18 Feb How a Great Bookkeeper Can Change Your Life
Often during my first meeting with business owners the question of what bookkeeping services really are and how they can truly benefit the business comes up. My answer is always the same – a great bookkeeper can change your life!
What does a bookkeeper do?
In the simplest terms, a bookkeeper records all the transactions that occur in your balance sheet accounts – namely your bank accounts, PayPal accounts, credit cards, loan accounts… Any account that holds funds to pay people or purchase things and/or accounts that receive funds to pay for products or services you provided. But it doesn’t stop there. A great bookkeeper also:
- Regularly reconciles all the balance sheet accounts to ensure accuracy
- Has the knowledge to properly code transactions for maximum tax benefit
- Ensures all direct costs and time are billed to customers and collected in a timely manner
- Manages accounts payable workflow including vendor bills, approvals and payments
- Prepares, files and pays sales tax returns in a timely fashion
- Calculates and processes payroll, payroll taxes, and payroll tax returns
- Helps establish measurable cash flow and budget goals
- Aids in reducing expenses and bringing costs in-line with industry standards
- Prepares accurate and timely management reports and financial statements so the owner can make informed business decisions
A bookkeeper takes care of every aspect of your business finances, accounting and bookkeeping. That includes managing accounts receivable, accounts payable, inventory, job costing, fixed assets, investments, credit card accounts, loan accounts, business owner investments into the business, draws and disbursements out of the business, budgets, cash flow projections, financing, benchmarking, and financial reporting.
How can that change my life?
Imagine losing the stress and hassle of dealing with your business and personal accounting and bookkeeping. No more worrying if bills are paid or overpaid, filing deadlines are missed, bank balances will cover the checks written, customers have been billed, payments have been received…. Feeling better already?
Now also imagine that you have all the information you need to move your business forward. Are your sales actually meeting all your sales goals? Are they higher than last year? What is your gross profit percentage? How do your numbers compare to industry standards? What is your net income? How much cash is really in the bank?! (By the way, your bank doesn’t know about pesky outstanding checks and deposits.)
A great bookkeeper can deliver Accounting Freedom! The ability to be free from accounting and bookkeeping chores. Giving you back the time to focus on what you do best – serve your customers and grow your business.
Many of our clients enjoy total Accounting Freedom by having us take care of their personal accounting too!
Where do I find a great bookkeeper?
Finding a person that has the knowledge and skill to deliver all these services can sometimes be a challenge. Outsourcing is an excellent way to get top notch know how for less money than in-house employees. Plus you have the added benefit of not having to pay payroll taxes, vacation or sick leave, or get coverage for employee absences.
TBooks has been serving clients for over 18 years. We specialize in delivering Accounting Freedom and would love to help you enjoy this freedom and change your life – by watching your business soar to new heights.