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Is Your Bookkeeping Really Free

02 Mar Is your FREE Bookkeeping Really Free?

Posted at 16:04h in Accounting, Bookkeeping, Business Process by
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It has become common place for small business owners to do their own bookkeeping, accounting, and tax preparation. Many small business use their spouse or another family member to manage the books, not because they are knowledgeable or skilled at this, but because they are free. Or are they? If you add up the potential for missed business deductions, late or missing tax filing penalties, miss-classification of business related expenses, past due accounts and invoice errors, along with the additional hours you are paying your CPA, this decision could be costing you thousands of dollars and put you at risk of an IRS audit.

This time of year your CPA is usually the person that feels the burden of this decision and, therefore, passes the cost on to you by adding additional billable hours to your tax preparation invoice. This isn’t done with malice, but out of necessity. A high quality CPA will focus on finding and retaining customers that have clean books as opposed to those who come in with a mess. This allows them to do what they do best, save you money on your taxes.

Maintaining accurate financials on a consistent basis will provide you with vital information that will allow you to make good business decisions: the cleanest and clearest possible picture of your company’s financial health. Even if you are doing your own bookkeeping and providing your CPA with what they need each year, you are taking away something that is priceless from your business….. your time! You are a specialist in your field, your time is better spent doing what only you can do: building your business.

So take advantage of something that is truly free…. our free New Client Consultation. You can even book it for when it fits with your own schedule using our online booking service.

 

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Linda Porreca
linda@presagefinancial.com


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