The Need for Professional Bookkeeping:
A professional bookkeeper does not make mistakes, they know how to interpret numbers to guide your critical business decisions.
Your success depends on your understanding of how well your company is performing. There is no room for error.Highly accurate bookkeeping will provide the answers to the problems that hold back progress in your company.
When you hire a professional bookkeeper you will know what steps you have to take in order to reach the goals you have set for your organization.
Each month you should meet with your bookkeeper and gauge your companies fiscal performance. In this meeting try to understand the reasons why your income and expenses are at the level they are.
Your small business bookkeeper does so much more than keeping track of income and expenses.
An excellent financial officer will:
- Meet with you every month to review your sales. You will know how profitable each job is. Your margins can be the difference between success and failure.
- Discuss how long it takes for your customers to pay you and which ones should be sent to collections.
- Show you better methods to control cash flow so payroll can be met without stress or anxiety.
- List out vendors who seem to be overcharging you. A review of their invoices for accuracy can save you thousands. You should know if your vendors are charging inflated prices for their services.
- Review your expenses to see if you are spending too much in any particular category.
- Analyze your employee efficiency to determine if productivity is keeping up with sales goals.
- Keep track of your inventory levels and alert you of shortages that directly impact sales.
- Advise you to increase savings levels to withstand market declines and cash shortages.
- Pay your taxes on time to prevent penalties from taxing authorities on all levels.
- Send in your estimated taxes, removing that burden from you.
The above points highlight the value your small business bookkeeper provides to you each and every day.
As a small business owner, your success depends on:
- Meeting sales goals.
- Operating profitability. Not overpaying vendors above fair market rates.
- Paying your taxes on time every time.
- Understanding employee costs and turnover.
- Working efficiently.
- Keeping your promises to your customers by delivering goods and services on time.
- Building up cash reserves to withstand downturns in the economy or competitive forces.
- Reducing the time it takes for your customers to pay you.
- Converting advertising dollars into sales. Eliminating advertising that no longer works.
- Having systems in place to reduce the owner’s stress.
The Many Advantages Your Small Business Bookkeeper Provides:
A professional bookkeeper goes beyond data entry to guide your critical business decisions.
The knowledge contained in those books requires a brilliant communicator who can guide you to your goals of success without measure.
Bookkeeping is more than just reconciling your bank. It involves a detailed study of your numbers to determine trends, spending patterns and behaviors to ensure business goals are achieved each quarter.
Your ability to stay in business is directly related delivering results. Sales alone cannot get you there.
Employees have to be motivated to delivering results. Your bookkeeper can show you employee productivity levels and how they relate to keeping the promises made by your sales department.
The main advantage your professional bookkeeper provides is superior expertise and experience:
There is no position in your company more important than your bookkeeper.
Your fiscal officer will manage money, costs, bills, taxes and reduce your burden, stress and anxiety each and every day.
To learn more call Park East Bookkeeping today to discuss how we can help you!