Skypass Consultant Services

01/04/2021

As most things in life a check list helps keep things organized. If you are an entrepreneur the first three are a no brainer. The last item is most times over looked till tax time or when applying for a loan. Understand when you go to a CPA and your books are not maintained he/she is charging you extra and outsourcing to a bookkeeper before they even attempt to file your tax. No bank will have a conversation with you if you can’t prove the validity of your business. Let’s have a conversation to see if my services are a good fit for business. Schedule your FREE 1 hour consultation today. #accountant #bookkeeper #taxseason #ppploans #virtual #texas #sanantonio #finance #bankloan

01/04/2021

Are you thinking about applying for the new round or PPP loans? Do you meet the minimum requirements? Are your books in order to even apply? Understand it’s a process to get these funds and you must stay in compliance once received. Let’s chat to see if my services are a great fit for your business needs.

12/27/2020

Chicago Business Owner Struggling After Thieves Depleted His Life Savings and Bank Won't Reimburse the Funds

It’s Sunday but this article is worth the repost. This is why closing your books monthly and doing a bank reconstruction is important. No reason a theft should be able to drain your entire bank account over months.

https://atlantablackstar.com/2020/12/25/chicago-business-owner-struggling-after-thieves-depleted-his-life-savings-and-bank-wont-reimburse-the-funds/?fbclid=IwAR3yC0BqUwesfCdne--q35QdAPkzIKssL2PFVaX88CrQPOtizEdznrQ6rq8

A small business owner in Chicago lost his life savings after thieves stole thousands from his Chase bank account for several months. Edward Swanigan,

12/23/2020

IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year

Have you been keeping good records this year? Are you ready for tax season? If you paused to answer these question then reach out we can help you get organized and ready for your CPA.

https://www.bloomberg.com/news/articles/2020-11-17/irs-plans-a-50-ramp-up-in-audits-of-small-businesses-next-year?utm_source=url_link&fbclid=IwAR2GybalKq00a4CjtXmXGaZtrrKxVt0LrLni8Js-b8N9DMGAHOpsSkF44cs

Photographer: Bloomberg/Bloomberg Business IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year By Laura Davison November 17, 2020, 1:20 PM EST 2:25 IRS Plans a 50% Ramp-Up in Audits of Small Businesses Next Year By Laura Davison , November 17, 2020, 1:20 PM EST IRS starts at low base; ra...

07/06/2020

All my Texas business owner, now is the time to start gathering your sales records and getting ready to file Qtr 2 Sales & Use Tax they are due July 20. Even if you have no sales if you have a permit you must file a $0 return. #bookkeeping #skypassconsulting #accounting #salesandusetax #tax #texas #virtualbookkeeping

06/03/2020

It’s business day 3 of the new month. For most small to medium businesses you should be officially closed with May. That brings us to the last month of the first half of the year. Where do you stand financially? Do you know how much you’ve earned this year? What about how much you spent? Let us help give you a financial check up and help propel you to finish 2020 strong.

05/27/2020

As of today you have 3 business days left in the month. You should be wrapping up your May and posting JE’s to the ledger...but here’s a question what’s a JE??? 🧐🧐🧐 Let’s discus how you close the month or what you should be doing to close the month. Contact me today for a #FREE 30 min consult. #accounting #bookkeeping #smallbusiness #collection #backoffice #sanantonio #virtual #texas

05/21/2020

How much time (hours) do you spend a month doing your own bookkeeping?

05/15/2020

Is this you? Don’t let this happen to your books. No business can run efficiently on hope and prayers. Hire a bookkeeper to help manage your back office while you focus on the product/services. We are currently offering #FREE 30 min consultation to see if our services are a good fit for your business, contact us today to schedule your appointment. #bookkeeping #accounting #financialservices #smallbusiness #sanantonio #texas #virtual

05/14/2020

Invest in your back office. So many entrepreneurs don’t realize that they are bleeding cash because they can’t see how much they are spending to make a sale. We are taking new clients reach out for a #FREE 30 min consult of our services. #bookkeeping #accounting #entrepreneur #smallbusiness #skypassconsulting #finanicalknowledge #texas #sanantonio #sanantoniosmallbusiness

05/10/2020

Skypass Consultant Services's cover photo

04/08/2020

How is your business doing during this COVID-19?? Now is the perfect time to get some back office work done. Set up an free 30 min consultation to see how we can help organize your book and build a better financial foundation to propel you forward.

04/06/2020

Happy Monday!!!! It’s it’s the 4th business day of the new month you should be preparing to soft close today.

A soft close allow you to see where the prior month ended as well as serve as a stoping point for entries into AR or AP. You can do accrual JE’s if you use an accrual base accounting, before you officially close.

02/19/2020

Who has contracts with the Government??? Are you unsure how government accounting works? We can help, with over 10 years in government contract finance working with multiple branch’s of the federal to state to city government.

10/11/2019

Have you closed September??? We are at the 9 business day of the month, if you haven’t completed a hard close, you should have a soft close done.

