A good bookkeeper will explain the balance sheet has assets, liabilities and equity. This is mandatory for anyone you expect to provide accurate financial reports. Ideally they will tell you the equation is: Assets = Liabilities + Equity. If they can’t explain the balance sheet, then ask them to describe an asset and liability account. You won’t want someone who doesn’t know the balance sheet responsible for month end close, but if someone else is ensuring accuracy, just knowing how assets and liabilities are used will be fine.
Next, you need a clear way of communicating this policy to your clients. An excellent way to do this is to incorporate this policy into your handbook that you review with your prospective client. It’s not enough to hand them your book. You should also verbally go over it with them.
Referrals. Once you have your “core” customers and have treated them well for a while, ask them for referrals. Tell them you’re still growing your business and could use a few more good customers like them. Offer a free delivery or a discount on a month’s service in return for a referral that becomes a regular, repeat customer.
Starting a bookkeeping home job is a good initiative in the current economy. As a rule, all businesses call for solid bookkeeping for them to flourish. However, not many business owners understand what bookkeeping is exactly. Once you go for this career, you are required to do more than just keep daily receipts and IRS content for your clients. You will take part in major business decision-making.
In starting or managing a home-based business, bookkeeping is one important activity you should not forget about. Accountingreimagined.Ca, when you really think about it, is very simple. There is nothing more to it than recording your daily financial activities, like the money you earned and the money you spent. It is similar to balancing a checkbook.
When things are going poorly, what people look to do is cut back on expenses… but you should ask, “Am I getting what I am paying for?” You may be better off by hiring a very expensive CPA who will do something versus someone who’s not going to do anything.
Bookkeeping with experience, but no certification means an hourly rate of approximately $5-10 above the average rate. In Canada that means approximately $35-50 an hour for a standard bookkeeping rate, the same is true in the USA.
Now that the load is off your back, you can concentrate your time and energy on generating revenue. You are not an accountant or a Accountingreimagined.Ca, so why waste time on an activity that won’t make you any profit?
Make two columns, one for income and one for expenses. Then record your income for the day on one side, and your expenses on the other. Total everything at the end of the each column. You can also put the difference of the two columns, label it profit, investment, or however you intend to save or use the money.
Now you can PREVENT this kind of theft by NOT giving your signature stamp to anyone who has access to your checks, credit cards, or any kind of personal information. Maybe that person is your office manager or receptionist. Maybe you can give it to your accountant and make your bookkeeper go to them to get your signature. Either way, by adding a second person to the mix whenever you go on vacation, thus giving the second person you’re signature stamp, you are taking steps to actively prevent embezzlement while you’re away.
The scene could have been very different without a professional Accountingreimagined.Ca and an outstanding team of accountants. The client could have prepared the returns with incomplete record keeping and the auditors would have held him liable for every mistake. Each taxing authority had the right to examine and assess based on the accuracy of the returns. The State had the right to revoke the firms articles of incorporation, but the record keeping was sound.
I read an article the other day that said 61% of small business owners work 6 days a week and 20% work 7 days a week. How much of that time is spent doing paperwork? 1 in 6 days? If you spent that day, just that 1 extra day a week focused on generating more sales that’s 52 extra days a year. How many sales calls can you do in a day 3-4 that’s between 150 and 200 extra sales calls per year how much would that effect your bottom line?
Categories – probably the most important section of your listing and should reflect what you are rather than what your business does. You can choose up to 5 categories, but the first one by default should be “Accountant”. The remaining 4 will depend on the services you provide, but could include things like “bookkeeping service” and “Payroll Service”.
A well executed local SEO campaign can work wonders for any small business accountant, whether it’s an established practice or a start-up. Getting the foundations right makes it possible to build a strong local online presence and with that can come multiple listings high up in the search rankings. Here are some basic tips to help get that solid foundation built.
