Accounting Firm in Lehi, UT

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits!

Each month or quarter we'll do the following things for you...

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

Bank Reconciliation

Reconciling your business checking account each month allow us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

Income Statement

An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

Balance Sheet

A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you...

  • Quickly get a handle on the financial strength and capabilities of your business.
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively.
  • Determine if your business is in a position to expand.
  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses?
  • Determine if you need to take immediate steps to bolster cash reserves?
  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage?

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having our Lehi tax accountants review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

Unlimited Consultations

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Our consultations are already included in our price, so please feel free to call us whenever you have a question or concern.

Contact Paramount Tax & Accounting - Lehi for any Lehi cpa accounting related questions. We are happy to assist any way we can!

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Great Teams!!!!!!, Thanks Sidney and Jeff...Well done!!!!
— Pedro Larreal, Posted August 2nd 2021 on google
Very helpful. I am excited to work with their team during tax season!!
— Katelyn Dilworth, Posted July 15th 2021 on google
Jeff is awesome and very knowledgeable. He cares for his clients, that’s why he is great and easy to work with. Thanks for your help!
— Fatai MacKay, Posted July 15th 2021 on google
I've had taxes done here for a couple years now and have been pleased with the help they've been provided and the time they've taken to work with me through my individual tax situation. I've saved money by coming here and feel confident in my prepared returns. I'd recommend them and will return in the future.
— Colby Clark, Posted June 8th 2021 on google
Jeff and his team have been awesome to work with. They are always very responsive and on top of what they do and they helped me save thousands of dollars last year on my taxes. They've earned this review by being consistent and responsive in doing a great job.
— Spencer Strong, Posted May 24th 2021 on google
Thank you very much for doing my taxes. Emily was awesome. I won't go anywhere else to do my taxes. Thanks again for everything.
— Randy Brown, Posted May 16th 2021 on google
Knows his stuff and has a great team!
— Dallin Fuller, Posted May 11th 2021 on google
Jeff and Lily are highly professional, great response and are readily available. Would recommend to others.
— Vanessa Perez, Posted May 10th 2021 on google
Very Professional and Responsive!! Thanks
— Seth Clinton, Posted May 6th 2021 on google
Super helpful, very informative!! I would definitely recommend Jeffrey and Lily at Paramount tax! They did a great job.
— Yvett Schenk, Posted May 3rd 2021 on google
I wish I would have gone with Paramount years ago. They take their services to the next level.
— Frank Redd, Posted April 22nd 2021 on google
My first time using Paramount Tax & Accounting. Great first time experience! Staff is really nice and professional. Most important, they took time to answer all my questions! I will be a return client.
— Tamitha Messina, Posted April 8th 2021 on google
After over a decade (16 years) of doing my own taxes on TurboTax, I decided to have a CPA help me this year due to a number difficult parts of the tax code. They saved me a ton of money, and their price was very reasonable. I’m going back in the off season to have them fix my previous years!
— Dan leininger, Posted April 2nd 2021 on google
Lexi and Paramount were great to work with. Got our taxes figured out quickly and answered our questions confidently. I recommend Paramount Tax & Accounting CPAs of Lehi to anyone who needs quick, easy tax work done. Got us a good return as well! Thanks!
— Dalton Nackos, Posted March 31st 2021 on google
These guys always look for every deduction and really talk you through the process. Lexi was way nice, offered me a drink, and was super helpful to get me the best return. Have been coming to paramount for years and will keep telling every one to go check them out!
— Gio_metrics The Collections, Posted March 30th 2021 on google
So professional and happy to help. Genuinely amazing at what they do. They are driven to help you get the best tax return possible.
— Marin Smith, Posted March 30th 2021 on google
It couldn’t have been an easier, more pleasant experience. The meeting was enjoyable, quick and efficient. Could not recommend enough!
— Alix Goodrich, Posted March 30th 2021 on google
Fantastic, friendly service. They are simply the best.
— Nic Haws, Posted March 26th 2021 on google
Always enjoy working with Jeff and his team. Looking forward to many more years of their services!
— CeeZee & Co, Posted March 22nd 2021 on google
Lexi was great to work with! Her and Jeff really helped answer all of my questions and helped me with my taxes. I would highly recommend them to anyone!
— Parker Dawe, Posted March 22nd 2021 on google

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Paramount Experience

Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting - Lehi, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from other finance professionals by stringent qualification and licensing requirements. Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Accounting firm in Lehi. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting - Lehi!

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Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals such as CPAs, EAs and Attorneys, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting - Lehi a call or visit our tax and accountingbookkeeping firm in Lehi for a free consultation.

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Why Choose Paramount Tax & Accounting - Lehi?

Through dedication to the three underlying principles of professionalism, responsiveness and quality, Paramount is committed to providing outstanding service to our clients.

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