For business in Orange County, bookkeeping in a necessity to make managerial decisions and for annual tax preparation. Being unorganized in this area of your business will result in more time spent and therefore money wasted at the end of each year when you get ready to pay taxes.
If you’re a small business, chances are you are wearing multiple hats. Managing money may be the most tedious job of all. You need to outsource bookkeeping so you can do what you really love.
An accountant won’t run your business, but he will make things a lot easier. When you have an accountant manage your bookkeeping, you can rest assured you are in the hands of someone who has experience understanding ways to improve the bottom line through a profit and loss statement or making future projections. Knowing the ins-and-outs of proper money management, and complying with always-changing laws ensure that your business will be a success and it will stay a success.
What’s the difference between a bookkeeper and an accountant?
Hiring an accountant is different than hiring just a bookkeeper. An accountant can do more than just help keep your records straight. He or she can analyze your business and help your business grow. They can help you see the big picture to ensure you are heading in the right direction towards success.
When do I need one?
You need to hire a bookkeeper if do not have the time or do not know how to produce financial statements including a balance sheet and income statement that shows the financial condition of you and/or your company.
Businesses that hire a professional accountant usually discover they weren’t doing as well on their own as they thought they were, after reviewing proper financial statements. It can be surprising to discover that many small expenses add up to destroy profit margins.
The best thing you can do for your business is to hire an accountant to do your bookkeeping to help keep your head above water. Focus on what you do best– running your business instead of drowning in numbers.
Leaders who understand management know they cannot afford to waste time or money doing the most tedious function involved in running a business.
A bookkeeper can work day-to-day tasks, but it is best to contact a CPA if you have more complex and even legal questions about your business. If you think your business is growing too quickly and you need help—hire an accountant for your bookkeeping duties.
Wynkoop & Associates offers this service, or we can show you how to manage your bookkeeping yourself. We can show you how input your billing info, source documents, invoices, bills etc. We can also, or show you how, to input information in software to produce meaningful financial statements. For more information on our bookkeeping services and solutions for managing your own financial statements. Call (949) 851-1632 for a free consultation.
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