Lots of entrepreneurs come to us with numerous issues. Some of them need an idea to run a startup while others are desperately in need of a professional-level bookkeeping service for their business. Many business owners just witnessed as the victims of fraud or embezzlement by their internal staff only.
Whatever may be the reason which takes them to get to us, almost every entrepreneur ends up by saying “Oh Wow!” Seeing our first service demonstration.
We are getting so many “Oh Wow!” moments and now we are also pretty proud of our bookkeeping services.
The business owners of the digital era are not dumb. They are rather the eye-opener to realize the significance of accounting and bookkeeping services to their business.
Nevertheless, there are business owners who do not even know what they are missing and what are the reasons making them struggling in the industry in the present scenario.
They think, bookkeeping is bookkeeping, right? How does it help the business in another way?
We realized the things what you are missing in your bookkeeping.
- You are not a Bookkeeper to your business:
It happens with many entrepreneurs. Usually, it has been seen in small business and startups, where the business owners are not so much educated about the complexities of bookkeeping and accounting activities. You cannot expect those things from an entrepreneur as well. The business owner started a business with the view of earning a profit, create a product, provide services or capture a market. But along with all these you need to have a clear understanding of the market to keep your business afloat in the industry. Ignorance, lacking significant expertise and sometimes less knowledge about the complication and compliances put small businesses at the mercy of domestic bookkeepers.
These bookkeepers and accountants are not qualified enough or may they do not have the right insights to deal with the stuff of financial management.
- You are not integrated with the right Accounting Technology:
An intelligent choice should be made while selecting the right accounting technology for your business. The business owners may not have a proper knowledge and idea which cause them to go with the recommendation of the current accountant in selecting the right accounting technology for their business. But you cannot depend on it for all day to day business activities. The only thing which you can get is the consolidated report at the end of the period. Say for instance there are many business owners who use QuickBooks Online for managing the accounting and bookkeeping activities. But these QuickBooks work exactly the way you are planning to use it. That means the bookkeeper should have the proper knowledge to operate it. Then only you can have the advantage of technology. Through hitting the “Generate Report” button you can get the full financial report of your business. It’s as simple as that.
So the thing is that it is not all about the right integrations but you are expected to have the right knowledge of how to use the technology and leverage the system. You will be surprised to know that there are hell lots of third-party accounting services who can be integrated with your QuickBooks seamlessly to get you the most of it. And that is the real solution to your issue.
- You have not employed the right talent
Right Bookkeeping Staff plays an important role in managing the bookkeeping and financial task of business. There is a very thin line among bad accountants, average accountants, good accountants, and rock star accountants. Almost all the bookkeepers follow the assertion of GAAP as the standard list of bookkeeping services. So if you are hiring an internal accounting staff for your bookkeeping need you should have a proper idea about what qualities in the bookkeeper, you are searching for.
Recommendations, referrals, testimonials, and reviews can help you a lot in selecting the right skill for your accounting and bookkeeping requirement. Investigate a bit about the credentials, capabilities, training, and qualification of the bookkeeper.
Many business owners do not even know about this as they may not think in the way that where they are lacking?
Is that the bookkeeping services which may be responsible for all the drama?
The answer to your question is “Yes…”
So dear business owners wake up and show your accountability. Don’t pick up your own doctor without the assistance of a medical professional. Things may go wrong. The doctor may be a good one but may not suitable for your ailment. Take decision right now before someone else points them out or the issue becomes a big future problem.