Shoot me now.  Isn’t that how you feel?

Well, there is good news.  If you use a GOOD bookkeeper (like us), and you use GOOD accounting software (like QuickBooks) and you used a GOOD accountant (like these) for your tax returns, you will sail right through!

Here’s a recent article from Govwin.com:

IRS Audits of Small Business Software Files

Does Your Bookkeeper Really Know What They Are Doing?

There’s no faster way to kill a business than to mishandle its finances. That’s why it’s surprising how often small business owners hand their books over to a bookkeeper and simply assume everything will be OK. There are ways this assumption can really hurt your business. Plus, there’s an easy remedy.

Bookkeeper Madness Mistake #1 – Hiring a bookkeeper with less QuickBooks skills than advertised:

Small businesses often look for bookkeepers with QuickBooks skills since QuickBooks is the most popular small business accounting software. But a bookkeeper can easily stretch the truth about her exact level of experience during the interview process.

If you’re not a QuickBooks expert yourself, how can you tell if the person you hired really knows the software’s advanced functions or whether she is getting by on the basics? Do you hire her and find out 3 months down the road — after you have invested a ton of time and resources?

Maybe your new in-house bookkeeper believes she can “learn on the job.” If that’s the case, as your company’s bookkeeping needs grow, there’s a good chance your bookkeeper will find herself in over her head.

And what about cost? Perhaps your bookkeeper’s rate seemed reasonable upon hire, but now you are paying for her training while simultaneously taking on the risk of mistakes? Or simply not making the best use of your accounting software or your data?

Bookkeeper Madness Mistake #2 – Thinking QuickBooks Skills are the Only Skills You Need:

Let’s assume for a moment that the data going into your QuickBooks file is correct and your bookkeeper is reasonably skilled at using the software. Ask yourself these questions:

• Is your business using that information to make better decisions?
• Does your bookkeeper review your Profit & Loss Statement, Balance Sheet, and Cash Flow statement with you regularly?
• Can your bookkeeper develop custom reports that capture nuances particular to your business?
• Does your bookkeeper help you draw business insights from your numbers or simply spend a lot of time tallying up revenue & expenses so you can prepare tax filings?

What’s the remedy to bookkeeper madness?

First, when interviewing for bookkeepers, always check certifications. Intuit (the company that publishes QuickBooks) offers various levels of certification. It’s one thing for a prospective bookkeeper to tell you she knows QuickBooks and quite another to be certified by QuickBooks.

Second, ask tough questions about how the bookkeeper can help you make business decisions. In the past, what type of business reporting has he or she provided to clients or employers, and what are some examples of how this reporting has helped lead to better strategic decisions?

Third, consider hiring a pre-qualified bookkeeping service that can tailor their functions to meet your small business’s needs. There is no training required, no benefit costs, no time wasted hiring and firing, and most importantly, things are done right the first time.

(Special thanks to Ed Becker, licensed CPA in NY and MA for this article)

Consequently, they all work extra hard to get all their clients work up to date and complete earlier in the month, so they can start playing hooky about now.  I’m no different.  I wander in late, leave early, and am excited that the phone is not ringing with new inquires for business.  Yet.

However, in another two weeks folks will start to come out of the woodwork because the year will have ended and their bookkeeping is still not done.  That’s when the phone starts to ring.  It’s OK–I’ll be well rested and ready for them!

Are you one of those?  Don’t call yet…you’re this late, you may as well wait another two weeks.  Let’s talk after the first.  And in the meantime?  Go home and make cookies.  Or better yet, eat them.  Mmmmm

MERRY CHRISTMAS AND HAPPY NEW YEAR!  (and all the other holidays, too)

               “IRS Form 1099 Reporting:  What you Need to know”

Faculty

Nancy Abrams, Esq.

• Attorney with Spector Gadon & Rosen, P.C.
• Practices in labor and employment law
• Former adjunct professor at Drexel University
• Written numerous articles on employment-related topics for industry publications
• Presented numerous seminars, including two that were broadcast statewide via satellite
• J.D. degree, University of Pittsburgh School of Law; graduate, cum laude, Harvard University

Francis J. Cellini EA, ABA, ATA, ATP

• Chief executive officer of the public accounting firm of B. Joseph Cellini & Co., Inc., Chadds Ford Accounting Professionals
• Enrolled agent licensed by the U.S. Department of the Treasury to represent taxpayers before all administrative levels
• Obtained the Accredited Business Accountant, Accredited Tax Accountant and Accredited Tax Preparer credentials
• Board member and state director of the Pennsylvania Society of Public Accountants
• President elect of the Pennsylvania Society of Public Accountants
• B.S. degree in business administration accounting, Widener University

Michael J. Davis, CPA

• Owner of Michael J. Davis, P.C.
• Public accounting for 37 years and is a Certified QuickBooks® ProAdvisor
• Board member for several nonprofit organizations
• Member of AICPA, PICPA and PSPA
• Voted best Accountant/CPA in Bucks County by the readers of the Intelligencer for 2003, 2004, 2005, 2008, 2009 and 2010
• Speaker at Central Bucks Chamber and IQnection Nonprofit Summit
• Bachelor’s degree in business administration, Temple University
• Can be contacted at accountant@MJDavisCPA.com

