How to Find the Right Bookkeeper

Whether you own a small business or a major corporation, you are going to need a bookkeeper to keep your records and your finances straight. While you might think that all you have to do is find someone with experience at bookkeeping, it’s actually a little more complicated than that. Finding the right bookkeeper takes work and know-how when it comes to what to look for.

For starters, you definitely want to hire someone who is a good communicator. You need a bookkeeper who can speak to you in a way you can understand without talking down to you. Likewise, the bookkeeper you hire should be able to understand your needs and to meet them with ease.

You’ll also need a bookkeeper who has all of the necessary skills to do the job. You want to hire one person to take care of all of your financial and record-keeping needs, so it makes sense that you would want to hire someone who can handle a wide range of tasks. At a bare minimum, your bookkeeper should be able to:

l  Reconcile bank statements                            

l  Send and track invoices

l  Take payments

l  Process payroll

l  Manage accounts receivable and accounts payable listings

If you can keep these things in mind as you search for a bookkeeper and commit yourself to being selective and discerning, there’s no reason you can’t hire a great bookkeeper.

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Accounting: A Profitable Career Choice

Accounting Today recently revealed that accounting and related careers are some of the most profitable jobs of today.

Accounting, along with tax preparation, payroll services,and bookkeeping reportedly had a net profit margin of around 19.80% last year, beating out the legal services industry, the oil and gas extraction industry, and the commercial and industrial machinery industry.  

That’s pretty impressive, but you may be wondering what it has to do with you. Well, when you really think about it, a lot. Truly skilled people tend to go into fields where they can make good money and be financially secure. And, when those people are financially secure, they tend to work harder and do better at their jobs.

Thus, you can look at the profitability of accounting as proof that there are many good accountants out there. In fact, you don’t have to look far to find a great accounting firm in Naperville and the surrounding areas.

With so many skilled accountants working in the industry today and many more looking to join the workforce, there’s absolutely no excuse not to have an accountant working for you.

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Two Easy Tips for Better Bookkeeping

2 Easy Tips for Better Bookkeeping

Proper bookkeeping is necessary for all businesses to thrive. Every business could probably stand to get a little better at bookkeeping, though, and these surefire tips can help make that happen: 

1. Plan in Advance: Is your business in need of expensive new office        equipment? Or maybe you’d like to open up a new location in the next year or so.        When you have known big expenses on the horizon, start planning for them early.      Try putting them on your calendar at least six months in advance, even if it   means holding off on actually going through with a purchase or other move.            When you know a big cost is coming your way, you’ll keep it in mind constantly   and will be more likely to adjust spending accordingly.

2. Coordinate Your Bank Statement: Did you know that some banks will actually allow you to customize the cut-off date for your statement cycle? If your bank offers this option, take advantage of it. If you can match your statement date up to the schedule all your other finances are running on, you’ll find it much easier to keep track of how much you’re spending and what you’re truly netting.

These two simple tips can make a world of difference. For other useful tips, contact a local accounting firm.

Tax Time Mistakes

Tax time, have you met the deadline? If you are one of the many procrastinators, it’s crucial that you don’t make a mistake. Unfortunately, if you haven’t been doing the proper bookkeeping, you’re at a high risk of making a mistake, especially if you’re feeling rushed and stressed about the tax filing process.

Mickey Mouse's Social Security Number (Photo credit: Tom Simpson)

So, what’s the biggest tax mistake people make? Surprisingly, it’s often the little things that go wrong. One of the main mistakes people make is listing their social security numbers incorrectly or not listing them at all. The IRS reports getting thousands of tax returns without proper social security numbers, a mistake that can lead to late fees and interest charges.

To avoid little (and big) mistakes on your tax return, don’t take on the tough task of bookkeeping on your own. Let the friendly, professional accountants at Susan S. Lewis Ltd., located in Naperville, handle the tough work for you!

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