BlackBull Accounting, Inc.



Bookkeeping

At BlackBull, we provide timely and relevant bookkeeping services for our business owners. Everyone knows that good bookkeeping is essential to the health of any small business. The problem is, most business owners know very little about fundamental, GAAP compliant, tax-savvy bookkeeping.

Business owners are often good at providing a specific product or service, but can be poor managers and administrators of their entire business.  The do-it-all business owner may be trying to bite off more than they can chew trying to tackle the operations of their business and the bookkeeping. As a result, owner-produced books are often inaccurate, overlook many tax-reducing opportunities, and cause headaches at tax-filing time.  In business, everything costs either time or money. Skimping on bookkeeping does not usually pencil out well. Saving a few bucks in tax-prep or bookkeeping fees can cost a business owner hundreds or thousands of dollars more on their taxes.

When it comes to bookkeeping, small business owners generally do 1 of 3 things:

1) Neglect the bookkeeping- Bookkeeping is not fun and may not produce an immediate cash flow for the business owner. Bookkeeping depletes owners of their time and energy. As a result, the books are put off until the last possible minute. It is a disaster waiting to happen… and it usually ends up on our desks (in December or January) in the form of a cardboard box and endless receipts, invoices, and bills.

2) Do the bookkeeping themselves- The owner is brave and tries to tackle every aspect of the business operations. However, similar to #1, since bookkeeping is not a "sales" activity, the books are often put on the backburner. When the owner finally does sit down to do the books, they are overwhelmed, scattered, tired, and have a hard time remembering how the software even works. It is not uncommon for a business owner to spend 20 - 40 hours or more at year's end trying to make sense of things. This is time they should be spending on revenue generation.

3) Hire a professional accountant / bookkeeper to handle the bookkeeping- This may be the best use of your time! You can remain focused on sales and what you enjoy and receive ALL the benefits listed below. (Go ahead. Scroll down!)

BlackBull provides fast and efficient bookkeeping services monthly, quarterly, semi-annually, or at years’ end. Most small business owners want us to do 100% of the work and provide support each month. Others might want to do some parts of the books and have BlackBull “check their work” and maintain accurate financials. It’s all good to us as long as we know the bookkeeping is getting done, and is done well. 

Here are a few of the benefits sound and up-to-date books will deliver to you as a business owner: 

•    Buy your time back! Spend those 5-15 bookkeeping hours each month generating sales instead of staring at your bank statements and spreadsheets! Or... spend more quality time with your family and friends!!
•    Preserve your mind, focus, and energy (and reduce your need for more coffee?)
•    Stress reduction 
•    Peace of mind (what is that worth to you?)
•    GAAP compliance for the IRS and FTB
•    Capture unseen expenses
•    Fraud detection!
•    Reduce taxes payable
•    Generate current financial statements. Forget what you think or feel; KNOW what is actually happening
•    Build the company’s worth
•    Satisfy underwriter’s requirements
•    Provide information necessary in the case of an audit
•    Ensure the business is tax return-ready at year-end (no more year-end projects!)
•    Provides monthly facts, figures, & transparency and the best business management tool there is!
•    Provides an intangible asset to the company
•    The bulk of the bookkeeping project fees are one-time expenses
•    Monthly maintenance fees are inexpensive
•    In most cases, you may not have a net cost for bookkeeping
•    Help determine the value of the company when selling the business or transitioning ownership 

Each year, we also help many of our clients with their personal budgets!  Don't be afraid to ask for help.