Sunday, April 10, 2011

The business of good financial stewardship

Bookkeeping is a primary necessity that all business owners must focus on while managing their business. Making sure you keep accurate bookkeeping records accomplishes many things:
  • Provides you with timely snapshots of your business so that you can manage it effectively.
  • Know who owes you money and who you owe money to.
  • You will need accurate records in order to prepare financial statements.
  • Should your company ever be audited, you will need to provide your financial records in order to verify all your expenses & income.
  • Should you ever decide to sell your business, you will need accurate financial records to show potential buyers.
  • Good bookkeeping records will help you out tremendously when you prepare your taxes.
  • Allows you to determine if your company is progressing or not.
  • Allows you to determine which times of the year business is slower or faster.
As a small business owner myself, I understand these business needs and have successfully performed the majority of the bookkeeping/accounting functions in support of small incorporated businesses with revenues ranging from $200,000 to $1,500,000.I have established North Street Bookkeeping and Support to help small businesses whose owners either lack the desire or the skills required to maintain their businesses books with accuracy and timeliness. Another of the major financial benefits of outsourcing your bookkeeping activities is that you are relieved of the payroll related liabilities: i.e. Payroll tax liabilities; Medical/Dental benefits; Profit Sharing; Workers Comp benefits; Holiday/Vacation Pay.

With the ability to work remotely, there are numerous ways I can support the majority of small businesses located anywhere in the Continental United States.