EA - Answers to Your 7 Most Common Bookkeeping Concerns

Answers to Your 7 Most Common Bookkeeping Concerns

It’s no surprise that questions come up when you are trying to figure out the ins-and-outs of running a business. Whether you are facing bookkeeping concerns or questions about marketing strategies, it is essential that you tap into an experienced team that can guide your planning. As a small business owner, you don’t have to figure it all out by yourself. Instead, you can focus on your strengths and bring in the assistance that is required to keep your business moving forward.

It is common for small business owners to face questions and issues regarding their financial tracking systems. Where should you turn to find answers to these questions? A Google search can be overwhelming because of the vast amounts of information that comes up. Plus, it’s hard to know which resources are accurate and reliable.

The best solution is to look to a trusted expert in the industry. Our team here at Easier Accounting is just a phone call away if you need answers, advice, or information. Here are some guidelines that will help with some of the most common bookkeeping concerns that we hear from small business owners:

1. My financial reports are always inaccurate.

It can be frustrating to look at a financial report and know that the numbers don’t match up with the reality that is happening in your bank account. These financial reports aren’t worth anything if the information is incorrect. If you are going to benefit from your bookkeeping and accounting system, then you need to be sure that the transactions are correct and everything is up to date.

Two things need to be addressed to ensure that the information is accurate: use a reputable accounting software, and tap into the services of an experienced accounting team. You will have checks and balances in place with the software and the ongoing reconciliation services to ensure that your reports are always accurate.

2. I’m scared that the IRS will audit me.

While there is always a risk of auditing, a few proactive strategies can be used to reduce the risk of auditing. Too often, business owners put themselves at risk because they attempt a DIY bookkeeping and accounting system. It’s not worth the little bit of money that will be saved on tax preparation fees when you are facing expensive fines and penalties due to bookkeeping inaccuracies.

We can’t promise that bookkeeping and accounting services will eliminate your audit risk. But we can help you create a clear-cut, accurate system that ensures you are sticking with the guidelines and regulations established by the IRS. Our goal is to help you minimize your tax burden while staying within the laws that apply to your business.

3. Payroll is taking up so much time; I can’t keep up!

Managing payroll is one task that never goes away. As long as you have a business and employees coming to work, you need to be consistent with payroll processing. Timely and accurate payroll calculations support the needs of your employees because they know that they can depend on the paycheck coming through every month.

If your business is growing and you don’t have enough time to manage payroll, then it might be appropriate to enlist the services of an experienced accounting and bookkeeping team. In addition to regular payroll processing, we can also help with the common bookkeeping concerns regarding payroll tax calculations and payments. You need to be sure that you are staying consistent with the paperwork and payments required by the IRS throughout the year.

4. I don’t have the time or energy to hire and train a new bookkeeper.

Are you encountering the common bookkeeping concern that it feels like there is a revolving door on your office? Employee turnover is not only inconvenient, but it is expensive to hire someone new and get them up-to-speed on the accounting systems that are used in your business

Luckily you can avoid the responsibility of training and hiring. Instead of carrying this burden in-house, it is cheaper and more effective to enlist the services of an outsourced accounting team. When our team is on the job, you can rest assured that there will never be gaps in the services that are needed for your business financial tracking systems.

5. I know I need a new bookkeeping system, but I don’t know where to start.

What is your current bookkeeping system? Some business owners might be outdated, using manual tracking either in handwritten notebooks or with excel spreadsheets. Other business owners might have an accounting software program that is 10+ years old, missing some of the key features that are now available in the industry.

If you haven’t upgraded your bookkeeping and accounting system in a while, then it’s time to talk to an experienced team to learn about your options. Instead of fumbling your way through the software setup, let the pros handle everything for you.

6. Cash flow is a mess, making it hard to pay the bills.

Even if you have money coming in from products and services that are sold, you are still running the risk of cash flow problems if you don’t have a good accounting system. You must be tracking every transaction that moves in and out of your financial accounts. You need to know the money that will be coming in from your customers. At the same time, you need to have a clear picture of the expenses that will be coming up in the future.

The right software and ongoing accounting services ensure that you are current with transaction auditing and account reconciliation. As a result, you always know how much is in the bank and how much money you will owe in the future. This information will support you when it is time to make the difficult decisions that impact the profitability and cash flow each month.

7. We need bookkeeping help, but I can’t afford to hire a full-time bookkeeper!

Just because you need bookkeeping support, doesn’t mean that you have to hire another person to be on your payroll. The cost that comes with an employee adds up! In addition to the person’s salary, you also need to bear the burden of benefits, overhead costs, and more.

One effective way to reduce your spending without sacrificing the quality of bookkeeping services that are available is to lean on the support from an outsourced accounting and bookkeeping company. You’ll see that our full-service solutions are a fraction of the price that you would pay for an in-house employee. You can lean on the advice and information from our experienced accounting team and save money at the same time.

Choosing the Best Accounting Team

As you can see, there are many ways that your business will benefit when you enlist the services of an experienced accounting and bookkeeping team. You don’t need to carry the financial responsibility without tapping into the services and expertise offered by the pros.

Some business owners look to their local networks to find payroll and bookkeeping services in the geographical area. There’s nothing wrong with hiring a team that is close to home, but you also need to consider the cost of these services. In many situations, it is more affordable to hire a reputable online accounting service.

Outsourced accounting is becoming more popular with all business owners. Look at the numbers: there’s no question that you will save both time and money by hiring the pros to manage your small business accounting needs. As you learn about the services that are available, you’ll see that it is possible to outsource all of the stressful tasks: payroll processing, tax strategy, financial reporting, tax calculations and filing, and more.

Simply research your options and then choose the accounting and bookkeeping team that will be a good fit for your needs. You’ll see that Easier Accounting has an excellent reputation in the industry. We’ll gladly answer your questions and help you determine if our services are right for your business requirements.

Accounting Services You Can Trust

When it comes to your business finances, it is essential that you hire a team that you can trust. You are leaning on the support of an accounting team, which includes the way you manage your money and set up your tax strategy. Many business owners have said that good accounting services were the key factor in ensuring the long-term success of the company.

If you aren’t already enjoying these benefits for your small business, then our team is here to assist. The simplest way to get started is to open up a conversation to learn about the options that are available. We’d love to talk with you about the ways that we can support your business needs. We specialize in small business accounting services and can help you overcome some of the most common bookkeeping concerns faced by business owners. You can reach our team at Easier Accounting by calling us at (888) 620-0770. Call today to see how our services can improve your business financial systems.

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