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Bookkeeper - New York Successful Businesses Follow Good Business Practices
Bookkeeper - New York Successful Businesses Follow Good Business PracticesBy Margo Masri
So you have a successful business, you need a way to keep track of all that incoming revenue. Additionally, you need a way to keep track of expenses so that you can figure out just how much money your business lets you take home. We're talking, of course, about bookkeeping and accounting.
The attitude at many smaller detail operations is something like, "Hey, just so I'm payin' the bills, I don't really care about the books." I believe this is not so much a disregard for good business practices, however more a normal apprehension or misunderstanding of correct bookkeeping practices.
Yet most successful business owners will tell you that they attribute part of their success to "staying close to the numbers," (i.e., practicing good bookkeeping and regularly checking reports). There are several advantages to keeping good records of your income and expenses, including:
-the opportunity to determine the specific sources of income, for example, from different advertising campaigns. This allows you to make decisions about future advertising purchases based on historical performance
-the ability to monitor expenses, thus allowing you to make cost-cutting purchasing decisions minimizing your tax liability by thoroughly tracking all legitimate expenses
-the ability to show profitability should the opportunity arise in the future to sell the business.
RECOMMENDATIONS
Take this information as an introduction to the world of proper bookkeeping for your business. I strongly recommend that you take the time and spend the money to sit down with a CPA or professional bookkeeper to help you set up your bookkeeping system. It is well worth the investmentto make your job of record keeping easier.
For larger or busier operations, it may be worthwhile keeping a professional bookkeeper on retainer. Such an arrangement would involve the outsourcing those functions to a local bookkeeping services company. This really makes sense if your time can create significantly more money per hour than you pay the bookkeeper. He or she can get the job done much faster than you and with fewer mistakes.
Regardless of the amount of help you seek, I recommend that you use one of the fashionable computer-based bookkeeping software systems that are widely available (ie: Quickbooks). It's much easier to make a few entries on a computer rather than using a pencil and calculator.
Finally, stop trying to do it on your own! Get some help, even if it's from another operator who simply has more experience.
Margo Masri (Certified Quickbooks Pro-Advisor)Owner of Margo's Bookkeeping Service(We are QuickBooks professionals. We provide outsourced Bookkeeping services to NY's five boroughs and Long Island. Our goal is to provide professional, affordable, and timely accounting services to small and medium business while adhering to high standards of quality and integrity. )
http://www.margosbookkeeping.com
margo.masri@margosbookkeeping.com
,Bookkeeping For Your Catering Business
Bookkeeping For Your Catering BusinessBy Richard Calvin Myers
Bookkeeping for your catering business involves using an accounting program like quick book, profit and loss statement etc that shows your business transactions up-to-date. There are many types of bookkeeping records. You need to select the type that is most suitable for you. It is also essential to gain knowledge about sales tax and payrolls in order to maintain proper bookkeeping.
Bookkeeping for your catering business consists of recording prime business transactions of income, purchases and sales. If your business is small and just growing, then you need to make entries for day today financial transactions and turnover. It is essential to appoint an accountant or bookkeeper to make these entries. If your catering business is a large one, then you need to use separate accounting software. It is also essential to maintain proper bookkeeping for the value of services sold to the customers and the value of stocks bought from the suppliers.
If you are a small owner running a business and want to maintain proper bookkeeping for your catering business, then bookkeeping software tool is an excellent option to record your daily financial activity. You need to just enter your daily cash or bank payment and receipt transactions in the software. This is simple and affordable. This also enables you to view transaction report, sales report, income and expenses statement and so on. This software provides you bar chart of your net income and expenses every month. This helps you to track your catering business progress frequently.
If you want to earn more profit in your catering business, then you need to control food cost. The greatest way to control cost for your catering business is to keep exquisite bookkeeping records. The bookkeeping for your catering business helps to track inventory, identify shrinkage problems, track your receiving and audit your pricing. Afood-costing program based on these bookkeeping records can help you save lot of money and to run the business successfully.
Bookkeeping for your catering business is not difficult however may be time consuming. In fact, bookkeeping helps you to fix the correct price. You need to fix the price of your food item after considering material expenses, overhead, labor expenses plus certain percentage of profit. Materials include the raw materials like vegetables, fish, and chicken and so on. Overhead expenses include gas expenses, utility bills, rent etc. Labor expenses include salary to chef, other staffs etc.
Fixing the price for your food product is not easy. It is an art that requires a certain amount of skill and knowledge. Proper bookkeeping helps you track fluctuations in price levels and to fix correct price. One of the factors that lead to the success of catering business is proper record keeping.
If bookkeeping for your catering business is excellent, then you will not face any problems during tax payment. Again, records in bookkeeping help you track seasonal trends. This helps you to make better decisions and pre-organize events properly. In short, a good bookkeeping can save lot of time, money and effort and increase your profit. It also makes your business better organized.
Richard Myers's website will provide you with easy to use directions on starting your own catering business. Check out the Earning Potential and other information at: TastySuccess.net
,5 Easy Steps to Starting Your Bookkeeping Business in 30 Days
5 Easy Steps to Starting Your Bookkeeping Business in 30 DaysBy Sylvia Jaumann
Do you find yourself wishing that you had your own bookkeeping business and hating your current job? For years I was miserable working for managers who never seemed to appreciate my valuable skills or pay me what I felt I was worth.
Then one day a light bulb went on after I met a self-employed bookkeeper who seemed so happy working from her home. I knew right then and there that's what I wanted too!
If this describes you, then here are five easy steps to get you started in your own bookkeeping business.
1. First of all, get organized and setup your workspace. If you don't already have an accounting program, buy one and install it on your computer. Setup a system for tracking client hours and filing client paperwork. Have a backup system in place for securing your client data.
2. Then phone around to other local bookkeepers and find out what they are charging per hour. Set your rates according to your experience level. You may have to start out at a lower rate to get clients and then raise your rates later.
3. Figure out what services you'll offer and what types of businesses you'll target. Will you be offering other services such as income tax returns, collection letter services or word processing? Also, decide what types of bookkeeping clients you prefer (retail, services, non-profit, etc.)
4. Advertise and tell everyone you know that you're lookingfor clients. Start by running a weekly classified ad that briefly lists your services. Don't by shy about talking to others about your bookkeeping business either. Almost everyone knows someone who owns a business. Ask people if they know someone who is looking for a bookkeeper. After all, word of mouth is the greatest way of getting clients.
5. Decide if you'll ask for a retainer before taking on your first client. This is important because some people are very poor at paying their bills on time. If you request a retainer up front and only do work until the retainer is used up, you'll never have to worry about getting paid on time.
All these steps will take less than 30 days to accomplish. I don't promise that you'll be a full-time self-employed bookkeeper in this amount of time because building a bookkeeping business does take time. But if you follow these steps you should easily have at least one client by the end of 30 days.
Want to learn more about advertising methods that work for starting a bookkeeping business? Who better to teach you than another bookkeeper who's figured out what really works? Click here