The Value of Using One Service Provider for Accounting, Payroll, and Taxes

Navigating the landscape of accounting and payroll decisions is an essential choice for small business owners. There are advantages to bringing these functions together under a single service provider, and TMA Accounting offers a seamless solution. 

Communication Requirements from the Business Owner

Small business owners tell us the biggest challenge in working with accountants and payroll providers is communication. It can be frustrating for the business owner when these two important functions are disconnected and disjointed from each other. Without proactive communication, the business owner can feel as if they’re playing a game of telephone. This challenge can be even worse with larger payroll companies as the customer is known to be…let’s say, less than ideal. 

We have found that proactive communication with business owners makes a huge difference. We work to simplify this process by providing a combined solution for accounting, taxes and payroll. Communication flows between the business owner and our team throughout the year. This helps to ensure that financial information is readily available, sparing business owners unnecessary complexities. 

Benefits for Your Business

Integrating accounting and payroll “under one roof” brings many improvements, including enhanced communication. Unlike dealing with different customer service representatives for accounting, taxes and payroll, having one point of contact makes it much simpler. 

TMA works to get to know the business owner and the business. With a single provider, the accountant will be able to give you insights into your business results. This familiarity allows the accountant to collaborate with the payroll specialist for quick answers or clarifications. Good communication ensures better visibility for the business owner regarding profitability and its implications on the business owner’s tax situation.

Tax Implications

Combining accounting and payroll in one place significantly simplifies the process of completing income tax preparation filings at year-end. TMA is able to prepare business income tax returns early because we are familiar with the business and have much of the year-end information at our fingertips. Many of our business owner clients don’t need to do much at tax time other than review and sign their returns. 

Consolidating the accounting and payroll with one service provider streamlines and enhances efficiency for small businesses. This centralized approach saves business owners from coordinating and communicating with multiple services, enabling the accountant and payroll team to seamlessly prepare and monitor the business’s tax situation. 

If you want to learn more about a service provider that provides integrated solutions for small businesses, book a meeting with TMA Accounting today!