7 Best Bookkeeping Business Services

If you’re a small business owner considering outsourcing your bookkeeping, keep in mind that bookkeeping business services include much more than just keeping track of your finances. If you hook up with a true professional service they can become much more than an accounting service, they can become important partners helping you optimize not only your cash flow but planning your financial strategies. Here’s a short list of benefits and services you can expect from a full service bookkeeper.

1. Time

Actually this may be the most productive benefit of all the services an outsourced bookkeeper can provide. By taking over the responsibility of accounting, the bookkeeper service effectively gives you more time to do what you do best and that’s run the business. Accounting is an absolutely necessary part of a business but it is not a profit center and it plays no part in driving sales and revenue. Any time you devote to that function is time taken from engaging in an activity that can generate sales or profit.

2. Financial forecasting

Using your firm’s financial history an experienced bookkeeping service can develop financial models that will allow you to play “what if” games that can predict your financial performance in the future. For example a business owner can ask what if sales increase 8% in the next quarter or what if the marketing budget is increased by 10% what kind of sales can be expected. This is a complex model that requires the knowledge of experts and would not be readily available to the owner unless he outsourced the function.

3. Tax planning

Running your business to take advantage of opportunity to minimize tax liability can be the difference between taking a loss and making a profit. The same goes for licensing and other local fees. A knowledgeable service will not only prepare your returns but show you ways to reduce your tax bill.

4. Real time reporting

Gone are the days of receiving monthly reports from your accounting service. In today’s business environment you need to know where you are financially right now and that’s what a professional bookkeeping service can provide. Thanks to ASP technology you can log onto your account using an ultra secure server and access all of your reports at any time and from any where you have an internet connection.

5. Customized reports

Your bookkeeping service will work with you to build reports that make sense for your particular business. Profit and loss statements, sales reports, receivables reports, all can be designed so they present the information in a way that you can best evaluate your position.

6. Assistance with lenders

A sign of just how tough and competitive the economic times are is the expansion of bookkeeping business services into areas that they previously did not participate in. Assistance with loan applications or even introductions to lenders is an example of the “new” services being offered by many firms. Loan applications can be intimidating and confusing to many business owners and the accounting service can offer valuable assistance in insuring that the right, and best, financial information is included in the application.

7. QuickBooks Consulting

Even if you don’t hire a bookkeeping service and you use QuickBooks in house to do your bookkeeping, you may find that the service can help you do it better. QuickBooks has added so many features and has become so much more than an accounting platform that it has created an entirely new support industry. If a QuickBooks customer wants optimal performance from his system, it’s likely he or she will need the advice of a certified QuickBooks consultant and the bookkeeping service is a ready, qualified resource.

A combination of rapidly improving technology along with an increasingly competitive market has caused bookkeeping business services to evolve into something greater than the traditional accounting services. Smart businesses will take advantage of these services to remain competitive and optimize earnings.

Bookkeeping From Home – Start a Bookkeeping Business For Independence and Profits

Have you considered bookkeeping from home as a way to earn money and work on your own schedule? Whether you have experience or not, starting a bookkeeping business is a great way to be independent, work your own schedule and make great money.

With the economy in the worst state it has been in, more and more people are making the decision to work from home. Why? It helps save a lot of money on gas, childcare, fast food lunches, etc. Bookkeeping from home is a wonderful career, especially if you like math and putting things in order.

What do you need in order to start a bookkeeping business from home? First of all, you must be responsible, organized and motivated. You need a good business plan to outline what your expenses will be, what equipment you may need, and what type of marketing methods you will use to advertise your business.

Your first step after getting organized will be to find clientele, which may be the most difficult part of your effort to start bookkeeping from home. Once you have 2 or 3 clients, it will be much easier for you to build your business. Word of mouth is the best form of advertising!

Do you have previous experience in bookkeeping or accounting? This will be an easy home business for you to get involved in. Even if you have no experience, there are many online guides and courses that will give you all the information you need to start bookkeeping from home.

Of course, there are many other things you will need to know before you start a home business in the bookkeeping field. You will need the right software to keep your clientele list in order. You will also have to decide what your rates will be, and make sure you are competitive. These are just a few things you need to know about starting a bookkeeping business.

If you are tired of working to make someone else rich, and weary of the 9 to 5 grind, bookkeeping from home may be the answer. Find out more about how you can start your own profitable home business by visiting the links below.

Bookkeeping Business Plan – How To Develop It?

Starting a bookkeeping business is an extremely financially option. There will always be a great need for professional bookkeeping services specifically for small to medium sized companies. Developing a tight and effective business plan should be one of the first steps you take towards achieving success in your bookkeeping business. By designing this plan you are effectively laying out the strategy and goals you want to achieve within a given time.

The steps in creating a business plan for your bookkeeping business are ideally the same as for any other venture. Firstly market research is key- see what your competitors are doing right, and wrong. Research can be easily performed on the web, or you could call up your competitors feigning interest as a potential client to see what services they offer. Learn from your competitors mistakes so you don’t follow the same pitfalls, and improve on the positive aspects of their business.

Potential clients are the key to establishing any successful business; you need to know what the client wants and how to keep them happy. Further to this you need to know how to attract the client in the first place. For a new small bookkeeping business localized pay per click campaigns could be a great method of turning on-line clicks to off-line sales.

In setting up your business plan, you need to know exactly which clientèle you wish to be targeting. Would your bookkeeping business be best suited to dealing with private individuals, small companies or full on corporations? It is advisable to start small and work up to larger clients.

Many smaller scale bookkeeping businesses begin as ‘home based’ and this should be not seen as a negative in the plan. If you have devised a strong plan, growth of the business will be the key and you can plan to move into an office space when it becomes financially viable and turning a profit. It is worth considering the needs of your potential clientele, and in which location you will be best able to serve them. Further to these needs you should likely decided on the required technology to effectively manage your requirements. Again your needs will most likely develop as your business develops, so starting small is a good idea.

As was touched on earlier in this article, the internet can serve a great deal of use in developing your bookkeeping business plan. Firstly it can provide thorough research on your target market, your competitors, and the needs of your potential clientele. Further to research it will be clear to see the most effective form of internet advertising, which will be more than likely localized pay per click marketing campaigns.

The most important aspect of a successful bookkeeping business plan, is to be thorough in everything you set out to achieve. With proper research, understanding potential clientele, and knowing your competition you will have the best chance of not only developing the strongest plan, but also creating the foundation for a successful bookkeeping business.