Don’t come up short on at the end of the year. You should hire bookkeeping professionals, accompanied by accountants. Here at BFS, our analysts have examined a microcosm of the Northern Virginia area: including places like Vienna, Sterling, and Herndon—all within the larger Washington DC metro area.
There are commonalities we’ve found among cities in this area. Most cities rich with growing and flourishing private sectors. Even despite being in close proximity to a veritable hub of government activity. More and more professionals have been striking it out on their own as small business owners and entrepreneurs. The problem that small-business owners are finding is that the issues that arise relating to their books. That causes issues their finances and their entity structure. All of these matters don’t necessarily pertain to the expertise that involve the actual business. The owner of a massage parlor shouldn’t have to know everything about QuickBooks. The operator of a tanning salon shouldn’t have to be a professional bookkeeper.
Stories of business owners growing frustrated with the accounting side of operating a business seem to be the same. Business is booming. But the burden of doing their own books and accounting, becomes increasingly problematic. especially as their respective industries grow.
Besides from doing your own accounting, you have two other options:
Hire an in-house bookkeeper to manage the big picture (and the finer details) of your day-to-day financial input/output.
Outsource your accounting to a third party accounting firm of professional bookkeepers.
The accountants, Enrolled Agents, and CPAs of Business & Financial Solutions have always believed that option B is almost always preferable. This is because hiring your own accountant is extremely expensive—often prohibitively. Doing the bookkeeping on your own (and trying to get it right) not only takes away valuable time. But it is also fraught with perils of its own. Outsource your bookkeeping to true professionals who won’t charge you an arm and a leg or give you a shoddy result. You get the best of both worlds.
We serve clients from across the country. But whether you (or a business owner you know) decides to work with us or another firm of bookkeeping professionals, remember: work with those who have the experience and the demeanor to get the job done right the first time.