Without a doubt, Bookkeeping is one of the most needed, but time extensive part of running a business. However, having a good accounting team in place is crucial to the health of your business finances.
If the books of your business aren’t accurate and attended to on a regular basis, come tax time, you're going to have significant problems. Hiring a competent, full-time, pay rolled bookkeeper is expensive. Most companies are outsourcing bookkeeping services to teams like The Bean Counters Bookkeeping. They know that by outsourcing, they're reaping the benefits on having a professional bookkeeper, without incurring the costs involved with someone on-site. Let's take a look at 6 benefits of outsourcing bookkeeping services. 1. Save more money It's significantly less expensive to outsource verses shelling out a salary for an employee to take care of your books. Think about the costs involved with benefits or and spending time on the hiring process. When you outsource bookkeeping, you pay for what you need. That's it. 2. Spend less time Bookkeeping can be tedious and time-consuming. Why not use that time more wisely by focusing on other aspects of your business instead of in the books? 3. Leverage an expert When you hire a team of certified bookkeepers with accounting degrees, you don't have to worry about a situation coming up where they don't know what they're doing. This is an ideal way to leverage an expert without paying an arm and a leg. 4. Or, leverage a team of experts When you work with The Bean Counters Bookkeeping, you're getting a team of dedicated pros working together to make sure your books are correct and in order. The more eyes you have on your finances, the less chance there is of errors and oversights. 5. Financial advice Not only will a team ensure your bookkeeping won't be inaccurate, they can advise you on how to interpret reports and give advice on situations such as financing, investments, and growth potential. 6. Streamlined systems We work in the cloud and are up to date on all of the current changes going on with accounting systems. You don't need to waste time staying on top of updates or constantly upgrading to new platforms. In conclusion, when you decide to outsource your business's bookkeeping, you're making a smart choice. We'd enjoy nothing more than taking some of the burden from you and handling your bookkeeping. Give us a call to see how we can make your life a little bit easier! 602-460-0154
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If you are looking for a great QuickBooks bookkeeper, you need to check out options for online QuickBooks bookkeepers. Today, more and more people are looking to have a great bookkeeper that is educated and prepared with all of the information that they need. The easiest way to achieve this is to look for a person that knows QuickBooks and is familiar with it and willing to be trained when new versions come out. Instead of hiring in your office look to online QuickBooks bookkeepers to get the job done for you.
•Have a Team Working for You When you decide that you are going to use online QuickBooks bookkeeper options, you are actually going to be able to tap into an entire team of bookkeepers. Look for a firm that is extremely reliable and you will find a team of professionals online that is going to be able to help you from start to finish. It is great to have a team work for you because it means that more than just one person is looking everything over, which means the chance of errors is minimal. •Get Your Books Done Quickly Getting your books done promptly is something that is so important. You want to make sure that whether it is a simply entry in your general ledger or it is yearend reporting it is done when you need it. When you choose to use online QuickBooks, your team of bookkeepers will get it done for you when you need it done and won't leave you hanging. In general, you will find that with the online options that are out there that your work will be sent to you, completed, by the next day, which is faster than most bookkeepers out there. •Great Software QuickBooks is by far the best accounting software program that is out there. If you are running a business, you want to use QuickBooks to get what you need and to get financial software that can do everything that you need it to. What you will find with an online QuickBooks bookkeeper is that you can follow the accounting cycle from start to finish and get all the reports you need to file your taxes. With an online QuickBooks bookkeeper that is trained correctly, you are going to have no errors and great looking reports available to you. •Online QuickBooks Bookkeepers are Affordable Probably the biggest advantage with an online bookkeeper that is going to use QuickBooks is the fact that it will save you money. When you have a salaried bookkeeper, you have to pay them no matter how much work that they are doing at the time. When you hire an online bookkeeper you can have them bill the hours that they work, this is going to save you so much money. What you will find is that with online QuickBooks bookkeepers, you are going to keep a lot of cash in your pocket instead of keeping a full time bookkeeper on your staff. Accountants Unlimited, LLC is a provider of QuickBooks bookkeeping, accounting and tax preparation services to American companies. We specialize in servicing small and medium businesses. Trends are showing that more small businesses are making room in their budgets for bookkeeping services, and to the delight of many it's more affordable than ever. Especially when taking into consideration the benefits that come from doing so, which far outweigh the cost. Upon exploration, there are several bonuses to securing bookkeeping services from a trustworthy company. These are just some of them.
