Many business owners take on the role of bookkeeper during the start-up phase to save money, however as the company grows, accounting and bookkeeping can often become the lowest priority. Recognizing the importance of accounting and bookkeeping for both day-to-day decision making and long term planning can result in more efficient operations overall. The foundation of accurate financial statements are timely and accurate bookkeeping services.
Advantages to maintaining current accounting records:
Better measurement of spending, allowing for better cash management
Real time access to account balances including credit cards, credit lines, and bank accounts
Clear, concise transaction detail for financial statement preparation
Reduced time required for tax preparation