March 31, 2020

Smart Accounting to Smart Financial Decisions

Small Business
By: Ronald B. Allen

Smart Accounting Leads to Successful Financial Decisions

When your books are a mess, so is your business. If this is the problem you constantly have, maybe it is time to outsource your bookkeeping and accounting. When choosing someone to do your bookkeeping and accounting, look for someone who will not just get the numbers right. Look for someone who will help you improve how you run your business and retain your profits. The bottom line is that smart accounting leads to successful financial decisions in your business. When you partner with the right accounting company they become your trusted advisors and they should be actively looking to increase your profits.

The first and most obvious thing you need when you outsource your accounting is for your financial accounting to be up to date and accurate. But, a smart accountant can do so much more for you. At Exigo Business Solutions we do your bookkeeping and accounting. But, what we love to do is help you change your business so that you manage your cash instead of the other way around. We truly partner with our clients to help them achieve their overall business goals.

At Exigo we are Trained and Certified Profit First Professionals. We belong to a specialized and unique group of bookkeepers, business coaches, and accountants whose focus is the profitability of your business. As we do your tax returns and keep your books, we provide you with a unique accounting system that aims to maximize your profits now and over the long term. When you outsource your bookkeeping and accounting to us, you do the work you love, and we make sure that you have the financial insights to make your business the most profitable that it can be.

Successful Financial Decisions with Profit First

Like all great ideas, the Profit First method is simple. You allocate a portion of your income to profit each and every accounting cycle. Sounds good, right? Now you will be steadily accumulating a cash reserve in your profit account. But, wait, where does that money come from? What is the catch?

A business owner who is great at running his business may have a lot of money coming in the door. Unfortunately, the same business owner may not have a good head for budgeting and managing cash flow. So, expenses creep in, like termites in the woodwork, and eat up all of the profits. This situation is so common in human nature that a historian named Parkinson described it. “Demand for a resource increases to meet the supply of it.” In the case of your business, the supply is the money that comes in the front door and the demand is every little expense that is not held in check.

Smart accounting leads to successful financial decisions because smart accounting with Profit First shows you clearly where the money is going and forces you to make the decisions needed to control costs.

Getting smart accounting on your side starts with outsourcing to someone, like Exigo Business Solutions, whose business is to make your business more profitable. We use tools specifically designed for small business, like QuickBooks, and are continuously utilizing the wise counsel of Certified Profit First Masters to always ensure your profits are our priority.

Contact us at Exigo Business Solutions and get started with smart accounting for successful financial decision making for your business.

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