Minneapolis & St. Cloud, MN
Regardless of your industry, size, or growth stage, all businesses depend on their accounting systems for reliable and accessible financial information. Without it, business owners are making uninformed decisions that can negatively impact their bottom line. When set up and functioning correctly, your accounting and bookkeeping system will provide critical insights about your company’s financial health and empower you to make strategic decisions.
LB Carlson is among the few firms of its size to offer strategic bookkeeping services in addition to a full range of accounting services. Our clients range from new business start-ups to established organizations in various industries. Whether you want to outsource a few accounting services or leverage our entire suite of accounting and bookkeeping services, we can help provide a clear and accurate financial scope that will contribute to the success of your business.
How we can help
Outsourced Accounting and Bookkeeping
One of the most critical roles in a company is finance, accounting, and bookkeeping but finding the right individuals can be time-consuming and costly. Outsourcing all or some of your accounting and bookkeeping functions can be an excellent solution for companies that:
Whether it is reconciling your month-end, helping enhance your internal controls, mentoring your controller, or stepping in as a part-time CFO, we can offer the right amount of support a growing company needs.
Our bookkeeping professionals can help find ways to save you money through fiscal efficiencies, taxes, and financing by preparing and analyzing financial statements or executing your monthly accounting functions. Before you hire your next bookkeeper, controller, or CFO, contact our consultants to discuss the benefits of outsourcing.
Accounting System setup and support
If you have found yourself struggling with accounting software, we can help with your system setup and training. We have extensive knowledge in QuickBooks and have QuickBooks Pro Advisors on staff to make your job easier. We are proficient in various accounting software packages and can help ensure a proper setup and provide ongoing support.
Financial Reporting
Did you know that your accounting system can produce powerful reports to help you make informed decisions and identify red flags before they become problems? We can help you leverage the powerful features found in your accounting system to help you manage, share and deliver your critical business reports. Our consultants will work with you to harvest the information locked in your software from minor changes of existing reports to complete report design.
Why LB Carlson?
At LB Carlson, we are experts at keeping your business moving forward. Our consistent communications, strategic big-picture thinking, and experience serving thousands of businesses in the greater St. Cloud and Minneapolis communities make us different than other accounting firms.
Consider us to be your trusted accounting resources if:
Current market conditions around COVID-19 have reduced workload and forced difficult cost-saving decisions. In addition, heightened marketplace competition makes it critical that you understand what really drives your profits. A strategic cost review grounded in the knowledge of your cost structure, workflow and productivity measures can help managers focus on activities that bring the most value and allow you to align your pricing strategies to maximize profits.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed into law on March 27 provides $349 billion in funding for the Small Business Administration (SBA) in an effort to provide assistance and relief to America’s small businesses struggling under the weight of COVID-19. The Act included a paycheck protection provision for small businesses by providing additional funding to the SBA for specific areas of need and expanding the SBA’s 7(a) loan program.
Small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA). President Trump has called for an additional $50 billion in funding to the SBA’s lending program from Congress. While the $50 billion is not yet approved, the SBA can issue an Economic Injury Disaster Loan declaration, thanks to the Coronavirus Preparedness and Response Supplemental Appropriations Act.
Knowing what to expect before starting the loan process will help prevent unnecessary errors and rework. Completing the application process quickly and accurately will be key as there will be high demand and processing times will likely increase. We’ve put together the following summary of what business owners can expect when applying for an SBA loan.
The Families First Coronavirus Response Act (FFCRA) signed on March 18, 2020, made unprecedented expansions to paid sick and family (childcare) leave provisions in light of the challenges for the American workforce due to COVID-19. The expansions to paid sick and family leave cover employers with up to 500 employees, and tax credits are available for up to 100% of qualifying wages paid. Eligible employers are granted a grace period by the DOL to come into compliance with the Act as long as employers act reasonably and in good faith during the grace period.
The President signed the latest COVID-19 relief bill on March 27: The Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill brings with it several elements of relief for businesses, employees and families, in an effort to maintain livelihoods throughout the crisis and after. The expected cost of the bill is nearly $2 trillion and includes nearly $500 billion for in economic distress relief for businesses, states and municipalities.
Qualified small businesses are now eligible for up to $2 million in Economic Injury Disaster Loans from the Small Business Administration (SBA) after President Trump called for an additional $50 billion in funding to the SBA’s lending program from Congress in response to COVID-19. While the SBA waits for the $50 billion to be approved, they can deliver an Economic Injury Disaster Loan declaration in response to the Coronavirus Preparedness and Response Supplemental Appropriations Act recently signed by the president.
