The Small Business Accounting Tasks You Might Not Have to Do Yourself
You could spend all day handling small business accounting tasks and still never finish crossing everything off the list. How can you offload some of the things that need doing, but that you don’t really have time to do? Here are some of the small business services you could be taking off your plate.
Taking Advantage of Start-Up Consulting
When you are in the early stages of starting a business, you’re all enthusiasm and sleepless nights, running on a combination of caffeine and your drive to succeed. But it’s in these early stages that you can make some big mistakes. Those mistakes can have long-term ramifications for you and your business. This is where start-up consulting comes into play.
Instead of trying to make the best choices based on information you may or may not have gathered from reliable sources, take some of these crucial decisions off your plate and hand them over to an experienced professional. A firm that offers start-up consulting can help you fine-tune your business idea and focus your business plan; they can assist you in your search for the right capital funding, help advise you on start-up expenses and investments, and guide you in the creation of your budget. Here are a few other things they can help you with:
1: Make the Right Entity Selection
Making an entity selection for your start-up may not seem like a big deal now, but come tax time, it can make or break you. Entity selection is a big decision, with many factors to consider. All have far-reaching implications for your business, your liability, and your tax considerations. Having advice from a tax expert can help you make the right choice, right out of the gate. You can change the company entity down the road, but it makes your life a whole lot easier to get it right the first time.
2: Get Help Getting Tax ID Information
Have you ever tried to maneuver through the process of obtaining tax ID information? If this is your first start-up, the answer is probably no. When you start a company, you can’t just wait to make money and then let the IRS know. They want to know before you start rolling in the dough. That’s why you need state and federal tax ID numbers for doing business. With help from the pros, this painful process can be a breeze.
3: Selecting and Implementing the Right Accounting Software
Have you given much thought to the accounting software you’ll use for your start-up? Probably not. Your focus and energy have been on your product or service. You’re trying to get it right, researching the process of getting it to the marketplace, figuring out how to promote it, and wondering what the demand will be.
But somewhere along the line, if you’re doing something right, you’ll start making money. When you do, you’ll need an accounting system. The right software program from the start can make everything you do easier. Changing systems once your business is up and running can be a huge pain and a big undertaking. A start-up consultant can help you choose the right software, and then implement it so it fits your needs. If you choose a good firm, they’ll also have the bookkeepers and accountants on staff that you’ll need to manage your books and utilize the software to keep your finances in tip-top shape.
It’s natural to wear many hats as you launch your venture into the world. But your business deserves the best focus you can give it. For your small business, no matter what stage you’re in, click or call 678-990-0924 for a free consultation to learn how outsourcing those small business accounting tasks can help your company become more profitable.