For many small businesses, their bookkeeping causes a lot of pain.
However, when handled correctly there are many pains that proper small business bookkeeping services can remedy. Common reasons that bookkeeping causes pain are: it is intimidating, people don’t like it, and it’s often way behind because it gets pushed to the back burner. A solid bookkeeping system that is handled properly can solve many of the common pains below.
When you start talking bookkeeping services and taxes with many business owners you often trigger a worried look.
Bookkeeping can cause a lot of anxiety and worry for the small business owner, but for us as outsourced bookkeepers, it creates an opportunity. When we take over books from previous bookkeepers sometimes they are clean with a good system in place, but most of the time they are a mess and full of mistakes. Creating the proper bookkeeping system and giving a business owner a set of books that adds value will reduce their anxiety and worry when it comes to their business finances. Quite often the key is accurately updating the books on a regular basis.
Another pain that bookkeeping can create is a lack of access to updated information.
New clients often complain that the books are behind and inaccurate. Business owners complain to me that they don’t get reports from their bookkeeper often enough and when they do they don’t contain accurate or relevant information. In order to run a business you need updated and accurate financial information that can aid you in making business decisions.
A good bookkeeping and accounting services system can and should give a business owner access to regularly updated financial information that is accurate.
The major trends in the accounting industry right now are a movement to cloud-based solutions and the need for more regularly updated information. You should set expectations with your bookkeeper on how often you would like to see the books updated. Also, be sure that you have access to your bookkeeping system and financial reports anytime you want them and from where ever you are.