It’s imperative that small businesses, in order to stay lean, pay close attention to their accounting. From time and project tracking, to improved productivity, to accurate invoicing, all these issues relate to accounting.
It’s imperative that small businesses, in order to stay lean, pay close attention to their accounting. From time and project tracking, to improved productivity, to accurate invoicing, all these issues relate to accounting. You have to track time and projects in order to send accurate invoices. 
You have to account for all of the functions of your contractors and staff in order to improve productivity. 
Without addressing all these issues, and monitoring your results, there is no real way to plan for the future of your business. 
Even if you’re a one person operation, it’s important to have some sort of standard operating procedure in place to set up new client accounts, projects, and invoicing criteria. If you have no idea what you’re doing and just go by the seat of your pants, you’re going to lose money. 
The worst thing that can happen to a small business is not keeping track of income and expenses in a logical and legal manner and finding out that you owe the Government thousands of dollars. It happens to many small businesses and sometimes they don’t recover. If you hire a qualified CMA/CGA they can ensure that you set up your systems accurately, that you understand when, how much and how to pay quarterly taxes. If you’re not meeting with your CMA/CGA monthly, or at the very least quarterly, you need a different CMA/CGA.

 


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09/27/2016 3:16am

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01/04/2017 4:53am

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01/07/2017 9:50am

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