Many entrepreneurs want to do it all when starting a new venture. You might feel the same way, wanting to take on everything from production and customer service to the nitty-gritty of bookkeeping and accounting. While admirable and understandable, your enthusiasm to do it all might not work in your — and your company’s — best interest in the long run.
As a start-up business owner, you might worry about finding the funds to hire a bookkeeping service Atlanta business owners trust. However, making a firm line in your ledger will help you save money over time by helping you avoid common pitfalls involved with creating and building a new company from the ground up. You don’t want to watch your vision go bust after a short time simply because you forgot to do or submit your taxes.
Starting a new company means creating a workflow that makes sense for you and your staff, so none of you miss anything that could lead to problems for your business. One of the best thing you can do is find someone to mind your budget, accounting and tax concerns.
Simplify Your Workflow By Hiring Atlanta Bookkeepers
Once you find the right bookkeeper, you can rest easy and take care of your daily business concerns, such as production, marketing, sales, project management, customer service issues, and focusing on your company’s potential for long-term success.
Consider some of the following tasks that your bookkeeper can manage that will keep your productivity high and your financial risk and errors low:
- Bank Reconciliation. Keeping your bank records in excellent condition each day might be the most critical thing you can do for your company’s financial health. Your detail-oriented bookkeeper will pore over every record to keep your accounting records in good shape. Some of the basic elements involving bank reconciliation include identifying lost checks or missing deposits, avoiding high bank fees, quickly detecting possible fraudulent activity, and detecting and preventing against potential embezzlement of your company’s funds.
- Accounts Receivable. Most business owners love this part of the accounting process where you get some return on your investment. Your Atlanta bookkeeping expert will perform duties that include client billing and invoicing, payment collection and processing, and A/R reconciliation and reporting. With your professional bookkeeper, you can convert revenue to receivables swiftly and easily, minimize personal expense and collection fees, reduce bad debt, and maximize reimbursement.
- Accounts Payable. A necessary task in any business, no matter how much less pleasant it is than accounts receivable. Your bookkeeper will keep all of your accounts current as well as fostering good working relationships with the accounting managers for your vendors. By simply keeping everything on schedule, you will already have won your vendors’ collective hearts. Your bookkeeper will help make sure you adhere to a strict schedule and that you know where you stand financially at all times, identify any billing errors before cutting a check or making an electronic payment, minimize late payment fees, and give you more time to tend to growing your business.
- Budgeting and Reporting. Bookkeepers break down the current status and conditions for business owners in a way they can easily and quickly understand. You need to stay informed about the condition of your company’s finances all the time, so it is essential that you set your bookkeeper to this essential task, so you can always answer to your investors, customers, and vendors about where your books stand. Your bookkeeper will help you understand why your business is making money or losing money. They will also help you identify and control overhead costs, project where your business is heading in the next six to 12 months, and budget and save for the future.
- Quickbooks. A powerful software tool, your bookkeeper will have an expert knowledge and use this package to the fullest. Additionally, the package offers help with setup, cleanup, training, and hosting.
- Payroll and Taxes. Another fundamental part of any business is managing these critical areas of an organization. Highly qualified will perform payroll processing responsibilities, help business owners understand sales tax matters, preparing tax returns, filing tax returns and determining whether business owners might owe anything for taxes.