Credit Card Crash: How your card debt is putting the brakes on your business.
They’re a 10, but they have a bad credit score? Sounds like a red flag.
Bad credit could mean no mortgage, no car loan, and a host of other debt disasters for you AND your company.
But wait! Business and pleasure don’t mix, right? If you’re thinking your personal credit has no impact on your business finances, you may be walking into a debt trap.
More than you think.
The money side of running a business can be like swimming against the current. All that time and effort with little to show for it. Controller4Hire is here to make sure you don’t drown in fancy numbers and tricky math.
When you outsource your accounting to us, we handle the rough stuff. You generate more revenue and increase your profits. Win-win.
Here are some advantages of accurate bookkeeping:
Of course your first duty as an entrepreneur is to your vision and the clients you serve. But as a business owner, numbers also impact everything you do.
Quality bookkeeping is the difference between being able to take major financial leaps and risks that will help you prosper and having to resign yourself to stagnancy.
That new course package to up level your qualifications? If you’d invested in keeping your books straight, you might have the cash to pay for it. Good records can give you the extra money to hire more staff, develop new products or build better services.
If you know the data you have in your books is reflective of your real-world financial situation, you can feel confident making big-money decisions that will bump up your business.
This will benefit you when it comes to financial planning and budgeting. Let’s say you want to know if your business can afford spending money on better marketing techniques. You need accurate data, otherwise, you’re fumbling around in the dark. If your data’s off, you may even lose money by investing in marketing.
Money comes and money goes but accurate bookkeeping to track your cash flow will help you figure out what’s too much or too little for your own business goals when money flows in and out.
Even more importantly, when you invest in bookkeeping, you’ll protect yourself from theft, hidden errors and fraud.
Cross reference your expenses and compare them to your budget. See anything that looks not-quite-right? Your alarm bells will go off when things don’t match up if you’ve been keeping a good track.
Accurate and detailed bookkeeping puts you in a position of power.
You’ll be able to control expenses and allocate which money goes where within your business. You’ll also be less inclined to spend frivolously when you see the hard numbers.
If late fees are more your concern, an expert bookkeeper will always remember when your invoices are due. Relying on your bookkeeper will save you from paying hidden fees and extra money.
If you’re ready to explore how accurate bookkeeping can transform your business, our team at Cotroller4Hire is ready to connect with you to discuss our professional bookkeeping packages. Set up a free consultation call today to learn which plan, Economy, Deluxe, VIP or Pro, is the perfect bookkeeping option for your needs.