As a small business owner, I am quickly becoming familiar with all the paperwork and bureaucracy involved in starting a business. And while sometimes cumbersome, it is important to maintain financial and business records properly.

Bookkeeping is the process of recording a business or individual’s financial transactions and is usually performed by an Accountant department. There are several advantages to maintaining accurate records, but three come to mind. 

  • Allows business owners to align their finances with goals
  • Makes business more appealing for bank loans
  • Provides a real-time overview of finances

Small businesses typically start off as Sole Proprietors with limited resources. In these instances, hiring a bookkeeper is beneficial in the role of financial recording and planning the businesses’ financial situation. 

So how do you know if your business needs a bookkeeper? Ask yourself these questions.

  • How much time do I spend on bookkeeping and updating my financial records?
  • How much cash can I put towards this effort? Experienced bookkeepers are significantly less expensive than CPAs but offer the same services.
  • Are you prepared for tax season? Do you understand the tax laws and policies? Are you organized and knowledgeable enough to prepare the proper tax documents?

To learn more on managing the paperwork that comes with operating a business, call Vanessa K or B Money today. Drop us a line via email or connect with us on our website. All of our contact information is listed below.  Subscribe and follow us on our social media platforms. And don’t forget to tune into the Business 411 Radio Show every Saturday morning at 9:00 a.m. est on the People’s Station, Choice FM 92.1.

Contact Info:

Business 411 Radio Show

Phone:  833-433-0871