Is 2017 the Year that You Should Hire a Bookkeeper?

As a small business owner, is it essential to ensure that you are keeping up with financial management to set your company up for future success. If you have delayed outsourcing for certain tasks, such as bookkeeping, then you might consider the benefits of bringing on someone to help this year.

Here are a few reasons that you need to hire a bookkeeper to help with your business finances:

Simplify Your Workflow

How much time are you spending daily on busy work? If a portion of each day is dedicated to managing the financial details of your company, then you need to consider the benefits of hiring someone to help. When you are focused on these small details, then you are losing valuable time that should be spent working on strategy and management.

Your daily workflow can be simplified by outsourcing the busy work to free up your time. When you hire a bookkeeper to help, then you don’t have to deal with issues such as data entry or account reconciliation.

Industry Expertise

Even if you are capable of keeping up with the data entry and other tasks, you might be missing out on the benefits of knowledge and experience. A bookkeeper is immersed in the financial industry, giving you the opportunity to tap into their continuing knowledge and advice to handle specific situations.

If a financial problem arises, you don’t have to handle the issue on your own. Instead, you can learn about strategies that have worked in the past. This process eliminates the guesswork in financial management, giving you a proven system that will be best for your company.

Manage Expenses

It might seem counterintuitive to pay money for someone to handle a task such as bookkeeping. But, there are other financial benefits that your business will be able to gain from these services. For example, a bookkeeper can help with cash flow management, which reduces the amount of interest costs that you are paying for credit lines. By avoiding late fees and staying current with billing and invoices, your bookkeeper can maximize the use of your money and reduce the unnecessary costs that might pop up along the way.

Are you ready to hire a bookkeeper to help your company this year? Talk to our team at Easier Bookkeeping to learn more about how we can help with your small business: (888) 620-0770

Bookkeeping 101: What You Need to Know about Hiring a Bookkeeper

Do you know that bookkeeping services could drastically change the financial outlook for your company? It is common knowledge that small business owners need to keep up with financial tracking and strategy. But, too often these tasks fall to the bottom of the priority list.

If you own a small business, then it is essential that you consider the benefits of hiring a bookkeeper. You have a lot of responsibility to deal with many aspects of business management, and outsourcing the bookkeeping tasks can reduce your stress levels so that you can focus on other important daily tasks.

How Can a Bookkeeper Help Your Business?

To put it simply, a bookkeeper is a financial professional who can help with managing the money that flows through your company. Bookkeeping services are focused on tracking revenue and paying the bills, to be sure that financial responsibilities are met throughout the year.

Not only do bookkeepers track the numbers on a daily, weekly, monthly, and annual basis, but they can also offer financial advice to help with the future success of your company. The goal of these services is to ensure that your business runs smoothly. By tracking cash flow and setting expectations for the future, you can make decisions right now that will positively impact the outlook for your company.

Employee or Outsourced Bookkeeper?

It is easy to see why bookkeeping services are vital for your business. Once you’ve decided that you need someone to help with bookkeeping, how do you get started? A common misunderstanding is that an employee needs to be hired to take care of these tasks. But, you don’t have to bring someone else onto the payroll. Instead, you might consider the benefits of hiring an outsourced bookkeeper.

Outsourcing the bookkeeping tasks can be beneficial to protect the financial interests of your company. You will have a third party checking the numbers to detect potential fraud that might be happening among your employees. Additionally, the overall costs of these bookkeeping services are often cheaper compared to hiring an employee. When you choose an outsourcer, you don’t need to worry about paying for payroll costs or benefits.

Bookkeeping Services for Your Company

These bookkeeping services can be catered to your individual needs. Here are a few things that you might want the bookkeeper to help with:

  • Payroll management
  • Creating and sending invoices
  • Paying the bills
  • Documenting sales that come through
  • Verifying vendor costs
  • Sending payroll taxes
  • Running financial reports
  • Handling sales tax tracking and payments
  • Reconciliation of bank accounts

Your bookkeeper can help with these financial tasks, and also make recommendations about things that need to be implemented in your company.

Are you interested in learning more about the benefits of small business bookkeeping services? Call us at Easier Bookkeeping to see how we can help: (888) 620-0770

Don’t Be Embarrassed about Asking for Bookkeeping Help

Small business owners carry many responsibilities throughout the week, and often there is a do-it-yourself mentality in an effort to save money. Instead of hiring employees or outsourcers, the business owner tries to do everything on their own. But, this approach can lead to problems in the future, especially if you don’t have the experience to handle certain tasks.

Keeping Up with the Bookkeeping

If you are behind on your bookkeeping or having a hard time keeping up with the financial tracking, then right now might be a good time to ask for help. As the business grows, these financial tasks get bigger. Eventually, overwhelm might cause you to ignore the bookkeeping because it is too much to handle.

