Accounting and taxes are killing you.
Accounting and taxes. That’s the thing that more than FORTY percent of small businesses surveyed say are the things they hate MOST about running a small business. Most have no accounting software.
The vast majority of Small Businesses are still keeping their receipts in envelopes until the end of the year. They are still doing their books manually.
They are manually creating invoices, manually tracking expenses, manually keeping track of accounts receivable, manually tracking inventory, manually reconciling their bank statements each month.
And they have huge piles of folders and papers on their desks and are in a general mess.
You are at risk of losing $170,000 this year to fraud.
Further, the biggest and fastest growing segment of criminal activity in the USA today is employee fraud and theft according to the FBI. Small businesses are the most at risk and account for the majority of this theft because they cannot accurately track inventory, track payments, ensure accuracy of their accounting, etc.
The median loss to small businesses is a whopping $170,000 a year in fraud and employee pilfering. And the best way to fix that risk is to stop it before it occurs.
Countless small businesses go under each year because their messy financial scene eventually catches up to them.
They end up with bad credit, huge late payment fees and assessed fees due to late or forgotten payments to the IRS. And then there is employee fraud.
If this is you, you are at risk!
Most small business books are a mess!
Most small business people that I speak to are aware that their books are a mess. They reluctantly hire an accountant, or sometimes hire a bookkeeper.
But that someone who keeps manual records for them gives them absolutely NO feedback on their business.
Small businesses fuddle through, make a mess and bemoan the situation to anyone who will listen.
Tax codes are complicated, employee payroll deductions are frustrating, hours and hours are uselessly spent on these things and we become unpaid collectors for the IRS.
You are spending way too much on your bookkeeping
Small businesses are spending almost 10% of their income on trying to handle the mess they create by not being on proper accounting software.
And all this because we simply just don’t have time to figure out how to fix it. You are scared of the learning curve to learn accounting software and you close your eyes and hope for the best.
We have a solution
If this even remotely describes you then the good news is that there is a solution! And that solution is to firstly get yourself a proper bookkeeping company. Not one that will manually do everything and charge a fortune.
But one that will actually act as your CFO for you. One that will put you onto proper bookkeeping software, set it up for you, teach you how to use it PROPERLY. And one that will keep it all up to date for you.
As your CFO, your bookkeeper should be ensuring you get proper reports for you. Reports that allow you to see where your business is headed. They should give you a good cost savings analysis each month showing you where you can cut costs.
They should be giving you suggestions and ideas of where you are getting your most profits and help you steer your business to profitability.
No accounting software?
If you even have a bookkeeper and you are not getting that from them, if they are not using accounting software, then get rid of them and get someone that knows proper cloud based accounting software.
Software that can generate invoices for you, generate quotes, allow you to just photograph and upload your receipts so that you are not keeping them in an envelope.
You need Software that can give you proper reports, show you where you are overspending, help find cheaper suppliers.
Software that allows your client to instantly pay you online right from their emailed invoice or quote, and that can do much more to get your business moving.
Don’t have a heart attack!
Finances are the heart of your business. Finances are the pump that keeps you going, and if that pump is weak, inoperable, antiquated and just plain missing, you are likely to become one of those statistics called a failed business.
This is not some area that you should put off for another day. This is something that you ought to handle now!
We can help
At My Cyberstaff, we handle all this for you. Give us a call, let us show you what we can do for you.
We will cost you a lot less than you are spending now.
We save you money and cut your expenses. Our company ensures your receivables are collected on time and improve your cash flow. And we make you more aware of where your business is headed and how to get profitable.