Minneapolis & St. Cloud, MN
Regardless of your industry, size, or growth stage, all businesses depend on their accounting systems for reliable and accessible financial information. Without it, business owners are making uninformed decisions that can negatively impact their bottom line. When set up and functioning correctly, your accounting and bookkeeping system will provide critical insights about your company’s financial health and empower you to make strategic decisions.
LB Carlson is among the few firms of its size to offer strategic bookkeeping services in addition to a full range of accounting services. Our clients range from new business start-ups to established organizations in various industries. Whether you want to outsource a few accounting services or leverage our entire suite of accounting and bookkeeping services, we can help provide a clear and accurate financial scope that will contribute to the success of your business.
How we can help
Outsourced Accounting and Bookkeeping
One of the most critical roles in a company is finance, accounting, and bookkeeping but finding the right individuals can be time-consuming and costly. Outsourcing all or some of your accounting and bookkeeping functions can be an excellent solution for companies that:
Whether it is reconciling your month-end, helping enhance your internal controls, mentoring your controller, or stepping in as a part-time CFO, we can offer the right amount of support a growing company needs.
Our bookkeeping professionals can help find ways to save you money through fiscal efficiencies, taxes, and financing by preparing and analyzing financial statements or executing your monthly accounting functions. Before you hire your next bookkeeper, controller, or CFO, contact our consultants to discuss the benefits of outsourcing.
Accounting System setup and support
If you have found yourself struggling with accounting software, we can help with your system setup and training. We have extensive knowledge in QuickBooks and have QuickBooks Pro Advisors on staff to make your job easier. We are proficient in various accounting software packages and can help ensure a proper setup and provide ongoing support.
Financial Reporting
Did you know that your accounting system can produce powerful reports to help you make informed decisions and identify red flags before they become problems? We can help you leverage the powerful features found in your accounting system to help you manage, share and deliver your critical business reports. Our consultants will work with you to harvest the information locked in your software from minor changes of existing reports to complete report design.
Why LB Carlson?
At LB Carlson, we are experts at keeping your business moving forward. Our consistent communications, strategic big-picture thinking, and experience serving thousands of businesses in the greater St. Cloud and Minneapolis communities make us different than other accounting firms.
Consider us to be your trusted accounting resources if:
Are you just starting your business? Maybe you received the notice that QuickBooks Desktop/Intuit payroll will be retired after this year and wondering what your options are. Do you currently have QuickBooks Desktop and are wishing you could have multiple people access the data from other than your computer?
Many business owners generate financial statements, at least in part, because lenders and other stakeholders demand it. You’re likely also aware of how insightful properly prepared financial statements can be — especially when they follow Generally Accepted Accounting Principles. But how can you best extract these useful insights? One way is to view your financial statements through a wide variety of “lenses” provided by key performance indicators (KPIs). These are calculations or formulas into which you can plug numbers from your financial statements and get results that enable you to make better business decisions.
In Notice 2020-71, the IRS recently announced per diem rates that can be used to substantiate the amount of business expenses incurred for travel away from home on or after October 1, 2020.
No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid:
On June 10, 2020, the AICPA released guidance, to address how borrowers of Payroll Protection Program (PPP) Loans should account for these loans in their GAAP financial statements. The legal form of the PPP loan is debt, however, some believe that the loan is, in substance, a government grant. These conflicting opinions have led the AICPA to provide PPP Loan borrowers with options to account for the PPP Loans. Borrowers can account for the PPP Loans as:
On May 23, the Small Business Administration (SBA) issued an interim final rule for the Paycheck Protection Program (PPP) that included the loan forgiveness application guidance released May 15, as well as other updated guidance.
