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Salt Lake City Bookkeeping Blog

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5 Things About Outsourced Bookkeeping Your Boss Wants To Know

  
  
  
Free small business bookkeeping services

At times, the term bookkeeping takes on a vague meaning the makes it seem easier than it really is.  This couldn't be more true for the small business owner that doesn't fully understand what outsourced bookkeeping is all about.  If you are an office manager or administrative assistant you might get work put on you from your boss that "should just take a few minutes" or "shouldn't be too hard to figure out."  The reality is that your boss may not have the right small business mindset and doesn't realize that some bookkeeping tasks can be complicated and time consuming.  If this is the case then maybe you should approach your boss or small business owner and tell them some pointers about outsourced bookkeeping.  It could make your life easier and possibly lead to more revenue for the business, it's a win-win situation for everyone.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

How Good Bookkeeping Increased A Colleagues Cash Flow

  
  
  
Reasons to use outsourced bookkeeping

I was having lunch with a business colleague of mine a few weeks ago when he told me how much changing his bookkeeper had helped him.  He had been dealing with incompetent bookkeepers for a while and finally found someone good.  He said something that really stuck with me, "just getting a good bookkeeper doubled my cash flow."  It made perfect sense to me as I use QuickBooks as a tool to manage cash flow.  Cash flow is something that many small businesses struggle with and just by actually handling your bookkeeping the right way cash flow can really be improved.    

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Business Taxes, When Does It Make Sense To Stop Making Money?

  
  
  
Learn 9 benefits of small business Financial Statements!

With the tax deadline rapidly approaching and it's time to finalize your taxes.  I was talking with my CPA a few weeks ago and he had a client ask him: when does it make sense to stop making more money? We both laughed and of course my CPA's answer to his client was spot on... never.  He said until the tax rate is 100% you should never stop trying to make more money, which makes sense to me.  I signed and mailed my tax payments this past Saturday, it definitely hurt.  However, paying taxes is something to be proud of; it means you are doing well.  Today, I felt it appropriate to share a few random thoughts about taxes.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Did Last Year's Tax Prep Hurt This Year's Bookkeeping?

  
  
  
year end bookkeeping

Depending on how your small business's bookkeeping system is set up, you may be extremely stressed as April 15th approaches if your books are a mess or you may not even blink an eye since your bookkeeper handled the books properly throughout the year.  As the old saying goes, nothing can be certain but death and taxes.  Since taxes have to be paid each year, why avoid it until the last minute?  Why push it off and have a negative impact on your business?  If the proper procedures and systems are put in to place then there really is no need to worry or stress as the deadline approaches.  One of our many mantras at Salt Lake City Bookkeeping is that year-end bookkeeping shouldn't exist.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Which Small Businesses Don't Need Outsourced Bookkeeping?

  
  
  
QuickBooks tips and bookkeeping advice

Believe it or not, some small businesses simply don't need outsourced bookkeeping.  Like all businesses, they still need bookkeeping just not outsourced bookkeeping.  As a virtual bookkeeping firm, we have an ideal client and every once in a while we tell a potential client that we wouldn't be a great fit for them.  The reasons can vary from anything technology driven all the way to company culture.  We've learned it's better to be upfront with prospects earlier on in the sales cycle as opposed to trying to BS them and attempting to get a square peg to fit into a round hole.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Set Up Your Small Business Bookkeeping Correctly The First Time

  
  
  
Reasons to use outsourced bookkeeping

Small business owners often call us and inform us that they haven't done any of their bookkeeping; they haven't even set up QuickBooks.  This is the perfect situation because it allows us to set up the small business bookkeeping correctly the first time.  On the flip side of this story is the business that attempted to handle their own bookkeeping but made a complete mess of it and now they need our help.  This is not the ideal situation as it often takes us longer to fix the mistakes than it does to just start over.  What I have found is the most businesses have the time and money to fix their bookkeeping mess, but not to do it right.  Here is a guide on how to set up your bookkeeping correctly right from day one.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Is Your Accounting Website Pointless?

  
  
  
Need marketing help for your accounting firm?

Do you ever ask yourself if your accounting website is pointless? Marketing for accountants can be one of the most dreadful tasks that they have to handle.  Accountants have a reputation for being numbers people and introverts.  Thinking creatively does not come easy to most accountants.  However, for those that get it (typically partners) they know that marketing and sales are what drives growth for the firm.  Here are a few mistakes I think many accountants make with their website.  

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

3 Simple Small Business Metrics

  
  
  
fixed costs, variable costs

In recent months, while at networking events both in person and virtually, I've noticed a lot of conversations with successful entrepreneurs and small business owners eventually gravitate towards the importance of their metrics.  The availability of information and data these days is at an all time high, so why not utilize what's out there and help it improve your business.  Most successful small businesses have valuable metrics that help predict their revenue growth, forecast busy times and slow times, understand customer trends, the list just goes on and on.  The reason I say 'most' businesses and not 'all' businesses is that some business owners fly by the seat of their pants and don't have a grasp of what really drives their business.  To me, these business owners are doing a disservice to their business and employees by not harnessing the profitability of their business, but that's a conversation for another time.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

What A Value-added Bookkeeping System Looks Like

  
  
  
Reasons to use outsourced bookkeeping

Many small business owners that I talk with complain that their bookkeeping system does not add value to their business.  You should be able to use your bookkeeping as a tool to make key business decisions.  Most owners blame their bookkeeper for the shortcomings of their bookkeeping system.  They claim that their bookkeeper isn't good or doesn't care enough, which definitely could be true.  More likely though is that the owner hasn't clearly communicated what they want from their bookkeeping system.  Setting goals and clearly communicating them with your bookkeeper is a crucial part of developing the right system.  Here are four traits of what a bookkeeping system looks like that adds value.       

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  

Time And Money To Fix Your Bookkeeping, But Not Do It Right

  
  
  
Learn 10 Reasons your business should Outsource Bookkeeping!

I have noticed that small businesses typically have the time and money to fix their bookkeeping, but neither when they are first setting up their bookkeeping.  This article was inspired when I read a quote from Seth Godin posted on Hubspot's blog.  If you scroll down to #14 you will see Seth's quote: "Well, if you don't have time to do it right, what makes you think you'll have time to do it over?" This resonates with me on so many levels.  When I was growing up, my dad always used to say in a harsh Massachusetts accent and sometimes slightly angry, "Matthew either do it right the first time or don't do it at all!"  That has stuck with me into adulthood.  Half-assing something is a waste of time and therefore counterproductive.  When small businesses are setting up their bookkeeping most won't take the time or money to set it up properly from the beginning.  However, when it comes time to fix a bad bookkeeping system there is always time and money and here is why.

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Note: This blog does not claim credit for images posted on this site unless specified.  Images are copyright to their respectful owners.  If there is an image that appears on this blog that belongs to you and you do not wish for it to appear on this site please email matt@slcbookkeeping.com with a link to the image and it will be removed.  
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