Virtual Jeannie can make your life easier.
Let us help you take control of your business, bookkeeping needs,  and personal financials.

It’s understandable that when money is tight the impulse to do your own financials can be a tempting.

However, in most situations professional bookkeeping services can INCREASE the profits of your business.

DIY bookkeeping can end up over or under-estimating your profits or losses – ultimately providing inaccurate information. This can only confuse you about which direction to take your business in the upcoming year.

We’re here to help and we offer bookkeeping services near you, along with a full suite of complementary services that will cover all of your personal and small business needs.

 

 

 

To effectively utilize accounting software, an understanding of basic accounting principles is essential. Without that knowledge, possible inaccuracies in accounts can lead to a number of tax penalties. This also applies to accounts payable and receivable. Inaccurate entries can interrupt the general cash flow of a business.

A certified bookkeeper will understand the intricacies of the software and what records need to be entered into the system. Having a professional manage your accounting software can also avoid the costly process of required Certified Public Accountant corrections to your books at tax filing time.

Rules that govern proper payroll procedures change frequently. A professional bookkeeper makes it his or her business to stay on top of the current requirements needed to avoid penalties and keep your business free from liability.

A professional bookkeeper will also make sure that payroll estimates are available to allow for future financial planning.

 

A professional bookkeeper will also make sure that payroll estimates are available to allow for future financial planning.

One of the major mistakes a business can make is incorrect invoicing. Delayed invoicing can also put a strain on business cash flow. Incorrect invoicing can be a huge cost to a business; the time spent trying to reconcile invoice can be prohibitive.

A bookkeeping company can ensure that the invoice is correct and issued in a timely manner. This also applies to accounts payable. Timing and accuracy in this department will allow your business to maintain a healthy credit rating with suppliers.

An expensive mistake often made in do-it-yourself bookkeeping is incorrectly recording items as being tax deductible. For instance, claiming a full tax deduction when an item is partially being used for private purposes such as a motor vehicle.

A professional bookkeeper will keep up-to-date with the changes in tax laws pertaining to your industry and have a full understanding of what items are tax-deductible for your business.

Legal requirements for record keeping change on a regular basis. Business owners need to constantly educate themselves about what records to keep and for how long. Ideally, there are recorded details in an accounting software package for easy access and transfer to your accountant. However, backing up these financial records is equally as important. Your computer may be stolen or have a hardware issue.

Off-site back up storage should be kept in case of theft or damage. A professional bookkeeper protects the security of your financial data by safely backing them up.