Additional Information
5 REASONS TO CONSIDER USING AN ACCOUNTING OR BOOKKEEPING SERVICE
1) Most business owners do not go into business to do accounting or bookkeeping. By freeing up the time they would otherwise spend doing their own books, they would be able to concentrate on what they do best, the real work of their business, growing their business and increasing their profits.
2) Keeping accurate and updated records is necesary in maintaining cashflow, analyzing performance, seeking financing, and also in reporting to governmental agencies.
3) Not all businesses will be able to take on the costs of a full or part-time accountant or bookkeeper. With the added responsibilities of payroll taxes, workers compensation insurance, and any other employee benefits, hiring an employee can become very costly. Also, the accounting needs of the business, and required time commitment, may not be enough to justify hiring a full or part-time employee.
4) Special projects above and beyond the daily routine seem to always get set aside in order to maintain the day-to-day operations. Outsourcing these special projects can ensure that the needed analysis is done without falling behind in the daily routine.
5) Tax season is stressful enough without the added burden of trying to get your books caught up or having to keep up with all the new tax laws. Having an accountant or bookkeeper, who is also a tax preparer, keeping your books up to date during the year will speed up tax preparation and save money.