CFO Consulting Services, A CFO Services Company, Explains the Advantages of Smart Bookkeeping

Bohemia, NY (PRWEB) October 18, 2013

Lawrence Teicher, founder of CFO Consulting Services, responds to an article published by Entrepreneur on September 17th, which lists five methods that can help small businesses control bookkeeping.

According to the Entrepreneur article titled “5 Easy Ways to Take Control of Bookkeeping Without Wasting Your Time,” bookkeeping is an easy, yet important, part of business. However, it can become a time-consuming mess during tax season if neglected throughout the year. To prevent a tax season nightmare, small business owners should develop a persistent strategy for their bookkeeping needs.

The article promotes five strategies for maintaining bookkeeping, they are as follows: learning QuickBooks yourself, hiring a family member, bringing someone ‘in house,’ using your CPA for bookkeeping, and engaging a local bookkeeper. With tax return season around the corner, now is the time to make the decision to hire a local bookkeeper to prevent the headaches, stress and frustration associated with last minute bookkeeping.

Lawrence Teicher, founder of CFO Consulting Services and prominent Long Island CPA, says bookkeeping is where many small businesses make their mistakes. “Bookkeeping is essential for the survival of any small business,” he says. “It’s important for a business to know where money is being spent, where it’s being wasted and what needs to be paid. However, just because you start a business doesn't necessarily mean you are an expert in finances and accounting. In fact, many businesses make mistakes while bookkeeping themselves. Hiring a part time CFO or CPA can really help get a small business on track for tax and budget season.”

Teicher also says accounting programs like QuickBooks can also be beneficial. “If a company needs a robust, yet inexpensive accounting solution QuickBooks could suffice to keep track of the money flow,” he says. “Though QuickBooks is a do-it-yourself system, sometimes it can be a bit difficult to learn and inexperienced users may have difficulty setting up a Chart of Accounts appropriate for their business. As a Gold Certified QuickBooks Pro Advisor, CFO Consulting Services helps business owners take full advantage of the features available within QuickBooks.” CFO Consulting Services also assists businesses implement more complex ERP solutions as well.

CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.

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