|BOOKKEEPING - WHY BOTHER?
- The IRS requires all businesses to keep adequate books and records, however accurate financial records can be useful to small business owners in many other ways.
- A good bookkeeping system will help immeasurably with the many different problems you will experience as your business grows.
- With accurate financial reports you will have the tools necessary to find the source of the problem before it ruins your business.
WHAT BOOKKEEPING PROVIDES:
- Financial statements that
are needed for tax purposes and financing.
- Tracks your goals and financial resources
- Help you control your cash flow.
- Details your sales and expenses, and your profit margins.
SELF PREPARE OR OUTSOURCE?
- It is important for a small business owner to understand the basic fundamentals that go into preparing accurate financial statements and how they affect the business. But, that doesnít mean it has to complicated. Keep it simple and easy for you to understand because you are the one that needs to use it.
- Outsourcing to a skilled bookkeeper can be a valuable asset for your
company especially if bookkeeping isnít something you are inclined to do.
- Your time will be better spent on your talent and you will have the peace of mind that things are taken care of.