A new credit card technology is coming to the U.S. Credit cards will be updated to EMV chip-enabled cards to reduce credit fraud. EMV strands for Europay, MasterCard and Visa. The great news is that these cards will have new capabilities and stronger security. Special readers will be needed to use the chips, however, you will still be able to use the old magnetic strip readers. The bad news, starting October 1, 2015, merchants who accept the credit cards could be liable for fraudulent charges. Learn how to protect yourself through VISA and Mastercard, for more information click here.
We were featured on Rescue A CEO, here's a snippet:
"9) Outsource, Outsource, Outsource
If your billing rate is higher per hour when you work, you should outsource busy tasks you aren’t being paid for. For example, say you can bill out $100 per hour, but you’re spending 2 hours per day on accounting, hire a bookkeeper to help you stay up to date. If you pay them $45 per hour, you’re still earning $65 more dollars than if you were doing those tasks yourself. Getting help will help you save you time, allows you to earn more money and allows you to focus on what you’re in business for.”
Read the full article HERE.
If you’re like most entrepreneurs you’re busy! You need to provide your service / sell products, run the business back end, scheduling, and so much more. No wonder, it’s hard to keep up with accounting tasks, such as tracking your income and expenses.
Hiring an employee may not even be realistic, as you may only need accounting / bookkeeping services a few hours a month. And let’s face it, most employees are looking for full & part-time gigs. Then there’s another scenario, you might need full-time help, but realize the costs of having employees is almost a burden. The great news is we can help in either case.
Here are 10 reasons why you should outsource your bookkeeping:
1. Save money on overhead costs. Having a staff is expensive! You have overhead costs like office space, supplies, computer and software expenses. A respectable firm or bookkeeper should have all the equipment, software and tools to get the job done, thus saving you money!
2. Reduce cost associated with having employees. Having employees is expensive, there are payroll taxes, benefits, health insurance and staying compliant with the ever-changing laws. By outsourcing to a reputable firm you can rest assured you won’t need to worry about these additional costs.
3. A bookkeeping firm has the staff to step in when your accounting staff is out. What happens when your accounting staff is sick, or on maternity leave? With outsourced bookkeeping your firm should be able to pick up your accounting work at any given moment.
4. Save time! Let’s be realistic, you need to focus on what you’re an expert at. If accounting isn’t your forte, you’re probably either going to neglect it or spend precious hours trying to figure out how to do your bookkeeping – and that is not what you started your business for! Hiring a bookkeeper, helps to ensure your accounting is in order so you can save time and focus on what you love!
5. High quality and knowledge of your bookkeeper. Plainly stated, reduce mistakes and be efficient! For example, we have over 25+ years of bookkeeping experience. That means you don’t have to worry about your books being wrong.
6. Improve cash flow. By hiring a knowledgeable bookkeeper you’ll be aware of what you’re spending at any given time and will be able to make the necessary adjustment and decisions to efficiently run your business.
7. Budgeting and projections. A solid bookkeeper should be able to help you forecast for a successful future.
8. Get paid on time! No more need to chase customers for payments, a great bookkeeper will take that task off your “to-do” list. Not only that, but with today’s technology there are several ways to get you paid immediately. From credit card payment options to instant pay via QuickBooks.
9. Tax Ready Financials. If you’re like most you wait until tax time to deal with your business accounting. This can cause a lot of stress, and actually be more costly than if you had just kept it up every month. Your bookkeeper will be able to make sure your financials are accurate so that your CPA or EA can process you returns without any questions.
10. Pay your bills on time! Your bookkeeper should manage accounts payables and get your vendors paid on time. This will help you earn trust and good business credit.
I can come up with many more reasons why you should outsource your accounting but I think you get the point. Outsourcing can save you time, money and stress!
If you have any questions or would like more information, visit our contact page and let us help you today!
Tuesday Tip: Did you know that with the new QuickBooks Online you can bill your clients through your smart phone?
- Sign up for Quickbooks online
- Download the QuickBooks app on your phone
- Once signed up login through the app, find the client you need to send an estimate, invoice or receipt to, click the + sign, create the invoice, and email
Tada, no easier way to make sales while on the road!