Fredrick James-Educating the Masses to Help You Save On Taxes

Posts Tagged ‘bookkeeping’

I’ve noticed there has been quite a lot written about finding a good accountant but most of it tends to generalize rather than offering detailed advice to help consumers base their decisions on. So I will do my best to keep it brief, but I will also aim to provide you with some meaty information that can really help you in choosing an accounting service for your business. I should mention here that this post is mainly geared toward business owners, but the same principles generally apply to individuals as well. I should also mention that this discussion is full of generalities when I describe the different types of accountants and accounting solutions available.

Waiting until tax time to hire your accountant / bookkeper / accounting firm is is akin to waiting until labor begins to choose the doctor who’s going to deliver your baby!

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So now that you have set up new AR policies what is to be done about the business’s that already owe you money? Well, now is the time you have to become resolute in your mission to preserve your business and take action to collect the debt owed to you. I won’t tell you this is an easy or pleasant prospect. On the contrary, you will be facing clients you may have worked with for years and this may be the first time you’ve ever had to deal with them being delinquent. Keep this in mind and approach the matter in a sensitive manner with the thought of preserving the relationship for future transactions if possible.

Unfortunately, you are looking at self preservation at this point and a line needs to be drawn. So, your first step will be putting your client’s account on hold until payment is received. You may want to offer to allow a prepaid account for future services and invoices so you know current services are covered while they are paying off their past invoices.

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So today is Tax Day and as the final return is filed, the last client steps out the door and we all sit back to congratulate ourselves on a job well done, it is also the day we launch our new Blog!

Because we are a progressive accounting firm that believes in utilizing the latest tools and technology to help us educate our clients and improve their lives, it was a natural fit to settle in here.

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