Bookkeepers, Why We're Important

I created this marketing post for social media websites. Bookkeeping doesn't just save the owner time; it also saves them from misrepresenting their numbers. Bookkeepers are trained to follow the accounting cycle, know how to categorize transactions, reconcile accounts, keep an eye on aging invoices and bills, look for accounting errors, and much more! Bookkeeping is my business. Your business is your business. It's what you are best at!

Owners need to have a network of professionals to help their business succeed. Two professionals all businesses need are CPA's, or tax preparers, and Bookkeepers. When you get those two working together, you can feel secure that your books are accurate (bookkeeper) for your CPA/tax preparer and your taxes are reported correctly (CPA/tax preparer) to avoid penalties or needing to do addendums.

Imagine this scenario: it's tax season. You are behind by several months on your books, you have a project for a client coming due that needs to have your focus, so you hurry to finish recording your receipts, bills, etc. You report a net income of $20,000 for the year, but you feel like that number should be more. You don't have time to figure it out, so you just leave it. Months down the road, you hire someone to do your bookkeeping because you don't have the time any more, and when they are reconciling there is a transaction that is not matching. Come to find out, you transposed a number in the rush a few months back. You didn't catch it at first because you were in such a hurry, you didn't bother to reconcile your accounts. Instead of reporting an expense of $5,700, you reported it for $7,500. This means you understated your net income by $1,800. Not a whole lot to be worried about, but what if it was more? Your CPA didn't catch it because they don't do your bookkeeping. The books are closed and your taxes have been filed. You can't go in and just manually fix the expense now or delete it and do a new one. A journal entry will need to be done to reverse the incorrect entry and another one for the correct entry. Then you need to let your CPA/tax preparer know just in case you need to do an addendum on your taxes.

If you originally had a bookkeeper, your books would have been caught up for the tax season, your focus would have been on the project for your client, and the error most likely wouldn't have been made (come on, we are human, but we do pay attention to detail). If the mistake was made, the bookkeeper would have caught it while reconciling. You would have saved yourself the time you used to catch up on your books, saved yourself from misrepresenting your financials, and saved yourself a lot of headache!

Bookkeepers don't just enter the data and move on. We keep track of all the financial incomings and outgoings for the business. We categorize the transactions correctly. We reconcile the transactions to verify nothing is missed. We prepare the financial statements and verify they are accurate and current for the CPA/tax preparer. And we want to help your business succeed!

Schedule your FREE bookkeeping consultation today!

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