In order to keep your financials organized and your company profitable, hiring an Orlando business bookkeeping service is the way to go and here’s why.
What Does A Bookkeeper Do?
The primary function of a bookkeeper is to maintain the financial records of your company. They do this by reviewing, categorizing and reconciling the bank and credit card transactions into a company’s accounting system.
Many accounting software platforms allow a direct link with banks, credit cards and operating software systems that enable them to capture the data directly, either real-time or daily. This gives a more accurate account of the activity happening within the business.
The goal of the bookkeeper is to make sure all the data being added aligns with what was expected and is correctly allocated to the income and expense accounts. Ideally, they would act as a line of defense in catching any fraudulent activity going unnoticed or any banking discrepancies. They can also assist in paying the vendor bills so that the bills are verified and paid in a timely manner as well as invoicing clients to make sure the invoices go out timely and cash flow is not negatively impacted.
An Orlando business bookkeeping service will take this information and put it into an easy-to-read profit and loss statement for the month. This allows you, the business owner, to make sure you are staying on track financially and it gives your Orlando bookkeeping service an opportunity to offer you coaching and guidance to make informed and smart decisions.
When Do I Need An Orlando Business Bookkeeping Service?
To sustainably run successfully, businesses need some form of bookkeeping since it acts as the foundation of many decisions. However, if you find yourself struggling with any of the following, it may be time to look into a bookkeeping service:
- You spend more time organizing transactions rather than focusing on the main parts of your business;
- Have accounts receivable that you still need to collect;
- Are continually behind on sending out client invoices;
- Don’t have an organized method for keeping your bills and receipts;
- Don’t have clarity on how much you are earning or how much you are spending;
- The end-of-year has you frazzled trying to get organized for tax season.
Do any of these sound like you? An Orlando bookkeeping service is just the thing to help. It can take as little as a few hours each month for them to organize your books and establish a monthly process to stay on track. This will free up your time to focus on what really matters to you; running your business.
What Do I Look For?
Now that you’ve decided you need an Orlando business bookkeeping service, it’s time to figure out which option is right for you.
There is no one-size-fits-all in bookkeeping. The right fit for you depends on the size of your company, the activity you need to capture and the volume of activity. If you are a business and you want to keep your books up to date and correct, hiring a business bookkeeping service is the way to go.
At KEM Business Solutions, we have years of experience working with small businesses just like yours. We can help keep you stay on top of your financials, as well as give you advice on best practices to help keep your company profitable. Contact us today and let’s talk about how to keep your business running smoothly!