Bookkeeping is one of the essential tasks that all businesses need to invest time and money in - but some small business owners don't even know where to start.
They either leave the job half-finished, or do it themselves half-heartedly - and lose themselves a good amount of money in the process. That's why many small business owners employ professional bookkeepers - but many don't know where to start there, either!
First off, here's what you should be looking for in a strong bookkeeper.
You're going to want a person or firm that is available to you every day of the week. You want someone who's going to be presenting you with detailed reports of your finances on a regular basis.
Most of all, you're going to want someone who'll stand beside you when it comes time to pay your taxes - and who will defend your documents should you be compelled to submit to an audit.
At the end of the day, this is the most valuable trait you can find in a bookkeeper: accountability.
You want someone on your team who'll be able to handle their assigned facet of your business, and will never trip up in the process of doing so. That's why the help of lauded, proven accounting and bookkeeping firms, like FBC, is one of the most valuable assets any business can obtain.
What Strong Bookkeeping Adds To Your Business
So what does a strong bookkeeping presence add to your business? More than anything else, it adds protection.
When you know there's a trained professional keeping an eye on every financial document coming in and out of you organization, that helps you to sleep well knowing that nothing is slipping through the cracks.
It helps you to confirm that no document, file or proof of a particular expense is going to be lost. It helps you to trust that, should the CRA ever decide you need to be put through an audit, you'll come out on top.
In fact, some bookkeeping firms - like FBC, for one example - go so far as to guarantee that they will successfully defend you throughout the process and provide audit representation should your business ever end up on the wrong side of the CRA.
So it's time to familiarize yourself with what good bookkeeping really is - and what it can accomplish for your business.