Avoid Late Bills When it comes to operating a company, one may find that their time is easily consumed and they have a hard time keeping up with everything. That's why sourcing out the mundane, day to day tasks is smart. Things like bill pay, while important, are time consuming. By delegating the task to someone who has time and experience frees up plenty of time for other things, such as business growth. With bookkeeping services, a savvy business professional can have all their statements sent to the chosen professionals, and give them account access to make payments and check any statements they don't have immediate access too. It takes the hassle out of the job! Keep All Income in Check For any small business leader, it's a bonus to be able to check all aspects of the company with ease, even the big picture. No one likes to delve into detailed accounting if they don't have to. This is especially true if the individual doesn't like working with figures or sitting in front of a computer. Perhaps they are more of an action-type employee and more interested in landing accounts or the social parts of their job. By hiring a bookkeeping service, one can have software implemented that is easy for all to access, understand and even use if the prefer. Multiple users can take advantage, and it is accessible online so they can use it from wherever they are, home or office. Control Payroll Even more mundane than tracking expenses is controlling payroll. No matter how many employees a business has, they can benefit from having payroll services included with bookkeeping services. Checks are created and ready to be signed, mail out services are available, and freelancers will enjoy the convenience as they aren't in house to pick up a check. Get Reports at a Glance Scarily, most small business owners are unaware of the current financial state of their companies at any given time. If they don't check their finances and keep on top of them, the business will likely fail. Having the opportunity to take advantage of critical finances is crucial. That's why bookkeeping services are so popular. They generate the reports one needs whenever they need them. Most choose twice a month, or bi-weekly. Others need them every week or just once a month. It is all dependent on the nature of the business. Regardless, having a bookkeeping service get reports ready means they'll always be accessible and in order. Keep Fees at a Minimum One part of the service that is often the responsibility of bookkeeping services is referred to as bank reconciliation. Don't trust a bank statement to provide a great picture of the overall financial state of the business. Bookkeepers take on accounts payable and receivable, and enter it all into the latest in software for easy navigation. There will never be a question if that's the current balance, and this helps avoid fees such as overdraft and interest due to outstanding debt. Hiring a bookkeeping service is smart and allows owners to enjoy the fruits of their labor as soon as possible from the business. Saving time and money is a given, which is why it's so popular today. Providing services far above and beyond the average tax and accounting service, Accountants Unlimited have been serving our clients with pride for many years. Professionals offer a personal approach to each and every client service, striving to maintain lifelong financial relationships with the knowledge that they can make or break their own success. Using cutting edge technology means that accounting, bookkeeping, and advisory services are top notch. They continue to build on their stellar reputation year after year by staying up-to-date on every aspect of the accounting world. Recent reports show that small business lending is bouncing back, and analysts think this is happening for a couple of reasons. First, small businesses are reporting steady profits. The economy has bounced back a bit, and small businesses have booked some years of consistent growth. As a result, banks feel more confident about lending them money.
