There are huge benefits to having a good set of books for your small business.
Having a good set of books will broaden your finance skills as a business owner.
Want to greatly enhance your ability to achieve your goals?
Following are 9 benefits to Business Owners of bookkeeping done right:
- You will be able to make informed decisions based upon fact, not feelings. Use your books to improve your products and services, to analyze pricing, business segments and gross margins, etc.
- You will know exactly where your business stands financially. It has been said, facts are our friends – and it is so true. I know of a business owner who had no idea he had lost money on some jobs nor how much debt he was in until we got a set of books up and going.
- A good set of books will allow you to set goals and track progress against them. You do have business goals correct?
- A good set of books will allow you to increase your cash flow. Who wouldn’t want that?
- If you’re a business owner who is trying to keep up with the books on paper or a spreadsheet, engaging a bookkeeper will give you more time to focus on income generating activities, friends and family.
- Employing good bookkeeping practices will help protect you from fraud and embezzlement.
- A good set of books will allow you to be prepared for not only an audit, but for a bank loan, bringing on a partner or selling the business.
- A good set of books and practices will keep you in compliance with local, state and federal laws.
- You could have less stress. Stress is also caused by things we don’t do. If your business is not generating the profits you need, the first place to start is your books and doing some financial analysis. Invest in someone with the skill set to help you move your business forward.
Ready to move your business forward?
I’d love to see how I can serve you. Schedule a free consultation.