At first glance, bookkeeping for your business may not seem like an integral part of your overall financial strategy. After all, in theory, accounting is a relatively straightforward process. For every transaction, a responsible business adds a line item to their books, distinguishing between additions and subtractions. What could be simpler?
However, if you’re approaching your business’ bookkeeping with the above philosophy, you’re doing a grave disservice to yourself, your company and your employees. In fact, improving bookkeeping for your business in Jamestown, ND can have an immensely positive impact on your bottom line. Here’s how to make it happen.
If you are still recording your accounts payable and accounts receivable on paper, you are way behind the times. Electronic accounting services should be your baseline approach to keeping the books. A cloud-based solution to your financial records is also a great way to keep several copies of your finances and make sure your accountant and bookkeeper always have up-to-date records.
Put it in the hands of a pro
When you’re working on improving bookkeeping for a business in Jamestown, ND, make sure you have your numbers collected and inspected by a trained professional. So much more goes into balancing the books than just simple math. Even when your books are recorded electronically (on a program that theoretically does the math for you), making sure your books are in order means more than just accurate data entry.
A financial professional can also observe broader trends in your accounts and offer insight accordingly.
Keep your eyes on the numbers
So, you’ve upgraded to cloud-based accounting software, and you’re having a professional observe the numbers—that doesn’t mean you can go on autopilot. It’s vital that you’re taking an in-depth look at your accounts once every fiscal quarter to make sure your company is headed in a productive direction.
Watch your employees’ hours
One of the easiest metrics to lose track of—even if you’re paying active attention to your numbers—is your employees’ hours. It’s very easy for employee paychecks to creep upward if you’re working in an unsupervised environment. That goes double for hourly employees. It’s essential to ensure that your employees are making productive use of their work hours as opposed to just racking up time on the clock.
Enlist help from a team you can trust
Easily the most reliable move you can make in improving bookkeeping for your business in Jamestown, ND is to partner with Craig S. Hanson, CPA. In addition to our comprehensive commercial bookkeeping services, we also offer tax prep for commercial, industrial and agricultural institutions as well as private citizens.
Over the course of our 34 years on the job, the team at Craig S. Hanson, CPA has built a reputation for impeccable accounting services, every single time. All year long, you can count on us for financial expertise and a personal touch that you simply will not find anywhere else. Visit us online or give us a call today for more tips to improve your business finances in Jamestown, ND!