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Bookkeeping not a Favorite Task of Small Business Owners

Small Business Owners and Bookkeeping

A recent survey of more than 500 small business owners showed that bookkeeping services was one of

their least favorite tasks. The survey, conducted by TD Ameritrade, showed that 68 percent of small

business owners liked interacting with their clients and customers, while only 15 percent said they liked

bookkeeping. In fact, almost half of the small business owners surveyed said that bookkeeping was their

least favorite task. Banking and managing finances were tied for second place among the functions most

disliked by business owners. However only 22% of the survey participants selected each of these two

tasks as being their least favored while 46% selected bookkeeping.

Because bookkeeping is so critical to the efficient functioning and ultimate success of any business, it is

important to face any problems associated with it head on. Although it has been identified as a time-

consuming and often unpleasant task, there are ways to make it less so. Two potential “bookkeeping

solutions” are discussed below:

1) Develop an in efficient in-house bookkeeping system

Having an up-to date, organized and efficient bookkeeping system definitely makes completing

the necessary bookkeeping tasks easier, less time consuming and more pleasant. In addition, the

availability of more accurate information allows a business owner to make prompt and informed

business decisions throughout the year. Furthermore, an organized and efficient bookkeeping

system will ultimately save the company money. Not only will it avoid the time and expense of

cleaning up bookkeeping disasters at the end of the year, but it will provide the necessary data

for year round tax planning, thus saving the company tax dollars when tax time rolls around.

2) Enlist the services of an outside bookkeeping services provider

Another way to solve the problem of completing unpleasant bookkeeping tasks is to enlist the

services of an outside bookkeeping services provider. While this option my initially seem more

expensive, it may actually save money in the long run. In addition to having to all of the latest

and most up-to date accounting and bookkeeping software, licensed bookkeeping services

providers are experienced at putting the specific features of the software to work for their

clients. In addition, they are skilled at setting up bookkeeping systems that work smoothly for all

features of business accounting so that company books are always accurate and up to date. This

provides the groundwork for accurate decision making. On top of this, professional bookkeepers

make it their business to keep up with all of the latest tax law changes affecting the businesses

they serve, thus ensuring that the positive effects of long range tax planning are maximized.

If your business is seeking an outsourced bookkeeping solution, the experienced professionals at Orange

County Bookkeeping can provide you with the expertise you are looking for. Our licensed accountants

and bookkeepers are equipped to serve Orange County businesses of any size, structure or industry

focus. Visit us today at www.ocbookkeeping.com to learn more about our full range of bookkeeping,

tax, and business consulting services. Contact us by phone at (949) 242-9852 at or by email at

info@ocbookkeeping.com to receive a free, no obligation consultation.