Congratulations! As the owner of a small business, you know what it means to work hard, take chances, and make sacrifices. Now that you’ve achieved the dream of starting your own business, it’s time to focus on marketing, building a strong customer base, and perhaps most importantly, maintaining accurate financial records to ensure your hard work is protected.
If you’re like most entrepreneurs, you are likely the expert in your industry. After years of research and experience, you clearly know the ins and outs of your field. However, that doesn’t mean you’re expected to be an accountant or financial guru. Many new business owners don’t realize the amount of time it takes to do their own books; time that would be better spent on revenue generating activities.
Perhaps you figured once you opened your business, you would hire a bookkeeper to take care of that chore. Unfortunately, you may not have realized hiring a full-time accountant would be a financial strain, using resources that could instead be invested in the business itself.
According to the U.S. Small Business Administration, something as simple as whether or not to accept credit card payments can have a tremendous impact on the success of your business. While accepting credit cards can certainly increase business, it also adds another intricate element to your bookkeeping process. Often considered an unavoidable operating expense, small business owners must be prepared for the extra time and knowledge required to reconcile credit card records, learn responsibilities in protecting customer privacy, and understand the possibility of credit card fraud and how to deal with it.
Rather than going it alone, let Roberts Tax Advisory guide you every step of the way. Our accountants focus on small businesses, offering the most reliable, cost-effective services available. We understand the unique challenges facing small businesses, and make it our goal to help you attain financial stability and growth. Contact us for a free consultation, and allow us the opportunity to become a part of your success.