Having sufficient cash on hand is a key to success for pest control companies, especially during volatile or uncertain times. One way to keep money in the bank longer, says PCO Bookkeepers Managing Partner Brian Post, is to negotiate better terms from vendors and use those terms to extend the time it takes to pay invoices.
The real issue is when an owner has built the company up and then hires a bookkeeper who may know how to use QuickBooks but doesn’t understand all of the reporting. So the owner thinks because QuickBooks is spitting out checks that everything is working, but their financial statements and their profit and loss is just a mess and they can’t really figure out how they’re doing. We see a lot of that. And then what’ll happen is they’ll take it to their CPA at the end of the year and he’ll have to make heads or tails of it. And usually that guy’s or gal’s view of accounting is to get a tax return done. A tax return is a small part of accounting.
Why would you get a tax deduction for a certain type of income? Learn about the Tax Reform’s gift to the small Business Person – Section 199A
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Learn more about the top 4 QuickBooks Tips and Tricks that will save time and give you better information to Grow your business