In Pursuit of Profit

Transitioning from a Bookkeeper to an Accountant

11/23/2019

Migrating from a bookkeeper to an accountant is a major change that many business owners feel unprepared to initiate. They often ask:

When is using an accountant absolutely essential for a business?
Should a bookkeeper’s responsibilities be handed off to an accountant, or do they work best in tandem?
Does an accountant need to be hired in-house or can accounting functions be outsourced?
What do the mechanics of a successful transition plan look like and how long should it take to complete?

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Should Your Accountant Be Responsible for Bookkeeping?

11/18/2019

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Should Your Accountant Be Responsible for Bookkeeping?

Business owners looking to control expenses will often combine roles under a single job title to reduce headcount demands.

This is especially prevalent when it comes to financial positions.

Too often bookkeepers are asked to own financial tasks that they are not prepared to take on (like forecasting and tax preparation), while accountants are assigned busy work that they are overqualified for (like entering receipts and issuing checks).

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Do I Need a Bookkeeper or an Accountant?

11/10/2019

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Do I Need a Bookkeeper or an Accountant?

Many business owners wrestle with questions relating to the financial health of their companies.

They worry about cash flow shortages, hiring expenses, the expected future value of investments, increasing materials costs, and how they will manage all of these financial uncertainties and complexities.

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Signs Your Bookkeeper is Stressed (And Does It Matter?)

5/31/2019

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Signs Your Bookkeeper is Stressed (And Does It Matter?)

Nearly everyone claims that they’re stressed these days, if not in one way, then in another.

The list of stressors is virtually endless: family, co-workers, supervisors, pets, the weather, friends, politics, and their bills.

As a business owner or manager, you can easily add a host of other stressors to the list, one of which is employee productivity.

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Which is Better: A Freelance Bookkeeper or An Accounting Company?

1/14/2019

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Which is Better: A Freelance Bookkeeper or An Accounting Company?

Organizations looking to outsource their financial needs often wonder who is best qualified to handle the intricacies of their business operations.

With the multitude of options available the landscape of potential financial solutions is vast. Factor in the solutions catered specifically towards SMBs, local businesses, privately-held businesses, and businesses in designated industries and the result is an overwhelming sea of possibilities.

Within these choices are two distinctly different options – freelancers and large firms.

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Bookkeeping Apps vs. Bookkeepers: Which Offers More Value?

10/26/2017

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While we don’t have an exact date for the origin of bookkeeping, it is believed that bookkeeping was an established practice as early as 2600 B.C., with Babylonian records providing evidence that financial transactions were indeed recorded. Over the years, the practice of recording the day-to-day economic happenings of a business became commonplace. Today, owners of businesses large and small recognize the value of thorough bookkeeping.

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MY BOOKKEEPER HAS MY COMPETITION AS A CUSTOMER

8/9/2017

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Even with advanced software, the process of managing a business’s financial accounts and affairs--is just as important today as it was when bookkeepers originated. However, because bookkeepers make a living by documenting the financial records of not just one business, but many in a community or city, it is very possible that your business’s bookkeeper also works with your competition.

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My Bookkeeper is Too Expensive

6/26/2017

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My bookkeeper charges too much - can you recommend a cheaper one?

The answer is probably ‘yes’, there is always someone cheaper. On any given weekend you can spot a hand-written postcard on a notice board in the local supermarket, or an ad on Craigslist where someone is offering bookkeeping, including for what seems to be an impossible fee.

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