Second, home values are increasing. Most small business owners use their homes as collateral for their small business loans or lines of credit. After the real estate bubble burst and home prices plunged, banks wouldn’t accept underwater mortgages as collateral. Now that home values are steadily going up, more small business owners can use their homes as collateral. To improve your chances of getting a loan for your small business, follow these four key steps: 1. Target multiple lenders. Assemble a list of up to five banks that might be willing to lend money for your business. Start at your own bank or credit union, and then consider other local banks in your area. Look for lenders who extend loans backed by the SBA, which can make them more comfortable taking a chance on your business. 2. Prepare for your meeting. Be prepared to discuss the following information when you meet with your loan officer:
4. Shop around. Many small business owners grab the first loan they can get, and they end up paying more than they should. Don’t hesitate to discuss your loan with multiple lenders. Compare terms and interest rates, and choose the loan that’s best for your company. If one lender says “no,” then ask another one. Be persistent to get the financing that you need. If you need advice, visit your local SBA or SCORE office. America’s small business lending environment is finally improving. Don’t hesitate to ask for your piece of the pie. When it comes to running a business successfully, you certainly need quality bookkeeping. It will help you avoid any kind of miscalculations that might lead your company to a lot of undue stress. Leaving this important issue to your existing employees would be a bit unwise. Not only that they already have their own administrative and sales tasks, it is more likely that they input the data incorrectly. This simple mistake might also cost you a lot of money. Now that you know the significance and importance of bookkeeping to your business and company, it is without a doubt that you hire reliable bookkeeping services. If you like to save your money on this expense, it would be best if you can choose a virtual bookkeeping service. Accountants Unlimited is a popular service that provides bookkeeping services to many customers with small businesses. Thanks to the quality bookkeeping services, you can now have more focus on how to run your business.
Bookkeeping can be a very time-consuming task for any company. It has to be conducted properly and it is important that you can avoid any kind of miscalculations. Taking this task on your own might be an option. One thing for sure, you shall not have enough time to pay more focus on growing your business. It is almost impossible that you can come up with plenty of time for your family. Therefore, leaving this important issue on the hand of a professional bookkeeping service provider seems like the best choice. Not only that it allows you to pay more focus on growing your business, our bookkeeping services will also save your time. Accountants Unlimited can be your business partner as well. And as a reliable partner, we will help you grow a more productive and successful business. That way, you will have more time to manage the financial details of your business as well. Accountants Unlimited will remove the need to hire an additional employee to take care of your bookkeeping issues. More importantly, we will provide you with all the bookkeeping services that you need including budgeting and forecasting, accounts payable and receivable, day-to-day bookkeeping services, payroll, QuickBooks set up, QuickBooks training and complete financials. We are also capable of providing additional services like invoice creation, cash flow analysis and job costing. Bookkeeping is a term related to the integrated business system management and business development. Bookkeeping mainly deals with processing the purchases, sales, receipts, payments, payroll and maintaining employee salary records and other details, generating the bank reconciliation statement, and providing the reports for both client and accountant. Good bookkeeping habits include the standard process of how to think good for business growth and also ‘How Can We Do Better?' A good bookkeeper will trace down all the ways of business expenditure, like where and how money is spent. Dealing with cash payments and recording all the related entries is also an important task. Which business process is followed while spending money and how should it be done in the right manner is also taken into consideration. Bookkeeping is processed to know how your business is working financially and helps to record the transactions on a daily basis. A good bookkeeper must work honestly and should be independent and confident in doing all the assigned task. Accurate record maintenance and updation along with data entry is a crucial component while filing records, and with the increasing number of businesses in the market, the demand for a good and reliable bookkeeper has been growing steadily in the market. Bookkeeping helps to grow from a small scale business to a big business with more sales and profit. Bookkeeping services must be flexible and are likely to be liable to stay away from the impact of the competitors, and make itself updated with the new advanced technology. Bookkeepers now need to grow and advance their skills to remain firm in the market by providing best consulting services, needed for integration of business systems for increasing clients. The successful bookkeepers must provide the software availability options, like the backup for important data while recording the financial information. Advancement of technology helps companies and employer's to remain focused on revenue and growth. Main benefits of bookkeeping are:
Bookkeeping gives a structural view of the business's growth and keeping records of transactions can help to predict the future profit. A qualified bookkeeper helps to keep track of income and expenses, keeps a watch on paperwork in order and helps you with the accounting-related system. Bookkeeping provides financial statements preparation, which shows for where your business is and where it is going. Financial statements, if updated as per requirements than all entries and adjusting entries posted can be viewed for growth path. A bookkeeping system helps to maintain accurate records of the accounts and transactions made, which include analysing business growth activities, attracting more investors, making timely payment of tax and to meet the client accounting and reporting requirements. Managing your books is a cumbersome but critical task for any business. It can be very time-consuming, frustrating, and could mean working late hours. However, it has to be done to know the worth of your business and to satisfy the government for taxes. You also need to do this on a regular basis to get an accurate idea of your financial health.
