Starting a bookkeeping service can be a viable source of income, if you optimize your accounting service to handle more than just keeping track of someone's finances. There are specific services you can offer your potential customers, in your new bookkeeping service.
It was not that long ago that accounting services were offering monthly reports to help the owner understand their financial situation, so they could make accurate business decisions and forecasts for their company. Today however, most companies need up-to-the-moment reporting, in real-time to help them with bridge loans, long-term borrowing and payroll accounting.
To find out more about these services, seek help from the internet. For better results you can also search for ‘affordable payroll and bookkeeping services near me’ and get the required results in no time.
Optimal customized reports
As a total bookkeeping service, you can provide accurate sales reports, account receivable reports and profit and loss statements. These up-to-the-minute reports allow the owner to have an overall accurate picture of their company to help in accurate business forecasting.
Tax planning and tax liability forecasting
Maintaining reports on licensing and other local fees for the company, gives them the opportunity to minimize their tax liability. The knowledge these reports generally provide the company with obvious ways of reducing the tax bill, sometimes resulting in greater profits.
Loan application assistance
Many small business owners require bridge loans, or short-term loans to help with accounts payable and payroll. Offering bookkeeping services assistance can provide loan application information to assure the business owner that their applications are filled out correctly. This relieves the business owner from confusing and intimidating hassles of obtaining the correct financial information for the loan applications.