With the holidays right around the corner, many of us see presents, much-needed R&R and perhaps a nice vacation in our near future. But, as small business owners, there are many areas we must strategize before year-end, setting ourselves up for a great new year ahead.
While there are many things we can do, here are three pressing tips to pursue before year-end so that you and your business can not only grow and reach your potential, but also set the foundation for a brighter future.
Tip #1: Use a payroll system that utilizes 21st century technology. With year-end fast approaching, now is the perfect time to find a payroll system that delivers and elevates your business.
You probably know that we do bookkeeping, but did you know that Sound Business Services also specializes in handling your payroll? That’s right – whether it’s setting up accounts, getting employees on-boarded or running payroll on a regular basis, we’ve got you covered. And, our go-to payroll app is Gusto.
Gusto is super easy and super efficient; in fact, Gusto found that 72 percent of their customers spend five minutes or less running payroll. With the power of Gusto and the knowledge and experience we have at SBS, you will enjoy a much more streamlined, efficient process that saves you time, allowing you to do what you do best – run your business and help it grow.
Through this combination, you will enjoy many benefits. For example, employees can track their paid time off online. You also can enable self-onboarding, where you simply send employees a link to put everything in, creating a much more secure, efficient process that’s void of errors. On top of that, the payroll platform puts you in control as the small business owner. You have your staff’s login to see their pay stubs and W-2s, updated contact info and withholdings, and much more. Gusto also has a very streamlined way of offering health insurance.
Of course, we can help you migrate to Gusto and make sure you get the most from the app and our expertise. Let us know if you have any questions or want to get started!
Tip #2: Embrace the cloud. You may have heard me say it before, but simply put, the cloud is a must for small business growth and success.
With the cloud, you receive numerous benefits, including anywhere, anytime access, a complete transformation in team communication and success, and paperless time tracking, where you no longer have to sort through those pesky receipts piling up on your desk, allowing you to complete tasks and meet deadlines much more efficiently.
This is all possible because of the powerful integration of QuickBooks Online (QBO) and the amazing number of apps that integrate with QBO. If you’re not on QBO, you must take the leap of faith and watch your business soar! Of course, we will be with you every step of the way. And, as far as apps go, there are so many, but let’s touch on a couple of our favorites.
One app we love is MileIQ. With year-end in mind, mileage tracking is so important. With MileIQ, you can track your mileage in real time by simply setting up the app. So, whenever you’re on the go – perhaps to your next business meeting or delivering something to a customer – your miles are tracked, making our job and your reporting so much easier. Features include automatic tracking, reporting at your fingertips, and the ability to give your route a specific name to clarify if it’s for business or personal.
Another app is Bill.com. As a bookkeeper, I can truly say that this is an absolute blessing. Through Bill.com, we are able to bring you a consistent billing strategy, as well as automate your accounts payables and receivables.
Of course, there are so many more apps to choose from, and SBS will make sure that you get the apps that work best for your specific business. So, don’t hesitate to reach out to us today.
Tip #3: Committing to a forward-looking approach in your business. As small business owners, one of our biggest challenges is finding time to work on our businesses rather than in them. But, it doesn’t have to be that difficult – in fact, you can transform your business in a short amount of time.
At SBS, one of our biggest goals is helping you do this and getting you the information and strategy you need to not only skyrocket to business success, but also live the happier and healthier lives you deserve.
That starts with KPIs, or key performance indicators. When it comes to accounting, so many businesses are focused on the past. But, the key to growth is utilizing past data to look forward and make changes. With KPIs, we are able to do this, finding all the important information and data we can to help you grow your business and reach your goals.
We will have monthly meetings with you, going over monthly projections and budgeting, discussing trends, celebrating successes, and learning from mistakes.
We are Here to Help
We know that being so close to the holidays, it’s tempting to envision family time and rest and relaxation, and put off our businesses. But, as small business owners, we are doing ourselves an injustice if we don’t progressively plan for a strong year-end and a great year ahead.
We also know that a lot of this can be overwhelming, but don’t worry because we are here to help every step of the way.
So, if you’re ready to implement this trio of tips for year-end, or simply want to discuss any of them, contact us today. You’ll be on your way to a strong finish to 2018, more peace of mind heading into your holiday and a brighter 2019!