Small Business Accountants & Bookkeepers in Knoxville, TN

As a small business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.

Each month or quarter we can do the following things for you...

These tasks form the solid foundation of your small business accounting system. You can customize the package of services you receive by adding payroll, tax planning, tax preparation, or any of our other services.

  • Bank Reconciliation
  • Income Statement
  • Balance Sheet
  • Maintaining a Clean General Ledger
  • Consultations

Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date.

Having us reconcile your account each month allows you to...

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your business of responsibility for the shortfall and transfer the risk to the bank. This, alone, is reason enough to perform regular bank reconciliations. Crime exists.
  • Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks and disbursed funds are properly accounted for.

If engaged, we can prepare your income statement.  An income statement, otherwise known as a profit and loss statement, adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period.

An income statement allows you to...

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses.
  • Track dramatic increases in product returns or cost of goods sold as a percentage of sales.
  • Determine your income tax liability.

If engaged, we can prepare your balance sheet.  A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time.

A balance sheet helps you:

  • Quickly get a handle on the financial strength and capabilities of your business
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively
  • Determine if your business is in a position to expand
  • Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses
  • Determine if you need to take immediate steps to bolster cash reserves
  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the discrepancies so your books are always accurate and kept in tip top shape.

We are always available to spend time with you so you fully understand how to interpret and utilize the financial information we provide. Please call us whenever you have a question or concern.

Streamlined Solutions: Your Knoxville Hub for Small Business Financial Success

Streamlined Solutions: Your Knoxville Hub for Small Business Financial Success

Welcome to Bible Harris Smith, P.C., your trusted partner for comprehensive small business accounting in Knoxville. We understand the unique financial challenges that small businesses face and are dedicated to providing tailored solutions to meet your needs. With a team of skilled professionals, we specialize in Small Business Accounting in Knoxville, offering meticulous attention to detail and personalized strategies to optimize your financial health. Whether it's managing Small Business Payroll Tax Services, navigating complex Small Business Sales Tax requirements, or providing expert bookkeeping assistance, our firm is committed to supporting your business's growth and success. Count on us for reliable, efficient, and accurate Small Business Accounting in Knoxville solutions designed specifically for small businesses. At Bible Harris Smith, P.C., we're not just accountants; we're your partners in achieving financial excellence.

Navigating Knoxville's Small Business Tax Landscape: Essential Insights and Strategies

Knoxville's small business tax scene demands a close understanding of local regulations and intricacies. In this comprehensive guide, unravel the complexities of tax compliance specifically tailored for businesses in our area. Delve into the nuances of managing Small Business Payroll Tax Services and strategies to navigate Small Business Sales Tax obligations effectively. Expert insights from Bible Harris Smith, P.C., illuminate key compliance tactics while minimizing Small Business Payroll Tax Services burdens. Highlighting real-world scenarios and success stories, this content equips small business owners in Knoxville with actionable tips and best practices. Discover how adept handling of tax responsibilities not only ensures compliance but also fosters financial stability and growth within the local business landscape.

Navigating Knoxville's Small Business Tax Landscape: Essential Insights and Strategies
The Crucial Role of Professional Bookkeeping for Small Businesses in Knoxville

The Crucial Role of Professional Bookkeeping for Small Businesses in Knoxville

Discover the indispensable role that precise bookkeeping plays in the success of small businesses in Knoxville. Uncover the challenges businesses face without diligent bookkeeping practices and explore the benefits of outsourcing to experts like Bible Harris Smith, P.C. This guide illustrates how meticulous bookkeeping enhances financial transparency, aids in informed decision-making, and ensures adherence to local regulations. Featuring practical insights and a step-by-step approach, empower local businesses with the knowledge to maintain pristine financial records. Learn how leveraging professional bookkeeping services not only streamlines operations but also fortifies the financial foundation of small businesses in Knoxville.

The Crucial Role of Professional Bookkeeping for Small Businesses in Knoxville

Maximizing Profits: Financial Strategies Tailored for Knoxville's Small Business Owners

Unlock the potential for financial growth and stability with tailored strategies designed for small business owners in Knoxville. This comprehensive guide delves into essential financial tactics crucial for enhancing profits and long-term success. Explore effective budgeting methodologies, proactive cash flow management, and astute investment approaches specifically crafted to resonate with the local business landscape. Discover how the expertise and guidance of Bible Harris Smith, P.C. can empower businesses to navigate financial complexities and achieve sustainable growth. Real-world examples and success stories from Knoxville-based enterprises illuminate the transformative impact of implementing these strategic financial maneuvers. Elevate your business’s financial health and resilience while harnessing practical insights tailored to Knoxville’s entrepreneurial climate.

Maximizing Profits: Financial Strategies Tailored for Knoxville's Small Business Owners
  • What specific small business accounting services does Bible Harris Smith, P.C. offer in Knoxville?
  • How can Bible Harris Smith, P.C. assist in navigating Knoxville's unique tax requirements for small businesses?
  • Why should small businesses in Knoxville consider outsourcing their accounting needs to Bible Harris Smith, P.C.?

Our firm specializes in a range of Small Business Accounting in Knoxville services tailored uniquely for each business. We provide comprehensive Small Business Accounting in Knoxville, including bookkeeping, Small Business Payroll Tax Services, and Small Business Sales Tax management. Additionally, we offer financial statement preparation, tax planning, and advisory services to ensure compliance and optimize financial health for small businesses in the Knoxville area.

Understanding the intricate tax landscape in Knoxville is crucial for small businesses. Our team excels in navigating local tax regulations, offering expert guidance on Small Business Payroll Tax Services and Small Business Sales Tax compliance. We provide personalized strategies to manage tax obligations efficiently, minimizing liabilities while ensuring adherence to Knoxville's specific Small Business Payroll Tax Services laws and requirements.

Outsourcing Small Business Accounting in Knoxville functions to our firm allows them to benefit from specialized expertise and focus on core operations. Our experienced professionals offer personalized attention, meticulous record-keeping, and strategic financial planning. By leveraging our services, businesses gain access to accurate financial insights, proactive advice, and support, ultimately fostering growth and financial stability in the competitive Knoxville market.

Bookkeeping Knoxville TN

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