Rethinking Accounting as a Small Business Owner

We know that life as a small business owner can be crazy. What starts as a good idea slowly turns into a viable business, and before you know it, managing your financial matters has become…a lot more complex. 

It’s right around this time that entrepreneurs typically ask themselves: “What’s next?” or, “how do I keep growing this business?” 

Let us be the first to say that those questions and feelings are completely normal. We didn’t didn’t go into business to reconcile our books at month end, chase down unpaid invoices, or painstakingly compile that box of receipts, either. Mostly because those parts of business…just aren’t that much fun. 

But today, we’re here to tell you that things don’t have to be that way. And in fact, they shouldn’t. There’s an easier way to manager your financial matters, from Day 1 to tax time. And TrulySmall is here to help you every step of the way.

Trade-Offs Are Necessary (and Normal)

First off, when it comes to managing your finances as a small business owner, you should know that every decision you make involves trade-offs. “Free” bookkeeping options might be just that – but they also might be leading you to leave money, opportunities, or tax benefits on the table! And at that point, you really have to ask yourself: “is my free accounting system really free?” Even if you don’t know anything about accounting software, automated tools like TrulySmall Accounting will help you tackle your routine accounting in-house, so you can leave those ‘free’ tools behind. 

Manual Isn’t Better

Secondly, you might be thinking:  “I’ve been doing my accounting manually and that works for me!” Well, we would be the first to say: great! Implementing systems that work well for you is a crucial step to small business success. But implementing superior systems? That works even better! For small business owners like yourself, that’s where automated accounting should enter the picture. Automated platforms will help you do more with less, free up time to focus on the things you actually like doing, while also helping you avoid running yourself ragged at month-end. Talk about a win-win!

Is Having an Accountant Better?

Another objection we hear from small business owners, when it comes to accounting software, is: “I already have a professional accountant or bookkeeper.” So let us be the first to tell you that you are most likely needlessly running up the tab with your accountant if you do not come prepared with well-organized data and meticulously-kept records. And it is tremendously difficult to organize all of the information that you will need without automated accounting software like TrulySmall!.

The problem with this is twofold: first, accountants are there to help you add value to your business, not sort through your avoidably chaotic financial records! Second: accountants are expensive. So, this year, we encourage you to learn how to optimize your relationship with your accountant by investing in automated accounting software!

Another issue with outsourcing your accounting needs is that, when you really, desperately need visibility into your business’ finances, you won’t have it. Maintaining organized finances is tremendously difficult as a small business owner and requires a serious time commitment. So this year, give yourself some peace of mind by investing in automated accounting software. It’s the very least you can do for your growing business!

We realize that some of this might come across as hollow, or self-serving. And perhaps you are right, because we do want to sell you our software! But we also want to help small business owners, and in fact, we’ve helped thousands at this point. We’re passionate about driving efficiencies for entrepreneurs, making your life that much easier, and helping you free up time so that you can focus on the things you actually love doing.