Businesses have two choices when their business books get so messy – either decide whether it is worth their time to do it themselves or hire professional accountants who will do all the hard work involved. We suggest the latter.
Most businesses of all sizes fail to manage their business books, and they do this for one simple reason: they don’t know-how. If you’re not sure how to start, or if your bookkeeping is a mess with no end in sight, the chances are you need guidance from an experienced cloud accountant. A lot of business owners struggle with managing their books. It can be an arduous and long process, but it is important to know how your financials are doing. Keeping track of who owes you money, what you owe others, and where the cash flow is going in and out of your company will help keep you on top of everything and provide you key insights into how your business is functioning.
How can you aim for goals if you have no idea what your target is?
I don’t know about you, but my dart game isn’t exactly on point. I can barely hit the board when there’s nothing in front of me to obstruct my vision! Now imagine trying to throw a dart blindfolded into a moving target?! It sounds like a nightmare if it were applied to your business—you couldn’t set budgets, would be hard-pressed finding out who owes what, then vendors start constantly calling with overdue bills, which you swear was paid last week – all this while having no clue about whether or not are even making a profit.
Hire a cloud bookkeeper to get your business books organized.
You don’t just want any bookkeeper; you need an experienced cloud bookkeeper who understands the technology and automation of back-office tasks. Back-office tasks are often ignored as they can seem tedious and forgotten. However, these jobs are just as important in a business’s success than any other aspect! They involve tax requirements, debt repayments, financial reporting, and forecasting; if left undone or done incorrectly, it could mean disaster, with its consequences being bankruptcy, amongst others. So, when your business books become too much work, take advantage of cloud accountants who will fix things up for you quickly so that all aspects of your company may continue functioning smoothly.
Every business owner’s BIGGEST RESOURCE is TIME.
There’s a popular time management analogy about rocks, pebbles, and sand. It goes something like this: Imagine you have an empty jar with some tiny grains of sand, small stones, and rocks (representing all the tasks that need doing). If you start to fill your jar by adding only the tiny grains of sand and small stones first, you’ll leave no space for larger rocks when they’re added last. Instead, fill the jar with rocks first, then stones, then sand. This way, there can be more room for strategically important tasks that help grow an organization. Putting the most important tasks first with high priority will allow you to make significant progress in growing your business.
Why waste your valuable time on doing something you are not good at? Instead, you should hire a cloud bookkeeper who knows the tips for cloud accounting and online bookkeeping. Preventing messy business books is much easier than fixing messy business books.
The chances are you are just too busy to get them organized yourself, and that is ok. Every other successful business is too busy too. Fixing your own books is like trying to put the sand into the jar first. You are leaving no room for the rocks (which are tasks like landing big business deals, delivering quality work, designing processes for your employees to become more efficient).
But isn’t it expensive to hire an accountant to do business bookkeeping?
Not when you consider the fact that if you are audited and cannot provide copies of receipts, the CRA will have the right to deny your expenses, and you will get no tax deduction. This means your tax returns will be reassessed, and you will be left with a surprise tax bill. If you have an experienced cloud bookkeeper, they will find ways to automate data entry using tools like Dext and QuickBooks Online. In the end, this will save you time and money since technology and automation are improving the speed of data entry. This means your cloud bookkeeper can do more than just recordkeeping. At Argento CPA, we combine virtual accounting and bookkeeping technology and automation with unlimited, on-demand advice from Chartered Professional Accountants.
Contact Argento CPA today if your business books are a mess and you are too busy to get them organized!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
