The Importance of Good Bookkeeping in Business

As a small business owner, you must keep accurate and up to date records of your business’ financial transactions. These transactions include sales, purchases, income, and payments.

The two main reasons to keep these records accurate and up to date are:

1. Financial Records

Accurate financial records are essential for a business survival. These records will help you answer some very important questions. Are you making money, or losing it? How much? Is your business on solid financial ground, or are troubles lurking ahead.

2.0Internal Revenue Service (IRS)

The IRS is cracking down on companies that do not have well organized books and are auditing more than in previous years. Everything from not reporting your income and expenses correctly to not paying payroll taxes or sales taxes could get you into trouble.
Now, you must ask yourself; is your bookkeeping demanding a lot of your time? Is the bookkeeping task distracting you from supervising your business? If you answered yes to these questions, then you need help. Why? Because as a business owner, your job is to oversee your business, bring in new business, plan for the future, not hassle with paying bills, taxes, and keeping your books straight.

Do not get distracted or absorbed by your back-office issues, let Zhagui Solutions Group handle your office tasks. This way, you can focus on running your business. We guarantee our services will be more cost effective than what the average accounting firm in New York charges for the same work. All you have to do is contact us and we will go to you. We will discuss what your options are and we will find the best solution for you and your business.