I know that the promise of the New Year is looming large for a lot of you guys, but when it comes to taxes and bookkeeping, guess what?
It’s kind of still 2017 … and will be until you get all your taxes filed and contributions put away.
On the other hand, it is 2018, too, and if there was ever a time to make and keep a resolution, that time is now. Starting a smarter and more organized bookkeeping regimen for the new year is one surefire way to help your business out and save yourself and your accounting team time and money.
In fact, having a fresh set of eyes looking at and helping you to understand your financials might just be the “secret sauce” to putting more money in your pocket this year, even if you aren’t in a high growth industry or your profit margins depend on commodity prices that always seem to fluctuate in the wrong direction.
All too often, at BookkeepWithUs, we see small business owners who have struggled with keeping the books on even a quarterly basis and when the time comes to take the financials to the CPA at the end of the year, the horse is out of the barn on expenses that weren’t controlled properly.
In the end, your financials and books tell a story – about your business and your management, and if you can read that story, the opportunity to exert cost controls is much easier. A skilled bookkeeper can tell you loads of things about your company, even from miles away:
- Is the company organized?
- How long can they afford to stay open?
- Are the necessary purchases being made?
- Do they need to spend more time selling or in product development?
- What is the real cash flow of the enterprise?
- What is the real value of the business in the open market?
- Can this business qualify for standard bank loans or an SBA loan?
All these and more can be deduced from a savvy bookkeeper – and from an unbiased principal in the company. Of course, the problem is that when it comes to small businesses, the role of principal tends to be played by an owner who is biased. The company was founded with their money and sweat and hard work … It’s their baby!
So finding a bookkeeper that can take care of the numbers and provide real-time, unbiased data to the owners of a company can be critical in helping that small business to identify areas of control that will be critical to success.
No matter whether bookkeeping gives you a case of the shivers or you can never find the time to manage it, we’ve built BookkeepWithUs to do just that – handle all your bookkeeping needs and provide the real, unbiased advice you need from professionals who have been doing this for years. Get 2017 off to a great start and create the systems you need to manage all the “numbers” that threaten to consume every minute of your day and not let you concentrate on your job – running a great business and taking care of your customers.
By: Chris Groote
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