Top CPA Pauline Ho, head accountant at Laus Consulting in Orlando, FL, explains how to make the lives of small business owners easier. For more information please visit http://lausconsult.com
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In a recent interview, leading CPA Pauline Ho, head accountant at Laus Consulting in Orlando, FL, revealed how to make life easier for businesses.
For more information please visit http://lausconsult.com
When asked to comment, Ho said, “Good accounting practices are a crucial aspect of any business – regardless of its size. It’s important to implement good practices to ensure smooth day-to-day operations and to avoid common accounting pitfalls.”
One vital thing to keep in mind, according to Ho, is to stay current with invoices.
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“This means small businesses should take care in sending out accurate invoices on a regular basis. There’s no doubt that invoices are the crux of your small business as they inform your clients about payment. In other words, clients won’t pay unless they receive an invoice,” she said.
“An error on an invoice can cause any small business a headache down the line, so take the time to ensure that invoices are as mistake-free as possible.”
Ho further added that invoices are vital in tracking worked performed by a company, which will ultimately simplify the process of doing the books.
Another way to make small business accounting easier is through thoroughly tracking payments.
When asked to elaborate, Ho said, “When it comes to making big transactions or reimbursing employees for whatever reason, it’s important to keep close tabs on cash flow. You need to be able to clearly see how much is coming in versus how much is going out.”
Ho added, “Not having enough cash flow to cover these types of payments can wreak havoc on your business and can cause you unnecessary stress.”
Staying on top of taxes will help keep accounting issues to a minimum.
“When businesses fail to deduct taxes at the time of sale or during payroll, this opens the door to possible errors when tax season rolls around. You run the risk of either miscalculating how much you owe or making a mistake while doing your taxes – both of which could come with hefty fines and have a negative impact on cash flow.”
One of the best ways to implement sound business practices, Ho said, is through online accounting services.
“Moving your accounting system online not only helps save you time and energy that you could be using to grow your business but also provides the expertise of a seasoned accounting team. Furthermore, online accounting allows you to select how many services you’d like to receive depending on which stage of growth your business is in,” Ho said.
Ho was quick to add that “good accounting practices can help take a business far. They will help your growing business right now and also in the future as you plan to scale up operations and widen your profit margins.”
Source: http://RecommendedExperts.biz
Contact Info:
Name: Pauline Ho
Email: Send Email
Organization: Laus Consulting Services LLC
Address: 879 Outer Rd B, Orlando, FL 32814, USA
Phone: 407-401-9768
Website: http://lausconsult.com
Source: MM-REB
Release ID: 88902166
