the accounting methods of the client. His/her job is to be the advocate of the stakeholders and others that use the business’s financial report. It’s necessary that the auditor strictly uphold “GAAP”, and not allow any irregularities slip by.

These days accounting fraud is a serious crime that has recently gained a lot of media attention. Enron and other prominent companies have been convicted of this crime and its officers have gotten some hefty jail time. In the Enron case, the accounting firm of Arthur Anderson was found guilty of obstruction of justice because it destroyed audit evidence.

Today independent Auditors are held to the highest scrutiny.

Want to learn more about accounting? If so, then I suggest you check out CPA Arlington Tx. It is an excellent source of information about Quickbooks and how to hire and deal with CPA Accountants.

Article Source: Marty_Hobson

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Just a little fun this morning. Who says Accountants aren’t funny? I found this on YouTube. By the way, my accountant has a great sense of humor. It’s not a requirement, of course, but it sure makes our financial relationship a lot more comfortable and fun. Enjoy!

You can find us by typing Arlington CPA in Google. These other words work as well:Arlington Accountant, Arlington Accountants, and Accountants Arlington. We hope this video has brightened your day a little.

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