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Wise Choices for Business
Keeping it Straight
5 Reasons Outsourcing Your Bookkeeping
Can be a Smart Business Solution
By Becky Paulk | Simplify Professional Services, Rogers
I think about small business as a analysis
three-legged stool, with each leg having you can use to find innovative ways to
its own function: drive sales and improve profitability.
• Marketing brings customers in
3. Lose the infamous ‘box of
the door
receipts’. Do your receipts, invoices,
• Production builds client rela-
and bank statements pile up? If you
tionships, and maintains and
don’t have time to maintain it, you can’t
improves products and services
analyze income and expenditures effec-
• Accounting gathers and inter-
tively. That information is more valuable
prets financial information from
to you right now than sitting in a box
all aspects of the business
waiting for tax season. Partner with a
With out any one of the legs, the stool bookkeeping professional all year and
falls over. The Small Business Asso- you gain insight and understanding that
ciation claims 50% of businesses fail can help your business thrive.
in the first five years, with poor record
4. Manage cash flow. Cash flow
keeping and financial controls cited as
is one of the biggest challenges small
top reasons why. Here are five ways
businesses face. Will you have enough
outsourcing your accounting function
income to cover bills, stock inventory,
can strengthen your business and better
pay employees, take advantage of mar-
your bottom line.
keting opportunities, and pay yourself a
1. Save time and money. If you draw? Understanding the movement of
spend as few as 10 hours a month at an cash in and out is critical to its survival.
average of $50/hour on your account-
5. Develop future strategies. Your
ing, you spend $500 of your valuable
dream of expanding products and ser-
time on a non-revenue generating task.
vices is closely tied to your accounting.
If you took that time to spend with po-
An accounting partner can help budget
tential customers, what would be the im-
those strategies into your financials, and
pact to your sales or customer loyalty?
give you back your time to develop new
To maintain a competitive advantage
business and revenue streams.
you are probably constantly looking for
ways to improve products and services.
Becky Paulk is a certified professional
Free up time to get it done.
bookkeeper and owner of Simplify Pro-
2. Monitor the health of your busi- fessional Services. Corporate trained
ness. If you consider bookkeeping a and qualified, she is dedicated to small
difficult chore, here’s your chance to business enterprise and the personal-
get peace of mind knowing your record ized assistance they often require.
keeping and financial controls are re- Email questions to Becky at becky@
ally being taken care of. You will have simplifyprofessionalsevices.com or call
access to valuable information and (479) 619-8872.
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