Many small business owners find bookkeeping to be the most challenging part of entrepreneurship. Not only is it time-consuming, but unless you’re a trained accountant, it is also easy to make costly financial mistakes. When Gig Harbor, WA, companies need help with accounting, they turn to Linda M. Shiraiwa CPA, PS.

Below, she explains three common accounting problems that hurt small businesses:

• Trying to Manage Payroll In-House: Handling payroll on your own is a laborious process, especially during tax time. Once you factor in the value of your labor, it also becomes expensive. Entrepreneurs often find they save time and money by outsourcing this responsibility to an accounting firm that offers payroll services.
• Failing to Maintain Regulatory Compliance: The tax code is complex, difficult to understand, and constantly changing. This makes it difficult for small business owners to maintain regulatory compliance. Rather than risk the chance of incurring costly penalties, enlist the help of an accountant with experience in commercial tax preparation.
• Poor Bookkeeping Practices: Entrepreneurs handle a plethora of documents during the course of their small business operations. It’s often difficult to know which ones to keep and which ones to discard. Moreover, it’s easy to lose track of important financial records. Ultimately, poor bookkeeping practices render you unable to determine the true financial health of your business, which increases the likelihood you will violate government regulations. A CPA will have the experience and industry knowledge to keep your books in good order.

For more information about how professional bookkeeping services will benefit your small business, contact Linda M. Shiraiwa CPA, PS. She will provide you with the expertise and individual attention your business needs to maintain your financial records. Call (253) 858-6030 to schedule a consultation, or visit her website to learn more about her wide array of accounting services.