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Why Doing Your Own Payroll is a Huge Mistake

Oct 24, 2018 7:02:00 AM / by Bret Asmussen posted in small business payroll, small business accounting, small business operations

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When you own a small business, it is imperative that you find ways to save money wherever you can. It’s not a matter of want; it’s a matter of need. You take pride in doing your own sales, your own customer service... heck, you might even shovel your own driveway. That’s why it makes perfect sense to do your own payroll, right?

Maybe not. Here’s why it’s a waste of time to sit in front of a blank spreadsheet with your head in your hands. 

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Many Strengths. One Goal. CSI, PASBA, and You.

Sep 11, 2018 6:30:59 PM / by CSI Accounting Staff posted in small business payroll, small business accounting, small business operations

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CSI is a proud member of the Professional Association of Small Business Accountants, or PASBA. CSI Accounting & Payroll has won several prestigious PASBA awards including Small Business Accounting Firm of the Year and PASBA's 2018 Lifetime Achievement award. Here is a short video that highlights the PASBA model and how its service and price model for accounting, bookkeeping, tax, consulting, and payroll provides tangible benefits, especially for small business owners:

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CSI Accounting & Payroll Wins National Award

May 23, 2018 11:21:55 AM / by Brian Paulson posted in small business payroll, small business accounting, small business operations

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It has been a privilege to help many wonderful Minnesota small businesses reach their goals and grow their companies. Your success has given CSI owner, Brian Paulson, the platform to help other accounting and payroll firms come up with better ways to serve their clients through his work with the Professional Association of Small Business Accountants (PASBA).

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Small Business Accounting Methods: Cash vs. Accrual

Sep 20, 2016 8:36:58 AM / by Brian Paulson posted in small business accounting, small business operations

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Small businesses typically fall into two different accounting methods: cash and accrual. Both accounting methods refer to the basic rules and guidelines under which businesses keep their books and prepare their financial reports.

Depending on the legal form of the business, sales volume, extensions of credit to customers, inventory, and tax requirements set forth by the IRS, small business owners need to decide which accounting method to follow.

While some form of record-keeping is required by law, the resulting information can also be useful in assessing the financial health of a business. Although it is possible to change accounting methods down the line, the process can become complicated. That being said, it’s important for small business owners to consult with an accountant early on to decide which method is best suited for their particular situation.

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Hey, Small Business Owner. Why are You Still at the Office?

Sep 6, 2016 9:44:05 AM / by Brian Paulson posted in small business operations

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If you’re like most small businesses, the bulk of the bookkeeping falls on the owner or another employee without an accounting background. The actual work is then pushed aside by more “important” tasks. It’s a tradition that’s hard to break.

As an example, a client of ours recently told us that he previously managed the books after-hours, when the standard workday was done, because that’s the way of life of a small business owner. You can check out the full case study here.

That’s what he learned from his parents, also lifelong small business owners. He admitted that he didn’t realize there was a better option out there, one that would allow him to focus on his business and spend more time with his family.

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5 Bookkeeping Tips For Small Businesses

Aug 25, 2016 8:23:02 AM / by Brian Paulson posted in small business bookkeeping, small business operations

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Accounting can be one of the toughest activities for small business owners, especially for those who don’t have a background in bookkeeping. Following a few simple bookkeeping tips throughout the year, however, can make it much easier to track expenses and file taxes when the time comes.

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Beyond Taxes: How an Accountant Can Provide Small Business Advice

Aug 23, 2016 10:24:36 AM / by Brian Paulson posted in small business accounting, small business operations

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Small business owners often overlook the importance of partnering with a good accountant until they find themselves spending too much time in the back office crunching numbers at the end of a long day.

We tend to hear comments from new clients along the lines of, “I wish I made the decision to work with an accountant sooner” or “I didn’t realize what accounting services included beyond tax prep.”

Great accountants provide valuable small business advice on money management, employment laws, profitability, and financing year round.

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5 Resources for Minneapolis Small Business Owners

Aug 11, 2016 9:37:13 AM / by Brian Paulson posted in small business operations

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The internet is full of online resources for small business owners, but the best resources cater to the local markets. To help you cut through the clutter, we've compiled a list of resources for small business owners in Minneapolis.

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3 Ways an Accountant Can Help You Secure a Small Business Loan

Aug 9, 2016 10:12:13 AM / by Brian Paulson posted in small business operations

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When you plan for a small business loan, you don’t have to go into it alone. You may have forecasts and solid research to support your loan application, but that won’t always ensure success. What do you do then?

Turn to your accountant to help you secure a small business loan! Do you know what your accountant can do for you? Here are three ways an accountant can help you secure a small business loan.

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Benefits of Outsourcing Payroll for Your Small Business

Aug 4, 2016 8:30:00 AM / by Brian Paulson posted in small business payroll, small business operations

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When it comes to managing payroll for your small business, you may be using your own accounting software. While the software offers the necessary features to comply with payroll regulations, the overall payroll process can be complex and time consuming, especially as you begin to hire more employees. Not to mention that mistakes in payroll are commonplace, and even a simple mistake can result in expensive fines.

 

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