We cannot emphasize enough the importance of keeping your financial data both current and accurate. When you regularly update your books, you get an accurate picture of the status of your business. You can use up-to-date data to make informed business decisions.
Maintaining books and accounts is a tedious, time-consuming process. As your business grows, keeping track of your business cash flow can seem like an uphill battle. You are sure to have better things to do than tracking payments and receipts. When the accounting tasks of your business are too much to handle by yourself, hire an accounting firm near you to maintain your books of accounts.
The Role of an Accountant
Your accountant will help verify and analyze your business data. The professional will use data to generate reports, perform audits, file income tax returns, and prepare your balance sheet and income statement.
Your accountant will use financial statements to paint a picture of your company’s financial health. They will analyze data to provide information for forecasts and business trends and help you identify market opportunities for business growth.
An accountant performs many of these duties:
➢ Payroll processing: determining payroll requirements, maintaining, and preparing monthly payrolls
➢ Coordinating with auditors to conduct audits
➢ Preparing tax returns, financial reports, and books of accounts
➢ Analyzing revenue and expenditure trends
➢ Suggesting cost control measures
➢ Establishing and overseeing the implementation of accounting and accounting control procedures
➢ Preparing accounting documents such as budgets, invoices, and income statement
➢ Supervising the input of financial data (into the system) and handling of data and reports
➢ Conducting risk assessments
➢ Identifying issues and recommending best practices to maximize profits
Finding the Right Accounting Firm
Hiring a small accounting firm near you to manage your small business finances is an important decision. Before hiring a professional, you need to make sure they are worthy of your trust. Follow these tips to find a professional you can count on.
➢ Check the professional’s credentials. Make sure they are registered with a professional body such as the Association of Chartered Certified Accountants. Look for a CPA or CMA certified professional.
➢ Ask for recommendations.
➢ Invite quotes from at least three providers. Before hiring a professional, make sure you understand how they bill.
➢ Talk to references provided by your preferred vendor. Ask them about their experience of working with the pro.
➢ Check the technology proficiency of the pro.
Virtual Jeannie Bookkeeping Services offers a full range of bookkeeping services. Whether you are planning to build a bookkeeping system from scratch or want to streamline an existing bookkeeping system, we have got you covered. To discuss your requirements with a bookkeeping expert, call (707) 664-1425.