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Posted by: Charles P Myrick CPA Posted on: Aug 16 2016 Posted in: accounting services for small businesses

How Small Business Owners Choose Bookkeeping Services

Many small business owners use accounting or bookkeeping services to manage their day to day financial records and reports. They find that these services have a direct impact on the cash flow and profitability of thier businesses. If you are planning to hire a small business accounting service, there are several things that you need to keep in mind before you make the decision.

Accounting Firm vs. In-House Bookkeeping

Some business owners assume that they need to put a bookkeeper on payroll to keep track of the day to day fiscal records, but there are many benefits to hiring an outside firm instead. When you are working with an accounting or bookkeeping services firm, they provide all of the expertise that you need, and you don’t have to worry about the added costs associated with paying a full-time employee.

What Bookkeeping Services are Available?

It is important to consider the financial services that your company needs in order to determine the best accounting firm to hire. Talk with prospects to make sure they provide all of the services you may require. The offerings should include the following:

  • Tax preparation
  • Bookkeeping
  • Payroll management
  • Cash statements
  • AR/AP management   
  • Financial statements
  • Handling the balance sheet
  • Expert advice to manage cash flow

Each business is different, which is why your small business accounting services will be catered to the individual needs of your company. A good accountant will offer solid financial advice throughout the year, instead of talking to you once a year when it comes time to do your taxes. 

Checking Their Reputation

Make sure you understand the reputation of the company before you commit to their services. You can often find reviews online, or ask the company for information about the other types of clients that they have worked with in the past.

Download Free Guidelines for Financial Records Storage

For accurate record-keeping and reporting, cash flow management, and support on initial accounting setup, contact Charles P Myrick, CPA. Recognized as one of Washington DC’s top accounting firms for small businesses, we can help set up the systems that will move your small business to success. (202) 789-8898