7 Reasons Your Small Business Needs Bookkeeping Services

Bookkeeper doing Payroll for Small Business
Being a business owner means juggling a lot of different obstacles at once, and it's easy to drop the ball. Here's how a bookkeeper can help your business.

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Being a business owner is tough. There are so many daily obstacles to overcome that it’s easy for time to get away from you. Have you been meaning to get your books done all year, but now its tax time? Have you received a notice in the mail from the IRS or the Oregon Department of Revenue but you don’t know what to do with it? This can be stressful. Last year, your tax preparer warned you about the importance of good books and now the tax preparer is rushed again at the last minute. You swore you wouldn’t live like this again. Sound familiar?

Don’t feel bad. That is where All About Businesses can help. We do not judge you in any way. We understand. Our mission is to have your books maintained all year long so you can relax.

Here are 7 reasons you need an outsourced bookkeeper for your small business:

Sudden growth of your company or perhaps you are planning on expanding your business. Doing everything without any help can actually harm your business and cost you more money. It is not in any way advisable having one of your employees do your bookkeeping and payroll. Bookkeeping can be complicated. It’s not just putting numbers in your software. You must know where, why and what is happening with those transactions. It’s very easy to mess up a set of books. For instance, what do you do if a reconciliation is botched and your numbers are not matching the cash accounts? Or recording data in the wrong year and not knowing it. Misclassifying income and expenses and even forgetting to record your deposits. Do you know the proper way to book a transfer? How about payroll journal entries? Or not saving receipts in case of an audit. These are just a few examples. If you are having an unexpected increase of growth of your company or you are planning on expanding your business it is crucial to have an experienced bookkeeper. To maintain sudden growth for your small business it may be time to seek a bookkeeping service for help.

No need to Train new Staff is one of the great benefits of having an outsourced bookkeeper that you don’t have to train or pay for continued training. We work with many different business types so we are already trained in all aspects of bookkeeping. With new employees there is a high chance of mistakes which will take your attention away from running your business. And if you have all the bookkeeping and payroll to do on top of training, this makes for a stressful situation. Training new staff also takes away from your regular tasks. When hiring an outside bookkeeper you are freed from training.

Having expertise on your side makes it easy to maintain an accurate set of books for tax preparation, making wise business decisions, and securing a business loan. You must have detailed and complete financials to be successful at these things. This is where an experienced bookkeeper comes in. A good bookkeeper can help you learn from your financials. An experienced bookkeeper will teach you how much money is being brought in and where your money is being spent. A professional bookkeeper knows your business financials and your business inside and out.

You’re starting to get behind on your books and payroll. This is a very costly mistake. It doesn’t matter how this happened, it can be fixed. Building historical books can be done perfectly with an experienced bookkeeper. They are skilled at cleaning up accounting messes in a timely manner. A great bookkeeper will catch you up and won’t let you get behind. It’s such a great feeling when your books are in order month by month. Your tax preparer will thank you too.

Productivity is starting to decline and you don’t know why. One of the biggest reasons, is trying to concentrate on too many tasks at once. Multitasking can be harmful to your productivity. Have you ever been concentrating on something important and you get a phone call? You just shifted your work. Have you ever had to do a task multiple times due to too many distractions? This can cost you money and time. By hiring a trusted bookkeeper you are enabled to focus fully on what you need to increase productivity.

You don’t want to get a tax surprise in the mail. We know how to make sure that you are in tax compliance. You can rest assured that we keep up on the latest tax laws and regulations. If the tax preparer is breathing down your neck for more documents that you can’t find or you’re running the risk of missing the deadline altogether. This is definitely the time to hire an experienced bookkeeper. We keep your filings accurate which helps you to avoid penalties and interest.

You need more time to focus on your business. Time is money, and as a business owner, you know it’s true. You may be a construction business or a dance teacher. Whatever your business is, it sounds way more exciting than being stuck in a room doing bookkeeping. Your love is what you do and why you got into business in the first place. Using as much time as you can doing what you do best is where your efforts should go. You must invest your specific and unique skills into your business. You want to keep your strongest and best skills where they are most profitable. It’s time for a reliable bookkeeper.At first, it may seem like you are saving money by doing everything yourself. But if you aren’t qualified to do the work, you could end up landing in more trouble doing your small business accounting. Bookkeeping and payroll are essential elements in the life of your business. These tasks can also put strain on you and your staff. Imagine the freedom you will have by having your Bookkeeping and Payroll Services outsourced. We can do that for you. Call us today at 503-405-9466.

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