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Business Bookkeeping: 2 Easy Ways to Maintain Cash Flow

Business Bookkeeping: Cash Flow Tips

Business Bookkeeping | There are many factors in growing a business, and maintaining cash flow is one of them. Cash flow is defined as the money a business receives and pays. Maintaining that flow is important to avoid issues such as bounced checks and unpaid employees. Cash flow is also one of the many challenges for new business owners. As a result, we’ve simplified two easy ways to help owners avoid cash flow interruption. Learn more below, and contact us today.

Expenses

Expenses are expected, so knowing what they are is very important. For example, say your total expenses including employee pay is $25,000 a month. Avoid breaking even by assuring your accounts receivables are maintained. Send invoices early and enforce a penalty for late payments. Likewise, using a business bookkeeping service will help you organize your financial records.

Customer Loyalty

In addition, create value behind your product or service to increase customer loyalty. Added value can be a guarantee or free maintenance service. Of course, these additional features should not affect your profits. Therefore, speaking with an accountant is a great way to determine what added value is best. In general, added value generates more sales, and will outshine your competitors.

Also, promote a referral program. This encourages existing customers to promote your business. Did you know that people are more likely to purchase a product or service based on a personal recommendation?  It’s true. In fact, encouraging customers to post online reviews is also a great way to create customer loyalty. People naturally advocate. Give them the online platform and use their testimonials to further promote your brand.

Learn More

Business Bookkeeping | In all, cash flow should never be low. Maintain your accounts receivable and increase sales to assure you maintain your cash flow. Learn more about cash flow with a complimentary consultation at Ash CPA. We have over 20 years of experience assisting businesses of various industries and sizes. Our firm offers business bookkeeping, accounting, business consulting, tax planning, and more. Call (617) 462-6651 or request an appointment online. You may also visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. We proudly accept new clients and serve Framingham, Natick, Wayland, Weston, Sudbury, Marlborough, Southborough, Hopkinton, Ashland, Holliston , Westborough, Northborough, Sherborn, Midfield, Wellesley, and more.

Accounting Firm: 3 Business Insight Services

Accounting Firm

Accounting firms offer different services. Therefore, we suggest researching for one that provides services geared to growing your business. In other words, one that provides insight to your unique business and industry. These additional services truly help businesses grow by customizing each plan for success. Do more for your business today! Learn about these insight services below and contact us for more information.

Financial Planning

Everyone wants to be successful. However, everyone requires a different plan to achieve it. We recommend hiring an experienced accountant to assist you with financial planning. This insight will assist you in properly managing your revenue and profit. Along with financial planning, your accountant will advise you on tax saving techniques. Overall, your financial planning will protect your assets and wealth.

Payroll Processing

You have a team that operates your business and paying them accurately and timely is important. Don’t skip a beat. Instead, use an accountant to manage payroll. They will properly apply taxes, track hours, and process your payroll. In addition, accurate tax forms will be completed and sent to each employee.

Consulting

A great accountant is knowledgeable and experienced in your industry. Therefore, search for one that offers consulting to properly guide your business decisions. For example, every business owner plans to grow or at least minimize expenses. Have an accountant guide your decision-making. They will apply their knowledge and experience to make you successful. Whether you have short and/or long term goals, a great accountant will advise you in the right direction.

Improve Your Business Today

Accounting Firm | Ash CPA offers customized services to successfully grow your business. Our 20 years of experience allows us to assist any business within any industry. Schedule a complimentary consultation today. Call (617) 462-6651 or request an appointment online. Moreover, our office is located at 945 Concord Street, Suite 100 Framingham, MA 01701.

What is Tax Planning?

Tax Planning | Tax obligations are not entirely avoidable. However, professional tax planning legally reduces your tax obligation. Accountants are professional tax planners. If you do not already have one, hire an accountant today! Accountants are essential for every type of business. They are knowledgeable about current tax laws and recommend strategies in order to save you money. Learn more below and contact us today.

What is tax planning?

In short, tax planning is a strategy that uses current tax laws to implement strategies that reduce a person’s and/or business’s tax obligations. Your accountant will advise you on tax-law provisions that maximizes deductions and credits. Effective tax planning strategies allow you to excel financially yet legally reducing your tax bill each year.

