As a small business owner you have more important things to do than to keep your own books. As one of the top tax preparation firms in Provo you can trust us to expertly manage 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 AccountingBookkeeping system. You can customize the package of Provo tax services you receive by adding payroll, tax planning, tax preparation, or any of our other services including Quickbooks support.
Bank Reconciliation
Reconciling your business checking account each month allow us to keep your bank account, AccountingBookkeeping, 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 us 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 - Provo if you'd like to receive a Free Consultation on our Small Business AccountingBookkeeping Service.
I love the team at Paramount! I have been using them for years and have had nothing but good experiences. The professional and courteous service has been second to none. I recommend them to anyone looking for tax or accounting help. Thanks for all your help guys!
— Spencer Shemwell,
Posted August 20th 2023 on google
I had a very productive and informative conversation to begin. Answered all my questions
— Adrian Alvidrez,
Posted August 7th 2023 on google
Knowledgeable, experienced, custom to your specific needs. Great team!
— Luda & Jon Cooke,
Posted August 1st 2023 on google
Absolutely happy with Paramount and recommend them to anyone who needs tax and accounting services! Super excited to work with them on bookkeeping after years of having them do our taxes at the Lehi office. I love how thorough they are at explaining things and they have a great attitude about teaching me instead of me...
I cannot rave enough about Paramount tax! I started a biz because I’m a passionate aesthetician, not because I’m a tax pro. When I tell you I know nothing about taxes, I’m not joking. But thank goodness for Ashley who simplifies it and makes it make sense to me. She is so patient, solves whatever problems I come ...
ashley is the best! super supportive and helpful with all my questions.
— Brookklyn Huberty,
Posted July 13th 2023 on google
Meeting Ashley was a breath of fresh air. She was able to explain the process and the fees upfront. Wonderful demeanor and friendly attitude. I would recommend this company for any business.
Ashley was absolutely amazing. I'm starting a very small business and had questions about taxes and I was SO NERVOUS coming into this appointment, I was worried that I was going to seem really stupid and naive. But Ashley answered every question I had, explained everything super clearly, and WAS SO KIND. I left feeling...
After meeting with Ashley, we felt more comfortable and had more answered questions within the 30 minute conversation than the last 7 years we had used someone else. I highly recommend them!
— Amanda Stclair,
Posted April 26th 2023 on google
I love working with Ashley at Paramount. She’s a breeze to work with, and makes taxes stress free!
Ashley was knowledgeable, understanding, and efficient. She was thorough and made suggestions to reduce my tX liability. I'm new to the area and this was my first go at filing my taxes in Utah. I am delighted my experience with Paramount Tax was so positive. It seems they have a strong organization.
Ashley is super real and very helpful. She takes a relaxed approach and her knowledge is what will convince you to use her services not any shady sales tactics.
Ashley has been a great help to me in setting up my business. I love the ability to virtually consult. It's very convenient for a busy schedule.
— Kate Hooley,
Posted December 20th 2022 on google
Ashley Jefferies was such an awesome person to work with! I had so many questions, and even realized in my short about of time with her that I was under the wrong business entity, she told me how to go about changing things and told me what I needed to know and hear. I will be definitely filing my taxes with them!
— Shelby Lasley,
Posted December 19th 2022 on google
Ashley helped me ease a lot of my anxiety centered around taxes and business advice. She was extremely helpful and knowledgeable. I feel like my business is in good hands moving forward. I will definitely be staying with her for all of my business tax and accounting needs.
— nicole1164,
Posted September 19th 2022 on google
Free
3-Year Tax Review
We review 3 years back to find errors / missed deductions.
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 - Provo, 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 Bookkeeping firm in Provo. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting - Provo!
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 - Provo a call or visit our
tax and accountingbookkeeping firm in Provo
for a free consultation.
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
Paramount Tax is now offering financial and tax franchises across the US!
Free
3-Year Tax Review
