The image of the formerly well-to-do business owner left bankrupt by poor financial decisions is one we’re all familiar with. But a lack of business savvy isn’t the only way to destroy a company from the inside. There’s also the common mistake that many small business owners make of letting someone else – like a hired bookkeeper or accountant – handle all of their finances because they simply don’t have an understanding of basic accounting principles. If this sounds like you, it’s entirely possible that you could drive your business into the ground without even realizing you’re doing it. Making the decision to outsource accounting services can help prevent that, but only if you seek the services of a firm that offers more than simple bookkeeping.
Being a small business owner often means being a one-man show. Some people love it this way; others would hire a legion.
Small business payroll processing isn’t a minor deal. Making even small mistakes can result in huge fines and.
Whether you’re talking about small business financial statements or those of a colossal, multi-billion dollar.
If your company doesn’t already have in place a set of strict rules and accounting processes, now may be the best time.
Although much has been made of standard accounting procedures and GAAP, there are alternative methods of reporting.
If you’re not terrified about the potential devastation that a single, disgruntled bookkeeper with an axe to grind can.
AccountingDepartment.com carries professional liability (E&O) Insurance and employee dishonesty coverage. AccountingDepartment.com provides accounting services, bookkeeping services, and controller services, as well as advisory services, to businesses nationwide. We do not provide tax services, including but not limited to tax preparation, tax law, tax compliance, tax filing, and tax planning services. Please consult your CPA and tax advisors for tax consulting.
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