Business Bookkeeping Articles

Document Management NJ – 5 Tips on the Best Way to Manage Work Flow

Managing work flow is one of the most important aspects of running a business. The better the work “flow”,  the more efficient your company will run. Before you lose out on potential profits with your business, consider some of the tips below to effectively manage your work flow.

1 – Have a Document Management System in Place

A basic tenant of efficient document management is to have a well organized filing system. It’s impossible to run a profitable business if you cannot find the documents you need for a job., Even on a virtual level filing can be a tedious task, but a professional outsource bookkeeping service can handle and organize your document management system so that the financial information you need is available at your fingertips. All you have to do is review and manage.

2 – Plan the Day’s Schedule in the Morning

Before the work day begins, have a plan in mind as to what each employee needs to accomplish that day. Of course be flexible in case problems arise, but workers need goals to keep on track. This will also make document management easier in the end.

3 – Set Limits on Breaks and Personal Time

Employees can get distracted by emails, phone calls, and other breaks in work. This loss of concentration can quickly get a person’s mind off track. Good policies and practices for all company’s should include no cell phones, no texting, no personal e-mails and no surfing the web during working hours. If they have any form of personal communication it should be notated on their time sheet and deducted from paid hours. This will not cost you down time and will eliminate the abuse of personal communications during working hours.

4 – Rely on Management Software

Manual document management is hard to keep track of, but you can easily monitor your payroll, inventory, sales and more if you use the best business software on the market today “QuickBooks.” QuickBooks will permit you, with the touch of a button, to view and analyze the financial information you need to run an efficient and profitable business.

5 – Move Non-Core Work Activities out of the Office

Consider outsourcing or sub-contracting non-core activities like bookkeeping, payroll and document management to a professional bookkeeping or accounting service. Outsourcing allows small and medium size businesses to compete on a level playing field with big businesses.

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

Building a Virtual Business Model by Outsourcing your Bookkeeping

A business model is, in essence, the way a business is structured to make money. If you want to build a virtual business model for your company, where you use information technology and the minimum number of employees, outsourcing your bookkeeping and payroll is a great first step. Here is a look at how to Building a Virtual Business Model by Outsourcing your Bookkeeping.

A virtual business model can be difficult if not impossible to implement if you do not have the right software and expertise to manage your business information. With the help of a professional outsource bookkeeping service you should have no trouble getting the financial reporting aspect of your virtual business model operational. The bookkeeping service should have well trained professionals, certified and knowledgeable in QuickBooks software. QuickBooks, which is used by 83% of small and medium size businesses, is basic a building block for any successful virtual business.

An outsource bookkeeping service will be able to access your computer via the internet providing real time, actionable financial information on which to base decisions. If you need to get information to the bookkeeping service look for one that offers free pickup and delivery. All of your information can stored in the QuickBooks program for easy future reference reducing the usual piles of paper.

The fact is some bookkeeping services are better than others so make sure you research and locate several knowledgeable and experienced bookkeeping services. Then set up consultations to determine if they meet your requirements to put your virtual business model into action.

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

 

5 Mistakes Every Business Owner Makes: Find Them Fast in QuickBooks

QuickBooks is designed to make your business run as efficiently as it possibly can. QuickBooks software allows you to manage your business without the hassle of having to manage stacks of paper to figure out where your business is going. Every business owner makes mistakes but QuickBooks allows you to easily identify and correct those mistakes. Here are 5 Mistakes Every Business Owner Makes: Find Them Fast in QuickBooks:

1 – High Payroll Costs

You may have over hired because you want to make sure your customers get the service they need. QuickBooks payroll reports can help identify where you are over staffed so you can make  adjustments and improve earnings.

2 – Unrecorded or Misclassified Expenses

Every expense you have as a business owner needs to be recorded and classified properly for tax purposes. Saving cash receipts and correctly classifying purchases such as current expenses or assets is critical to avoiding inaccurate financial reports and hassles with the government. If your records are correctly maintained you will owe less money to the government and improve profits.

3 – Improper Input and Analysis of Financial Information

Many business owners will try to cut costs by trying to handle their bookkeeping through QuickBooks on their own. If you are not be able to use QuickBooks effectively you are wasting your time working on the books. Consider outsourcing your bookkeeping and payroll functions to a QuickBooks expert.

4 – Uneducated Cost Analysis

A QuickBooks expert can help you analyze your costs on a regular basis and can show you where you are spending money unnecessarily so you can cut back and increase profits.

5 – Overstocked Inventory

While you should always have enough products on hand to satisfy the needs of your customers, some items do not sell quickly. With professional help from a QuickBooks expert, you can manage your inventory so it yields the highest profits for you.

The author: Dawn Contardi ,owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com.

