Regardless of the size of your company, deciding to open a business bank account shouldn’t be a question of if, but a matter of when. In an ideal bookkeeping world, every company would open a business account before conducting their first commercial transaction. But if you’ve yet to separate your company’s payables and receivables from your personal bank account, it’s never too late to make that happen.
If you’ve been so preoccupied with running your business that year-end bookkeeping tasks have caught you off guard, don’t panic. Take a deep, calming breath and get ready to tackle those accounts with a plan for streamlining the process.
There are some business purchases – think coffee runs, staff birthday cards, and one-off postage costs for example – where it’s impractical to pay by credit card or check. As a matter of fact, it was smaller business expenditures like these that first gave rise to the term petty cash! And they’re still the reason why most companies find it useful to keep funds on hand for minor, last-minute, or cash-only expenses.
Choosing a professional bookkeeping service is one of the easiest ways to help your small business grow! Every company, regardless of size, must accurately track and report the money flowing in and out of its accounts by way of sales, expenses, and salaries, but many entrepreneurs lack the knowledge and experience necessary to make this happen.
It’s in the nature of the game that you’ll be forced to deal with some level of risk in operating your small business. While some commercial pitfalls can be avoided, many are inescapable and require careful management to keep them at bay.
Today’s data-driven marketplace has made it easier than ever to start a business. But low-cost digital exposure hasn’t done away with the need for consistent and adequate funding, particularly in the early stages of establishing a new enterprise. The average startup tends to be overwhelmed with expenses, and often struggles to keep costs from outpacing revenues.
Outsourcing your small business bookkeeping has never been easier or more compelling than it is today. The expansion of online technology in general, and of cloud computing in particular, has drastically changed the way we all do business. Finding, contacting, and ultimately working with those services that can help your company run more smoothly—and generate a better bottom line—is just a click away.
Making the decision to outsource the bookkeeping for a small business is not an easy one for most owners. Your bookkeeper handles a lot of sensitive financial information, so using an outsourced provider for this business function can make anyone uneasy.
The rise of the virtual community has greatly enhanced the way we do business. This is especially true for business owners when it comes to bookkeeping. It has become increasingly practical to outsource these services.The time saved by outsourcing can be better spent focused on the growth and management of your company.
It’s difficult to keep up with both the changes in accounting and in QuickBooks. Every couple years there is a new version. It’s expensive and not a very good use of time to have to catch up in the new QuickBooks version or having to learn the new things in accounting.
You shouldn’t have to waste your time. Instead, you should be able to stay focused on the things you’re really good at. For us, it’s bookkeeping, but the trade is not a very exciting one. We come with the work hard play hard mentality, meaning we put in the full week to serve you, then hit the slopes, go for hikes, or do a little catch and release fly fishing down at the local water hole.
Bookkeeping can be tedious for a small business. The pipeline of projects is long, and there are a lot of other important things that can get in the way of achieving it all. We know that bookkeeping, for some, is not fun. Having to continue to do it over the long run is going to leave the books with mistakes, and the rest of the business can fall apart without adequate time to spend building it.
The financial information that outsourced bookkeeping can produce can also help grow your business. QuickBooks can automatically produce the balance sheet. However, if the journal entries are incorrect within QuickBooks, the whole balance sheet is wrong. The struggle over these small mistakes is not worth the time or the money.
With SLC Bookkeeping, you can get a high quality person that has industry-leading knowledge, and can help consult your business to success. Understand your financials, rather than just hand it over to the CPA at the end of the year. Know where you’re going to be in the next several months with financial forecasting, and stop having to stress. The answers to your questions, along with the high quality work and accuracy down to the penny, you’re only having to pay for the equivalent of several hours a week, rather than a full-time employee.
Get to living your life again. Let us help your business grow
Businessmen by trade, adventurers at heart; we understand the difficulties of running a small business and balancing a fulfilling life outside of work. We want to make the same thing easy for you. We offer day-to-day financial planning, personalized mentoring, and consulting services that will help you better understand the financial needs for your business and plan to meet your long-term goals.