If you own your own interior design business, you likely know how important a good Certified Public Accountant (CPA) is to the success of your business. They can be a lifeline as you trudge through the complexity of taxes, planning your company’s tax strategy, and providing other advice.
Most accountants have spent years in undergraduate or graduate-level studies to become equipped to do their work well. They need to not only be able to expertly manage numbers, but also to make important decisions based on those numbers.
Despite the importance of accountants, they can’t accomplish their job without the foundational work of a bookkeeper.
A bookkeeper is responsible for the minutiae of tracking your business expenses – every penny that comes out of your business’s bank accounts should be tracked by your bookkeeper. Without a bookkeeper that does their job well, even the best CPA will be ill-equipped to make the right calls for your business’s tax strategy.
If your accountant is like a big-picture advisor, a bookkeeper is the person who puts all the pieces in place so that the grand plan can go off without a hitch.
Here are 3 ways that an interior design bookkeeper can be more influential than a CPA:
Having a CPA is important for tax planning, but having a bookkeeper to examine day-to-day transactions ensures that the tax preparer can do their job correctly.
A bookkeeper makes preparing for tax season easier because all business expenses are tracked – even the ones that are easy to overlook! Meticulous tracking from a bookkeeper also reduces the risk of mistakes that would occur if you were doing your bookkeeping on your own – they give early insight into profitability and help reduce fraud risk.
Keeping you informed
An experienced and knowledgeable interior design bookkeeper will alert you to happenings in your finances that you may not have noticed. As you become more aware of your day-in and day-out spending, you will be able to recognize both healthy and unhealthy habits and begin working to make changes that will help your business.
The good news is that you don’t have to wonder where to find a great bookkeeper or accountant. AccountSolve’s Profit First Professionals will work with you to implement the practices laid out in this blog to help your business thrive. Schedule a call today so that you can move from overwhelmed to confident!