We’ve heard it a thousand times: people love running their business, but they hate the paperwork that comes with it. Fortunately at TFO, or Total Financial Outfitters, we take that off your plate by offering our experience in bookkeeping, financial forecasting, budget setting, statement preparation, and a full range of financial services. Located in Dallas Fort Worth, we can act as bookkeeper and accountant for all of our neighboring businesses in Dallas and the surrounding areas by being your part-time or full-time CFO (Chief Financial Officer).
TFO Solutions Bookkeeping Services
TFO is your one-stop-shop for all of your bookkeeping needs. We help our clients set up and implement financial structures and accounting practices to drive up profits and promote growth. We offer the following part-time CFO and bookkeeping services for your business:
Accounts Payable and Receivable Transactions
One of the most important jobs of a bookkeeping service is to keep track of a general ledger and to track accounts payable and accounts receivable. Accounts payable is the money the business owes to suppliers, vendors, and even the government. Accounts receivable is the money customers owe to the business.
Our team records this income and expenses. We also make note of additional details such as the quantity and type of item sold, as well as track sales tax.
Along with accounts payable, we help businesses keep track of bills and ensure that they get paid on time, every time as part of our full-time and part-time CFO (Chief Financial Officer) services.
Customer Invoicing Statements
When it comes to accounts receivable, our team keeps detailed records of customers and what they owe. From this, invoice statements are generated and sent out.
If a customer misses or neglects payment, the team at TFO follows up and ensures payment is made.
One of the most important and tedious tasks of a business owner is payroll. With the TFO team, we keep an organized list of paid employees along with their salaries (or wage rates). We process payments on time every week or two weeks, depending on company preference. This includes processing wages with the proper benefits and taxes applied.
Balancing the Books
It’s not uncommon for the bookkeeping records and bank statements to have a discrepancy from time to time. When this happens, our part-time CFO team makes reconciliations, going line by line to find and correct any discrepancies.
If requested, we also perform monthly closing tasks. This may include preparing financial reports, reconciling the bank account, updating accounts payable and receivable, reviewing petty cash, looking at revenue and expenses, and other financial tasks.
Annual Tax Filing, 1099, and W2 Processing
Along with monthly processes, we help fulfill those annual tasks, as well, specifically when it comes to taxes. We keep the process simple by having all the paperwork and documents organized and accessible for your tax filing. We help create and print the 1099s and W2s for all of your employees.
Contact Us Today For Bookkeeping Services Near You
If you’ve wondered where to find bookkeeping services nearby, look no further than Total Financial Outfitters located in the Dallas/Fort Worth Metroplex. With our extensive knowledge of accounting and bookkeeping and our passion to help businesses with our full-time and part-time CFO services, we are confident we are here to meet and exceed your expectations. Give us a call today!