SAN DIEGO, CA, September 10, 2013 /24-7PressRelease/
-- Helping businesses to better manage their finances is something that Joyce Kamps
is passionate about. She understands that tracking, organizing, and managing accounts is key for business success and for tax purposes. A recent article
in Business 2 Community outlines three main areas of focus for small businesses when it comes to accounting. Joyce Kamps adds her professional insight on the topic.
Tax Day, a critical day of the year. Businesses know that they have to have all of their finances in line by this date. It is easy to push things off, however, being prepared and keeping things organized throughout the year can reduce the stress felt when the deadline rolls around. Small businesses should establish a routine that allows them to manage their finances each week. Rather than letting things pile up, take time to sort and file regularly. Setting aside a designated time to work on accounting tasks can help to keep things under control. Use this time to make sure that all invoices and expenditures are recorded. Ensure that enough money is set aside to cover payroll and all other expenses. Look over the general state of the business' finances. This can help to prevent any surprises because things are well managed and organized.
It is important to keep all financial documents related to the business. This means holding on to bills, invoices, bank statement, receipts, tax returns, and anything else that has to do with the company's finances. While this may seem excessive, it is better to have these documents on hand than to scramble for copies later. There are several software programs that can help business owners to stay organized. As the company becomes more established and business owners become more familiar with which documents are essential, they can begin to know how long to keep these documents.
While it is tempting to quickly swipe the company credit card for a personal purchase and repay the money later, this can become problematic. Instead, keep all personal and business transactions separate. Only use the company card for business purchases. This will make documentation and accounting easier. Establish separate checking and savings accounts for the business. As things progress it is important for business owners to understand how much they can handle and when things have become too difficult to manage on their own. Investing in a professional accountant can make keeping up with finances easier and less stressful.
Joyce Kamps highlights the benefits of hiring a professional accountant. "Business is all about money," she explains. "Any small business needs to be able to account for what it spends and what it takes in. Getting an accounting software package and learning how to use it is the most efficient method of keeping track of all of your transactions and the bottom line. Once you get the hang of it, you'll spend less time, have greater accuracy, and be able to spend more time on your core business."
Kamps continues: "Accountants are more than just the folks in the back of the room adding up the numbers; they are essential business partners. Some specialize in specific industries, others just size of a business. They can help you through a myriad of business obstacles, such as business licenses, how to set up a business, when it is time to hire staff, business plans, budgets, and more. They can even help you to pick the right software. Having someone to guide you through the issues that arise, while keeping an eye on your taxes, will help you to avoid costly mistakes and make your business even more profitable."
Joyce Kamps recommends small business owners consider investing in an accountant to help start their business off right.
is an experienced accountant who has spent many years in the industry. She has worked her way up through the ranks to become a valuable asset to the companies she has served, helping them to better manage their finances. Her wide range of talents includes payroll, accounts payable, accounts receivable, inventory, and more. She enjoys passing on her skills and knowledge to young accountants so that they can grow and improve their careers.