Have Questions? We have Answers

In our line of work, we get a lot of questions on anything and everything related to owning and operating a business (and we’re happy to answer them, too)! While a lot of these questions are usually pretty easy to answer, sometimes we get a few that really make us think. Even then, we enjoy researching and finding the answers to help business owners be successful.

So, what questions do you have about your business? We would love to help you reach your dreams and goals.

In case you think your question might be too far out there, we promise it’s not. Check out some of these questions (and our answers) to get you started on finding the information you need to watch your business succeed.

“I have invoices coming out of my ears! What do I do with all of them?”

When you have a large amount of invoices to deal with, it’s easy to get overwhelmed and lose track of what needs to get done. When invoices aren’t being properly managed, your business can see some serious negative side effects, such as fraud. Following this list of tasks can help you make sure you’re keeping everything in check. Looking to an automated system, such as QuickBooks, is also a great way to keep your invoices at a manageable level.

“Where in the world did all of my cash go?”

This question is more common than you may think. While your business may be profitable, you can still be running out of cash, which might be a concern. Financial struggles can be hard, but our professionals are available to help. Check out this blog – and then, let’s talk!

“Why don’t I have enough time to do everything that needs to get done?”

We get it: owning and operating a business means you have a lot on your plate. From accounting and finance, to human resources to the day-to-day operations, you probably don’t have enough time to do it all yourself. The good news is you don’t have to! Consider your team of employees. What can you delegate to take some of the burden off your shoulders and free up some time? Another option is outsourcing. When you outsource some of your business activities, such as your accounting processes, you free up time to focus on why you got into business in the first place.

“What is this accrual accounting thing I hear so much about? Am I doing it?”

Knowing the specific ins and outs of accounting can be a confusing, daunting task. What it comes to what method of accounting you are using, the water may get even muddier. Maybe you’ve heard of cash based accounting and accrual accounting, but you really have no idea where to begin. We’ve written multiple blogs on how to tell the difference and how to select what fits your business and set up your books. Check them out!

“Taxes terrify me. Where do I even begin?”

Taxes are a complex issue, and questions regarding this topic are common. Whether you want to know more about R&D tax credits, employer vehicles and mileage, how to track your taxes or even all those pesky (yet necessary) forms, we’ve got you covered. Check out our tax archive for answers to all your most pressing questions. If you can’t find the answer, let us know.

Remember, although we numbers nerds really like our financial lingo, we promise to answer your questions in a way you will understand, not just a bunch of accountant talk. After all, we want to see your business succeed!

Is Your Accounting System Outdated?

Is Your Accounting Software Outdated (or Outgrown)? Here are a few questions to get you thinking…

Number One | has your vendor stopped (or are they planning to stop) supporting your accounting software? It may seem obvious, but we get this one a lot.

Number Two | are you using spreadsheets (or even better, green bar paper) to track financial data or compute calculations (hint, hint…commissions, inventory, etc.)?

Number Three | do you enter manual journal entries into your accounting software? Maybe those entries are from calculations you’ve compiled in spreadsheets (see #2)? Are you operating in several systems to accomplish your accounting needs (and, of course, they aren’t capable of automatically syncing the data)?

Number Four | do you spend hours of time each month closing the books? Do you need to manually create the reports needed? Or maybe it’s because you have to manually complete the consolidation process?

Number Five | do you perform work-arounds in your accounting system to get it to do what you want?

Number Six | do you have a chart of accounts that is a mile long? Or maybe you need to create a whole new set of accounts each time you add another profit or cost center (we’re talking grants, jobs, product lines, locations, etc.)?

Number Seven | do you correspond with your customers and vendor primarily through email, fax or maybe even snail mail still?

Number Eight | does your desk look like you are endangering the tree population? Do you have paper invoices or timecards to approve coming out your ears?

Number Nine | does your system allow you to access your financial information anytime, anywhere and on any mobile device?

Number Ten | do you really need another reason to contact us to see if your life can be easier with a better accounting system?

If you answered yes to even one of these questions, it’s probably time to start looking for new accounting software. Let’s face it, the transition won’t be easy, but the inefficiencies outdated systems can create sure isn’t a walk in the park.

 

Outdated accounting system