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TSPA on the importance of thorough bookkeeping

Posted on June 4, 2019

Business bookkeeping is much, much more than simply following an off-the-shelf bookkeeping template.

According to Becky Massa, Teipen Selanders Poynter & Ayres’ Bookkeeping Business Manager, Utilizing QuickBooks is simply not enough for growing and tracking a small-to-medium sized business.”

“Business owners often don’t fully understand how to precisely record transactions to accurately track their business performance,” Massa continues. “Having a bookkeeping team that understands accounting concepts, QuickBooks functionality, and general business regulations is tremendously important. Even a small error can lead to big problems with state and federal regulatory agencies, so getting your books right is critical to your business survival and success.”

What we do at TSPA that is different than many of the other CPA businesses in Indy is that we pair you with a team of expert bookkeepers and accountants to manage your books. You are not just getting one bookkeeper, but instead, a deeply experienced staff. The more complex and specialized your work, the more advanced the skill set. Our monthly oversight team helps keep you on track. We help you scale your systems and accounting to make sure you are poised for growth and success.

According to Massa, there are three hierarchical levels of financial statement business recording produced by the Teipen Selanders Poynter & Ayres team:

  • The highest level of reporting is an audit, generally required by lenders or governmental agencies.
  • Reviews are a popular request from lenders for all types of businesses, and provide limited assurance that there are no material adjustments needed.
  • The compilation is the lowest level of financial statement service and is usually used internally by management.

Of course, there is a wealth of other financial work TSPA can provide, too. From basic to complex, we handle the whole gamut, from class reporting and job costing, projections to financial statement preparation, and consulting. You get a staff that understands your business, ready to help biweekly, monthly or quarterly. And deep team expertise for any unexpected issues that come up.

If you’d like to discuss how we can help you with your bookkeeping needs, give Becky Massa a call at 317-598-6700.