Do you run a small retail store? Is keeping up with the bookkeeping a struggle? If so, don't feel bad. You know your business and can be successful with your sales, but you do not have to be an accountant, too. Outsourcing your accounting is smart business!
Why Outsource Your Accounting?
Letting a professional take care of your accounting will allow you more time to focus on sales. On top of that, here are some more benefits you will reap.
- As long as you have the funds, your bills will be paid on time.
- Your receivables will always be up-to-date and should you have past-due accounts, they will be dealt with.
- Bank statements will be reconciled in a timely manner.
- You will always have current reports such as:
- Profit and loss statement
- Balance sheet
- A budget, should you desire
- Budget versus your actual receivables and expenses
- Detailed account of your receivables
- Accounts payable aging
- Vendor reports
- Your merchant statements from credit card transactions will be reconciled and recorded for you.
- Sales taxes will be filed.
- Your accounting professionals will handle tax filings for any taxable business property you have.
Come tax time, you will be presented with accurate information including year-end adjustments such as depreciation on qualifying assets. Your taxes will be easy to file. No more last minute scurrying around, trying to find everything your accountant needs.
You Still Have Control
You will work with the accounting service to set up a plan that works for you. If there are any aspects of your bookkeeping that you would like to retain in-house control over, you should be able to. For example, if you want to continue paying your bills, you should be able to do that. You may want to ease into relinquishing tasks over time.
Your accounting service might use a web-based software that allows you to have access at any given time. Any bookkeeping tasks you have retained can be completed online. This gives you and your outsourcer the ability to see what each has done.
If you are like many retail business owners, you spend time after hours working on your bookkeeping. Imagine not having to do that anymore. You deserve to be able to focus on your customers and selling during business hours, and you deserve to have free time when your store is closed.
Why not outsource your accounting to a professional service and get back to doing what you enjoy and do best? Contact a company like Broutman & Co., P.C. for more information.Share