How an Atlanta Bookkeeper Can Solve Your Financial Woes

Both small and large businesses in Atlanta can have financial problems. However, many business owners choose to hire a bookkeeper to balance the books. The Atlanta bookkeeper would monitor the financial transactions of the business to make sure everything is in the green. This simply means that the company is making money and not losing it. Several financial woes are possible if you choose not to hire a bookkeeperin Atlanta.

DIY Bookkeeping Takes You Away from Your Business

This may not sound like a problem, but it is. If you are spending more time trying to balance your books than managing your business, you will have issues down the road. In addition to this, you might not be doing it right, which causes a whole host of problems as well. The best advice anyone can give you is to hire a bookkeeper to take care of this mundane task.

Bookkeepers Prevent Payroll Problems

Because your bookkeeper in Atlanta will handle the day-to-day financial transactions of your business, they will handle payroll for current and new employees. This is crucial for tax purposes, since the bookkeeper will file the correct paperwork for each employee. He or she will also make sure all employee information is as accurate as possible.

Know Your Business’s Health

You truly never know how well your business is doing without having a bookkeeper track the costs versus the income coming in. Imagine the consequences if you think you have a couple of thousand in the bank, but only have a few hundred dollars. Bank fees from overdrafts could occur, and those do add up. In addition, paying out late fees could cost upwards of $1,000 a month if you have a lot of bills and vendors. Having someone to keep track of all of that will keep these problems at bay and potentially save you a lot of money.

Avoid Costly Tax Problems

An Atlanta bookkeeper will prepare your business for an accountant to file taxes. He or she will make sure all paperwork is in order so that the accountant will be able to file all of your tax paperwork. Doing so will ensure that you are at a lower chance of having an audit. However, audits still do occur. In the event that it happens, all of your paperwork is already in order, all thanks to your bookkeeper. Without one, the IRS might fine you thousands of dollars, or worse.

Track Your Expenditures

The bookkeeper will track all bills and expenses. This way you can see exactly where your money is going. You will know whether or not money is wasted, or if an employee or business partner is charging inappropriate things to their business account. Tracking where the money goes will offer an opportunity to save your business money. This way you can identify the problem expenses and fix them as soon as possible.

When to Hire a Bookkeeper

Knowing when your business needs a bookkeeper is crucial. Most financial specialists agree that when you are starting a new venture you will need a bookkeeper right away. A new business requires a lot of time and attention, both of which you cannot afford to spend balancing the books. For the first six to nine months, the bookkeeper will be essential. Once your business stabilizes, you can either choose to have the bookkeeper come in for a day or two each month, or if you have a large business, you can hire him or her permanently.
As you can see, a bookkeeper is essential if you want a successful business. Many issues can cause both you and your company financial ruin if your finances are not on track. Balanced books will prevent this and make tax time a breeze. Do yourself a favor; hire a bookkeeper to help manage your business finances.

Your Guide to Bookkeeping Services in Atlanta

If you recently started a business in Atlanta or need help balancing the books, you will need a bookkeeper. The easy part of this process is identifying the need for help. The harder part is choosing bookkeeper services in Atlanta from the many businesses available. There are many things to keep in mind when choosing your new bookkeeper for your Atlanta business.

Determine the Services You Need
Before you choose one of the many bookkeeping services in Atlanta, you need to sit down and decide what you need help with. Ask yourself what tasks he or she might need to perform. Also, consider the age of your business and who was keeping track of the books before. If you have a new business, consider hiring someone to work in house to balance all accounts and handle payroll. If you have been in business for a while and just need help, you can hire a freelance bookkeeper or an agency to come in part time to help. An accountant generally handles taxes and financial reports, but some bookkeeping services will over these services too.

Consider Your Budget
Your budget will play a large part in who you choose for bookkeeping services. Costs per hour to you may vary, from $50 to $400 and above. Smaller firms might have plans that come with a monthly fee for a set amount of services. However, all of this will depend on what you want to spend. If you want the services offered by a very large firm, you will pay for it. Small businesses will work with a smaller budget, depending on the services you need.

Experience and Qualifications
Check to make sure the bookkeeper you choose has the experience and qualifications to handle the services you need. He or she should be skilled with accounting and professional spreadsheet and bookkeeping software. Highly consider a bookkeeper who has a degree in accounting or is a CPA. Ask for references and remember to contact them. Another thing you can do to ensure you have a good bookkeeper is to have them take the free Bookkeepers Hiring Test, created by the American Institute of Professional Bookkeepers. This will test your potential bookkeeper’s knowledge of bookkeeping concepts. However, in choosing to hire a firm, you can avoid all of this.

Knowledge of Software Packages
More than likely, you already have an accounting software that you use for your business. When you hire a bookkeeper, you can still use the same software. This means that you bookkeeper should know how to use it. Most bookkeeper services do have knowledge and experience with the popular software, but you still need to ask. Testing the person you will hire is a smart choice too.

Attention to Detail
A bookkeeper works with numbers and money. This means that he or she should have excellent attention to detail to avoid costly errors in the books. You can avoid a lot of issues with requiring a test as part of the application when utilizing a contractor or small business. It may also be necessary to monitor the bookkeeper after hire to make sure the accounts add up. In most cases, with a good bookkeeper you should notice many opportunities to save money.

Availability
Your new bookkeeper should be available to take care of the services you need. An over-booked bookkeeper is likely not to have time to balance your accounts. He or she is also more likely to make an error. When hiring, you need to be clear about the hours you expect the bookkeeper to work. When interviewing, always ask about other engagements that might become problematic to the work completed for you.

When you choose from the many Atlanta bookkeeping services, you should follow the steps above and be diligent. Being choosey and hiring the right person the first time can save a lot of money in the long run. Save even more money by choosing a firm that can handle multiple services, including accounting and tax preparation.