Saturday, July 21, 2012

Important Reasons Why You Need the Services of Bookkeepers...




In the olden days, for many small entrepreneurs bookkeeping is not their priority.  It is not the first thing that they want to think about.  However, bookkeeping nowadays are very important whether you are big or small enterprise.  Even small stores need the services of bookkeepers.  Here are important reasons why you need to hire the services of bookkeepers.
  • ·         Business financials will be in order if you have a bookkeeper and this is a legal requirement nowadays of the Bureau of Internal Revenue.   Time would come that they want to audit your business you are up-to-date and no impending findings will arise from them.
  • ·         Well-handled accounting records by a bookkeeper will offer you with ready financial statements of Profits and Loss and so with the Balance Sheet, should you need them for loan applications.
  • ·         You can relax on doing the paperwork. Bookkeepers will see to it that all of the accounting works will be updated.
  • ·         The possibility of late payment charges, fines and penalty fees can be avoided if your bookkeeper kept an up-to-date recordings and preparations.
  • ·         Bookkeepers are efficient enough and prepared to do the right stuff in dealing with your business information to precision. 
  • ·         Accessibility to quick economical information is what every bookkeeper is aware of. For whatever invoices that you would have tossed aside, it will be nicely categorized and registered.
  • ·         If ever there is a situation arising from your business that needs to be given important attention, bookkeepers can spot right away the issues because they know the patterns of your accounting process.
  • ·         Getting the services of a bookkeeper would decrease the danger of overpaying account payable from creditors, because they would make sure that you are conscious of which records have been compensated, and which records are still outstanding.
  • ·         Your bookkeeper can reduce and simplify the accounting system which becomes a problem and pressure to you of experiencing a process you really do not want to do but know it is important that it should be done.
  • ·         Your bookkeeper can easily supply you with records so you can monitor your revenues, any highs and lows times, so you can plan in advance for such activities.
  • ·         You can right away make your fast and best decisions if your books of accounts are in order and updated by a bookkeeper, should the matter arise.
If the time comes of offering your company, customers will be able to see the real value of the company that you have proved helpful and so difficult in developing.  You will have more chance to invest your time operating ON your business not IN your business. With a bookkeeper, it will give you the time to spend with your family during weekdays not in paperwork.  No more worries organizing all of your receipts and disbursements as well as your sales.  And the most important thing, keep you updated in the preparation for your monthly and annual government obligations.
 
NATBA
National Accounting Tech. Bookkeepers Association
  is the place where qualified bookkeepers  
  can be found!

3 comments:

  1. good day. when i started a business, i realized that hiring a bookkeeper is very important. It will make you focus more on other important things like marketing and product development. the financial statement which is the end product of bookkeeping (as i understand) serves as a gauge in a business operation. thanks for the inputs.

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  2. Bookkeeping involves the recording, storing and retrieving of financial transactions for a company, nonprofit organization, individual, etc.
    Common financial transactions and tasks that are involved in bookkeeping include:
    --Billing for goods sold or services provided to clients.
    --Recording receipts from customers.
    --Verifying and recording invoices from suppliers.
    --Paying suppliers.
    --Processing employees' pay and the related governmental reports.
    --Monitoring individual accounts receivable.
    --Recording depreciation and other adjusting entries.
    --Providing financial reports.
    Bookkeeping requires knowledge of debits and credits and a basic understanding of financial accounting, which includes the balance sheet and income statement.

    Source: Professional Los Angeles Accounting Firms

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