Common Bookkeeping Mistakes That Can Be the Downfall of Your Business

Bookkeeping is complex, tedious, and time-consuming, but an important activity. Every business owner should make bookkeeping a priority. When done correctly, bookkeeping can provide vital business information that business owners can use to make essential business decisions. Bad or sloppy bookkeeping, however, can do more harm than good. It can lead you down the wrong path, and you may make decisions that adversely impact your business. Here are some bookkeeping mistakes every business owner should watch out for. Categorizing Income and Expenses Inaccurately If you delegate bookkeeping tasks to an employee who has no prior experience keeping books and has [...]

How Can You Maximize Profitability by Outsourcing Your Books

There are several compelling reasons to outsource bookkeeping. An expert bookkeeper near you can carry out all bookkeeping activities, keeping you focused on your most important tasks. A bookkeeping expert has spent years studying bookkeeping principles. Their expertise enables them to avoid bookkeeping mistakes. Here is how you can maximize profit by outsourcing your books. Reduced Opportunity Cost The opportunity cost of doing your books or having an employee keep your books can be too high. For every hour you or an employee spends doing books, there is an hourly wage plus the opportunity cost of revenue-generating work that the [...]