Instead of ignoring the growing stack of paperwork, it is better to take a proactive approach by hiring a small business bookkeeper to help. If you are ever unsure about what you should do to handle certain financial aspects of your company, it likely means that you need to consult with a professional.

Benefits of Outsourced Bookkeeping

There is nothing wrong with outsourcing these tasks. In fact, hiring a bookkeeper could be the key factor that helps you grow your business in the future. When the bookkeeping service is handling the ongoing financial details for your company, it frees up your time so that you can focus on other responsibilities instead.

A bookkeeper will help you stay proactive with your financial tracking. Then, when a question or an issue arises, you will have someone there to offer advice and assistance. An experienced small business bookkeeper will watch for ways that you can maximize tax deductions or minimize spending. They also give you the peace of mind to know that you are staying in compliance with tax laws.

Employee or Outsourcer?

If you are feeling stretched too thin, then you know that you need to hire someone to help. There are many benefits to hiring an outsourcer instead of an employee. Outsourced bookkeeping services mean that you don’t have to worry about the burden of employee benefits, overhead costs, or payroll taxes.

Outsourced bookkeeping gives you access to the financial expertise that you need, without the requirement of hiring an in-house employee. You can save money and manage your business finances at the same time.

Do you want to learn more about the benefits of small business bookkeeping services? Call our team at Easier Bookkeeping for more information. We are here to help your company succeed: (888) 620-0770

3 Reasons You Should Consider Outsourcing Your Business Payroll

It doesn’t matter if you have 2 employees or a team of 200, payroll can be a hassle for business owners. When payday rolls around, do you feel your stress levels go up? Right now is a good time to put an optimized payroll system in place, and you should consider the benefits of outsourced payroll services.

Payroll can be complicated for several reasons, which means that you might mistakenly miss important details throughout the year. Here are three benefits that you will receive when you choose to outsource your business payroll:

1. Employee Satisfaction

Happy employees are the foundation of a successful business. If your employees are receiving late or incorrect paychecks, then they might have negative feelings about the company. There is always a risk of turnover in every company, but you might consider a few proactive steps to retain good employees.

When you have a bookkeeping team handling your payroll, you can rest assured to know that payroll will always be completed on time. As a result, your employees will be happy, and it will have a positive impact on employee retention.

2. Experienced Payroll Processing Team

Payroll taxes change, and it is essential to stay current with the new rates and changes in payroll tax law. By hiring an outsourcing team to help with payroll, you can sit back and let the experts handle the details for you.

An experienced bookkeeper will know everything there is to know about tax laws and bookkeeping implementation. As a business owner, you should focus on the other responsibilities within your company. Don’t waste your time trying to figure out complicated tax law, because an experienced outsourcing team can do that for you.

3. Technology Issues

If your bookkeeping software is outdated or you have old equipment, then it is possible that technology problems could hinder payroll processing. Instead of letting technology get in the way, hire an experienced team that can offer the payroll processing services that you need. We make sure that you are using current software, tax calculators, and more to ensure the quality of your payroll processing. These details matter!

As you can see, there are many benefits to hiring an outsourcer to help with your bookkeeping. Call Easier Bookkeeping if you are ready to experience these benefits for yourself. Our team is here to help, contact us anytime for more information: (888) 620-0770

How to Manage Business Expenses to Minimize Overhead Costs

An experienced bookkeeper is a great resource to have so that you can easily track your business expenses. Do you find it difficult to keep up with costs, invoices, and payments that are made? Instead of using your valuable time for this busy work, it is better to hire a small business bookkeeper to help.

By working with a financial professional, you can also receive important advice about minimizing business expenses. Reducing spending is an effective way to increase the profitability of a company, and many small business owners overlook this strategy. Here are a few areas that you should watch if you want to reduce business expenses:

Credit Card Processing Fees

In our digital age, many customers want to pay with plastic. Each time you process a credit card, you will incur fees on the transaction. These fees are usually a percentage of the transaction, and they are higher if you manually enter the credit card number instead of swiping the card. So, if you have the card available, it is better to swipe instead of using another method to process the credit card number. Also, consider the advantages of shopping around to see if you can find cheaper card processing services from another company.

Buy in Bulk

How many times do you run to the office supply store to buy printer paper or pens? These seemingly small costs can add up over time. Compare the per-unit costs to see if you might be able to save some money by buying in bulk. Sometimes, it might make sense to buy a full year of office supplies if it is cheaper than buying the products monthly.

Outsource

Have you calculated the costs of having a full-time employee? You are paying more than just their annual salary. Other costs need to be factored in, such as benefits, employment taxes, worker’s compensation insurance, office equipment, office space, and more. Instead of hiring a full-time employee, consider the benefits of choosing an outsourcer to handle the workload. You have the benefit of the skills that are needed, without bearing the cost burden of another employee on the payroll.

