Four Reasons To Love Bookkeeping (Even if You Aren’t an Accountant)

Deciding to start your own business is exciting. Entrepreneurship lets you take the things you love—what you’re good at and what inspires you—and turn those gifts into a career that supports you, your family and community. There’s only one problem.

Businesses need more than just core products and services to keep them alive. And the harsh reality is that running a business requires completing a lot of tasks you might not particularly enjoy. 

For instance, many business owners find bookkeeping inspires about as much enthusiasm as going to the dentist. Sure, it’s probably a good idea, but what if you find out you need a root canal? No one likes that. Not even accountants. 

This proverbial root canal (taxes, expenses, etc.), plus the drab reality of putting your books in order, makes it easy to put off updating your books. Unfortunately, this leaves a lot of valuable insight on the table. Not to mention ongoing confusion and anxiety surrounding finances.

This points to one of the main benefits getting your books in order: financial clarity. When the numbers are clear, you can make better decisions moving forward while improving cash flow—ultimately giving you peace of mind and confidence you’re moving in the right direction.

So let’s dive into a few exciting reasons to get your books in order—and not just if you’re a spreadsheet nerd. Hopefully, by the end of this article you’ll be ready to tackle your books and empower the greater vision of your company. So let’s go.

Save Time (And Money) On Taxes

Most business owners don’t view tax season in a positive light. It isn’t exactly Christmas (well, maybe it is for Uncle Sam), and getting everything in order can be stressful.

This is especially true when business owners wait until the last minute. Scrambling to figure out how much money they’ve made over the year almost always leads to inaccuracies and paying too much in taxes. Plus there’s the constant fear of an audit.

However, keeping clean books throughout the year makes tax season a breeze. You know everything you’ve earned—and spent—to make the jobs happen. That means a maximum refund and credits on accrued expenses. Plus, if you do get audited, you simply hand over your books to the IRS, no harm, no foul.

In other words, up-to-date and accurate books make tax season simple. So sit back and relax while everyone else sweats it. Go ahead and get your books in order today.

Financial Confidence at a Glance

Few things inspire peace of mind like knowing where you stand. And when it comes to the financial health of your company, up-to-date books can mean the difference between constant stress and confident decision making.

Accurate books are also critical in avoiding overspending. With access to reliable records, you know exactly when (and where) to ratchet back, as well as the times you can invest more aggressively in your business without excessive debt.

Speaking of debt, this confidence moves two ways. Clean records help you and creditors assess the financial health of your business. Well-maintained books also demonstrate transparency and financial responsibility—both of which establish credibility to lenders and investors.

Even if you don’t need a loan anytime soon, it’s still wise to keep your books in order. You never know when an investment opportunity will roll around, and having a clean and clear view of your company finances helps you and potential creditors feel confident moving your business forward.

Clean Books Are Oddly Motivating

There’s something about seeing your finances in black and white. 

It can be scary, sure, but it also has a way of inspiring creativity. You see what you’ve got, what’s working and what isn’t, and can then use those insights to propel your business forward.

The key to keeping these insights flowing—and your business growing—is reconciling your books regularly. This may mean quarterly updates, but monthly reports are usually preferred. Otherwise, you may miss valuable insights along the way—the kind that have a way of boosting your bottom line.

Financial Peace of Mind: Granted

At the end of the day, staying on top of your company’s finances brings peace of mind. You know where you stand, what needs work and what’s already working—and that helps a lot of business owners sleep at night.

Accurate books make tax time simple. They also inspire you, instill confidence and keep the business moving forward. So with so much to gain, the task of regularly upgrading your books might not be such a bad idea. But there’s still one problem.

Actually doing it. 

Bookkeeping is tedious. It takes time. It isn’t particularly fun. (Unless you are one of the special individuals gifted with a love of spreadsheets.) And, here’s the kicker: you have to know what you’re doing.

Integro has been helping business owners like yourself gain financial peace of mind. We offer full-service bookkeeping and can help you with anything from a one-time consultation to taking complete ownership of the financial duties related to your business.

To find out if financial services are right for you, give us a call. Your initial consultation is completely free and we’ll help determine which of our services (if any) seem like a good fit for you. Then you can make the right decision in your own time, with zero pressure from us. 

So don’t hold on to the stress of not knowing where your business stands. Hop on the phone today and take the first steps toward financial peace of mind.

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