Bookkeeping for SEO Consultants

September 16, 2020 Fusion CPA

We discuss tips to optimize bookkeeping for SEO Consultants.

It's possible to utilize SEO CPAs that specialize in SEO Company accounting. They can also help you automate financial statements, invoicing, and goal tracking with the right software applications. Together with someone that can manage business finances, software can cut the time it takes to maintain business bookkeeping to a minimum.

Today's business owners and entrepreneurs have a broad range of choices of bookkeeping software applications tailored specifically to their particular type of business transactions.

The Variables in Bookkeeping

To outline the differences that occur in bookkeeping, it is important to know how bookkeeping transactions are entered into a bookkeeping accounting system.

The bookkeeping process for some SEO companies are entered in "phases." This simply means that unlike a retail business where customers pay upfront for their purchases, some companies break down their bookkeeping into several phases to be paid by clients on a percentage of the total cost of the project.

In consulting businesses bookkeeping may be recorded either on a per diem or hourly consulting services basis. Thus, a SEO company accounting format might require detailed business transactions to be recorded either as per diem or hourly consulting fees.

Taxation Bookkeeping

In addition to daily business transactions, SEO company accounting includes recording state and federal business and employee taxes. The SEO CPA needs to be knowledgeable in the various types of state and federal taxes applicable to the specific business format.

An SEO CPA determines the basic business operations, how employees are paid and taxes applicable to the operation of the business.

Bookkeeping can become quite complex for SEO consultants if they hire employees on a project by project basis, part-time, or if they maintain a full staff of SEO employees on a full-time basis.

Depending on whether the SEO consulting business is involved in search engine marketing (SEM) which is a component of SEO and PPC (pay per click), the bookkeeping software applications need to address taxes that may apply. In some states, PPC is tax exempt. In other states, a sales tax applies.

Also, it is important to know whether tangible property and/or services are taxable as part of bookkeeping for SEO consultant business owners.

In the U.S., the Internal Revenue Service (IRS) provides a guide for owners of e-businesses.

Know Your Business Bookkeeping Needs

In addition to ever-changing payroll tax laws, maintaining tax compliance can be costly to individual e-business owners.

Savvy consultants simply do not have the time to input, review, and monitor daily bookkeeping records. Yet, they need to know the daily status of their sales, cost of business and employee labor.

The cost-effective way to keep business expenses down is to outsource accounting needs in order for bookkeeping for SEO consultant businesses to maintain state and federal tax compliance and have readily accessible bookkeeping data.

While bookkeeping software can gt you halfway there, are managed best by knowledgeable accounting specialists for optimal results.

Fusion CPA offers a comprehensive tax planning, business advisory and accounting consultancy to grow revenue for SEO companies. Each Fusion CPA team member has acquired extensive knowledge that our clients' businesses rely on. For more details, make a discovery call today.

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