Kolz Global Financials

Financial Specialists

Why Should You Choose Kolz Global?

Here are the top 6 reasons to outsource your bookkeeping to us. If you’re still not convinced, read the detailed descriptions on how to benefit from using our services.

Plain and simple, we offer higher quality bookkeeping, make it fast by working in the night, and are cost effective.

Key Benefits Kolz Global
In-House
Bookkeeper
Available Full Time Image result for check mark
Overnight Delivery Image result for check mark
Off-Load Non-Core Function Image result for check mark
High Quality Bookkeeping Image result for check mark Image result for check mark
Reduced Operating Cost Image result for check mark
Reduced Overhead Image result for check mark

Available Full Time
Companies that have an in-house bookkeeper find that problems may occur when the employee works part time, calls in sick, or even leaves the company on short notice. Outsourcing with us, you get full-time, reliable, professional online accounting service.

Overnight Updates
Continuous work cycle: information scanned/faxed one day is processed overnight. See How outsourcing Works for more information on how the process works.

Off Load Non-Core Function
Accounting is one of the easiest business functions for a company to outsource. The efficiency of outsourced accounting services means that companies no longer need back-office accountants working at their location. This frees up space in your office so that a cost center (accounting) turns into a profit center (another sales person, estimator, attorney etc.)

High Quality Bookkeeping
Our clients are handled by a team of accounting professionals that have a level of expertise not normally found in small businesses. Our teams comprise of an Indian CPA Manager, Accounting or Bookkeeping Specialist and a Customer Support Contact who are trained and experienced at providing Managed accounting services. Your team is only a phone call, instant message, or e-mail away to provide prompt and accurate service.

Reduced Operating Cost
Managed accounting with us is cost efficient. You get a dedicated team for similar or less than what it would normally cost to hire one in-house employee.

Reduced Overhead
Not only do you save on salary but also you have no overhead, management, hiring or training cost when using an outsourced service. The overall savings can be up to 50%. Hidden costs of hiring an employee begins with paying for a classified ad, or even paying an agency to find someone. Next come the additional payroll taxes, an office space and computer and sometimes, benefits. All of these costs are not applicable when you use our services.

What we do

Running a small business is no easy feat. By doing so, you demonstrate you not only have incredible talent, expertise, and determination, but you also have a keen business sense. However, this does not necessarily insinuate you have a broad accounting background. It may be in your businesses best interest to hire a professional accountant and here’s why:

Key Benefits of Online Accounting Outsourcing

 The most common reasons management chooses to outsource accounting services are to reduce operating costs, improve company focus, improve quality, free up capital, increase capabilities not otherwise available and to reduce cycle time.

By outsourcing your accounting your company could:

  • Focus on core business. Off-load non-core functions.
  • Get skilled staff at affordable fees. Cost savings of over 50%!
  • Increase customer satisfaction. Improve speed and service.
  • Get access to world-class technology at lower rates.
  • Grow your business. Beat Competition.

Keeping Your Books Straight

Bookkeeping may not be your favorite part of being a business owner, but it’s vitally important to your financial stability and success. Learning how to accurately track and balance your accounts will result in fewer mistakes and less stress. Making the bank balance and your book balance match can seem like an impossible goal, but by avoiding a few common errors it is possible. If you’re a new business owner – or you’re looking for a refresher – here are three common bookkeeping mistakes I see and solutions on how to avoid them:

1. Forgetting about outstanding checks or deposits in transit

Outstanding checks are any checks that have not yet cleared your bank account. If you’re reconciling against the mailed statement, keep in mind that some checks may not have cleared in time to be included on the statement. Similarly, deposits in transit are account credits that are deposited too late in the day to be included with your statement.

2. Not taking bank fees into account

Another common oversight is adding bank fees to your books. Many banks charge fees of various sorts on business accounts. Brush up on your financial institution’s fee structure so you can expect fees and also avoid them in the first place when possible.

3. Making transposition errors

This is an easy enough mistake for anyone to make. Say that new printer cost $115, but you accidentally enter it as $151. These errors can be tricky to catch as a quick visual scan is likely to miss them. Here’s a tip: if the difference between your bank balance and your book balance is divisible by 9, it’s probable this might be the cause.

4. Having the same people who write the checks balance the books

Accountability is important. For the sake of avoiding internal fraud and theft, separate the check-writing and account-balancing responsibilities and assign them to different people. Not only will this keep everyone honest, but having a second pair of eyes can also really reduce the amount of mistakes.

5. Not using QuickBooks

QuickBooks is my favorite accounting software for many reasons, but one of my favorite features is how streamlined it makes the account reconciliation process. If you’re not yet using QuickBooks, I highly recommend you look into it. If you don’t know how to do account reconciliation with QuickBooks, get in touch with me so I can show you how!

Keeping your books straight is important. I recommend reconciling your accounts at least once a month. You’ll be more likely to catch unauthorized transactions quicker, notice errors before they affect more of your bookkeeping, and be aware of what your cash flow looks like. However, bookkeeping and accounting for your business may not be your area of expertise. If you need bookkeeping support for your business, contact me today so we can talk about how I can help you.

Benefits of hiring a professional accountant

Running a small business is no easy feat. By doing so, you demonstrate you not only have incredible talent, expertise, and determination, but you also have a keen business sense. However, this does not necessarily insinuate you have a broad accounting background. It may be in your businesses best interest to hire a professional accountant and here’s why:

Keeps you on track

Hiring a professional accountant keeps you on track with all of your payments, business expenses, bookkeeping, and financial development. Having someone who handles your finances also decreases the potential for your business to be in financial risk because it eliminates the possibility of errors occurring. Bookkeeping records are essential in any small business. Not only does it record your sales, purchases and daily expenses, but it also keeps track of all financial events that occur within your business. Having a personal accountant allows you to have a detailed record of all financial transactions that take place, plus you can foresee potential financial gains or even losses.

Helps during confusing tax times

Tax forms can be tedious and often times extremely confusing to someone who is not familiar with how the system works. Having a personal accountant can help make sure that all of your ducks are in row, the correct paperwork gets filed, and that you don’t fall behind since they are specifically experienced in tax matters. In addition to doing your taxes for you, professional accountants can guide you and give advice on any tax-related issues or decisions. No one wants to deal with the IRS, and a personal accountant practically guarantees you’ll never have to have that concern.

Can open doors to other professionals

Working with a professional accountant can have benefits in ways that you may not have thought about previously. They may be able to suggest like-minded or similar professionals in your area of business to work with, especially if your business is taking on more clients and looking to expand. On the other hand, if you are looking to hire or contract for specific work, your accountant may have a connection or know someone who could become a valuable asset to your business through their varied clientele.

Can mentor on financial decisions

Keep in mind that professional accountants are exactly that – a professional in their field of work. They may have great advice about investments you are planning on taking part in, and they could know your company inside and out and guide you on the best decisions to make depending on your financial standings and goals. If you are a new business owner, an accountant may offer useful strategic planning tips and show you how to set up a business structure to ensure your company to be financially stable.

Allows you to focus on what you do best – running your business

When you have an expert focusing on your accounting and financial needs, you are able to take the time that you would have spent struggling on an area you don’t excel in, and put it to good use on growing and tending to your businesses. Having an accountant ultimately helps you continue to run things smoothly and avoid any major financial crises.

Having a reliable personal accountant can benefit your business in multiple ways. If you are considering hiring an accountant, or are looking to talk to someone about what your options are when it comes to someone else handling your financial needs, feel free to contact us. Together, we can invest to make your financial future secure.