Here at Easier Bookkeeping, we want to help you manage your business expenses by keeping your books organized. We invite you to contact our team to learn more about the bookkeeping services that are available for your company: (888) 620-0770

Behind on Your Taxes? Here’s What You Need to Do!

Everyone knows that taxes need to be filed every year, but there are instances where these tax deadlines get missed. For small business owners, sometimes it is stressful to keep up with all of the tax responsibilities throughout the year. Even though you might be able to get away with it for a few years, eventually the IRS will come looking for the money that is due.

If you were too busy to get your taxes filed, then there are a few things that you should do to fix the problem:

Hire an Accountant to Help with Tax Filing

Since you weren’t able to complete the tax filings on your own, then it makes sense that you should hire someone to help. An accountant will be able to work on your current tax return, and they will also make recommendations to help you catch up on the overdue tax returns.

When you are working with an experienced accountant, they will help you minimize penalties and tax burden. These costs can add up, so it is essential to be sure that you have someone to help.

Improve Ongoing Bookkeeping Systems

One of the reasons small business owners miss tax deadlines is because they are overwhelmed with the work that is required to gather all of the necessary information for the tax filing. By implementing a high-quality bookkeeping system, you can stay ahead of the tracking and be prepared for tax season.

Most business owners don’t have the time to keep up with daily, weekly, and monthly bookkeeping tasks. Instead of adding another thing to your busy schedule, it is better to hire a bookkeeper who can help.

Pay the Penalties to Avoid Future Problems

At some point, you will need to go through the discomfort of paying the penalties and back taxes that are due. These costs won’t go away, so it is best to pay them right now to avoid additional costs in the future.

At the same time, make it a point to stay caught up with your tax filings. Now that you know the problems that can occur by skipping tax filings, you can see the benefit of staying proactive each year at tax time.

The best solution to stay ahead of your tax obligations is by hiring a professional financial team to help. At Easier Bookkeeping, we offer the bookkeeping and accounting services that will help you stay ahead of your business tax requirements. Contact us today to learn more about how these tasks can be outsourced to reduce your stress: (888) 620-0770

Basic Bookkeeping Advice for Startups and Entrepreneurs

Good bookkeeping practices are often overlooked when a new business is started because the business owner is too focused on products, research, and development. Even though bookkeeping seems like a task that can be addressed later, it is much better to take action right now to set up a good system for your new company.

Why is Bookkeeping Essential?

The right bookkeeping practices can help you maintain accurate financial books, which will have a domino effect on all other aspects of your business. This information can help you see where your company might be losing money so that you can make adjustments to daily business practices. At the same time, you will also be able to identify the most profitable areas easily to put more focus and effort into the things that are working.

Failing to keep up with financial tracking could result in a situation where you make wrong business decisions. If you don’t understand the financial health of your company, then it is difficult to make the choices that will support future growth and development.

Running a business without a good bookkeeping system in place is like driving a car blindfolded. If you can’t see the street, then you might accidentally steer off course and crash into something. Additionally, failing to monitor the dashboard displays limits decision-making abilities along the way.

Getting Started with a Good Bookkeeping System

When you are starting your company, these bookkeeping practices should be at the top of your priority list. The financial tracking system should be in place as soon as possible to facilitate the growth of the company.

It is also a good idea to put together a high-quality filing system to keep track of receipts and other paperwork. Even if you keep digital copies of the receipts, it is still beneficial to maintain a computer file with all of the necessary documentation.

Make sure that you have a separate bank account for all of the business transactions. Some business owners use the same bank account and credit card for both personal and business spending. This practice can result in a big mess that needs to be cleaned up in the future.

If you don’t have experience setting up and maintaining a financial system, then the best thing that you can do is hire an experienced bookkeeper to help. Here at Easier Bookkeeping, we specialize in small business bookkeeping services. Our team is here to assist with the setup and maintenance of the financial tracking system for your company. Call us right away for more details: (888) 620-0770

3 Reasons You Need to Maintain Current Employee Records

Are you consistent in keeping up with your employee records? The names, addresses, and other applicable information needs to be updated on a regular basis, to be sure that you have accurate records for your workforce.

Most companies are consistent with gathering this information when a new employee starts working. But, the details can fall through the cracks when it comes time to update employee information. Here are a few reasons why you need to stay consistent with tracking these details:

1. Tax Paperwork

At the end of each year, it is necessary to send out a W-2 for each employee. These forms need to be postmarked by January 31st every year, and they detail the annual wages for each employee. This information needs to be provided to both the IRS and the employees because the wage information will be used for the annual tax filing.

If you don’t have an accurate address for each employee, then it is likely that the tax forms will be sent to the wrong place. As a result, it will be more work for you to reprint the document and distribute it again to the employees who didn’t receive their W-2’s.

