Even the best accounting and bookkeeping systems are subject to errors. These errors could cause thousands of dollars and more in lost business revenue. The monetary losses only grow larger as inadequate business operational processes continue to lose cash dollars over longer stretches of time.

To catch these common accounting and bookkeeping errors, the top professional CPAs recommend that companies complete self-audits on a regular and ongoing basis. This checking process can give business owners a reliable sense of the business’s current operational health.

Audits can identify and pinpoint cash flow leaks and lost profits. This valuable information can then be assessed and evaluated to determine potential causes of the inadequate operational results. Company leaders can then implement appropriate and effective business solutions to right these accounting problems.

One huge problem that many first-time business owners make is to mix their personal finances with their business finances. This is a recipe for financial disaster. Business leaders should immediately set up separate credit and bank accounts for business matters and for personal matters.

Every purchase for the business needs to be paid out of the business funds, and personal purchases should be paid for out of those personal accounts and funds.

It is easy to mix these up if there is not a valid and easy-to-track strategy in place to prevent this mixing of funds and asset resources. One smart move can help business owners protect their company funds. Never pay business-related expenses, creditor debts, or purchases with cash payments. Use a business credit card or bank account used only for business transactions instead.

Beyond dealing with the finances and bookkeeping records for typical yearly or bi-yearly reviews, our experienced CPAs focus primarily on developing precise business valuation reports that do more than just spouting current numbers.

Our team will help you start thinking about future opportunities and moves that your company may take. This kind of proactive business consultation service has been a valuable tool for helping clients when planning to expand their small business.

A qualified and seasoned CPA can be a valuable resource to have on your business team of experts. These accounting specialists are trained to look for patterns and indicators of everything from a flawed operational accounting method to outright employee theft or misuse of company funds.

Here are some simple and complex tasks an experienced bookkeeper can assist companies with that should be seriously considered by businesses everywhere.

These bookkeeping tasks can include:

• Basic Bookkeeping Services

• Overall Business Valuation

• Forecasting

• Fraud and/or Employee Theft or Misuse of Company Funds

• Commercial Damages

• Forensic Accounting Services

• Due Diligence

• CFO Outsourcing & More

All of these accounting and bookkeeping services provided by our qualified professional CPAs can help to optimize your company’s financial performance. Our experts can help with regular bookkeeping and maintenance-type services as well. When you choose Neumeister & Associates, you can select the service level appropriate for your business, set the schedule, and determine the exact CPA services that suit your unique business’s needs. Call us today for a complimentary consultation to review services that fit your needs.

Do not risk losing any of your hard-earned business profits due to fraud, theft or inadequate bookkeeping and accounting practices. Take time to consult with a reputable full-service CPA and bookkeeping service based in the Chicago area.

This successful CPA service offers a wealth of practical business accounting and bookkeeping services that range from simple maintenance of company assets and finances to the more complex services that include forensic accounting, legal representation for court-related accounting or bookkeeping matters or fraud investigative services among many others.

Contact Neumeister & Associates, LLP at (818) 478-3052 for further information or call to schedule a consultation appointment.