What you know, helps you succeed and grow. As a small business owner, you know the products or services you sell. If you are successful you know how to keep, win, and grow your customer base. When you get a customer inquiry, you know how to answer their questions and provide good solutions. It takes time to learn and document the accounting story of your business. A good accountant can and will help you achieve this important goal. A small business owner should know the dollar value of their time. You can determine the value of your time by examining the income and expenses of your business.
If you divide your income by the time spent working your business, what do you earn per hour? Bottom line is that you reduce your earnings potential when you do your own bookkeeping, as it takes up your valuable time. You can create additional operating costs if you make mistakes while doing your own bookkeeping. Certain accounting and bookkeeping errors will require you to pay someone to help fix the error. A partnership with an accountant that is a Member of the ProAdvisor Program will ultimately save you time and money. Your accountant will improve the quality of your life by taking your mind off your books so you can focus on your business. They can help you create income forecasts and operating budgets as they master your financials.
Business Owners Need Financial Reports for Loans & Investors
Too many businesses rely on loans and credit cards that increase their cost of doing business and decrease their net profits each month. Getting loans and lines of credit increase the debt of your business. It is important to keep the liabilities of your business as low as possible. If you can run your business without increasing your liabilities, you are in doing well. A successful business is profitable and can invest in its own growth. Having accurate financial reports will give you a clear picture of the profitability and growth potential of your business. Understand what you can afford to do without increasing debt. Note that good financial reports are needed to obtain a small business loan and they can also attract investors.
Sales Reports Provide Business Insights and Save Time & Money
You need to know your busy and slow seasons. You can benefit from reports that highlight your best-selling products or services. Accounting reports provide insights into the types of customers to focus on. Repeat sales represent happy customers that refer you to others. Do not spend money to market low-volume products or services for which there is no consumer demand. Businesses do not sell a lot of bicycles in the winter or sweaters in the summer. Sales reports help small business owners reduce marketing expenses and increase sales opportunities. Promote sales with discounts for bundled products and services. Create custom reports that provide you with sales by location and sales by classification for more insights.
Cash Flow Reports Make Managing Money Easier Each Month
A Statement of Cash Flows report provides you with a snapshot of how much cash your business has at the end of the day. You can see your income, expenses, money owed to your business, money that your business owes, and how much cash you would have if you paid all that your business owes and collected all that was owed to your business. If you have cash at the end of the day your business is profitable. Small business owners can grow their business by using financial reports to understand their accounting story. Our CFO can provide you with insights on your monthly financial performance with a simple email request.
Your Personal Guide to Seamless Accounting: Advanced QuickBooks ProAdvisor at Your Service
Hey there! I’m Gina, and I’m the proud co-founder of Lend A Hand Accounting. Why did I start this? Well, I believe that everyone should have access to affordable, efficient, and flexible accounting and bookkeeping services. It’s all about making sure these essential services fit snugly into your budget without any fuss.
We’ve ditched the traditional hourly rate system and adopted a flat fee pricing. You might be wondering, “Why does this matter?” Well, this way, you know exactly what you’re paying for upfront and there are no unexpected surprises. You get to pick and choose the accounting services you need, like a customized menu. And the best part? You’re in complete control of when you start or stop using our services. We’re essentially just a call or a text away, no need for endless phone calls or draining trips to the accountant’s office.
I’m not just any accountant though. I’m an Advanced QuickBooks Online ProAdvisor. That means I’m equipped with advanced expertise and resources to help you leverage QuickBooks Online to its full potential. My goal is to make your accounting process smooth and efficient so you can focus on what you do best – running your business.
Ready to get started? Reach out to me directly at 360-637-4799. We can even kick things off immediately if you’re ready. Simply create a free account, and I can instantly take a look at your books and let you know where you stand.
At the end of the day, we’re here to serve you. We really appreciate the trust you place in us and we’re eager to meet all of your accounting and bookkeeping needs. Looking forward to being part of your team!
Take care,
Gina
The Content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
