Monthly accounting is one of the most strategic investments you can make, but it still has some limitations.
We like to say that it’s protein powder – not a Band-Aid. Let’s talk about what that means!
At CSI Accounting & Payroll, we’ve provided monthly accounting to small businesses for nearly 60 years. That means we’ve spoken to thousands of prospective clients about their expectations of our service, answering questions like:
- What can monthly accounting do?
- What can’t monthly accounting do?
What Monthly Accounting Can Do
Remember our metaphor, “Monthly accounting is protein powder – not a Band-Aid.”
First, let’s talk about the “protein powder” part. Protein powder can slightly improve your health on its own, but it gives the best results when activity is applied.
That means before you hire a monthly accounting service, you must be willing to grow your business. You’re going to receive a lot of insight, but you’ll get the most benefits when you apply it to business decisions.
- Monthly bookkeeping & account reconciliation
- Monthly financial statements
- Proactive monthly advice, plus extra communication as needed
- Audit representation
- Tax strategy, preparation, & filing
Want a better idea of everything you can expect from your accountant (as well as your role as a business owner)? Learn more here!
What Monthly Accounting Can’t Do
The section above touched on the “protein powder”, so now let’s talk about the “Band-Aid”. Monthly accounting is not a Band-Aid, meaning it isn’t intended to help with a healing process.
It’s a common assumption that since monthly accounting can benefit many small businesses, it can help all small businesses. That’s not true. Other misconceptions about our monthly accounting service include:
- Expecting full results without opting for the complete monthly accounting package. (That means bookkeeping, year-round tax strategy, business tax filing, and owner tax filing.)
- Believing that using monthly accounting guarantees increased profits.
- Assuming you can be hands-off and still see significant outcomes.
Essentially, if your business is in trouble, monthly accounting alone won’t solve the underlying issues.
If you’re struggling to pay your bills, it’s not the right time to invest in monthly accounting. Similarly, if your books are a mess but you think you can’t get back work done right now, it’s also not the right time for you to look into monthly accounting.
Not sure if you’re ready for this kind of investment? Here’s what businesses that are a good fit to work with CSI for monthly accounting look like.
Exercise Your Business With Monthly Accounting!
Now that you know about what monthly accounting services can and can’t deliver, are you ready to check out ours?
To see if we can be a good fit for your business, click the button below for a free consultation:
Not ready to talk? That’s okay! First, learn more about what it’s like to work with us by clicking the image below:
