Dear business owner,
I know that your time is valuable. Business people like you would rather focus your thoughts and energy in growing your business and making it more profitable.
I am both a businessman and an professional accountant for over 30 years, and I have experienced the challenges and opportunities that you face everyday. I would like to share with you some of the mistakes that I have seen and hopefully you will be able to avoid them.
In our desire to reduce costs, many of us start by doing the bookeeping and other administrative work by themselves. Yes, we save the money that otherwise would have been paid to other people. However, we disregard the fact that the additional hours we spend on recordkeeping, we lose those hours that we should have been available for building our business.
Many times, we also tried to ask our family members to keep the books, or our secretary to record transactions. It would be good if they are well trained with the accounting software that you have installed. In very many instances, though, our company have to do our client’s records all over again because of missing entries, errors in classification of transactions, or books that do not balance.
What is the cost to the business if you do not have the right numbers when you need it? How penalties and interest are going to be paid to the govenments for missed deadlines? How are we able to collect a missing invoice, or claim a missing expense?
Once in a while, you leave the record keeping aside, “until you have the time to do it”. In the meantime, the work accumulates and papers and documents get lost.
Have you ever experienced a computer crash and lost all your valuable records? We did, so we devised procedures so we can recover right away, with minimal data loss.
Many business people also overlook how new technology can enhance their work process – leading to more productivity at reasonable costs. If done correctly, technology can help you increase your business’ profits and improve your cash flow. Do you like that?
We are here to help you. We will assist you in bookkeeping and other record keeping, so you will have more time for your business. We will recommend improvements in your workflow and paper flow, to make your business more efficient and lower your overhead costs.
We are proud when our clients succeed, as you are in integral part of our success, too.
Take care of your business, and we’ll take care of your books.
Have a great day!
Robert Cross, CPA MBA
Founder – bookkeep.ca