10/03/2019

Are all your receipts for the year tossed in a shoebox??? Let us get your books in order and organize for tax season and beyond. Contact us today to schedule a consult.

10/02/2019

We are officially in the final quarter of 2019. Are you ready for 2020? Are you ready for tax season?? Contact us today for a free 30 min business consult to see if our service fit your business needs.

09/18/2019

Transactions, kind of an open end word.

Transactions include purchases, sales and payment to/from your company.

09/17/2019

Q...What do bookkeepers do????

A....We ensure all your company’s expenses, income and transactions are recorded properly to your books. We also reconcile the financial accounts monthly. I also offer a cash flow report with six week projections.

09/06/2019

We are on vacation now through Sep 12. No emails or phone calls will be answered until we return. Thank you and enjoy your week...

09/05/2019

Determine Which Accounting Method You Will Use...

There are two standard systems of accounting you can use for your business, cash basis accounting and accrual accounting.

Cash accounting records transactions at the time cash actually changes hands and is usually only recommended for businesses which do business strictly in cash payments.

The accrual method uses the matching principle to record revenues and expenses in the period they occur, regardless of when payments are made or received. The accrual method can be a bit more complicated, but is usually the best choice for any business which will be invoicing clients.

Another acceptable option is modified cash basis, which is between cash and accrual. Modified cash basis means you are on cash basis except you record bills in Accounts payable and you send out invoices to clients which means you have Accounts Receivable on the books.

You should determine which system is appropriate for your business before you conduct your first transaction.

08/29/2019

Keep Track Of Cash Payments...

Any cash received should be paid into the business bank account or petty cash before spending it.

It can be tempting to take the cash right away to purchase supplies but this might cause a mess in the bookkeeping system.

For example, the bookkeeper/owner might:

Forget which customer paid the money which can lead to some embarrassment if the customer is phoned some weeks later for payment... and they have already paid! It could also appear as tax evasion because the income is not being declared in the system.

Or

Forget to include the purchase in the books - these expenses definitely need to be entered in to the accounts to help keep your taxes down!

08/22/2019

Don’t Overlook Managerial Accounting...

Many small businesses tend to focus their accounting on taxation and compliance. That’s fine, and obviously necessary, but it’s also important to work with your accountant and bookkeeper to ensure that you have measures in place to allow for managerial accounting. If you have the ability to access and manipulate your accounting data in a way that readily informs your business decisions, it can help you plan for growth.

When small businesses get started, they are typically in “crisis mode,” simply trying to cope with operational challenges as they come to them. However, entrepreneurs should take the time to structure accounting categories and procedures that allow for easy analysis, trend spotting, and business planning, in addition to simple tax compliance. The benefits of making time to create a more robust accounting infrastructure from the start will return exponential benefits, allowing easy scalability and growth.

08/15/2019

Automate whatever you can...

Entering data into spreadsheets and reconciling numbers manually is so old school. Use cloud-based bookkeeping software, and do your business banking online. That way, you can sync your bookkeeping software with your business bank account so you always have accurate, up-to-the-minute records. Plus, with the cloud, your critical financial data is backed up safely off-site.

08/08/2019

Keep records of business expenses...

So many changes to the tax code were made in 2018 that you should consult your accountant for guidance on what kinds of expenses you can deduct. For anything you think you’ll be claiming, maintain detailed records; save time by scanning and digitizing receipts. You can also simplify expense tracking by always using a business credit card for business purchases.

08/01/2019

Keep a close eye on accounts receivable...

When customers don’t pay on time, your business’s cash flow can dry up fast. Pay attention to when your receivables are due and contact late-paying customers right away to nudge them along. Even if a customer is having financial problems, you may be able to set up a payment plan to get at least some of what you’re owed.

07/25/2019

Stay on top of tax deadlines....

To avoid getting caught short, plan ahead and set aside money for any anticipated tax bills. Pay on time so you don’t face fines. The IRS website’s tax calendar for businesses can sync with your own cloud-based calendar so you never miss a deadline; it can even send you reminders a week or two before a payment is due.

07/18/2019

No time like the present to give your business a check up. Review your annual goals, marketing strategies, see what’s working what’s not. Make adjustments where needed to end the year in the black.

07/17/2019

Skypass Consultant Services

01/23/2018

We are over halfway done with January, do you know where your cash flow stand????

01/22/2018

It’s been a long time coming, but I know a change gone come....

Sam Cook

01/19/2018

We made it to Friday!!!!! Enjoy your [email protected]@@@

01/18/2018

How many of you realized on Dec 31 that you didn't keep up on your books like you thought??? Did you know that CPA charge more because he has to clean your books before he can start on your taxes? But here's a better question did you know how mush liquid cash you had on hand verses "revenue" and any giving moment last year???

01/18/2018

Smile, breathe and go slowly....
Thich Nhat Hanh

01/17/2018

Is it to late to say Happy New Year????

Well I'm say it anyway Welcome to 2018, how's the new year treating you thus far???