There are a number of great reasons you should consider a bookkeeping service but Carefree Bookkeeping breaks down the top eight high-level reasons.
More than 50% of small business fail and the majority of those failures can be attributed to poor financial management. Why draw yourself away from what you do best; producing your product. You may think that you’ll be saving money by doing your own accounting, but the truth is that a good accountant will save you money and possibly your business in the end. Use this bullet list to help check off those points that best describe your current situation or fit your current business goals.
(1) Trustworthy Partner
- Have someone to help you with your business problems
- Have someone that understands your business and can communicate with your tax accountant
- Help make a business plan
- Help plan or set goals for 1 year out or 5 years out
(2) Worry-free Tax Payments
- Do you feel you’re paying too much in taxes?
- Are taxes filed on time?
- Are you getting letters or penalties from the IRS or State?
(3) Monitoring Bank Relationships
- Help to get a bank loan or shop banks
- Print off a financial report for your bank
(4) Review of Financial Statements
- Know what’s going on in your business financially
- Know if you made money last year and how much
- Know how much to make to cover Admin cost
- Know what your current making
- Make enough to pay your yourself the salary you want
- Have a positive cash flow
(5) Maintain Cash Flow
- Are your vendors calling you for money?
- Are your customers paying you on time?
- Are your vendors helping your company?
- Do your projects come in on budget?
(6) Business Development
- Know what your best customer looks like
- Know what’s working well in your company
- Know how many clients or products you need to meet your financial goals
- Know how much money your customers make you
- Know which product is profitable and which isn’t
- Know how much your product or job costing
- Do you get referrals or repeat business?
- Do you know what isn’t working in your business?
- Are you managing your business or is your business managing you?
(7) Individuals & Families
- Set up a Monthly Budget
- Set up a Cash Flow Plan
- Set up a Debt Payment Plan
- Financial Freedom
- Savings Plan
(8) What’s a Great Bookkeeper
- Positive Outlook
- Difference Maker
- Hard Working
- Manage Multiple Projects
- Detail Oriented
- Personable & Caring
If you have 10 or more bullet points checked off,
it’s time to give us a call.
Carefree Bookkeeping specializes in business owners who have 1-10 employees and work from either a home office or another dedicated brick-and-mortar location. We help that business owner who is juggling too many balls in the air with minimal to no internal staff help. Carefree takes care of the accounting ball with the same care and attitude of a business partner.