Balanced Books by Joe gives us the inside scoop on bookkeeping tips, myths, and 3 top reasons why all businesses need book keeper. Check out our conversation to learn more.
- Hello! Please tell us about your company?
I am a bookkeeping business with the only bookkeeper on staff being myself. We have been around for 13 years servicing small mom and pop companies to million dollar corporations. My two areas of expertise are Restaurants and any kind of Construction Company. I have just expanded my knowledge into manufacturing as well.
- If you had to describe what bookkeeping is in one sentence, what would you say?
It’s the skill and ability to put things in the correct categories so you don’t have the headaches or worries of doing it wrong.
- Three main reasons why small businesses and startups need a good bookkeeper?
Because when you first start up or you are a small business you have better things to be doing with your time like acquiring new clients and performing the tasks of what your business is. When the end of the month comes you want to be able to know how you are doing financially and is the profit worth the time and effort.
- When it comes to small business bookkeeping, what are some legalities that every business owner should know?
The IRS and DRS do not care that you are a small business and bookkeeping is not your thing. You are still on the hook for all the taxes.
- One major myth about small business bookkeeping that needs to be shattered?
The software makes it so easy I can do it myself.
- Any parting expert tips for startups?
Don’t wait until the end of the year or until you get one of those dreaded letters in the mail saying you owe us way more money than you ever thought possible before hiring a bookkeeping professional. I would never try to rewire my house because I don’t know the first thing about it. Don’t be ashamed to not know bookkeeping.