More and more people are turning to the internet to help get their products out there and find success. More than ever, people can sell their products to people all over the world via the internet and different platforms. As successful as this can be, there are some complexities that make it difficult to navigate on your own, without the help of an accountant. Mark Dicus & Company is here to talk about the importance of accounting and bookkeeping for online sellers.
Importance of Staying on Top of Your Books as an Online Seller
Anytime you own a small business, you need to stay on top of your books to be successful. Here are some of the biggest reasons it’s important:
– Net Profit: You need to know what your net profit is to gauge whether or not your business is profitable.
– Tax Payments: It is also important to make quarterly estimated tax payments. You can’t do this without updated numbers.
– Audit: The IRS keeps a closer eye on small businesses. To avoid being audited, you need to make sure you don’t have sloppy numbers. It helps you avoid those triggers.
– Loans: If you find yourself in need of a loan, you are going to need to have the numbers to help creditors have confidence in lending you the money. Whether you are working with banks or investors, your books can help back you up.
Reasons to Work with a Professional Bookkeeper
Attempting to stay on top of the numbers and keep your own books can be a disaster if you aren’t diligent. Here are some of the reasons you might want to turn to a professional bookkeeper for assistance:
– Support: When you are tackling your books on your own, it can lead to a lot of time wasted when it could be better spent on other aspects of the business. Working with a professional can give you the support you need so that you can turn your focus elsewhere.
– Visual Accounting: Having the ability to simply glance at the financial statements for your business can be a gamble changer. You can make more informed decisions at the drop of a hat.
– Customize: Working with a professional can provide you with a customized experience. You can streamline the services to cater to the specific needs of your business.
– Year-Round Tax Planning: You don’t just get basic bookkeeping when you’re working with a professional. Tax preparation is taking place all year long as well. Even filing can be taken care of if needed.
Tax Preparation, Filing, Planning & More in Salt Lake City, St. George, West Valley City, Provo, Orem, West Jordan & Greater Cedar City, Utah
If you are a small business owner that seems to be drowning in the task of bookkeeping, you can turn to Mark Dicus & Company to take care of your bookkeeping and accounting needs. We want to help you reach your goals as a business as we help provide you with a clear financial picture. Call us today!