Each business will have their unique tax plan. For example, some may benefit with simple business related mileage deductions. If so, we recommend tracking these expenses by using phone applications such as TripLog Mileage Tracker and Hurdlr. Other businesses may benefit from increasing marketing expenses. This is a great technique because you are investing your money back into your business as opposed to paying a bill. In addition, travel, insurance, and office supplies are other deductions businesses can use to reduce their tax liability. Overall, tax planning is a combination of strategies that will vary for each client.

Contact us.

Learn more about current tax deductions and credits with professional tax planning. Ash CPA has over 20 years of experience. In addition, our team offers an array of accounting solutions to best serve each business. Whether you have a small or large business, an effective tax plan is vital for your financial health. Contact us today. We proudly serve Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, and Sudbury. Call (617) 462-6651 or request an appointment online. You may also visit us at 945 Concord Street, Suite 100 Framingham, MA 01701.

How Bookkeepers Simplify Business Operations

Bookkeepers Framingham

Bookkeepers Framingham

Framingham | Bookkeepers are as essential as any other aspect of your business. So, how do bookkeepers simplify daily business operations? We commonly hear this question from hesitant new business owners. Therefore, we have narrowed the main operational duties that bookkeepers perform. Read more below and contact us for more information.

Recording Daily Transactions

Bookkeepers record daily transactions to offer better understanding of your financial success. It also helps to minimize expenses by evaluating your monthly debits versus credits. In addition, daily recording tracks your revenue. You will know the exact available balance and prevent interruptions in cash flow.

Cash Flow Monitoring

Cash flow maintenance is crucial for any business to thrive, especially in competitive markets. An interruption could cause bounced checks and unpaid workers. Fortunately, bookkeepers monitor your cash flow to avoid these issues. Stay current on your cash flow by hiring a bookkeeper.

Accounts Receivable and Payable Management

Your cash flow depends on accounts receivable and payable maintenance. Of course, your bookkeeper has this covered too. These professionals are great at tracking money that is owed and assuring that accounts are paid on time. Having a bookkeeper truly benefits busy owners. In fact, bookkeepers can save you a lot of money. They are definitely worth it.

Learn more about bookkeepers!

Bookkeepers Framingham| Ash Wasilidas, CPA offers complimentary consultations for bookkeeping, accounting, tax planning, and more. Contact us today to learn how a professional bookkeeper will simplify your business. Our firm has over 20 years of experience and is A+ BBB rated. We even offer 2 months free of bookkeeping for new clients. Therefore, contact us directly at (617) 462-6651 or request an appointment online. You may also visit us at 945 Concord Street, Suite 100 Framingham, MA 01701. Our team proudly serves Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, and Sudbury.

3 Interesting Ways Bookkeepers Benefit Business Owners

Bookkeepers

Many business owners view bookkeepers as a tool that improves cash flow while documenting transactions. By definition, this is true. But, did you know that having a bookkeeper provides you with more than just that? In fact, there are 3 interesting ways a bookkeeper benefits business owners. How so? Learn more below.

Less Stress

Business owners have many responsibilities. Their daily tasks include acquiring and retaining clients while assuring that operations are running smoothly. Why include numbers into the mix? Entrepreneurs can easily spend more than 40 hours a week attempting to maintain their own bookkeeping. Instead, reduce your stress by hiring a professional.

Improved Work-Life Balance

Less stress is great especially when you also improve your work-life balance with a bookkeeper. Hiring a bookkeeper allows owners to spend more time enjoying life. They can better manage their work-related tasks to allow for more days off and vacation days. You’ve worked hard to build your business. Enjoy more time with family and friends.

A Different Business Perspective

A second set of eyes offer a clearer understanding of your business. Bookkeepers create accurate monthly reports to show how the revenue compares to profit and loss. For example, a business owner may believe thier decisions are increasing revenue but reports show otherwise. In other words, hire a bookkeeper and understand exactly how the business is operating.

Contact Us Today

Ash CPA offers tailored bookkeeping for business of all sizes and budgets. Whether you have a startup idea or multiple established businesses, speak to our team. We have over 20 years of experience and offer additional services such as accounting and tax preparation. Interested entrepreneurs may schedule a complimentary consultation. Dial (617) 462-6651 or book an appointment online. We are conveniently located at 945 Concord Street, Suite 100 Framingham, MA 01701. Ash CPA proudly serves Framingham, Wayland, Natick, Southborough, Marlborough, Ashland, Sudbury, and more!