I’m sure you have heard the old adage that if you fail to plan, then you plan to fail. Well, that concept rings true with running a business as well. If you don’t know or care where you are going, then you will be sure to arrive there – wherever “there” might be. Success rarely is achieved by accident. The first step is to define what “success” is or looks like for your business. Without a defined goal, your aspirations are just hopes and dreams. The next step toward success is to track your results so that you have adequate feedback as you move closer to your goal. Accurate and timely feedback allows the business owner to make course corrections along the way to keep the ship moving in the desired direction. If no financial feedback is available, or if the feedback is available but ignored, the business is sure to miss the mark and drift aimlessly.
I am a strong proponent of keeping accurate and timely financial records for your business. Ensuring that you have access to accurate and timely records and also receiving training, if needed, on how to interpret and utilize those records is a fundamental key to operating and maintaining a successful business. Whether you handle your own bookkeeping or use a professional such as our firm to maintain your financial records, this element of your business is worthy of your time and commitment. The feedback provided by doing so throughout the year is invaluable in and of itself, but the fact that your year-end income tax return preparation process will be streamlined is an added benefit and may save you in fees as well.
At Weech Financial, PLLC, we offer full-service bookkeeping services down to consultation on as-needed basis and everything in between. Each client has different needs and we can provide whatever level is desired. The point, again, is that the record keeping must take place each month on a timely basis whether or not it is done by the business owner or by a firm such as ours. If you have questions about the monthly bank reconciliation process and what that entails or would like to get a quote from us for bookkeeping services, please contact us. In addition to monthly bookkeeping service, we also offer the complementary services of sales tax return preparation as well as payroll processing and payroll tax return preparation, when applicable.
Enjoy your summer, even if the forecast high temperature for today is 115 degrees!