Category: Bookkeeping

The Benefits Of Hiring A Bookkeeper

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bookkeeping services minneapolisThere is a myriad of benefits to hiring a bookkeeper including the following:

1. Reducing And Catching Costly Errors

A good bookkeeper will be able to help reduce and catch potentially expensive errors. Whether it be a data entry mistake to losing a transaction there are many ways that these errors can be caught. The bookkeeper is the first line of defense in ensuring that the records are kept in order and that the errors will be spotted before they trigger a costly error.

2. Reducing Late Fees

Paying bills on time is a great way to reduce late fees. Invoicing and keeping the books in order are all responsibilities of the bookkeeper and when the bookkeeper sends the invoicing out on time the bills are far more likely to be paid on time. This can save a lot on late fees.

3. Reducing Accounts Receivable Turnover

When invoicing is done effectively, it can help to set the books in order and show that the bookkeeper is on top of things. Whether the invoicing is done manually or automated, it is going to help cut back on late fees and reduce the invoicing cycle and ensure that the business is paid in a timely fashion.

4. Eliminating Time Spent

When you hire someone to take care of the bookkeeping, regardless of whether or not it’s full time or part time, you won’t have to spend your time doing the bookkeeping which will help to free you up to do other tasks that you’re far more able to accomplish.

5. Understanding The Numbers

Once you have a good understanding of the numbers flowing into and out of your business, you’re going to be able to determine the important next steps that you’re going to need to take in your business. This will go far in helping you to understand your business better. Your bookkeeper is the first line of defense in helping you to understand how things are flowing into and out of your business.

The cost-benefit analysis of hiring an outside bookkeeper will be dependent on the particular business you’re running and the particular situation. Make sure to leave a bit of wiggle room to ensure that you are running accurate figures at all times.

Finally, you’ll be able to determine whether or not this approach will work well for you. However, you’ll find that the extra peace of mind will save you a lot of time and money in the long run. As the business owner, you can make the final determination to bring on a bookkeeper and save yourself a ton of money.

Do You Need to Outsource Your Bookkeeping Work?

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bookkeeping services minneapolisBookkeeping and accounting can be stressful and time consuming, especially if you are not confident in your record keeping or your knowledge of the law. If you make mistakes, then you could end up being faced with fines, and an unsympathetic tax man telling you off.

We are here to help you with your bookkeeping. We have many years of expertise in handling books and accounts for businesses of all sizes. Whether you are a sole trader or a company with a couple of employees, or in a partnership with a family member, we can help you to make sure that your books are prepared in a consistent and sensible fashion and that they are accurate ready for you to file your accounts.

Outsourcing your bookkeeping can save you a lot of time and stress. As a business owner you will have things that you want to be working on, whether that is customer service, research and development, or the other day to day aspects of running your business, you do not want to have to worry too much about administrative tasks, and have them detract from the things that you do best. Your time is worth a lot of money, and your business will be in a better position to grow if you outsource the things that are outside of your area of expertise.

We can help you to get your bookkeeping done more quickly, and give you tips to reduce that part of your admin burden. We have an understanding of the best ways to keep records, and the things that need recorded for your type of business.

Records that Show the Whole Picture

Accurate record keeping is the lifeblood of every business. You need good financial records not just for the tax man but also so that you know whether your business is in good health or not. Systematic bookkeeping will flag up potential issues with cash flow and will help you to make better decisions about where your business is going. Can you afford that bigger office? Is it time to diversify your stock? Can you make that part time employee full time now? Should you be investing more heavily in marketing? These are the kind of questions that you can answer once you have quality records to look back on.

Don’t struggle along with bookkeeping by yourself. Call us today to learn more about our services and how we can help you..

How Our Consultation Can Help You

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Quickbooks Training in MinnesotaWhen you are trying to get all of your work done for your business you may find one of the biggest challenges is keeping all of your accounts straight. This is when you should know more about how our consultation can help you out in figuring out what you should be doing and how you should be doing it. Then you will have an easier time in managing your books than what you imagined, but also know the books will be done right and know that when it comes time for you to complete your taxes you are going to know exactly what figure to put in where.

