Are You Missing Out on New Business Profits – or Even Losing Money – Because You’re Ignoring These Signs in Your Bookkeeping?
When running your business, you can often be so busy that a lot can get pushed to the side. Including bookkeeping. It’s understandable, but, while there are some things you can put off or not worry too much about, bookkeeping isn’t one of them.
Here’s some sure signs that your business need a bookkeeper. Now.
1. Your Accountant Has Filed for an Extension Every Year
There’s reasons accountants have to do this sometimes. It happens.
It IS a problem, however, if they do this year after year because your books – if you even have some version of them –, along with your other financial records, are incomplete, unordered and/or require some form of translation. That’s a Red Flag.
Handing over books that are confusing or incomplete can not only delay your tax filing, it can also cause errors that cost you money, including potential fines and interest.
It’s not always the accountant’s fault, it’s just what they had to work with wasn’t laid out the right way. Professional Bookkeeping makes that problem go away.
2. You Don’t Know Where Your Main Profits & Income are Coming From
Many have heard of the famous principle in business known as the 80/20 Rule. It applies in a lot of different ways. One of the biggest is that 80% of your profits comes from 20% of your customers. That’s absolutely true.
So – Do you know who your 20% are?
If you don’t, you can’t start targeting those customers, or the kinds of customers, which are your fastest road to growing your business. Bookkeeping can zero in on those prime profit opportunities for you.
A good bookkeeper with financial analysis skills, once your books are in order, can tell you who that 20% is, giving you a clear direction forward.
It’s the kind of information you’d give anything to know. Now you can.
3. You Don’t Know Where You Are Losing Money
There are countless businesses in Hawaii who are draining their time and profits by pursuing customers and markets that produce little return.
These pursuits are even costing these businesses money; And they don’t even know it. How do you stop this from happening to you?
Just as a knowledgeable bookkeeper can pinpoint your best customers, they can also identify your worst. It’s all there in your books. If they’re in order.
We’ve helped numerous businesses this way, by cutting their losses and focusing where their time and effort is most profitable, sometimes turning failing small businesses around.
It’s not just about making money. Bookkeeping is about finding where you are losing it, too, and what you can do about it. We’ll show you.
Do You See These Signs in Your Business?
These are just 3 of the signs your business needs a bookkeeper to not only get your books in order, but keep them that way.
Contact us today if you found yourself agreeing with not only the signs, but the solutions bookkeepers like ours can bring you and your business. We’ve done it before for businesses inside Hawaii and outside as well. We can do it for you, too.
