“Shoot, if I had only known!”
How many times have you said that to yourself. If you had only known that your favorite restaurant had a free dessert Wednesday night or that suit you wanted was half price, yesterday, or that the radio station was giving away tickets to your favorite singer’s concert.
Oh, if only…
It’s a familiar lament but, sometimes, there are second chances to great opportunities. Those opportunities missed are aggravating because you realize that you’ve lost out on something beneficial to your life. However, there is a much more important opportunity that exceeds any dessert, suit or concert ticket. We are speaking of small business accounting, of course.
Your business pays the bills and may even be the main source of income for your employees. It is crucial to your life. Don’t take the accounting and bookkeeping services your accountant has to offer for granted.
As any accountant will tell you, you may understand a lot about bookkeeping, but no one knows everything. Leave that to the professionals.
So, here is a list of small business accounting services your accountant has and you should be using:
- Quickbooks Advice: Quickbooks is always updating, changing and upping its game. It is still the premiere business accounting program. Sometimes, keeping up with those changes can be a chore, if not impossible, during your long work weeks. Your accountant must keep up with the updates as they are probably using it themselves! Utilize their knowledge and expertise on this program and all you have to do is call.
- Setting up an Accounting System and Structure: Starting a business is a huge challenge and getting the correct accounting system for your business can be agonizing. There are many choices and many different fees. Do you know which accounting system is best? Most business owners and managers are not accountants plus they have too much on their plate, already. So, contact your accountant. They will analyze your business according to volume of business, number of employees and other factors to help you figure out which accounting system is best for your business. Then, your accountant can help you install it and set it up.
- Startup/New Business Consultation: You’ve got a great idea for a new business. You’ve done the research and even chosen a storefront. But, how do you get the financing? Hire employees? Set up payroll? Purchase inventory? Those and many important questions need to be answered. Your accountant can help you make all of these crucial, business startup decisions and get the launch of your dream off right.
- Record-keeping techniques: It is imperative that your business keep accurate accounting records. You have to deal with suppliers, employees, vendors, landlords, travel agents, garages, the IRS. That’s no small list of people and agencies who depend on your company to pay them. So, use the best accounting record-keeping methods you can find. Your accountant can advise you on what you can use that will be efficient, affordable and can be used by everyone in your company.
- Assistance with registering your company with all the appropriate tax authorities: What is an LLC and should your company be one? Which tax authorities do I register with in Washington, D.C., Maryland or Virginia? Or, should I register with all three? Do I need any licenses and permits to run my business? All good questions and they need to be answered. Your accountant can help you register, apply for the correct permits and licenses.
Did you know that these are just some of the services that your local accountant can provide for you and your company, no matter what its size or if it hasn’t even opened its doors, yet?! Like most business owners, you probably didn’t know it.
Running a business is hard work. Don’t make it even harder. Contact your accountant and have them be a partner in your success.