Managing the finances of your business can be rewarding, but it can also be a major time suck.
Poking around on Lifehack.org we recently read that Accounting was listed as one of their top 20 time-wasters. While “listicles” can sometimes be corny and not worth reading, we here at Grey CPAs would like to address the claim that accounting is a time waster for your business. After all, in business, time is money – and if you are spending all of your time straightening out your money instead making it, then you might be better off handing off the responsibility.
Often times, small business owners will take on the burden of managing the finances of their business all by themselves. Sometimes, business owners are able to do this and still maintain time for other activities such as sales, procedure, and management. But more often than not, Grey CPAs deals with Fort Collins, Loveland and Windsor businesses where the owner is doing all of the financial management, which takes away from potential profits and growth of the business.
This is where hiring a professional CPA like Grey CPAs can actually benefit the bottom line of your business. Think about it. As a small business owner, you might be in one of a few different situations. If you are the only employee of your business, then that means that everything from sales and execution of your actual service to marketing and finances falls squarely upon you. In this case, any time that you spend outside delivering your service to your customers is taking away from time that you could be spending finding new leads and growing your business. This is when it is a good time to call a business accounting company like Grey CPAs to manage your finances, so you can spend more time growing your customers.
If you are a small business that has a handful of employees working for you, then most of your time is probably spent managing the employees and projects that you currently have. As a business owner and manager, you always want to make sure that the quality of your service to your customers is maintained, and again any time that you spend worrying about finances takes away from time that you could be acquiring new projects, managing current projects, growing your business, or training your staff. A good accounting company is able to take this burden off your plate, and almost every time you will cover the costs of your accountant when you are able to spend time inside your business. Grey CPAs is an open-communication accounting company, so you can always call to get the 4-1-1 on your bottom line, and we will work with you to make sure that your business is successful.
But perhaps the largest benefit to working with an accounting firm for your small business is the tax implications. Tax season is often times a huge burden on small business owners. You want to accurately and intelligently sort out all of the moving pieces in your business to ensure that you are putting you and your business in the best possible position when it comes to your taxes. Unless you are an expert on tax code (which some business owners are!), a professional CPA will almost ALWAYS be able to find you new ways to save money or claim items on your annual taxes so that you can put more money back into your business instead of the hands of the IRS.
At Grey CPAs, our primary focus is to make sure that your small business is in the best possible situation financially to not only grow your business, but to protect yourself and your business from potential financial potholes along the road. Give us a call for a FREE consultation at 970-818-3055 (main office) or 970-776-5020 (Loveland office) and let’s talk about how we can help your business. Our business is putting your business on the financial road to success.
