Wallace CPA Southlake, TX
Small business accounting means keeping accurate records of money in and out, then turning them into reports you can use. Wallace CPA helps Southlake, TX business owners set up books, keep them current, read the reports and have records ready for the tax return.
An accountant records your transactions, checks them against your bank, builds your reports and gets the books ready for tax filing. Bookkeeping is the daily recording, and accounting adds review and reports. Wallace CPA does both, and the same firm prepares your return, so there is less to hand over at tax time.
The IRS says good records help you monitor the progress of your business, prepare financial statements, track deductible expenses and support items on your tax return. You can choose any system that clearly shows income and expenses. Our guide to a small business bookkeeping routine shows a simple weekly and monthly rhythm.
Most owners start with a profit and loss statement and a balance sheet. A chart of accounts keeps categories steady month to month. Ask what each report shows and how it ties to your return.
Yes. We review what exists, collect missing statements, correct errors and bring the books up to date. If your file is in QuickBooks, see our QuickBooks cleanup work. We will tell you what we need from you before we start.
Use the client portal or the secure file page for statements, receipts and QuickBooks files. See also how long to keep tax records.
General information, not advice for your situation. Talk with a CPA about your own facts before you act.
Ask anything else: call (877) 682-1171.
Read the guideSmall business bookkeeping setup and a monthly routineNot always. Some owners keep their own books and use a CPA for review and taxes. Others hand over the whole routine. We can work either way.
Many owners update weekly and close each month. The right pace depends on how many transactions you have.
QuickBooks is covered on our QuickBooks page. Ask us about other software before you decide.
We can prepare current financial statements that a lender may request. The lender decides on the loan, so we cannot promise approval.
Call the Southlake office and say what you need: a return, an IRS letter, your books or a new business. Have the notice or last year's return nearby if you have one.
