Business Books are a Mess

My Business Books are a Mess! How to Get Back on Track

Every small business owner starts out with the best of intentions, but heavy responsibilities and busy schedules often cause important tasks to fall to the backburner. Do you feel like you are drowning in paperwork and emails that need your attention? If you are unable to keep up with everything, then you need to make sure that you find the right business professionals to help.

New Call-to-action

Big Business Mistake: Procrastinating Bookkeeping and Accounting

One area that is often neglected is the financial tracking of a company. You might be paying a monthly or annual fee for a high-quality accounting software program. But, that system isn’t effective unless you are using it right.

The most common reason these tasks are procrastinated is that there are other responsibilities that are more demanding of your time. You only have so many hours in a day, which means that the highest priority tasks will take over your focus. If you are dealing with product management and immediate customer service needs, then the data entry and busy work will naturally fall to the backburner.

But, failing to keep up with these important tasks is a big mistake! Letting your financial tracking slip can cause compounding problems in the future. Without detailed information about the financial health of your company, you won’t be able to make informed decisions for your company.

These are a few signs that it might be time for you to hire a small business accounting team to help:

  • Your monthly reconciliations aren’t happening
  • You have a big folder or box of unsorted receipts that need to be entered and filed
  • You never know the exact standing of your bank accounts
  • You have a hard time paying bills because of cash flow issues
  • You are scrambling at tax time to prepare all of the necessary information for tax filing
  • You have a backlog of data entry for expenses and income received
  • You don’t bother running financial reports because you know the numbers will be off

Can you relate to any of these issues? If these things apply to your current situation, then it is time for you to be proactive in hiring an experienced accounting team to help!

Where to Start: Reclaiming Control of Your Accounting System

You can spend a few hours sorting through paperwork and line items, but your progress will be limited if you aren’t tapping into the experience of an accounting professional. Without an accounting background, you won’t have the knowledge to effectively implement a system that is built to last.

Instead of wasting your time trying to reinvent the wheel, why not hire someone who knows what they are doing? Their experience can bring a system that will be transformative for your small business. It is much more effective to implement a proven accounting system, rather than trying to build it from scratch.

So, the first place to start is by hiring an accounting team to help with your business. Here at Easier Accounting, we focus specifically on small business accounting services. We have worked with many clients, giving us the hands-on experience to know what works. So, we can make suggestions about the best solutions to get your company back on track again.

Employee vs. Outsourced Accountant

Now that you know that you need to hire someone to help, does it make sense to hire an employee or to choose outsourced accounting services? If you aren’t familiar with outsourcing, then you might be tempted to go with what you know and hire an employee. But, you need to understand the financial burden that you could be facing with a full-time employee. Outsourced accounting can help you save money and maximize the experience of your new team at the same time.

Most accounting software programs are cloud-based systems. So, you are no longer limited by geographical location. Regardless of your business location, you can work with an accounting team located anywhere in the world. Without the barrier of in-office support, you can choose the team that is the perfect fit for your company.

Dedicating Time and Resources to Get Back on Track

Once you have hired an outsourced accounting team, you will need to spend a little time to provide the necessary information for your company. Your accountant will request details about your bank accounts, credit cards, transactions, and more. This information needs to be sorted into an organized system, and your new accountant won’t be able to get it done without your help.

So, make it a point to spend a little time gathering the requested information. After you have handed off the details, then you can focus on other responsibilities within your company.

Prioritize Your Business Financials

Going forward, it is essential that you make bookkeeping and accounting a big priority for your small business. Failing to hold these tasks as priorities means that you could quickly fall behind again and end up in the same mess in the future.

Most business owners have too much to do, making it difficult for them to prioritize financial tracking on their own. So, the best solution is to have ongoing accounting and bookkeeping services that can help you stay current at all times. These experts will make it possible for you to always have accurate financial information without the need for you to find time for the busy work on your own schedule.

Having the right maintenance system in place is essential for the long-term success of your company. It is important that your books are maintained on a weekly, monthly, quarterly, and annual basis. If you have a lot of transactions moving through, then you might need to manage your accounting system on a daily basis. Once the system is in place, then these ongoing services will be easier to manage going forward, helping you to avoid falling behind on the books again.

Why are these tasks so important to the success if your company? Cash flow is critical to keep your business running so that you can stay ahead of payroll, expenses, and other requirements. Without a good accounting system, you won’t know the current cash flow of your company. As a result, you might be facing big issues in the future!

Expanding Business Success with Accounting Services

Not only will an experienced accounting team help you clean up your books and offer ongoing services, but you can also tap into their experience to expand the success of your company in the future. You will begin to see the value in consistent accounting management, helping you to make better decisions based on the financial projects for your company.

A financial forecast can be worth its weight in gold. By staying ahead of the bookkeeping busy work, you can move from “reactive” mode to being “proactive” to help your business grow. Messy books will put you in a situation where you are always working to put out the fires that come up. On the other hand, an organized accounting system will help you proactively plan for the future. When the current financial details are handled, then you can focus your efforts on the forward movement of your company.

How much of a financial forecast do you need? The requirements change depending on your individual situation. These reports will allow you to identify potential cash flow pitfalls in the future. At the same time, you can also make adjustments that will fast-track the success of your business. A solid accounting team can help you reach your goals and plan for big investments that will be needed in the future.

Easier Accounting: The Best Accounting Team for Your Small Business

Here at Easier Accounting, our team works hard to stay ahead of the trends in the industry. We specialize in small business accounting services, giving you access to the financial experience that you need to help your business succeed.

We are more than just a basic team of number crunchers. Instead, we are looking for ways that will support the growth of your company, offering advice and suggestions along the way. Our goal is to design an effective system that is catered to your individual needs. Then, we can implement ongoing accounting services that will keep you ahead of the financial stress related to owning a small business.

Instead of spending your valuable time on bookkeeping and accounting busy work, consider the benefits of the services that we offer. We will gladly offer that support that you need so that you can focus on growing your business without the stress of daily busy work. Our full-service accounting and bookkeeping team is a great solution to help you get back on track and stay ahead of the financial management for your small business.

Whether you are behind on your books or you are ready to improve the financial success of your company, we are here to help! Contact us at Easier Accounting for more information about the services that are available for you: (888) 620-0770

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *