Hire a Bookkeeper & Save Money!
Many people avoid looking for a bookkeeper for their business until they are a few years into their business and are either overwhelmed, in a panic usually because the government is after them over sales or payroll taxes, or they are trying to get a loan and have no financial statements.
Don’t be one of those people who wait to ask for help until it’s too late!
Here are 30 ways our bookkeepers here at Assemblage help our clients:
1. Send out customer invoices on time so you can get paid on time.
2. Never lose track of a customer invoice. Know exactly who owes you, so you can follow up.
3. Never make another sale to a customer who is not paying their bill.
4. Reduce the need to borrow due to poor cash flow.
5. Set your pricing based on profit instead of guessing.
6. Concentrate on selling the most profitable items/services instead of easy ones.
7. Don’t sell a service/product at a loss because you didn’t take markdowns on time.
8. Know what are money makers & what to drop as they are money losers.
9. Find out if you have a theft problem before it’s too late.
10. Never pay a bill twice by mistake.
11. Never lose a discount by paying a vendor late.
12. Plan your payment due dates and reduce the need to borrow.
13. Maintain your good credit rating.
14. Obtain better credit terms based on your good payment history.
15. Don’t get hit with huge late filing fees because you made your government payments late.
16. Plan accurately for taxes. Estimate tax payments and strategize a savings plan.
17. Never write a bad check by mistake. Your bookkeeper can keep you in the green.
18. Move to a paper-lite and electronic streamlined system.
19. Never pay another NSF Fee.
20. Make sure all your cash receipts are credited to your account.
21. Know when you have excess cash so you can put it to work.
22. Keep track of all expenses in detail, so you know which ones can be cut back.
23. Never overspend a budget.
24. Get the maximum possible tax deduction for the expenses of running your business.
25. Know how much profit you have made and what your business is worth each month.
26. Know when is the right time to grow. Know when is the right time to hold back.
27. Save hundreds to thousands of dollars on your year-end tax return.
28. Comply with the reporting requirement of any business loan.
29. Immediately respond to any supplier’s or customer’s requests for financial information.
30. Give yourself back hundreds of hours a year so you can focus on your passion.