![]() ![]() This is certainly a valid concern for any business owner. Your biggest concern is probably the IRS slapping your hand or putting you in jail In fact, a study by the SCORE Association revealed that 40% of small business owners say handling bookkeeping and taxes are the worst part of owning a business. Plus, bookkeeping and accounting are often parked on the back burner because they're just not fun for many people. Initially, there's not a lot of reward to spending the time that's necessary to straighten it all out when you could be using that time on marketing, strategy, or development tasks. Managing all of the financial aspects of a business is time-consuming, to say the least. (Here are tax reduction tips for small businesses you don't want to miss next)ĭoing your books doesn't (immediately) make you money It takes expertise to manage bookkeeping, pay bills, and handle taxes the right way. Managing the monthly financial operations seems like it should be intuitive, but it's complex. Plus, there's a reason CPAs have to work so hard for the letters after their names. Even though these are key tasks that are essential to running a successful business, they're often dealt with begrudgingly. They didn't go into business because they were passionate about bookkeeping and accounting. Many of our clients are iconic local brands that went into business because they were passionate about what they do, and they believe that others would benefit from what they have to offer as well. If you're a business owner who can relate, know that this scenario is very common. Reasons Your Bookkeeping Management Isn't Where It Should Be You figure it's just part of running a small business. ![]() And unless you've been in a situation where someone was effectively managing your accounting or bookkeeping before, this system of scrambling to catch up with your bookkeeping seems completely normal to you. Then, one day, you realize you're months behind, and you have to re-create the wheel every time to figure out where you are financially. However, you find that your software program creates more problems than it solves because it's complicated to use. You buy QuickBooks or another program believing it will be the solution to any bookkeeping problems you'll encounter. You start out feeling confident about managing your books. "QuickBooks has all my transactions from my bank feed, but none of them are reconciled." Business owners come to us every couple of weeks with statements like this about their bookkeeping management: ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |