Why Hire a Bookkeeper?

/Why Hire a Bookkeeper?
Why Hire a Bookkeeper? 2018-05-10T13:01:34+00:00

Thirty Ways A Bookkeeper Can Help You Make More Money

In today’s competitive environment, information is power. When you outsource your financial management you receive valuable information to improve your cash flow, control your operations, and reduce your taxes.

Your financial statements will be prepared accurately, based on proper accounting rules and procedures. Plus, you will understand what the numbers mean, and how you can use them to manage your business more profitably.

You can save on expenses and make more money with our small business services:

  1. Send out customer statements on time so you can get paid
  2. File all customer invoices so that nothing gets lost
  3. Track late payments in order to resolve these problems quickly
  4. Ensure that you stop serving customers who aren’t paying their bills
  5. Safeguard good customer relations by properly recording all payments
  6. Accurately calculate interest, and collect it from overdue accounts
  7. Reduce the need to borrow money due to poor cash flow
  8. Ensure that you don’t lose sales because items are out-of-stock
  9. Avoid rush delivery charges to obtain out-of-stock items
  10. Stop wasting money buying more of what isn’t selling
  11. Set your sales prices based on profit instead of conjecture
  12. Concentrate on selling the most profitable items instead of the easiest ones
  13. Identify profitable cross-selling opportunities
  14. Avoid selling products at a loss because you don’t take markdowns on time
  15. Know which money-making product lines to expand, and which ones to drop because they’re money-losers
  16. Discover theft before it becomes a problem
  17. Never pay a bill twice by mistake
  18. Never lose a discount by paying a vendor late
  19. Reduce the need to borrow by planning for your payment due dates
  20. Maintain your good credit rating and keep your borrowing costs low
  21. Obtain better credit terms based on your good payment history
  22. Know how much payroll and sales taxes you owe, in order to avoid penalties and interest
  23. Never write a bad cheque
  24. Never pay another bad cheque service charge
  25. Make sure all your cash receipts are credited to your account
  26. Know when you have excess cash so that you can put it to work
  27. Track your expenses in detail so you know which ones can be reduced
  28. Never spend beyond your budget
  29. Get the maximum tax deductions for the expenses of running your business
  30. Figure your profit on a cash or accrual basis so you pay the lowest taxes

 

Get in touch today for a free consultation. There is absolutely no obligation.