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Monthly Bookkeeping, Payroll, Financial Statements & Tax returns for Business owners
Meru Accounting is a CPA firm providing complete outsource bookkeeping and accounting solutions to CPAs and small & medium-sized businesses across the United States, United Kingdom, Australia, New Zealand, Hongkong, Canada, and European countries.
Regular Management Accounts for your Business, We serve bookkeeping services for different industries.
Set up your accounting software in a day through our checklist, for converting a client from your legacy software to Xero.
We help CPAs to reduce 50 % of their cost by outsourcing recurring tasks to us, with trust and security.
We do Payroll for all countries in all software and comply with all tax formalities of the IRS, HMRC, ATO, etc.
Manage your Payables on daily basis, cost-effectively with reduced invoice discrepancies and disputes.
We do BAS, VAT, GST101A, Sales Tax, etc. reduce attribution errors and costs, and ensure indirect taxes are handled correctly.
Accountz stands out as a remarkable accounting software that caters to the evolving needs of businesses in a digital age. Its core strength lies in its ability to offer a seamless and intuitive user experience. Accountz software understands that financial management is not merely about number crunching but also about providing businesses with a clear picture of their financial health. It excels in this by offering a wide array of features, from creating detailed financial reports to facilitating efficient expense tracking, all designed to empower businesses to make informed decisions and achieve financial success. Accountz is designed to be adaptable, offering a valuable tool for both small startups seeking simplicity and large corporations demanding a comprehensive suite of financial features.
The significance of Accountz becomes even more pronounced when considering its commitment to automation. Automation is at the heart of its functionality, reducing manual work and the potential for human error. With robust features for budgeting, forecasting, and managing financial data, Accountz provides a holistic solution that empowers businesses to take control of their finances. As the business landscape continues to evolve, Accountz remains at the forefront of financial management, simplifying the complexities of accounting, and allowing businesses to focus on growth and innovation while ensuring financial stability.
Accountz software offers a wide range of features designed to streamline financial management and provide businesses with the tools they need to effectively track, analyze, and manage their finances. Some of the key features of Accountz software include:
Using Accountz Software can offer several benefits to your business:
Meru Accounting’s specialization in using Accountz results in a holistic financial management solution that empowers businesses with the tools, expertise, and support required for efficient financial operations, compliance, and strategic growth. We ensure that businesses have the financial services they need to navigate the complexities of the modern financial landscape effectively.
In conclusion, Accountz software stands as a versatile and user-friendly solution for businesses seeking efficient financial management. With a range of powerful features, including double-entry accounting, multi-currency support, bank reconciliation, invoicing, and expense management, it caters to businesses of all sizes. Accountz provides valuable tools for budgeting, tax management, inventory control, and comprehensive financial reporting. Its integration capabilities enable seamless data sharing with other software solutions, enhancing overall operational efficiency. The software prioritizes data security, ensuring that sensitive financial information is safeguarded.
Meru Accounting offers businesses a comprehensive and synchronized approach to financial management. Our expertise in Accountz’s feature-rich platform helps us provide comprehensive accounting and bookkeeping services. Our services allow businesses to have the tools and insights needed to maintain accurate financial records, make informed decisions, and adhere to regulatory requirements. Contact Meru Accounting and achieve financial proficiency in your business with Accountz software.
Accounting for the construction industry is different from that in other industries. A normal industry follows stereotypical accounting methods and they work for them, but when it comes to constructing industry, the scenario is vividly different.
In the construction business, people work at new locations, and work done is quite different in nature, for regular terms. There are different factors that affect cost in the construction business like travel time, packing of tools and equipment, and delivery of materials at the job sites, which are all variable in nature.
In a construction business, the method of accounting counts revenue on the base of the profit estimation and what percentage of the project is completed, this is known as the Percentage of completion method. So overall accounting for construction business is quite complex and unique, also because it has to accurately track all the expenses, costs, and income for all the different job sites.
Categorization of sales: Unlike the regular business, the construction business stands for a wide range of selling products like engineering, coasting, labor, designs, service provided, etc.
Expense calculation: In a typical business, the expenses are mostly pre-decided or can be predicted but in a construction business, this is never the case. Even the categorization of the goods sold is differently Accounted for in Construction Business.
Knowing the break-even point: break-even point can be achieved by the balancing relation of income and expenses, but in the construction business, it’s very complex as there are already too many categories of items that make it hard to comprehend.
We at Meru Accounting have specialization in Accounting for Construction Industry, house flipping business, and turnkey project accounting. We understand the different requirements that a construction business needs.
Accountant faces various challenges in performing accounting procedures. Such challenges arise due to the uniqueness of the industry. Experienced professionals and software such as Xero etc. can assist you in tackling issues the following issues:
In the construction business, multiple projects are simultaneously working at one go and are usually for a longer duration which may underestimate the project cost. The project may end up with additional use of material or equipment that increases the project cost, but a big blow is the labor cost. Imagine just a delay of a week or month in your budget or estimated time frame can cost huge in covering the additional labor cost.
There is an overhead cost that covers a significant portion of the construction project cost. Overhead costs include office costs, space rental, equipment, and labor also. The needs of the construction vary from time to time and from job to job, it may need different things at different time frames, so it becomes difficult to have a vivid picture of the overall overhead cost. An accurate and efficient estimate at place cannot be done without determining the profit of your business.
A construction company recognizes revenue on the completion of the project, but the expenses are recurring throughout the project. It creates confusion about the profitability of the project and also takes a toll on cash flow if not cautious. For example, if you generate a bill on completion of the project, the stacked expenses throughout the project can decrease your cash reserve and end up with the illusion of profit.
Projects usually in the construction business have last-minute changes. Changes like material availability, site condition, additional equipment, etc. can have serious cost implications in the project and change the original plan. Clients may come up with add-on changes known as scope creep that create problems.
To tackle such issues, the project manager must coordinate with the accounting team to determine if the additional cost is feasible and does not affect profitability. You can make your client happy but at the same time can control costs also.
We track, manage, report and categorize our client’s costs and expenses which ultimately help our clients to know which project to opt for, which bid can be turnout profitable, how to manage the billing procedures, and how to utilize resources to get the maximum return on investments.
We track our clients’ expenses and cost per property being developed by using class tracking or tracking categories in software like Xero, QuickBooks, etc. We also build a dashboard of different categories so that our clients can also track various expenses and costs from different construction sites. That saves the valuable time of our clients and is very easy for them. We do the bookwork so that our clients can focus on their construction fieldwork without any worries.