Hiring PRIM Bookkeeping is the best decision you can make if you are running a small business!
If you're a small business owner, whether you're just starting out or have been in business for years, chances are you've dealt with the same problem: keeping your finances in order.
It is certain that there are days when you have to check your payroll and your taxes multiple times just to make sure that your records are on track. Doing this by yourself can be really time-consuming and overwhelming especially when you don't have a plan in place.
So try asking yourself this: Do you really want to waste your precious time and energy juggling receipts and bills all day long?
If the answer is no, then, you may want to team up with Maggie Morris! She will handle all your books for you so that you can spend more time running your business and making your customers happy. You won't even need to worry about your budget because she will provide you with the most affordable yet outstanding bookkeeping services that are profitable for your business!
About Maggie
Maggie is the owner of PRIM Bookkeeping which is a boutique-style bookkeeping service. Her business is located in Bridgewater, New Jersey, but she provides virtual service to anyone across the United States.
She mentioned that she has two goals for her clients:
- To be the extension of her client’s business and deliver accurate and tiny financials to accommodate cash flow profitability and growth.
- To help her clients do what they do best.
She said that she has spent years working with clients who are often busy selling, networking, managing employees, or doing multiple tasks as they are usually the ones who need help with keeping their records up to date. She mentioned that these specific clients come from large industries, designers, franchises, dental practices, psychologists, IT, farm contractors, and even CPAs.
She also ensures that she’s able to establish good relationships with them because it allows them to trust her in handling their records. “It's important to trust the person that handles the finances because a lot of times they'll see a lot of personal stuff”, she added.
Additionally, she said she has been working with Quickbooks and other CRM systems for over 16 years. She also has experience working with a variety of payment or invoice submission systems, thus, she will be comfortable using any software that your business uses.
“Sometimes I have a few clients that I have access to the CRM. I really don't need to speak to anyone because I already know what's going on, so I just send them monthly reports.”
Maggie believes that any job is worth doing no matter how small it is. So if you need help with simple things such as setting up your files, she will be pleased to teach you how to do so. If there comes a time when you're too busy and need help managing your books, she'll be happy to do that as well. You can truly trust and depend on her because with all the clients she worked with, she was able to successfully take away heavy workloads from them.
PRIM Bookkeeping Services
Maggie stated all the services that she can provide you:
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Notary Public
Maggie also provides a notary public service that is actually free. The reason why she became one is that most of her clients come from big construction companies that need their documents (AIA billing format) to be notarized for payment.
The Importance of Bookkeeping
Maggie mentioned six reasons why bookkeeping is very important to any business owner:
- Bookkeeping is the foundation and the backbone of every business.
- Without a solid set of books, you don't know how much income you are making, what your sales are, what your expenses are, and what you're spending on wages or subcontractors.
- It will give you an idea if you need to spend more money on advertising or not.
- It will serve as a reminder if you need to cut costs or not.
- It will give you a sense of how much you should set aside for estimated taxes.
Why it’s important to keep your books complete and accurate:
- Lack of bookkeeping records loses deductions
This is a case that she got from an American association of professional bookkeepers where a small remodeling and construction business chose to file an S Corp for tax returns. However, the IRS denied all the deductions because they didn’t have the proper bookkeeping. The only records they have was a bank statement and QuickBook records for their expenses.
If you also have a car for personal and business use, it’s important to keep your mileage logged to be able to deduct it. In this case, the vehicles were used for the trips and work sites but they weren’t able to log the mileage, thus, it is not deductible.
- Poor records lose new-biz deductions
Another case was from an Uber business that leased some cars to drivers. They weren't able to keep records of receipts of clients who paid in cash and as well as in check. That only means they couldn't take advantage of deductions of any of it because of their poor records.
Maggie’s Suggestion:
“The bottom line of this is to keep your receipts. There are a lot of hidden fines and interest that you don’t want to be paying. You don’t have to keep it all, So it’s best if you can take a photo of your receipt, create a folder, upload it, and make sure to keep all your records.”
KEY TAKEAWAYS
As Maggie mentioned, it's best to keep your receipts and your business records straight and up-to-date. If you aren't sure how to go about doing this on your own, hiring a bookkeeping service like PRIM Bookkeeping can be the best option. A professional like Maggie can not only help with the day-to-day keeping of books, but she can also help you set up the most beneficial processes in place for the long term. Ultimately, hiring her will be worth it for your company. She will save you your time and money down the road.
Q&A
Jessica: Do you have a maximum number of employees that you manage when it comes to payroll? How does that work?
Maggie: No maximum, no minimum amount. If you need my service, we'll discuss your needs. And if you already have a provider that you use or we need to choose one, I will go over the pros and cons to help you with the pricing. I also generally work on a monthly flat fee. I don’t charge per hour because I know my clients are on a budget. As far as you have any documents that you need or any setups you need with payroll, I will help you with anything that you need.
Jacob: Do you do group rates for people who have more than one business?
Maggie: If you own more than one business, it depends on how much is involved in any business but we can negotiate things. It is so important to keep your receipts so that you don’t have to look for things just to prove to the IRS that the deduction you took is actually a real deduction.
ABOUT MAGGIE MORRIS
Maggie Morris is the owner of PRIM Bookkeeping LLC which has been helping small businesses keep their financials current and accurate for the last 16 years. They specialize in service industries, designers, gyms, dental offices, therapists, franchises, construction, HVAC, and cleaning companies.
So if you are a small business owner who is on a budget and are looking for exceptional bookkeeping services, reach out to Maggie to learn more!
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