2. Paychecks

Even if employees are paid by direct deposit, it is important that you have the correct address for their paychecks. The physical address for their payroll information needs to match up with the information that the bank has on file. Also, it is best to have the right address in case the pay stub or the paycheck is dropped in the mail for any reason.

3. Insurance

Do you offer any insurance for employees? This personal information needs to be accurate for insurance purposes. Having the right address and contact information will ensure that the employee will receive mail and communication if the insurance company needs to talk with the individual. Sometimes, paperwork or plan details are sent through the mail, and it can cause a disconnect in communication if the insurance company has an incorrect address or phone number for the employee.

Keeping up with employee information can be simple if you have a good system in place. At Easier Bookkeeping, we are here to help with your bookkeeping and financial tasks. We are a team of experienced bookkeepers who knows the best way to implement an effective system for your company. By hiring an outsourced bookkeeper, you can focus on the other tasks within your company because you don’t have to worry about the financial tracking: (888) 620-0770

Are You Going to Get Audited by the IRS?

The idea of an IRS audit puts fear in the hearts of most business owners. An audit can be both time consuming and stressful, causing quite an inconvenience for your company. There’s no way to know for sure if you will be audited, but there are a few things that you can do to reduce the likelihood of an audit. At the same time, you can also be proactive to prepare your financial records to simplify the auditing process if it occurs.

Type of Business and Tax Return

Audits vary depending on the industry and the way the tax return is filed. Even though the IRS doesn’t share details about the way they choose companies to audit, there are a few indications that help tax professionals know what to avoid.

One of the best things that you can do as a business owner is to hire an experienced financial team to help with your company. A bookkeeping service can keep track of financial records throughout the year, which is beneficial to improve the accuracy of your tax filing at the end of the year. By keeping good bookkeeping records, you will have everything that is needed in case an IRS audit happens.

Also, it is best to have an experienced accountant handle your tax return for you. Most business owners don’t keep up with tax law, and they might accidentally overlook important details by attempting a do-it-yourself tax filing. Instead of causing problems by submitting the tax filing incorrectly, it is much better to hire an experienced accountant to help.

Watch Your Deductions and Claims

One of the advantages of owning a business is that you have the opportunity to write off costs that are necessary for the company. But, the IRS knows that some small business owners try to push the line by writing off things that might not be necessary.

To avoid an audit, you need to be selective about the expenses that you choose to deduct. Also, it is essential that you keep detailed records of every transaction so that you can back up the claims if questions are asked in the future. Keep these records on file for a while, in case an audit comes up several years down the road.

Here at Easier Bookkeeping, our team is available to help with all of your bookkeeping and financial needs. We want to make it easy for you to manage the financials of your company so that you can focus on other aspects of business ownership. Call us today for details about the services that are offered: (888) 620-0770

5 Most Important Factors for a Good Small Business Bookkeeping System

Many business owners groan when they talk about small business bookkeeping. Are you one of those people that think about bookkeeping as a necessary evil? Putting the right bookkeeping system in place will make a big difference to simplify your process and decrease your stress.

These are five things that need to be implemented to improve your bookkeeping system:

Billing Follow-Up

Invoices can slip through the cracks, resulting in a situation where you don’t get paid for work that was completed. Track your billing and invoices, and have a set schedule in place to follow up with clients who haven’t paid. You might consider sending a second invoice or taking some time to make a phone call to ask for payment.

Manage Cash Flow

If money is coming in, do you quickly spend it all? Bills and payments can be seasonal at times, making it harder to stay up with payments during certain times of the year. Avoid cash flow problems by setting aside some cash in a separate account. This money can be used as an “emergency fund” to pay for unexpected expenses when they pop up.

Organized Filing System

Make sure that everything has a place so that costs and expenses aren’t overlooked when it comes time to file your taxes. The right organizational system will make it easier to track costs, helping you to leverage tax benefits as much as possible.

Checks and Balances

Don’t rely only on your bank statements for information! Keeping a record of transactions, such as business deposits, is a good way to have checkpoints in place. Document the deposits to be sure that you are accurately tracking income.

Be Prepared in Advance

Procrastination can cause many problems, especially if you wait until tax time before you prepare your financial details. Keep up with the bookkeeping system throughout the year, which will help by making tax time easier than ever. Also, make sure that you prepare for tax payments by setting aside the money in a separate account.

Talk with a Professional Bookkeeping Service

Are you ready to improve your bookkeeping system and reduce your stress? Then right now is a great time to talk with an experienced bookkeeping team. At Easier Bookkeeping, we offer all types of small business bookkeeping services. Together, we will plan the services that best meet your needs so that you can be prepared for the future growth of your company: (888) 620-0770