How do very small businesses or Sole Proprietorships go about accounting and all quarterly and annual dues that they owe to the state?
Your business is your focus, not all the paperwork required by the government. No matter how small, every business needs accounting.
Partnering with a small accounting firm can be N times more economical than hiring full-time accountants.
I have seen so many innocent small businesses get so busy that they forgot to file that annual franchise no-tax-due report for 2 consecutive years and almost lost their legal good standing with the state. It takes 2 minutes but has to be on someone’s TO DO list if not yours. Not to mention huge penalties they will incur if quarterly sales, payroll or annual franchise taxes are not filed in time.
Here is where regular daily bookkeeping comes into play. At Krushnaakash, daily bookkeeping is just the tip of the iceberg, getting your foot in the door, while we place those hooks and catchers so that your business never misses a monthly, quarterly or annual event, and no expense or income source falls through the cracks.
This is because technology is our backbone, your security and privacy are the 2 wings. We always walk that fintech bridge. Your bank feeds are always real-time and your books are never out of sync because technology keeps them synced up. QuickBooks Online enforces accounting workflows which helps your other departments as well. It integrates very well with a variety of cloud applications without sacrificing security and privacy.
Regular accounting , especially when delegated, can give you tremendous peace of mind and year-end taxes are then just a click away. Literally.