How to Run a More Efficient Business in New Jersey by Outsourcing your Bookkeeping and Payroll Functions

Two key ways to run a more efficient business in New Jersey is by outsourcing your bookkeeping and payroll functions. If you and your employees focus on the facets of your business that drive sales, the efficiency and profits of your business will increase correspondingly. As a business owner you may be handling the bookkeeping and payroll functions yourself, using an in-house employee or having your CPA do it. Here are a few reasons why outsourcing bookkeeping and payroll may dramatically improve the way your business operates.

Every moment that you spend on your bookkeeping and payroll is time that could be spent on another aspect of your business. If you have no professional experience with bookkeeping and payroll, you are probably spending far more time on it than you should just because you are unfamiliar with the process. Outsourced bookkeeping and payroll allows you to simply review the books and make good decisions based on good numbers.

Outsourcing your bookkeeping, allows a professional to look over your expense and  profit centers to determine where you may be able to see improvements in your business. A good bookkeeper can then competently organize and present the data so you can make the changes needed to improve your efficiency. A professional bookkeepers detailed reports can free your mind to focus on the more important aspects of the business.

The author: Dawn Contardi ,owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com.

 

Should You Outsource Your Payroll to a New Jersey Payroll Service?

If you have a business with employees, you inevitably have to take care of payroll. This is one of the most tedious but necessary tasks of management. Did you know that you actually have the option to outsource this time consuming and non-profitable task to a New Jersey Payroll Service? Indeed, if you let a professional outsource payroll service handle the preparation of your payroll and the payment of your Federal and State taxes, you will be able to concentrate your time on the profit making aspects of your business.

The concept of outsourcing your payroll may seem counterproductive because you do have to pay the New Jersey Payroll Service. However, the benefits become fairly obvious when you realize how valuable your time (estimated low end for owners $100/ hour) is compared to the actual cost of outsourcing your payroll (depending on the # of employees prices can be as low as $40/month). Some payroll services will charge more money than others, so make sure you seek out competitive prices. The bottom line is a professional payroll service can do the work in less time and save you money because the economies of scale allow them to focus on what they can do more efficiently than you or your employee.

Every small and medium size business should consider outsourcing this costly, non-productive task to a New Jersey Payroll Service. There is no better way to ensure that your payroll is being handled properly. If you do not have the right software or knowledge to do your payroll properly, you may be paying and filing inaccurate Federal and State reports that could result in fines, penalties and increased taxes at the end of the year. A third party professional outsource payroll service will alleviate such concerns.

The key to locating and hiring a professional outsource payroll service is to research and verify their credentials, designations and work experience. Such an organization should have a thorough knowledge of programs like QuickBooks which is commonly used to manage and prepare payroll for small and medium size businesses. Professional payroll services are also able to take care of other accounting services for you as well, like tax preparation and bookkeeping. Most payroll services offer a free, no obligation consultation and price estimate so you should be able to find the help you need right away.

The author, Dawn Contardi, the owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

 

Serious Shortage of Skilled Bookkeepers in New Jersey means Outsoucing to a Professional Bookkeeping Service may be the Answer

            

For business owners it’s sad to say but true, finding an individual who claims to be a bookkeeper is not difficult, getting a competent one that fully understands bookkeeping is another story. It’s not just the general concepts of bookkeeping that a potential employee needs to know, they also need to be well versed in the QuickBooks Program which is almost universally used by small and medium size businesses. Potential employees will claim to know the program but the reality is the work load at most small businesses doesn’t require their bookkeepers to know and understand the entire QuickBooks Program. If you are lucky enough to find that, “ACE Bookkeeper,” can your business afford the $25 per hour compensation, plus benefits (i.e. Pension, Health Ins. Vacations, Holidays, Sick Days, Personal Days, Soc. Sec., Unemployment Ins., and Disability Ins.) this individual will command?

 

Does your business have 40 hours per week of skilled bookkeeping work or can a lower cost clerk handle the bulk of the work? If you don’t have enough work for a full time qualified bookkeeper it makes economic sense to save money by sub-contracting your bookkeeping functions to Professional Outsource Bookkeeping Service. An outsource bookkeeping service will get the work done quickly, efficiently and at a fraction of the cost of an in house bookkeeper. Just as important as saving money an outsource bookkeeping service will provide you with the accurate financial reports you need to make sound business decisions.

 

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

QuickBooks Support in Ocean County – Job Costing in QuickBooks

Accurate job costing is a very important aspect of any business. This process involves ascertaining the income and expenses for a particular job and determining the profit or loss. QuickBooks provides a great way for businesses to calculate job costing however, if you have no experience with the program it can be difficult to work with. You may want to seek out   QuickBooks support in Ocean County on how to use the software most effectively. Here is a look at some of the services QuickBooks support in Ocean County may be able to provide.

QuickBooks has a training program that individuals can go through to get certified in how to use their software but like most owners you probably do not have the time or the inclination to go through the complete training program. So utilizing a support team for learning how to properly use the QuickBooks’ job costing function makes sense.

