If you own your own small business, you are all too aware that it’s not just the dream that’s going to make the business run and be successful – there’s the business plan and the start-up capital and the website design. And somewhere in all that planning, we put to the side the task of accounting. The only accounting that’s “really important” is how to make any income on this brand new venture, right? Not true – having a good handle on your accounting is critical to your endeavor’s success.
If you are self-employed, having an in-depth understanding of your bottom line, your inventory and your efficiency are imperative. If you know everything there is to know about fashion design but didn’t know that quarterly payroll taxes even existed and are now confronted with the daunting task of figuring them out, we are here to help.
Some of the accounting services that MJW EA & Company, LLC provides to our small business clients are:
- Peachtree and QuickBooks training, consulting and transaction work when required
- Balance Sheet reconciliations and analysis
- Preparation of monthly, quarterly or annual bank reconciliations
- Recommendations of improvements in many key business areas including operations, systems, HR, tax, credit & collections and accounting.
Think there are not any “real” consequences to shirking the accounting? You will not be able to accurately estimate your taxes and you may be subject to penalties for underpayment come tax time. You may incur overdraft fees at your bank and/or interest for late payments of bills. If you are applying for a loan, the bank will require timely and accurate financials and banks will not lend money to businesses that aren’t able to provide them. Lastly, tax preparation fees will increase as more work is needed on our end to get your financials in order.
Bottom line? Our help can make the difference when it comes to your bottom line.