episode 133- the value of good bookkeeping for business owners

Amy Smith, a QuickBooks®  ProAdvisor at Rea, shares some of the common pitfalls business owners have to grapple with and why the secret to rising above many of these challenge lies in good bookkeeping practices.

As a business owner, how many hats do you wear on a daily basis? You have HR considerations to tend to, marketing initiatives to deploy, accounts payable to manage… and that’s not even taking into consideration why you got into business in the first place.

Our guest Amy Smith, a small business owner herself, knows all about the struggle. Amy is also a QuickBooks®  ProAdvisor here at Rea (just another hat she manages to balance), and on this episode of unsuitable, she shares some of the common pitfalls business owners have to grapple with and why the secret to rising above many of these challenges may just lie in good bookkeeping practices.

If you are a construction company and you need new equipment in an emergency, the bank won’t help you when your books are a mess. And if you don’t have good books when you do your tax planning, you may end up with a bill in April that you’re not prepared for. But if your books are always up-to-date, it’s like owning a map of where your business is going; you can be proactive, instead of being forced to react when you take a wrong turn.

If you are a business owner, you will be interested in these other topics discussed in this episode:

  • Why keeping good books is all about good bookkeeping habits, not the software you use, and what the best habits are.
  • What a balance sheet is (and the value of a strong balance sheet).
  • When you may want to call a professional bookkeeper (even if it’s just for a quick check up).

Want to learn more? Amy is running a series of QuickBooks® For Business Success seminars in Central Ohio. You can learn more about these events and RSVP on Rea’s Facebook page: www.facebook.com/pg/reacpa/events/.

If you liked this episode of unsuitable on Rea Radio, let us know by hitting the like button or by sharing it with your followers on social media. You can also use #ReaRadio to join the conversation on Facebook and Twitter, and you can watch the podcast in action on the Rea & Associates YouTube channel. We’ve also included access to additional resources on our website at www.reacpa.com.

**If you are using QuickBooks 2015 for your payroll, make sure to upgrade to a newer version of QuickBooks by May 31, 2018. After that date, payroll will no longer be supported**

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official transcript

Click here to read the official transcript for episode 133, “The Value of Good Bookkeeping for Business Owners”