How do you make this a stress-free task work for you? Some small and medium businesses either employ virtual bookkeepers or do the work themselves. No matter how it is done it is still a mundane task involving shuffling papers and working extra hours. Often there is a twinge of doubt that you are not doing something quite right or are missing important information. Ask any entrepreneur why they went into business and you'll get a hundred different answers. Odds are that "do bookkeeping" was not on the list even though bookkeeping is the core of any successful business. It is the way to measure growth, keep cash flow positive and track expenses. Bookkeeping is like learning to play a musical instrument. The secret is to learn the fundamentals and create a system that works for the company. Here are a few tips that could prove helpful to make the right decision for bookkeeping and accounting needs: Don't mix business and pleasure: Get a business credit card to enable you to separate your business expenses from your personal. By this time you have already started your business checking account. So adding that business credit card will help you establish and build business credit and points. Co-mingling funds between personal and business is not a productive or efficient way of doing business and can prove to be a headache at tax time. Keep it simple: When creating your business in your accounting software don't create too many categories in the chart of accounts. For example, office supplies will be a sufficient category rather than separate categories for paper, letterhead, printer supplies, etc. This complicates profit and loss and adds time to the day-to-day activities when items are being expensed. Automate your invoicing: There are many online invoicing services that allow you to schedule invoices for clients who are charged on a regular basis. You will find that most accounting software has the ability to memorize invoices that reoccur monthly. The day of the re-occurrence can even be set such as the first of the month. Use the right accounting software: There are many accounting software packages out there that you can use to assist you with your accounting and bookkeeping needs. Of course, I highly recommend Quick Books but there is also a wide variety of Open Source software which is free to download. Additionally there are a wide variety of free manuals and tutorials online. Outsource your bookkeeper: Outsourcing your bookkeeper saves time, money, worry, and headaches. Many business owners take two common approaches to tackling the issue of bookkeeping. They try to do it themselves - which is time consuming and can lead to costly mistakes. They pay large firms to do it - which is unnecessarily expensive. A professional bookkeeper has the skills and experience to do the job right. There are many advantages to outsourcing your books. Save money, save time, and the need for extra help. The biggest benefit is your bottom line. • Books that are inaccurate do not reflect the true health of the business • Being clueless at any level about where the money is going is not being in control of your business. Business people need to focus on the business: There are many aspects to running a business and the most important is earning money. Some things just have to be delegated in order to maximize time and productivity. Bookkeeping can be a painful and time consuming process and many business owners do not have the expertise or knowledge to get the job done right. Time spent on bookkeeping activities is time away from making money Who's Watching Your Money?
While I'm a strong advocate of hiring assistants, there are two things that no entrepreneur should ever fully delegate: marketing and bookkeeping. The marketing and the bookkeeping of your business can easily make or break you (just think "new" Coke and Enron). That said, if bookkeeping is not your forte, hire someone to do it - you will save so much in frustration - just be sure to keep your fingers in the books. If you choose to hire a bookkeeper, keep the following in mind: 1. Get QuickBooks. For ease of use, I highly recommend using QuickBooks and hiring a QuickBooks ProAdvisor. QuickBooks ProAdvisors have taken certification exams to insure that they know the system. I have used QuickBooks both for myself and my clients and highly recommend it for its ease of use/understanding. The online version is great in that you can see the latest version of your books at any time and eliminate the annoyance of emailing files back and forth and wondering who has the latest version. 2. They must see both the forest AND the trees. You want your virtual bookkeeper to be detail-oriented AND to see/understand the big picture. They need to know what happens consistently - every month - and update your books without bothering you for items they should know about. At the same time, they needs to be astute enough to see the larger picture and warn you of any impending problems before they happen. If you purchase a piece of equipment, she should know how to properly enter it into your bookkeeping software to avoid problems - and therefore save time and money - with your accountant (and the IRS) later on. 3. They must know your industry. You don't want to have to train your bookkeeper on your industry language, standard industry income or expense categories or other basics. The more up-to-speed they are, the faster they can hit the ground running