When to hire a Bookkeeper and an Accountant

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When to hire a Bookkeeper and an Accountant
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• Small business owners are experts at the
  products and services they sell. Many of them,
  however, are not so knowledgeable about or
  interested in the financial operations of the
  business. Recording sales transactions, paying
  supplier invoices, doing payroll. Boring!

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• But it has to be done. Otherwise, it just piles
  up and turns into an even bigger headache.
  Transactions get lost, mistakes are made, bills
  arent paid, filing taxes is a nightmare. If this
  is your situation, a professional bookkeeper can
  take the load off your shoulders and leave you
  free to do what you love in your business.

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What a bookkeeper does

• A bookkeeper is your day-to-day financial pro,
  maintaining complete and accurate records so that
  your small business can operate efficiently. A
  bookkeepers responsibilities include
• Implement standard accounting systems that your
  accountant can easily use
• Record daily sales, purchases, payments and
  receipts in your ledgers

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• Go over your existing records and fix mistakes
  made by inexperienced staff
• Enter tax deductible expenses with the correct
  coding
• Help you understand what the numbers mean
• Notify you of potential issues such as cash flow
  problems or delinquent invoices

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What an accountant does

• Your accountant is your high level expert. An
  accountants responsibilities usually include
• Examine and adjust accounts
• Provide long-term business planning and
  tax-consulting advice
• Use your bookkeeping data to file tax returns and
  other official reports
• Review and handle IRS notices

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How to find the right people

• Whether you decide to bring a bookkeeper on
  board as a full-time employee or use a consulting
  service, be sure to investigate your candidates
  carefully. After all, they will have access to
  confidential data and could have a significant
  impact on the success or failure of your small
  business.

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• One great option is a company which offers
  both bookkeeping and accounting services. That
  way, they can easily coordinate their efforts to
  provide you with the best quality, probably at a
  better price than if you paid two separate
  entities.

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• A bookkeeping company which offers cloud-based
  accounting software can make your life even
  easier. Xendoo integrates with Xero accounting
  software to provide small businesses with real
  time numbers. Accounting, on the cloud.

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• When youre ready to put your books into the
  hands of professionals, Xendoo stands ready to
  help with accounting services designed especially
  for small business. From catch up bookkeeping to
  payroll to taxes, our experts crunch the numbers
  while you get back to the work you do best.