The first thing that you will notice is our consultation from versatilebookkeeping.com is going to allow you to know more about what kind of budget you should have in place. This will allow you to actually make money and know where you are making the money instead of losing money all the time on what you felt were popular items, but were being such a big loss leader that you were unable to make up the difference except for a few cents at a time, which does not help you stay in business for long.

The second thing you will find is our consultation will help you set up your books so you can easily glance at the books and see what is going on with your finances. Without this, you could end up spending your entire Saturday off at home with your books and try to figure out where your funds are going and coming from. With the set up that is provided you will find it is easier for you to just glance at the books and know exactly what is going on with your company and how you should be doing compared to what you are doing.

Being able to get the best bookkeeping around for your business may be expensive, but it is worth the cost. If you cannot afford the cost, then you may want to consider the consultations that we can provide for you. By knowing about this it will be easy for you to get the information you need and know exactly what your business is doing at any point in time. Then you can finally have a good idea on how you can continue to grow and support your business to the point you can hand it down to the next generation.

Hire a Bookkeeper and be Worry-Free on Your Financial Records

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bookkeeping services minneapolisEvery business, no matter the size, must deal with the financials. That can include payroll, inventory, marketing, rent, taxes, etc. For a business owner to handle this job alone can be difficult. That is why bookkeepers are so valuable. If you’re struggling with bookkeeping for your company, hire a professional and be worry-free.

What is a Bookkeeper?

The existence of bookkeepers has been around since the 26th century BC. Businesses dating back to ancient times have always needed bookkeepers. This is a person who handles your day-to-day financial matters which comprises a wide variety of content including sales, payments, purchases, and receipts. A bookkeeper must ensure that details are clear, concise and organized and they keep separate ledgers for suppliers, customers, etc. They typically keep records with the help of bookkeeping software, such as QuickBooks.

How Much Education Should a Bookkeeper Have?

A bookkeeper is not required to have a college degree. However, it is generally agreed that the best bookkeepers have at least an associate’s degree in Accounting from a two-year college. The best bookkeepers are also familiar with bookkeeping software.

What Should You Look for in a Bookkeeper?

In addition to the minimum level of education recommended, look for someone who has at least one or two years of experience working for a company. Ensure that the person you choose to hire is reliable, which is easier to determine when you hire someone with experience, and you have references to review that the candidate has provided. The candidate should be well-aware of major bookkeeping software, as most bookkeepers utilize software as a more accessible and more accurate way to keep financial records. Make sure the person is up-to-date with the latest tax and business regulations and that they make it a habit of staying informed. Finally, ensure that the person you are hiring understands your business and how your business operates. The bookkeeper you hire will hold a pivotal role in your company, and it’s essential that they know how your organization works.

Keep in mind that a bookkeeper is not an accountant. They do not have a CPA and cannot do things like audit your records. While you can often leave your documents in the hands of a qualified accountant with the assurance that everything will be handled professionally and correctly, it’s always advised to oversee a bookkeeper to ensure that your financial records are recorded properly and on-time.

Give Yourself A Break – Let The Experts Care For Your Bookkeeping Needs!

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bookkeeping services minneapolisDo you love to do your bookkeeping? Do you anticipate the task with happy and excited baited breath? Is it your favorite activity of the year? If you answered ‘yes’ to all of these questions you can stop reading right now!

However, we know that for pretty much everyone else, bookkeeping is one of those dreaded tasks that you hate to do. You put it off, try not to think about it and wonder why it keeps invading your thoughts.

Whilst we understand that this is most peoples’ opinion of bookkeeping, we sure don’t share it! To us, bookkeeping is what we eat, breath and sleep. We know it makes us strange, but for you and your business, it can make us your new best friends.

Not only do we have a passion for bookkeeping, we also have the knowledge, expertise, and skills to handle it in an efficient, timely and professional way. Can you really say the same for how you handle your bookkeeping needs? We didn’t think so!

