Whether you are a new or established small business, it is highly important to keep expenses to a minimum. Profits will happen eventually but often not within the first few months of opening.  

 

Some business owners will try to cut costs by not hiring a bookkeeper. Instead they will get admin staff to manage their financial records. Although expenses are reduced in the short term this could be a mistake.

 

Off-the-shelf accounting software may be easy to buy but it isn’t necessarily easy to use – properly.

 

By hiring A2B Bookkeeping Services you will avoid some mistakes listed below.

 

1. Invoicing Incorrectly

 

Incorrect invoicing may entail a lot of extra time reconciling your products sold or services rendered, thus resulting in inability to collect from your customers on time. Also, if not done on time, invoicing can strain your cash flow.

A2B Bookkeeping Services will ensure that invoices are correct and prepared in a timely manner. They can also monitor “aging of accounts” to make sure that receivables are collected from customers on time.

 

2. Unknowingly Missing Deadlines

 

There are specific dates for filing your taxes and other requirements to the government. Missing a date, no matter how unintentional, can cost you penalties and other charges.

With A2B Bookkeeping Services, the only thing that you have to worry about is getting all the pertinent information to them on time. They’ll take care of the rest.

 

3. Incorrectly Classifying Items for Taxation Purposes

Tax laws are revised and updated periodically. What is classified as an item under a particular tax bracket or rule may change.

A2B Bookkeeping Services are always abreast with the latest tax rules. They also have a clear understanding of items that may be tax deductible for your business. Trust A2B Bookkeeping Services and take advantage of their knowledge. 

In the long run you will save money and headaches.

 

4. Lack of Know-How in Using Accounting Software

Inaccuracies in handling the accounting side of the business can potentially lead to more losses than you think – Not to mention government penalties.

It sounds obvious, but accounting software works best if the correct data is inputted. What you put into the system, is proportionate to the output.

A2B Bookkeeping Services understands this perfectly. The advantage for you as a client is that you don’t have to worry at the end of your fiscal year.

Ensuring proper handling of your  company’s bookkeeping needs is paramount to your business success.