Why Bookkeeping is Important
Many of our clients ask, “Can’t I just use my checkbook or my bank statement?”
The purpose of bookkeeping is to review your financial statements and make profitable business decisions. Many small-medium business owners guess at how well they’re doing. They “feel” like business is improving because, maybe, they’re busier than normal. They “think” they’re profitable. They really don’t know how much is owed to them or how much they owe because they don’t know or don’t have the time to make the numbers tell their story. The proof is in the numbers. Cash is King, as the saying goes. Bookkeeping provides financial insight you need to grow your business.
The solution to knowing where your business stands, financially, is small business bookkeeping services. With proper bookkeeping, you will be prepared to make well informed business decisions. Core has 23 years of bookkeeping experience as well as formal education in accounting and taxes.
You hire an accountant. You hire a plumber (unless you are the plumbing business). You hire a dentist and a doctor – all because you want experts focusing what they do best. You are a business owner, an expert in a non-accounting product or service. We use our skills to make your life easier every single day. No more worrying about learning accounting concepts or accounting software or how to record expenses. Leave the bookkeeping to us.
Regular bookkeeping offers you a number of benefits including books that are accurate and organized. With bookkeeping, you are able to keep better track of your revenues and expenses and ensure that all of your customers are being billed correctly and all of your vendors are being paid on time.
Bookkeeping services gives you your time back. No matter if your business is just starting out or has been in business for over 30 years, bookkeeping is time consuming. With your books in our hands, your time is freed up to deliver higher quality service to your own customers, while also improving your productivity.
Bookkeeping services save you money. With updated financials, you are able to take full advantage of all tax deductions available to you. You also don’t have to scramble around looking for receipts on previous transactions. You save on employee costs of an in-house bookkeeper. A bookkeeper salary is typically $40k-$50k (plus all the other expenses that go along with having an employee). Outsourced bookkeeping is but a small fraction of that.
Speaking of taxes, bookkeeping makes for a smoother tax process. When bank statements are reconciled and financial reports prepared, filing your small business tax return is short work for your accountant.
