Let’s assume that you are 6 months behind with QuickBooks. What do you do? You have two options: #1 Catch up on the legacy work, or #2 focus on getting things right from today going forward and catch up on legacy work later. Surprisingly enough, catching up right away might not always be the best option.
Bookkeepers & Accountants: Where to Draw the Line between the Two.
Bookkeepers and accountants are not interchangeable. There are tasks that clearly belong to your bookkeeper and others that belong to your CPA. In many people’s mind, the demarcation line is blurry and this is because, historically, both professions have had incentives to blur that line in order to grab billable hours away from each other. The reality is a lot simpler and cleaner.
Merchant Services – Looking Beyond Transaction Cost
You’ve decided to allow your clients to pay you by credit card, and you need to find yourself a merchant services provider. Is there an easy way to go about it? Not really, but there might still be a shortcut. Merchant service providers have mastered the art of making it excruciatingly difficult to compare one offer to another. However, if you take bookkeeping costs and convenience into consideration, Intuit’s Merchant Services might pull away from the pack. Let’s look at the options.
Saving Bookkeeping Cost – Tip #3: Receipts Not Needed
It’s the beginning of the month. Time for your bookkeeper to tackle the reconciliation of you bank accounts and credit card accounts. Should you give her the traditional envelope stuffed with receipts? Not necessarily. It’s tempting because it sounds like your bookkeeper will need these receipts eventually, but in most cases, this will create extra cost. There is an alternative to this approach.
Saving bookkeeping costs. Tip #2: Identify your proper level of involvement
By Patrick Bonnaure, ProLedge founder. If you want to outsource your bookkeeping function, don’t fall into the temptation of delegating the whole thing to your bookkeeper and turn it into a black box. That’s the best way to let bookkeeping services costs creep up. It has nothing to do with your bookkeeper taking advantage of you. It’s just that bookkeeping services can’t be performed efficiently without some form of proactive involvement form the business owner. Small business owners decide to outsource their bookkeeping for many different reasons ranging from “I’m too busy to manage the books” to “I need QuickBooks [...]
Saving bookkeeping costs. Tip #1: Avoid Stop-and-Go
By Patrick Bonnaure, ProLedge founder. The responsibility of being efficient with bookkeeping doesn’t always fall 100% on the shoulders of your bookkeeper. The way you manage your bookkeeper has a lot to do with it as well. If you outsource your bookkeeping services to an independent bookkeeper or to a bookkeeping firm like ProLedge, there are a few tricks to know to get the best out of your bookkeeper. In this post, I’ll focus on the #1 recommendation that we give to all our clients: avoid Stop-and-Go. It will save you a lot of money. Each time that you ask [...]