How a Bookkeeper Can Help Your Business
Daily business management can get hectic and overwhelming. That’s why a bookkeeper can help. A bookkeeper can provide you with a high level of finance and business management services.
Owning and running a business takes a lot of time, a lot of effort, and a lot of dedication. You may have a clear focus with your business model. You may even have the best of intentions when it comes to being organized with your business finances. But, getting bogged down in paperwork can derail a business owner’s focus. That’s where a bookkeeper can help you stay on track.
A bookkeeper is more than just someone you pay to dig into your business accounting and manage your payroll. A good bookkeeper will help you to keep your overall business accounting expenses and receivables organized. The more you allow your bookkeeper to be involved in the management of all financial areas of your business the better able they will be to help you stay on track and solvent as a business.
5 Ways a Bookkeeper can Help
- Accounts Receivable
A bookkeeper can help to manage your overall business income, both receivables, and profit statements.
- Keeping accounting of business sales
- Provide invoice services for goods & services
- Managing credit invoices
- Managing check register & bank deposits
- Providing Profit Statements
- Payroll & Payroll Taxes
When it comes to managing employee payroll there is more involved than simply paying a salary or hourly rate. Payroll accounting includes managing the employee’s tax, FICA, and social security filings as well as insurance benefit payments. A bookkeeper can help manage all of that when managing payroll and payroll taxes.
- Payroll
- Payroll Taxes
- Management of employee W-2 and 1099 Filings
- Expenses
No doubt a business is going to have expenses. Whether it is monthly rent for your storefront, inventory that you sell to your customers, or simply travel expenses to get you from here to there, expenses are necessary to run a business. Managing those expenses can be overwhelming. A bookkeeper can help you by keeping all your expenses organized and provide you with the necessary documentation to managing your tax filings.
- Management of receipts
- Expense Reports
- Bill Paying
Along with expenses a business will have regular expenses that need to be managed through bill paying. A bookkeeper can help you to keep track of your bills, provide payment services, to help you stay focused on the task at hand, providing focused service to your own clientele.
- Pay bills daily, weekly, monthly, bi-monthly or quarterly
- Balance Checkbooks
- Provide Account Statements
- Sales & Business Tax Processing
Taxes can be so confusing for small business owners. Knowing what needs filed, where it needs to be filed and how to go about the filing, can not only be scary but it can be time-consuming. Allowing a bookkeeper to have knowledge of your business receivables and expenses can ease the burden and keep you on track so you aren’t late with any of your tax filings. Plus, they know how to save you money when it comes to allowable tax deductions and expenses.
- Quarterly State Sales Tax Filings
- Annual Federal & State Income & Business Tax Filings
While a bookkeeper does not make financial decisions for you, they can help you to have an overall view of where your money is coming from and where it is going. When knowing key financial information a bookkeeper can help you to stay informed and up-to-date. Which in turn, can help you make good business decisions that will allow you to grow your business. Then you can stay centered on your area of expertise, and have the time necessary to focus on your customer base.
Contact Cowdery Tax & Business Solutions
Remember that a bookkeeper can help your business.
This information is not intended as legal or tax advice. Cowdery Tax and its representatives does not offer legal or tax advice. We offer services for business bookkeeping, payroll, tax payments, and personal tax filings. We share information that is publicly available. Tax laws may change with or without notice that may alter or change the information contained in this publication.
