It takes money to make money, so it's important to know exactly where your money is going. Keeping track of expenses is only the beginning. How do you build the perfect report?
With a certified bookkeeper, you can find out exactly where your money is going based on whatever categories you'd like! Our team of professionals will work diligently to make sure your bookkeeping is accurate and up to date, so you know exactly where your money is going. Give us a call to find out more!
“The word 'accounting' comes from the word 'accountability'. If you're going to be rich, you need to be accountable for your money." - Robert Kiyosaki
Why does it matter? Tax season, baby! There are other reasons, too. Here are some to name a few:
- Maximum Tax Refund
- Budgeting and Growth
- Bonus Entertainment
Taxes
You know how the government asks all those pesky questions when you file your taxes? Wouldn't it be nice to have all the answers on lock-down before you needed them? Keeping your books up to date and having everything coded correctly is the key.
Once your books are in order, you'll be able to see exactly what you can write off.
Budgeting and Growth
Part of growing a business is keeping costs down. Keeping track of costs goes hand in hand with this. If you know how much you spent on office supplies last year, you'll know how much you need to spend moving forward. If you find that you are spending more money in a specific area than normal, you'll know where to cut costs in the next fiscal quarter.
A Profit & Loss Statement (aka P&L) will be your best friend when it comes to planning your next year's budget. When you have a budget in place, you'll be able to see where you can invest more money! Maybe that investment involves hiring more staff. The possibilities are limitless!
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Knowing where your money goes is the first step to significant growth.