What's the
purpose of an effective Orinda accounting and bookkeeping system?
If you lack a properly implemented accounting and bookkeeping system, you'll
experience much more stress and difficulty monitoring daily business
operations, profitability, revenue and expenses. These key areas are what
you'll need to closely manage, if your business is to survive and grow. It's an
established understanding among experienced business owners that the success or
failure of business decisions is summarized in the accounting numbers. For
example, the performance of your business over a period of time is reflected by
your profit and loss statement. That's a clear example of your business'
prosperity resulting from accurate and timely reporting. Please remember,
though, that these reports must be timely, accurate and easy to use. You won't
use it at all if it's difficult to use. If it's not accurate, it's not
reliable. If it's not timely, or is delayed, then you can't make
minute-by-minute decisions.
Why is it that some business people wait before building a quality accounting
and bookkeeping system?
The process of integrating an effective accounting and bookkeeping system
requires a substantial amount of effort at the beginning of the process, but
pays off over the remaining life of the business. In the absence of a good Orinda
accounting and Orinda bookkeeping system, most businesses fail. The common myth
that a system such as this HAS to be expensive isn't true. There are many
powerful pieces of accounting software that are inexpensive. For many
businesses, setting up the software and conducting training only takes a few
hours. To set up the system from an owner's perspective is key- and it requires
a knowledgeable and experienced bookkeeper. The majority of accounting systems
are designed to process tasks- an important accounting function. The output of
daily, weekly or monthly management reports is also too valuable a tool to be
ignored.
How important is the size of my business, when considering the implementation
of a sound accounting and bookkeeping system?
A good system for accounting and bookkeeping is just as important to a small
business as it is to a large one. Keeping track of things like tax compliance
and planning, expenses, revenue, growth, invoicing, bill payment, income,
assets and liabilities without an accounting system is next to impossible,
without an accounting system.
A good Orinda accounting and bookkeeping system consists of the following:
Access to an experienced Orinda accountant: Choosing the right Orinda bookkeeper,
with the subsequent level of expertise and diligence; and responsiveness to the
particular needs of your business.
Software: Choosing the correct accounting software for your business
Filing system: a well-implemented filing and bookkeeping system adds to
efficiency and reduces stress.
Accounting Procedures: How businesses record sales, expenses, invoices and
bills will be very different, based on the size of the business.
Sufficient training for staff and owners. Training is important to ensure an
efficient use of your accounting system's full features and functions.
Depending on the size and complexity of your business training time can be as
little as a few hours.
Such an implementation sounds like it'd necessarily be expensive, however, it
doesn't have to be- if the accountant is willing to listen to the business
owner and understand their unique needs, and then set up the system
accordingly. Contact Capital Tax Accounting at 925-977-7784 today or by email
at cpa@capitaltaxaccounting.com,
for more information!
Capital Tax and Accounting
150 N. Wiget Ln. Suite 206
Walnut Creek, CA, 94598
cpa@capitaltaxaccounting.com
Phone: (925)977-7784
Fax: (925)977-1672
