Proper bookkeeping is important to a business. If you are playing a game it is important to keep score, to know if you are winning. The same is true in a business, but the score in a business is the Profit and Loss Statement. If you are winning in a business the P/L Statement will show a profit or a profitable trend over time.
Accounting includes the historical financial record of the business and the maintenance of records to keep up to date on the tax responsibilities incurred by the business during its operation. Payroll taxes and property taxes if not paid can destroy the ability of the business to operate. Prompt attention to these is vital. Records should be maintained to substantiate business operations if an audit is necessary to prove proper accounting.
Consulting with your accountant can help you to improve the operation of your business by managing expenses, better handling of the income, and helping to know where the business should be investing based upon sales and return on investment.
Proper accounting, payroll and tax preparation for a business is an expense that will pay back you time over time.
Whether you want full accounting/bookkeeping services or payroll or only quarterly reporting Call me to get a quote and see how we can help you grow your business.
