“With a staffing footprint of only a few attorneys why do I need a bookkeeper?” It’s a question I’ve heard a lot over the course of my career. Many lawyers who work in small firms don’t see the benefit of relying on external expertise to keep their books organized. Unfortunately, many of those same lawyers eventually come around to a different way of thinking only after something bad, or even catastrophic, happens with their accounts.
No business owner looks forward to a letter from the taxman requesting a closer look at the books.
If you’ve received an audit letter – an official request by the tax authority to review your
accounts and confirm your taxes have been paid to date – don’t panic. Prepare.
These four steps will help you get through the process with minimal stress and the best
possible outcome.
Last week, in our article about paper-based vs. electronic accounting systems , we mentioned cloud bookkeeping solutions. You may know a little, or a lot, about the concept of cloud technology. What you may not know, is that there are multiple cloud-based solutions for storing your bookkeeping data. You may also not know how these solutions can make your data safer, more accessible, and more secure. Read on below to learn more about the difference between cloud and local bookkeeping solutions.
