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How Denver Accountants can Help Your Small Business
June 8, 2016
Denver is an amazing place for a startup to grow and prosper into a large-scale operation. Small business owners are used to wearing many hats from helping customers, to marketing, to billing and purchasing, to sweeping up at night. Many think that hiring a professional accountant or bookkeeper is only a corporation or large business would do. Itâ€™s true that there are many tasks that a software program like QuickBooks can help with, but a full fledged accountant can do so much more than get your taxes done on time, they can actually help your business grow at a more rapid rate.
We're Number Geeks
You may groan every time you have to sit down and figure out a profit and loss statement, but we donâ€™t. Not just producing spending reports, but quantifying and extrapolating data are the thing that accountants thrive on. By bringing this data to life, we can help track spending trends, spot money saving opportunities, and possibly more efficient ways of doing things.
You Need A Plan
It is estimated that 8 out of 10 businesses fail and only about 50% of small businesses survive more than 4 or 5 years. Many businesses start with a solid idea, but end up failing in the end because they lack a plan for growth and sustainability. A good accountant will not just gather financial data, but use it to help you see the bigger picture and create financial forecasts, set goals, and budgets, creating a roadmap to success.
They donâ€™t Fear the Taxman
Tax season for small businesses isnâ€™t just in April; itâ€™s a year-round endeavor. Payroll tax, sales tax, property tax, itâ€™s a full time job in itself. You may be losing money every month by not taking advantage of deductions you donâ€™t realize youâ€™re eligible for. The tax code is several thousand pages and changes every year. Itâ€™s a reality that businesses do get audited, but we will make sure that your documentation will be well organized and we will be there to guide you through this stressful process. Once youâ€™ve been through an audit and your business practices have been found to be sound, chances of being audited a second time will be drastically lower.
Opportunities for Saving Money are Everywhere
We have a wide breadth of experience in all types of industries. We have seen systems that may have worked well for others that may be just the thing to save you money and help your organization run smoother. We may also be able to offer supply chain suggestions or broker negotiations that will grow your bottom line. Often business owners just continue to do what works because they are too busy to look for better alternatives and take an, â€œif it ainâ€™t broke, donâ€™t fix itâ€ approach. The benefit of looking at a P and L with a fresh perspective cannot be overstated.
Another of the top reasons that businesses fail is that they lose touch with the needs and wants of their customers. By letting us take over the far reaching duties of bookkeeping and accounting you can get back to what you do best and what you likely got into your business for, taking care of your customers. Call us at 303-321-7160 and letâ€™s start charting your plan for success today.