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Professional Association of Small Business Accountants (PASBA)

Cheryl A. Reuter, EA has been a member of the PASBA Association since November 2004. Over the years the policy and procedures shared at the Association Conventions and Regional Meetings has been invaluable. Reuter Accounting & Tax Inc. is striving to instill the vision, values and systems of the PASBA Association into our practice. We look forward to sharing what we have learned to help your business become the success you desire.

Core Values:

Competence- Improving our knowledge base is one of our firm's key goals. We continually learn more to help our clients make and keep more of their money.

Teamwork- Team above self in all that we do. We cannot achieve our goals for our clients and our organization without each other.

Ethics- We will perform our duties understanding that our actions must pass the strictest scrutiny of our clients and our peers.

Caring- We are here to serve our clients. We will not do anything that would knowingly harm our clients.

Meaningful Value- Everything we do must have value to our clients beyond the fees that we charge them. We strive to provide the most value for the fees that we charge.

Accounting is really quite simple and straight-forward. You have money coming into your business in return for the goods and/or services you provide; and you have money going out of your business to pay for your materials, your employees, your equipment and physical facilities (i.e. the costs that you incur in providing those goods and services).

  • If you have more money come in than goes out, you make a profit. Good job!
  • If you have more money go out than comes in, you have a loss. Too bad!

Unfortunately, when you throw in Inventory, Accounts Receivable, Accounts Payable, Depreciation, and a lot of the other time-related aspects of accounting that affect your financial reports, it just doesn't seem quite that simple.

But, when you own a business, accounting is something you have to do! Using a manual bookkeeping system can be frustrating and time-consuming, even if you have the background for it. A computerized accounting system, such as QuickBooks© or Peachtree Accounting©, can help. But it probably won't save you much time. And it won't turn you into an accountant any more than purchasing a computerized design or CAD system will turn you into an architect or engineer. In fact, without proper setup and installation, computerized accounting systems often leave you just as confused, but at a much lower level of detail.

To manage your business profitably, you need the right financial data, advice and services. But you may not have knowledge or ability to do it all yourself -- and if you do, that still might not be the best or most profitable use of your time. Our accounting firms can provide you with the accounting, consulting, payroll, tax services, and other business services you need to profitably manage and grow your company. Each of our member accounting firms want to be part of your success. Count on our members to listen, give you top priority, and respond promptly with cost-effective services specifically suited to your personal capabilities and business needs.

What is the PASBA System?

A Fundamentally Sound Accounting Service

What constitutes a "Fundamentally Sound Accounting Service"? What are some of the things you should expect from your bookkeeping system and your accounting firm?

  • Correct and Timely Financial Statements:
    Many times business owners get intimately involved in the details of the business and have a difficult time backing out to take the "long view." Periodically, you need to take a look at the "Forest" rather than the "Trees" -- to step back and assess how your business is doing. You need information in order to do that. This information could include the following:
  • A balance sheet and an income statement, at least on a monthly basis -- to give you the financial overview of how you are doing.
  • Open invoice and unpaid bills reports -- so you know who owes you money, who you owe money to, and when they are due.
  • Detailed transaction listing or ledgers to help understand what's behind the figures on your income statement and balance sheet.
  • Bank reconciliations for each of your bank accounts -- so you know exactly how much you have in the bank.
  • Timely Reporting:
    A successful business owner operates "in the future," constantly planning for sales, marketing, purchases, expansion, etc. Yet, accounting is essentially a "historical" activity.
  • You should get your financial statements and reports by the middle of the following month -- while the information is still relevant and fresh in your mind.
  • If your reports are more than a month behind, they are like "financial archeology" -- they might be interesting, but they won't be particularly useful or relevant.
  • Returned Phone Calls and Regular Contact:
  • When your accountant reviews your financial transactions, reconciles your bank and credit card accounts, and prepares your financial statements, tax filings, and other reports, they learn a lot about your business.
  • You should expect them to share that knowledge with you -- on a regular basis!

If your accounting firm and your bookkeeping systems provide you with this type of information, you are in command -- and you have the tools you need to effectively run your business. If not ... that is a major issue you need to address! A good accounting firm will be invaluable to you.