Why Business Bookkeeping Is Important

Owning and operating a business of your own is a great accomplishment.

But keeping the lights on, both figuratively and literally, can be a bit more of a challenge than you initially may have thought. With expenses coming from all angles, credit cards and banks to keep up with, employees who need to be paid, and maintaining your accounts receivable and payable, your bookkeeping may not be as optimized as it should be. Or as it could be.

The advantages of professional business bookkeeping are far-reaching. First of all, you get a trained professional whose job it is to balance the books and deal with numbers every single day.

Think about it this way: if your plumbing is on the fritz, you call a plumber. If your car breaks down on the way to work, you call a mechanic. If your office building’s AC goes out, you call an HVAC company. If you need help with your bookkeeping, you call a CPA. These are the top experts in the world, so why wouldn’t you want them handling this aspect of your business?

However, there are many more ways in which you can benefit from bookkeeping. Not only will you optimize your finances, you will also make things easier when the time comes to file taxes.

Keep reading to learn more about the importance of business bookkeeping and contact the experts in Fort Collins at O’Dell & Company today.

Get Caught Up

As a business owner, you have plenty of things on your plate. From running day-to-day business operations to marketing to hiring new employees, your bookkeeping can sometimes get lost by the wayside.

With professional business bookkeeping, a CPA firm will look after this aspect of your business for you so that you can focus your attention elsewhere. Business bookkeeping from a professional can help you manage and organize your business expenses, account for sales and deposits throughout the year, reconcile bank accounts and credit cards, organize year-end financial statements.

Prepare For Tax Season

One of the top reasons that bookkeeping is so important for your business is that it helps you save time, possibly money, and certainly frustration when the time comes to file your business taxes.

Books that are in disarray could hurt when searching for tax deductions and ways to save money. Furthermore, having all of your statements and financial information in one place will make the tax filing process much more streamlined. A CPA firm can help you with all of this.

Avoid An Audit

Businesses are sometimes at risk for being audited. The only way to prove that the information you reported is accurate, is to prove it by providing clean, organized books for the government agencies to review.

Business bookkeeping help can ensure that all of your ducks in a row and completely eliminate the stress and worry of an audit.

Evaluate Business

Having established books and records which span over the entire course of your business history can help you get a proper grasp of your company’s financial health.

Monitoring your accounts payable and, perhaps more importantly, your accounts receivable can help you fully understand how much money your business is actually making, or if you need to shift your budget in order to run things more efficiently.

Business Bookkeeping In Fort Collins

When it comes to business bookkeeping help, there’s only one name who can provide transparency, efficiency, and results: O’Dell & Company.

Our team of certified public accountants have the knowledge and resources needed to help you organize the books so that you can focus on what you know best. With cloud-based virtual bookkeeping software, expert advice, clean-up and start-up bookkeeping help, and a whole lot more, O’Dell & Company is your trusted CPA firm for business bookkeeping in Fort Collins.

As a QuickBooks certified team, you can rest assured that all of your accounts are managed in one simple, easy-to-navigate portal. Whether you are looking for help with your payroll, income statements, balance sheets, year-end financial statements, sales tax reporting, or general ledger maintenance, our team has the tools you need.

Not located in Fort Collins? Don’t worry. We have helped more than 1,000 clients and small businesses from all over the country with their tax planning and business bookkeeping. Call O’Dell & Company today to find out how we can help you.

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