As the business grows and becomes more complex, even if you have the capability to effectively monitor your financials, it becomes questionable whether you have the capacity or if this is taking you away from growing your business. Mistakes happen and oftentimes transactions are coded incorrectly and therefore your assets and liabilities will report the wrong results.
- How do you know if your book keeper or accountant is doing a good job and their work is accurate? Do they explain the numbers so that you understand?
- At the end of the tax year your Accountant usually provides a list of journal entries – what do they mean and what should you do with them?
- There are also other ways the numbers could be coded for tax and R&D purposes and you could be missing out on opportunities to grow your business.
Sometimes experience really does count. As specialists with substantial experience in forensic accounting for 100’s of small businesses we know what to look for, the questions to ask, and will relay this information in your language to help you gain a clear picture of your business.