Bookkeeping seems trivial throughout the year and then tax season comes and it’s the most important part of your business! If you are sick of the back-and-forth here are reasons to outsource your bookkeeping to a virtual assistant that can save you headaches, time and money!! Having someone else deal with the paperwork makes sure that benefits don’t fall in the cracks. Here are just a few reasons how a VA can make tax season feel like a breeze:
- Entering all transactions (debits and credits) keeps all of your paperwork organized and easily accessed.
- Having complete bank records means accuracy and when it comes to money, accuracy matters!
- Keeping record of income, payment of employees and contractors keeps your team happy and efficient.
- Preparing for quarterly or annual taxes on a dime, with clean records.
- Analytics on spending patterns can help create a custom budget for your small business and show where corners can be cut.
Outsourcing is a great way for small business owners to minimize the hats that they wear and lighten their workload. You may not have enough work for full or even part time, but when a remote VA is handling your business, you still get efficient books at a fraction of the cost.
Recording all expenses without missing the write-offs that can save you money! You may not realize the receipts and, therefore, write-offs that you may be missing out on. Until you have your paperwork straight, your taxes will be skewed.
By not waiting until the last minute, you save on “end of the year cleanup” bookkeeping fees. You may not realize it now, but when you go into panic mode you start spending money. Panicking during tax season means hemorrhaging money and it is true, spending a little now can save your business a lot later.
Immediate categorizing and analyzing of income and expenses can allow better management decisions. When you understand where your finances are in the game, the game gets easier to play.
Less stressing over books and knowing that your paperwork is taken care of can prepare you for a better yearly tax plan. With Obamacare, tax season just got even more serious more small business owners. With new tax laws, fees and penalties at stake, you must be aware of every detail and knowing now rather than at tax time can save you a headache and possible… gasp… an audit!
The key to bookkeeping is time and preparation. Outsourcing allows you both, with also be cost-effective and hassle-free. When your books are in order, you are allowed to manage the decisions for your small business with information in-hand. Contact NOLA Virtual Solutions, LLC today to see how productive and easy hiring a VA for bookkeeping can be!