What Value Do QuickBooks ProAdvisors Add To Small Businesses In St. George, UT?
Every person in your organization should contribute to furthering your business goals.
So how does the QuickBooks' ProAdvisor fit into this picture?
Compliance: Businesses and/or their owners must pay income taxes, sales taxes, payroll taxes and comply with all other laws. And depending on the unique circumstances there can be many other forms of compliance. For example, a painting business may have to carefully track dangerous supplies and their location or a fiduciary may need to account for a Trust account. The ProAdvisor can set up QBO for compliance.
General Accounting: In any business, money needs to come in and go out i.e., revenues need to be earned and bills need to be paid. This is the most fundamental application of QuickBooks and something that is second nature to the ProAdvisor who works with QuickBooks every day.
Retrieving Non-Financial Statement Information: An accounting system contains a lot of information that is not directly related to the actual debits and credits. Often ownership may want information that is outside of the financial statements. For example, they may want to know how often inventory turns over. The ProAdvisor is skilled in obtaining this type of information.
Training: The best accountants and owners still must learn the nuances of any system. And even though QuickBooks is designed to be easy to use, there are still complexities. The ProAdvisor “knows where to click” and can teach this information.
Help to Save Costs: Accounting as a professional field is acutely aware of saving money. Busy business owners may not have the time to calculate and realize the huge savings of taking advantage of early payment discounts or job costing and its monitoring of employee time. But the ProAdvisor can do the legwork and simply get the owner’s permission to take action to save money. Of course their are fees for the ProAdvisor but these are usually a small percentage of potential savings.
Reliability: Banks, employees, and partners will all appreciate the reliability of financial statements produced through a system with controls. The users of financial information want to know that the information is reliable. Banks want to know that net income is correct, employees want to know their paychecks are correct, and partners want the correct share of equity.
Business Planning: Owners simply cannot plan the future of their business without the right information. ProAdvisors can set the system up such that it provides the needed information.
A good ProAdvisor will make sure the accounting is done correctly and that QuickBooks is utilized properly. A great ProAdvisor/accountant will do both of those things and also function as a valuable asset for the owner to rely upon.
When an accountant merely does bookkeeping and software support an owner may correctly see the fees as an expense. However, when an owner can rely on an accountant and see a return, then the fees are an investment and the owner can look for a return on their investment - and we call this “ROI accounting.” And that's how we got our name.
As always, call us if you have any questions.