There’s a big difference between not enjoying accounting, and just not being good at it. If the latter is true for you, admit it, and get professional help. No, not that kind of help, although that may come in handy on those particularly hectic days in the life of a small business owner. For now, hire an accountant. Yes, it will cost you. But just think how much a horrible accounting error might cost you, and your business. If, on the other hand, you’re not too bad with accounting, but the thought of doing your business taxes is enough to send you into nervous fits, consider at least hiring a tax consultant.
Before you trust someone with your books or taxes, though, check in with other business owners for recommendations. Accounting site communities and business networking sites are a great places to find tips for hiring a tax consultant or accountant, and should be your first stop before you start seeking quotes.
As a business owner, if you decide to do the accounting yourself, you’ll need to get organized. Keeping a bunch of receipts in a shoe box , and writing expenses in a notebook just won’t cut it. If you’re still doing your accounting this way, you may want to consider using QuickBooks. QuickBooks is the #1 best-rated small business financial software and enables you to organize your financial transactions, track revenues and expenses, create custom invoices and sales receipts. All of this makes tax time a whole lot easier. You need to take out the corporate checkbook and buy QuickBooks that best suites your business needs.