So if you decide to give yourself a break and allow us to care for your bookkeeping needs, what benefits can you enjoy?

You Have More Time To Do The Things You Do Best

Your business is not a bookkeeping one, right? That means that there is something that you know how to do very well. However, if you have to devote a lot of time and effort into your bookkeeping, in effect, you are stealing time away from what you do best.

By allowing us to care for your bookkeeping needs for you, all you need to do is devote your time and energy into growing your business.

You’ll Sleep Better At Night

Even if you do attempt to do your bookkeeping yourself, it can lead to another problem; sleepless nights. Did you complete everything correctly? Have you forgotten about any red tape or important matter? All of these worries sure can make your pillow a hard one to sleep on at night. By having us care for the bookkeeping needs you give yourself one of the softest pillows you have ever experienced.

Indeed, we know that most people view bookkeeping as a dreaded chore. However, we sure don’t fit into that category. If you want to give yourself a break its time to turn that bookkeeping duty over to the experts, and we are ready and waiting to be at your service.

What to Look For When Looking For a Bookkeeping Company in Minneapolis.

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bookkeeping services minneapolisIf you want to outsource your bookkeeping services, it is good that you look for a company that offers quality services. So, what should you to look for when looking for a bookkeeping company? Below are the factors you need to consider when looking for a bookkeeping company in Minneapolis.

Experience

One of the most important things to look at when looking for a bookkeeping company is exact market linked experience. Always remember that the longer the bookkeeping company has been in the market, then the better the services they offer.

It is also very important to look for a company that comes with dedicated experience in working for businesses like yours. For instance, if you own a small business, it may be a good idea to look for a company that is accustomed to offering services to small businesses rather than one that works with corporate associations.

Flexibility

When looking for a bookkeeping company, it is good to choose a flexible company. Such a company is usually adaptable with respect to offering services that can be designed to match your needs.

For example, some bookkeeping companies offer packages that may not work with what your business needs. Therefore, it is good to look for a company that offers flexible services tailored to your specific needs. Avoid those companies that provide off shelf packages which don’t always fit the bill.

Proactivity

Ensure that you choose a bookkeeping company dedicated to streamlining your working process so that you can have peace of mind and stop worrying about fines, deadlines, and paperwork. If you don’t have time to deal with these things, then it is a good idea to look for someone who can do it effectively. Look for a company that can work proactively and ensures that you beat deadlines.

Ease of contact

It may be a good idea to hire a bookkeeping company you can speak to or see outside office hours especially if you spend the entire day doing your job. This is why it is usually important to ask a bookkeeping company how and when they can be contacted.

If you find a company that is flexible and happy to speak to you during evenings and weekends, then it is good to consider hiring them as they will make your life much easier.

Testimonials

Most of the companies in Minneapolis will claim that they offer the best services in the market. But, the question is, do they have testimonials that can substantiate their claims? It is usually important to check that other businesses have been satisfied with the company’s services before hiring them.

What Bookeeping And Payroll Needs Does Your Business Have?

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What type of business do you run? Most business owners out there have much more responsibilities on their hands. When it comes to keeping the books, have you ever thought about reaching out for help? What about when it comes to payroll?

Bookkeeping and payroll services near Minneapolis are available to business owners everywhere. When you first start out, it can be easy to get ambitious and want to do it all. Keeping the books simply isn’t much of a problem, but a growing business has more to keep up with, including payroll. When you have payroll to take care of, that means you already have employees you hand the reins to in different ways.

That means you should think about what aspects of your business you would like to delegate to someone else. Many business owners would say payroll, but not all of them would want to cede the books. You really need a company you can trust when it comes to keeping the books. You could always have the final say, and you do have control over the books and your business finances. Still, the point is when it comes to payroll and bookkeeping services near me, the company you count on needs to be the best.

As a business owner, you don’t want to do everything. You need people, good people, that you can count on to take some of the load off of your shoulders. Taxes are something every business owner likes to avoid having to think about or deal with. Don’t you want to let someone else handle your taxes? They can be so complicated, and most people would agree.