MAXIMIZING YOUR STRENGTHS AND PARTNERSHIP WITH ACCOUNTING THERAPY
At Accounting Therapy, we like to consider ourselves the guardians of our clients’ financial galaxy. As our team grows, technology improves, and the needs of the small business owner change, we continue to add more service offerings to our repertoire. But, like most small businesses, we can sometimes be our own worst cheerleader and occasionally just find ourselves needing to toot our own horn.
That’s where this blog post comes in. We’re going to dive into the weeds of some of the smaller services we offer that can help make your life as a small business owner simpler…. Gasp! Did we really just say that?! Why, yes, we sure did. While that phrase may seem like an oxymoron, it’s not. Partnering with a team CAN make your life simpler, you just need to be strategic about what you want to get off your plate.
Focus on Your Strengths to Unlock Time
Consider this: You did not start a small business to run payroll, file sales tax, pay bills, collect accounts receivable, or reconcile bank accounts (unless, of course, you’re us!), right? And you certainly didn't envision spending your valuable time watching YouTube videos to figure out why said bank account reconciliation is off by $1,672.30. You can fill in the blank at the end of that sentence with whatever your Achilles' heel task is in your business. But what if you outsourced it? What is the value of your time? More importantly, your BRAIN POWER? If you can free up that mental space to do something else… to create something else… to dream of something else… where does that space allow you to go? How much farther can your business soar? How much more profitable could you be?
We were having dinner with a friend the other day and discussing maximizing strengths. To give context, this friend excels in her field and independently sells over $500 million in projects annually as a contractor for a small business. During our discussion, she shamelessly admitted that she does not know how to read a profit and loss statement, in fact doesn’t even know what it looks like... not a clue
Our mouths dropped. She sells how much? And doesn’t even know how to look at a P&L? We were floored. How could this super-successful human be so… super successful?
The Answer: She maximizes her strengths. She puts all her eggs in her BEST basket. She acknowledges she COULD learn these unknowns, but why? They are not her inherent, universe-given talents. Instead, she leaves the tasks she isn’t great at to others.
She maximizes her time by doing the things that; A) she loves, B) she’s great at, and C) yields the most return on her TIME.
Read that again. Yields the most RETURN ON TIME. Marinate on that for a minute.
So, the moral of the story, dear friends, is that while it may fell a little daunting to outsource mundane tasks that only consume an hour each week or a couple of hours a month (not counting the time you spent on YouTube fixing what went wrong), it may not be as frightening as it seems. As a bonus, you will be less stressed, have more mental resources, and can spend your time doing what you started your business to do. What you ENJOY doing. So how ‘bout that sports fans?!
Alright, alright, we'll stop evangelizing now; story time is officially over! Join us as we highlight some of the lesser-known tasks our team can handle, allowing you to focus on what truly matters to your business.
Outsourcing Your Systems and Processes
Now that we've delved into the concept of maximizing your partnership with Accounting Therapy, it's time to chat through some of the stellar add-ons that we believe can help propel your business into orbit.
- Streamline Sales Tax Management:
Let us handle sales tax processing, payments, and even those pesky prepayments, to ensure compliance. Added benefit? We’ll unburden you of those cumbersome deadlines and the worry of late fees and penalties.
- Efficient Finance Management:
Our team can assist with accounts receivable, accounts payable, and cashflow management. Let us help optimize your financial operations and get a grip on where your money is and how you are spending it.
- Simplified Payroll Processing:
Payroll – the financial black hole for many businesses. Let our team step into processing payroll accurately and efficiently for your team. We are equipped accommodate multiple payroll schedules, time approval processes, etc.
- Strategic Collaboration with CPAs:
Ever wish you had an interpreter when meeting with your CPA? Or maybe you just need a co-pilot to navigate a few questions? Either way, our team can join you in those meetings to ensure your extended financial support system stays on the same page and prevents you from playing monkey in the middle.
- Integrated QuickBooks Merchant Services:
Take advantage of built-in merchant services directly integrated with QuickBooks. Say "adios" to the hassle of outside payment processors and double entry, and hello to streamlining your payment workflows. Not sure about that last part? Our team can guide you through optimal workflow options to ensure you’re getting paid by your customers ASAP.
Plus, sign upthrough us and you’ll receive a discount on credit card processing fees! Interested?➡️ Click here!
Integrated Time Tracking + Payroll
You don’t even need our team to outsource this one, QuickBooks has built it for you! Of course, we’ll be here to help you onboard, provide training, and manage every step of the way, if needed. This is a biggie, so stick with us as we break it down!
When you pair Intuit’s time tracking app, QuickBooks Time, with QuickBooks Payroll, you unlock a whole slew of possibilities in the QuickBooks Online realm. For starters, the two modules sync flawlessly, allowing you to approve time and process payroll with a few clicks. Need to track employee accrued vacation? No problem. Integrated 401(k)? You got it. Automated payroll tax payments? Donezo.
But let's take it a step further... your team tracks time by customer, and you bill said time to a customer. QuickBooks Time allows your team to easily select a customer in their time tracking app and determine whether it’s billable. Then, QuickBooks Online allows you to bill that time entry to your customer at a pre-determined rate.
And what’s that? You’d like to track profitability by client and your team’s time is a big component of your cost of goods sold? We’ve got you. When you pair QuickBooks Time, QuickBooks Payroll, and QuickBooks Online Plus or Advanced, team time entries can flow through to customer project reports that tell you profitability with quick visual snapshots and integrated reports.
Hopefully we didn’t lose you there, we can get a little excited about this one! If this seems up your alley, let our team walk you through a QuickBooks Time, QuickBooks Payroll, & Project Costing demo to see what you’re missing out on!
Ready to jump for one of these apps? Well, we’ve got the best discounts in town so, give us a click & fill out a form using one of the links below, we’ll outreach to give you the details.😉
QuickBooks Support Plans
Interested in working with us but don’t want bookkeeping services? No problem! We created support plans for clients who need a second eye on their financials but don’t want the whole shebang.
To start, we discuss your objectives and conduct a thorough assessment of your business operations so that you receive the precise support that you need.
All service plans include:
- Custom answers to your unique circumstances.
- In-app access to our team for prompt and convenient resolutions for your questions.
- Regular QuickBooks File Reviews coupled with comprehensive discussions.
- Remote support for unrivaled efficiency and ease.
- Optional Year End Services for tax preparation and tax reconciliation.
Depending on your level of experience with QuickBooks, we offer three plan levels at different prices.
- Major Plan - Designed for QuickBooks users who are managing a larger, more complicated QuickBooks file, or the person managing the file is still learning how to work in the program.
- Moderate Plan - Designed for QuickBooks users who have a consistent routine within their QuickBooks file and only need support for the uncommon issues that may arise.
- Minor Plan - Designed for QuickBooks users who are confident in their QuickBooks file and processing abilities and only need support for rare issues that may arise.
Wherever you stand, we will be with you every step of the way, guiding you through the cosmic QuickBooks maze. Check out these Support Plans in more detail.
So, we challenge you to take a minute. What can you outsource? Maybe it’s none of these things. Maybe it’s all of these things. Take a look at your task list and delegate at least one thing, whether it be to us, your team, or your cousin. Something you don't love doing or maybe it isn't your universe-given strength. Then, go do more of what IS your universe-given strength and maximize the heck out of it. 😊