You can take this one step further by outsourcing your bookkeeping to a QuickBooks support specialists to actually do your job costing for you. A professional will have in depth understanding of how to use QuickBooks to your advantage, and take the hassle out of your bookkeeping. This will free up more time for you to focus on making money for your business.

Since proper job costing is such an important component of any company’s financial analysis, locating a qualified Ocean County QuickBooks support team is critical to your success. Go online to find bookkeeping services and arrange interviews to verify credentials, experience and comfort levels.

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

Experienced NJ Accounting Services Give Tips to Jump Start Your Business

Running a business can be a stressful and overwhelming experience, no matter how much you know about your industry. The fact is you never know just how difficult it is to be a business owner until you actually have your own business to run. There are some steps you can take to get  your business on the best possible footing. Read on to find out how experienced NJ accounting services can be a resource to help you jump start your business.

Using an experienced NJ accounting service can provide you with a professional at your side to point out where to make improvements. A good accounting specialist (not necessarily an “accountant“) can help you devise a business plan that will efficiently allocate your available funds, manage your books and show you where to cut costs. The net result will be greater efficiency and higher profits for your business.

Formulating a good business plan, with the advice of an experienced NJ accounting service, will help you stick to clearly delineated goals for your company. Having a clear overall mission statement will facilitate your decision making process as you strive to achieve your short term and long term goals. Knowing where you want your business to go is the key ingredient to sustained long term success.

It’s a cliché but never underestimate your competition. To be successful you must thoroughly analyze the way your competition operates, improve upon it and use it. Intimately working with your customers will help establish the reputation needed for regular quality referrals. Finally remaining passionate about your business is the pathway to staying on track and achieving your goals.

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

New Jersey Accounting Service Gives Advice on How to Outsource to Independent Contractors

If you run your own business, you may not realize that a lot of the work you do could actually be outsourced to Independent Contractors. Outsourcing is a simple process where you turn over specific tasks to qualified professionals that have expertise in different business functions. The most common tasks businesses can outsource to independent contractors are payroll, accounting services and bookkeeping.  Here are some tips that can help you use independent contractors to your advantage.

The first step is to identify outsourcing professionals that are experienced and certified in the areas you need assistance. A New Jersey Accounting Service with expertise in bookkeeping, payroll and tax preparation should be qualified to work with “QuickBooks.” QuickBooks is the program that 83% of all small and medium size businesses utilize.  An accounting service should have QuickBooks experts on hand to provide vital financial information about your business and answer your questions in a timely basis.

 Some accounting services can be more helpful than others, depending on where their strengths lie. So make sure during the interview process that in addition to checking out experience and certification qualifications you also obtain referrals. Verifying the results other business owners have had with their accounting service will help confirm your decision making process. The  initial consultations should be free, with a no obligation price quote to help you determine how cost effective their help will be. In making a decision don’t forget to calculate how much time you free up to devote to the profit drivers of your business.

After hiring an accounting service, a routine will developed over time that will enable your financial information to be prepared, presented and analyzed on a regular basis. The regular analysis of your business and the resulting wise business decisions is where the benefits of outsourcing will be made manifest in improvements to efficiency and profits. No matter how big or small, the right independent contractors can do wonders for your business.

The author: Dawn Contardi ,owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com.

New Jersey Bookkeeping Firm Gives Advice on How to Use QuickBooks

QuickBooks is the best bookkeeping software solution for small and medium size  businesses  because it allows for paper less document management. It is the premier accounting program for 83% of all businesses and is the most cost effective at the same time. However, QuickBooks can be a difficult program to operate if you are unfamiliar with how it works. Fortunately, there are QuickBooks Professionals that can handle your bookkeeping and keep your business running smoothly.

A firm providing bookkeeping services should have the certification, experience and the knowledge of the QuickBooks Program to do the work at hand. This means that the firm should have qualified personnel that went through a comprehensive QuickBooks training program to learn what specific features QuickBooks has to offer. An accounting degree is not necessary, but they need to know what it takes to input and keep track of your payroll, sales, expenses, accounts receivable and payables for your business.  

Finding and hiring a qualified in house bookkeeper is difficult if not impossible and do you really need the expense of a professional bookkeeper 40 hours per week? CPA typically charge $150+ an hour just to do basic bookkeeping. So engaging the services of an New Jersey Outsource Bookkeeping Service that is certified in QuickBooks can easily cut your overhead and make your business more efficient. They can point out areas of your business where you may be paying too much money, and offer solutions to overspending that you may not be able to see.

Before you begin to search for a New Jersey bookkeeping firm, review what areas you need help, what functions are you comfortable outsourcing and which ones do you want to keep in house. Then arrange for consultations with several firms that provide FREE no obligation price quotes, check out their credentials, ask for referrals and make your decision.

The author: Dawn Contardi, owner of Sharp Bookkeeping Service, a Certified QuickBooks ProAdvisor and a member of the American Institute of Professional Bookkeepers with 25 years of experience can be reached at 732-458-3800 or www.sharpbz.com

 

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