When it comes to small businesses, every dollar and dime counts. It’s crucial to be aware of your financial status and to have someone on your team who knows their way around the books. Follin and Associates, PLLC is the small business accountant to call in High Point, Kernersville, Greensboro, Winston-Salem, or Clemmons, NC. Below, we’ve detailed the importance of having a small business accountant and how they can help.
Make Better Business Decisions
Understanding your financial situation gives you the power to make better decisions for your business. This means that you will know if you can afford to hire more employees or if you can no longer afford to have others on your staff. Without accurate and detailed financial reports, you may be making these decisions on a whim, which could be hurting rather than helping your business and its growth.
File Your Taxes On Time
Each year, you will need to file your taxes and ensure that they have been filed correctly. Failure to do so will, either sooner or later, lead to interest and penalties fees. As a small business, you may not have the luxury to pay off these fines, especially if they have accumulated over the years. Furthermore, late or missed filings can draw attention from the IRS, who may want to complete an audit of your business. A small business accountant can help you avoid these issues.
Avoid Cash Flow Issues
Follin and Associates, PLLC offers bookkeeping services. Through bookkeeping, we can help you ensure that your staff is paid accordingly while monitoring how much money you have generated and what you have available in your accounts. We also keep track of accounts to be paid and received so you are always up to date with your operations.
Follin and Associates, PLLC is here to keep your business on track. Get in touch with us today to learn more about our bookkeeping services and to see what we can offer you.