10 Reasons to Use a Quality Bookkeeping Service

Quality bookkeeping is one of the foundational pillars of any successful business. Every decision affects your business and keeping accurate and precise financial records is arguably one of the most important decisions you’ll make. Not only does bookkeeping protect your business through the meticulous recording of financial transactions but it also offers the ability to stabilize and grow your company.

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10 Pitfalls to Avoid in Small Business Accounting

What common accounting mistakes should small business owners avoid?

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How to Set Up and Maintain Organized Financial Systems

Owning a small business has its fair share of challenges. As a business owner, you’re pulled in a hundred different directions each day. One of the most cited difficulties – and yet one of the most vital – is keeping track of financials. The most successful methods all begin with implementing the right systems and tools and end with properly maintaining those processes. 

Our team at Watkins & Co supports small businesses every day and we’re here to share some of the most effective business finance organization techniques for small businesses.

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Understanding and Managing Cash Flow for Small Businesses

Cash flow is the heartbeat of a small business and it’s crucial that you, as a business owner, manage this essential element effectively. Proper cash flow management can help you track expenses and revenue, identify potential problems early, and help guide your decision-making process. Yet cash flow can potentially be one of the biggest challenges you face. A U.S. Bank study found that 82% of recent small business failures reported that cash flow factored into their failure. So the question remains, how do you effectively manage cash flow for your company? Watkins & Co CPA experts are here to weigh in on the best cash flow management strategies.

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5 Best Practices for Small Business Bookkeeping and Record-Keeping

As a small business owner, you know that ultimately, finances are the engine that keeps your business running. Having an efficient bookkeeping system in place, one that is accurate and current is essential for your company’s success. The key to such a system lies in understanding and establishing best practices for small business bookkeeping and record-keeping. This enables you to capitalize on your business’s potential and maintain a smooth operation. Your success matters to us, so our Watkins & Co CPA pros are here to share tips on best practices for small business bookkeeping.

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In-house Bookkeeper or 3rd Party Bookkeeper

What’s Better for my Business?  Business owners often come to the incorrect conclusion that hiring a bookkeeper as an employee is the best use of their organization’s money.  In most cases bookkeeping is only a small part of an organization’s day to day administration; hiring an employee is not required. A business can hire a professional bookkeeper for a few hours a week or month to address the organization’s bookkeeping needs. (more…)