You own a small business. The best strategy is to stay involved with everything to ensure all goes perfectly, right? Wrong! The side details, while very important to your business’s success, can cause you to feel or become bogged down, depriving your business of its strategic leader’s honed (and sane) efforts.
Bookkeeping is a classic bog-you-down task. But since money is the life blood of your business it needs to be done. As a business owner you need to know how much your business is making and how much it is costing, how its assets match up against what it owes, and all the information in-between that can come from analyzing and tweaking this valuable information. Plus, the government requires these to be reported annually via tax returns! It is a wise investment to hand-off bookkeeping to the experts. Then you can focus on what you do best: building clientele and orchestrating your company’s core operations and future.
At Sweeten CPA we affordably provide business owners the peace of mind knowing their financial books are in sound order, as well as furnish them with powerful financial decision-making tools. We are experts in what is known as “after-the-fact” bookkeeping. This is how easy it is:
- At the end of each month (or other predetermined period of time) send Sweeten CPA all your company’s bank and credit card statements.
- We properly enter all the information into your bookkeeping software, most commonly QuickBooks. (Properly is the key word. Trust us, bookkeeping is not an intuitive exercise. Leave it to the trained experts!)
- We ask any questions we may have about transactions; you provide answers.
- We provide the 2 most basic financial reports for your review: the Profit and Loss statement (or Income Statement; all income minus all itemized expenses; it answers “What did we make?”) and the Balance Sheet (all assets and liabilities at that point in time; it answers “What do we have?”). Additional, more detailed reports and analysis can also be provided if requested, such as forecasts, budgets and tax projections.
And that’s it!
Most bookkeeping projects take only between 2 to 4 hours a month. And at $45 an hour it can fit nicely into your business’s budget. Remember: having accurate financial records means having accurate information to make the best decisions. It can also help ensure your taxes will be correct and timely. Plus, it’s so much less painful than trying to teach yourself double entry accounting!