If you own, or are in the process of starting your own small business, you’re probably thinking about revenue, loans, profit, cashflow and many other financial issues. In the midst of your research, you’ve probably come across several accounting companies and websites telling you to hire a bookkeeper.
Your dilemma as a new business owner is whether to spend more money and keeping your staff costs as low as possible. Bookkeeping is such an important function in keeping an account of all financial activity in your company and although your wish is to save money in business, don’t overlook the financial importance of quality bookkeeping to your company’s cashflow.
What does Bookkeeping have to do with Cashflow?
While you may be tempted to think that bookkeeping is a potential waste of money, it can actually be a financial saving for your company.
A bookkeeper can create useful financial data about your company revenue, cost and spending to help you understand the financial ‘big picture’ of your company. If you’ve taken out a business loan, a bookkeeper can help you see the best way to pay it back. If you have financial goals, your bookkeeper can help you find out where you are meeting or failing to meet your goals.
Good bookkeeping services can help you understand your company’s value and financial activities in a whole new way through your operating, investing and financing activities.
Basically, bookkeeping allows you to keep tabs on your cashflow by giving you a clear, understandable report of your cashflow; daily, monthly, annually.
We Can Help
At ABJ Business Solutions, we offer a multitude of bookkeeping services for small to medium-sized businesses looking to improve their cashflow! Get in touch with us today to find out how we can help you with bookkeeping and other financial services!