While hiring a bookkeeper that lives in your state is not absolutely necessary, there are some important benefits.
For one, your bookkeeper will be familiar with payroll taxes in your state, which is critical if you plan on hiring new employees. A local bookkeeper can make sure you have the right licenses and accounts with the state, and are paying the right taxes for your business. Since tax codes and incentives vary in different states, it’s helpful to have someone with insight into the rules of your area.
Bookkeepers in your area will also support your financial projections. They understand how the local economy functions and will have a better sense of context for your financial decisions.
Not to mention, a local bookkeeper can help make connections with other business professionals in your area. They will be able to send referrals your way, but also connect you to other service providers you may need as your business grows.
When you should hire a bookkeeper
If you’re feeling overwhelmed with the billing, invoices, and record-keeping for your business, it might be time to seek out bookkeeping services.
As a business owner, you’re likely wearing many hats at once. Outsourcing bookkeeping tasks is a good way to free up time and get skilled help reviewing your finances. With a bookkeeper to go over your accounts, you will be able to spend more time operating and growing your business rather than nitpicking over account reconciliations.
Hiring a local bookkeeper is also a great option if you’re looking for someone with expertise in regional regulations. Although many bookkeepers these days offer their services virtually, having someone with location-specific knowledge can make a difference in understanding the context of your finances.
The role of a bookkeeper in your business
Bookkeepers keep track of invoices, receipts, and any accounts it takes to run your business. Managing business finances as you scale can get overwhelming, so it’s worth investing in professional bookkeeping to ensure everything is in order!
Plus, organized finances will pay off in the long run. By ensuring that your books are tidy and up-to-date, you will have accurate information to make financial decisions for your business. Quality bookkeeping can increase your cash flows, strengthen your business loan applications, and make filing your taxes a breeze.
Setting up QuickBooks for the first time
Many business owners use QuickBooks as an easy, efficient, and affordable accounting software to manage their finances.
If you’re using QuickBooks for the first time, it’s important to start off on the right foot to avoid errors later on. You’ll want to make sure you enter company information accurately and select the account settings that are right for your business. You’ll also be able to integrate QuickBooks with other software, connect transactions directly to your bank, and set up preferences to track invoices and expenses.
There is a lot to consider during the set-up process. It might sound a bit overwhelming if you don’t have experience in this field. If you’re looking for support when starting out with QuickBooks, we offer a one-time consultation that will address all your questions and set you up for success.
Cleaning up QuickBooks for long-term success
Ensure your books are in order by taking the time to check for data entry errors, reconcile accounts, and upgrade your systems. It may be tedious, but it’s critical to clean up your QuickBooks to budget appropriately and track your business performance.
Feeling like it’s too much to handle? Our annual, semi-annual, and quarterly bookkeeping services can give you help managing your finances without the expense of a full-time bookkeeper.
Maintaining your QuickBooks over time with accuracy
Making sure your QuickBooks accounts stay organized will keep your business running smoothly. Constantly updating your purchases, payments, and cash flows will enable you to accurately understand business needs and make informed decisions.
If you need more regular bookkeeping to maintain your accounts, we have you covered! Check out our monthly bookkeeping services to keep your finances in order long-term.
Bookkeeping in Reno, Nevada
We serve clients around the country! Hiring an in-state bookkeeper is not mandatory, but as you can see, there are a few key benefits. Someone with multiple clients in-state understands the state sales tax, payroll tax, and other tax laws applicable to your business. And while your bookkeeper often won’t be filing your taxes, they will help maintain proper records for your accountant come tax season.
We’re big fans of supporting local businesses. Through our monthly newsletter, we spotlight businesses in Reno, Nevada to share their services with our community.
Are you in the Nevada area and ready to get support with bookkeeping? Head to our contact page to get started today.
