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It’s a key element in the foundation of every successful business. Put another way, it’s a key piece of the puzzle that makes up your business.

It gives you a snapshot of how things are going on any given day. It indicates whether or not you have sufficient cash flow; it indicates how close you are to staying on budget; it lets you know whether or not you’ll end the year in the black, and if not, how far into the red you will be. It helps you plan purchases large and small; it helps you decide whether and when to take your business to the next level, whether that means taking on more employees, moving into a larger space, purchasing more equipment, and so much more.

Taking care of your business’ bookkeeping requirements is something most people either love or hate. There’s very little in between. People with an affinity for numbers and a desire to keep things super organized (you know who you are) most likely wouldn’t choose to enlist the services of a bookkeeper, unless you needed to devote most of your time and energy to the more business-focused facets of your business. And when you think about it, isn’t that most entrepreneurs and small business owners? In the case of someone who truly enjoys the numbers game, the virtual bookkeeper becomes an occasional add-on to the organization, checking in maybe as little as once a month, or even once a quarter, to be sure things are on track and entered correctly.

Those without that affinity and desire (you know who you are too) will be doing yourselves a huge favor when you decide to hire a virtual* bookkeeper. The burden of worry about finances is lifted when you take on someone you can trust to ensure your business is on the right track and that you’re doing everything possible to maximize potential income. In that case the bookkeeper becomes a much more involved virtual partner who ensures that all bills are paid, all products and services are invoiced in a timely manner, all taxes are filed, all fees are paid. The bookkeeper also ensures that there is no mad scramble for receipts and other financial information at tax time and the close of the fiscal year.

There are other pieces of the bookkeeping puzzle as well. If and when you need to borrow money, your potential lenders will be looking for solid bookkeeping records in order to analyze whether or not your business is a good risk for a loan. Accurate bookkeeping also provides the data needed to track customer accounts regarding who owes you money, who is consistently delinquent, etc. Over time, nonpayment by customers can hamper your ability to stay in business.

Having solid financial records to depend on also allows you to keep a close eye on your prices and costs: are you charging enough for your products or services? Are you paying a fair price for your supplies and equipment? Are you budgeting enough to pay your taxes and other fixed costs? Good record keeping reduces the chance of an audit, and helps to ensure that you’re prepared if you find yourself in the middle of one.

The bottom line is that a talented and dependable bookkeeper should help you increase your cash flow and create a more comfortable financial position for your company.

MCBS bookkeepers use the latest QuickBooks software and will help you set up and/or maintain your books to ensure that you realize maximum benefit and knowledge of your financial situation. From inception to implementation to maintenance, our talented team will help you solve this all-important piece of your business puzzle. We will work with you to whatever degree you need, from a one-time set-up to ongoing, regularly scheduled tasks. Email or call us to discuss how we can help you bring your business to the next level.

Fees for services are based on the level of involvement required. We can do a one-time initial set-up; take care of monthly bill-paying and invoicing; perform regular general ledger input or spend time quarterly, semi-annually or annually to help prepare for tax time. We’ll handle as much or as little as you like, leaving you to focus on the areas of your business that you love most.

*Remember, hiring a virtual bookkeeper rather than an employee saves you money on payroll taxes, office space, vacation time and all of the other costs associated with an additional employee.

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