and the sooner you will have good data. If they don't know your industry however, be sure to give them a rundown of lingo and how you refer to your customers/clients/tenants in order for you to get the most meaningful reports out of the gate. 4. They must provide timely reporting. In hiring your bookkeeper, insure that you put in a provision for when you want to see monthly financials. The date will depend on when your bank month ends - give them a few days after that date to reconcile your accounts and produce reports. At a minimum, you want to see a profit & loss, balance sheet and cash flow statement. Take the time to review the reports so you can spot any irregularities before they blossom into problems. Not sure how to read a cash flow statement? Get a check/electronic funds transfer (eft or "auto debit") transaction detail instead. It will help you see where the cash is going. 5. They must know accounting but also be able to communicate it. Your bookkeeper needs to know the difference between assets, liabilities, income, expenses and equity and be able to provide your accountant with the necessary data upon request. At the same time however, if you are not "numbers oriented", they also need to be able to explain the financial statements to you in plain English. 6. They must be trustworthy. Hiring someone to keep track of your bookkeeping requires a level of trust between you both. You need to feel comfortable that they will keep track of your information and maintain your confidentiality. At the same time, if they pay your bills and have access to your bank accounts, you must also trust that they will not abuse that privilege. And make no mistake, it is a privilege to have someone (particularly in a virtual relationship) trust you with their finances, their checkbook and their business. 7. They must have great communication skills. If your bookkeeper will be communicating with your clients and vendors, they must represent your business as you would. Whether virtual or in-house, it's critical that your bookkeeper be a positive force that further enhances relationships. The question of money can, at times, be a sensitive matter. You need someone who recognizes that and communicates appropriately. Always remember - these are your books and this is your business. While you may hire someone to manage the details of tracking your finances, and should do so if this is not one of your strengths, the ultimate responsibility for oversight is yours. Want your business to delight with smart and simple accounting solutions? QuickBooks facilitates such attributes to its users. It's a robust accounting tool, which let users manage their accounting tasks in a fabulous and efficient way to boost their business performance up to a standard. The offered feature allows users to manage bills, invoices, inventories, sales, expenses, company data and other specific accounting tasks more efficiently. With its simple interface, users can easily introduce changes to this bookkeeping software as per their preferences to make it easier for themselves. Additionally, in reference to QuickBooks support services, users can easily explore hidden QuickBooks attributes to extract extra facilities for proving it as the smartest way to accounting. Let's delve into the details to get the answer.
A few QuickBooks features are as follows
Allow QuickBooks to do your accounting tasks Availability of various inbuilt attributes, QuickBooks can easily carry out accounting tasks in an adept and accurate way. Thus, why not to benefit yourself after transferring your work to this bookkeeping software. QuickBooks' ability to create company's Chart of Account, users can easily store information about their customers, vendors and employees, separately. If you enter your company financial data either in an invoice or in a purchase order form, QuickBooks will automatically generate a transaction form in response. Although, it also allows users to write checks and feed them in its database to enlist a summarized report for easier study. Forms in this bookkeeping software are the replica of paper-based documents, except that they are kept in a virtual format. You can use them for sending invoices, updating and paying bills, running payroll add-on for dispatching checks to employees, filling tax forms and last but not the least for managing inventories. But, it will be more beneficial if you just let the QuickBooks support service provider to handle everything by itself to enjoy the simplicity and ease that QuickBooks award. Arrange QuickBooks interface according to your need QuickBooks' interface is enormously simple to understand. Availability of interactive maps will illustrate the classic workflow so that users can view tasks that are already accomplished. Its icon customization ability will let users find whichever function they are willing to use as per their convenience. However, Navigation Panel of this powerful accounting tool incorporates various shortcuts that users need, to complete their task quickly. Below this panel, an overall layout is present to signify alert, reminder, and account balance options for user's convenience. As a business representative, you must realize, how important it would be to find out best QuickBooks Support services for your business to discover a sharp way to accounting. |
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June 2017
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