Things To Consider Before/during The Transition To Jusshe Services
Which accounting method is best? (Cash, Accrual or Modified accrual method)
We will discuss these methods to make sure we are using the best possible method for your business
Separate Business and personal expenses.
It can be very easy to mingle business and personal expenses, especially for small businesses just getting started. It is crucial to avoid this temptation and draw a clean, straight line in the sand between your business and personal finances. This will help you avoid messy, inaccurate financials that could potentially land you in trouble with the IRS. From the start, we will make sure that a separation of business and personal finances can be achieved.
Track all expenses and maintain accurate records.
This ensures that we can properly manage cash flow and that we are keeping accurate, up-to-date financials for better decision-making. These are also key factors for lenders or potential investors who are deciding whether to invest in a business. We will sync all business accounts (bank,loan,credit cards) to Quickbooks so that transactions are automatically pulled in and nothing is missed! We might also need access to your POS system to make sure revenue is recorded and reconciled on a monthly basis.
Automate when possible!
Running a business can pull you in a thousand different directions making it easy to lose track of an invoice, receipt or even completing the basic accounting functions like reconciling your bank account or recording your receivables properly. We will work to clear the clutter off your desk and automate where we can.