Denise Worrell

• Founder and CEO of Your Bookkeeper, based in Medford, New Jersey
• Practice entails financial recordkeeping and tax reporting for small businesses (primarily in New Jersey and Pennsylvania, but in other states, as well)
• Presenter at local chamber’s of commerce on topics such as Best Business Practices and Recordkeeping for Tax Preparedness
• Speaker at women’s events in New Jersey and Utah
• Certified QuickBooks® ProAdvisor
• Vice president of Finance for the New Jersey Association of Women Business Owners, Tri-County Chapter
• B.A. degree, The College of New Jersey
• Can be contacted at denise@1866dobooks.com, 1-866-DoBooks (866-362-6657) or www.1866dobooks.com

Nov 1st?! Why does the end of the year sneak up on me like this?  

Oh, I know there’s still another 60 days, but in my world, Thanksgiving and Christmas own a lot of that time.  Next thing I know, it’s January 1 and all my clients are scrambling to do everything they meant to have completed by the end of December.

This is an accountant/bookkeeper’s fact-of-life, but it doesn’t have to be yours.  Whether it’s things in your business or things in your life in general, remember to schedule your priorities.  Everyone is always busy prioritizing their schedules, but the really important stuff may never get on that schedule.

Instead of waiting to make New Year’s Resolutions, why don’t you get a head start?  What really has to get done before the end of the year?  Think, pray, plan, and execute.  From what I hear you still have 60 days to pull it off…

I’m sad.  No, I mean like really sad

All you fall lovers, shush up.  I think it’s pretty, too.  But it means winter is headed our way.  All you winter lovers, you skiers, you crazy “I love the cold” people–settle down.  The cold is just NOT fun for me.  Well, OK, I love Christmas and I do have some lovely sweaters…

However, there is ONE thing I really look forward to when summer is over.  All you business owners who are behind on your bookkeeping suddenly wake up and go “Whoa!  The year is more than half over!”  And then you go looking for a bookkeeper to do your QuickBooks.

“Seek and you shall find.”  Jesus was talking about wisdom.  I’m talking about Your Bookkeeper.  Here we are.  Give us a call and let’s fix that problem.

Now let’s all wear white until Tuesday morning.

How could this be?  I was up early this morning enjoying coffee on the deck, I had a lovely 35-minute bike ride before 8 a.m., and I had both breakfast AND lunch out!  I felt great!  It felt like a dirty trick my body played on me, “pretending” to be fine, when all along my immune system was getting lazy.

Sometimes life is like that, too…relationships, appliances, even business.  Everything seems like its fine, but suddenly things aren’t so fine and you realize, “something was amiss” long before you reallized it.

So here’s my advice.  Take your vitamins, get enough sleep.  Kiss your spouse/listen to your kids.  Keep up with your warranties, tune up your car, and make sure you have a good bookkeeper.  (You were wondering how I was going to work that in there, weren’t you?)  You could start with us.  Besides, with this summer cold, I could use some cheering up.

ENJOY THE REST OF YOUR SUMMER!

I don’t mean, did they get lost in the file room or something–but did you ever suddenly NOT have the bookkeeper who was the one person who knew how to do your books, and suddenly you feel like you’re naked and alone in a confusing and harsh world?

OK, that’s an overstatement.  But it’s a scary feeling:  What bills are due?  How do I print a check?  What’s the balance in our account?  How do we get payroll called in?  Don’t you just hate it?

Recently I had two bookkeepers who had to leave, due to personal commitments.  It happens.  All it meant for the clients who were assigned to them, however, is that they got an email with their new bookkeeper’s name, phone extension and email.  We have standard practices, and all the information specific to each client is kept in their file, so we just pass the file over and keep on going.  We don’t miss a beat.

I’ll bet that’s not how it went for you, is it?  Well, the next time you’re naked and alone because your bookkeeper has left, declare “As God is my witness–as God is my witness they’re not going to lick me! I’m going to live through this and when it’s all over, I’ll never be hungry again.”  Oh wait, that’s Scarlett’s line…

OK, just pick up the phone and hire us.  We promise to never leave you naked and alone.  Or at least not bookkeeper-less.

OR

You filed an extension (again) and are back to procrastinating mode.  Isn’t it fun?  At least you’re predictable, right?  Little known fact:  Many, many accountants are also on extension.  Does that make you feel any better?  Of course, they actually have a valid reason; they were so busy filing every one else’s that they put their own on the back burner…shoemaker’s children, and all that.

But you?  Well, you probably just don’t have your stuff together, right?  As usual.  So what’s going to change?  Will it ever change?  How can it change?  Come sit on our couch and let’s have a session.  Er, I mean, come hire Your  Bookkeeper and leave the driving to us.  At least we’ll get you there on time.

Meanwhile, you’ve got 6 more months to procrastinate.  And you probably will.  At least you’re predictable…

(Enjoy the spring weather while you’re at it!)