Starting a business is easy compared to growing it and keeping it afloat long-term. You can get started around the kitchen table with a laptop and a few spreadsheets. However, when it comes time to make your business thrive, you need something more. You need a bookkeeper.
Why? You need to raise capital. You need to scale your business. You need to make good decisions on how you spend your money, time, and resources. A bookkeeper can help you gather the critical information you need to make this happen.
Here are a few reasons why you need to hire a San Diego bookkeeping service for your company:
#1 You Need to Spend Your Time Wisely
You have to wear many hats as a small business owner. Doing bank reconciliation and paying bills takes time that you could be spending on growing your business. A bookkeeping service can take this off your plate.
#2 You Need Accurate Numbers
If your accounting is not up to date and accurate, you are flying blind. And that means you are making decisions based on gut feelings. Talk about an easy way to tank your business.
Every time you make a financial decision for your business you need to know where you stand. It’s the same no matter if you are buying inventory, funding a marketing campaign, or hiring a new employee.
A qualified bookkeeper can make all the difference. That person or team can keep your numbers accurate so you can make sound business decisions at all times.
#3 Keep the Cash Flowing and the Fees to a Minimum
When you aren’t trained on how to do bookkeeping, or you just don’t do it, it’s so easy to get behind on the bills, run into cash flow problems, or face sales tax penalties for non-payment.
Hiring a bookkeeping and accounting service is the better choice. It will significantly lower the risk that you run out of cash or have to pay tax penalties, which will save you money in the long run.
#4 Another Opinion on Financial Business Decisions
It’s so easy to lose sight of the big picture when you are trying to run a small business entirely on your own. When you need to make major business decisions, it’s good to have someone with a less biased opinion weigh in. Your bookkeeping service will give you another perspective and can help you avoid making the wrong choice.
#5 Less Stressful Tax Preparation
A bookkeeper makes tax preparation easy. Within a few weeks of the end of the year, up to date reports go to the accountant who prepares the tax returns. If there are any questions, the bookkeeper can handle them. This helps the returns get done faster and with lower fees. The accountant’s job is easier and your life doesn’t involve any accounting or bookkeeping.
Work with OnTrack Today
If your San Diego start-up is taking off, now’s the time to hire us for your accounting and bookkeeping service needs. Schedule a meeting today.