How Saying Less Could Lead to More Sales

Do you spend much of your marketing efforts composing countless pitches that you disperse to current and prospective clients?  While you may find this enables you to attract business here and there, a more efficient approach may be found in composing the pithy pitch-a promotional piece designed to break marketing conventions by driving to the point more quickly while demonstrating your professional value.  In his article entitled “Ditch Your Desperate Marketing,” David Seaman gives a few pointers in creating the perfect pitch:

1.   Stop groveling

Please!  Stop begging for business.  You may think it earns you sympathy while creating a small-town image of another business suffering from the recession.  It just makes your business look pathetic.  No one’s going to retain your services simply because you’re down and out, needy, or on the brink.  They’re going to retain your services because you’re good at what you do and you do it often.

 2.   Exude confidence

Akin to number one, when you believe that your services enhance a client’s business you’re able to promote your practice without begging or apologizing.  Recognize that you offer incredible value to each and every prospect you encounter.  Knowing that will enable you to exude confidence, thus convincing your contacts that they can trust you with their finances.

 3.   Change your purpose

Consider changing your focus from closing the sale to providing indispensible information.  Seaman explains, “…rather than send needy static pitches, send out carefully written pieces of advice that are likely to be circulated forever… Instead of writing primarily to close the sale…, write primarily to impress and excite the reader.”  While his focus here may be on promotional newsletters, it’s a tip that could be applied to practically any marketing technique.  Also, when you’re able to share practical information with a prospect, your professional value increases.

 4.   Eliminate wordiness

We’ve all encountered sales pitches that go on and on and on.  We’ve also read promotions that say the same thing two, three and even four times.  Trust your readers to be smarter than the average consumer; compose pointed and concise pitches.

 5.   Take your time

It’s okay to take time to craft a thoughtful and well-rehearsed sales pitch.  In fact, you may consider sharing your pitch with experienced consumers-your family and friends.  They can provide helpful feedback that will enable you to revise and hone your promotion until it’s pitch-perfect.

While your sales pitch shouldn’t fit inside a fortune cookie, you may find that a more pithy approach is a much more effective use of your time.  By applying the above tips, you’ll quickly discover how less can indeed mean more.

The Professional Bookkeeper’s Guide to QuickBooks

Sometimes enhancing your sales pitch can be as simple as enhancing your service offerings.  We’re guessing you’re already aware that nearly 80% of small businesses use Intuit’s Quickbooks software.  While other programs may be useful, Quickbooks has definitely captured the small business market.  Learning Quickbooks will not only help you keep more efficient records, but it enables you to teach your clients how to use the software so that you can get the information you need, making your job much easier.  UAC’s Professional Bookkeepers Guide to Quickbooks will enable you to work more efficiently by using all the features and shortcuts this software offers.  Add to that your ability to add QuickBooks consulting, setup, and help services to your menu, and you have a risk-free venture.

Take advantage of this opportunity to increase your efficiency, your bottom line, and your sales pitch by enrolling the in the Professional Bookkeepers Guide to QuickBooks today!

Resources

Seaman, David.  “Ditch Your Desperate Marketing.”  22 July 2009  Entrepreneur.com

Focus more on your desire than on your doubt, and the dream will take care of itself. You may be surprised at how easily this happens. Your doubts are not as powerful as your desires, unless you make them so. — Marcia Wieder

The term “overachiever” generally has a negative connotation.  Some talk of overachievers as workaholics with no personal lives to speak of, while others imagine annoying professionals that are somewhat arrogant and a little too full of their own accomplishments.  However, Webster defines “overachiever” as “one who achieves success over and above the standard or expected level especially at an early age.”  If that’s the case, I’m guessing most of us wouldn’t mind becoming overachievers, again and again and again.  But what does it take?

1. Recognize your passion

Truly successful athletes can practice their sport for hours because they become lost in the game.  Some describe it as finding their groove, getting in the zone, or achieving “flow.”  This is a somewhat magical experience where skills are heightened and physical limitations cease to exist, as does time.  This same thing can be experienced by professionals who truly find their passion; they can achieve “flow” by working optimally while losing track of time because they simply enjoy what they’re doing.  If this is a common occurrence at your practice, then you’re on your way to becoming a true overachiever.

2. Recognize the tedium

It’s common to experience boredom every now and then, regardless of how passionate you may be about your work.  There’s always paperwork to be filed, reports to be run, and tasks on your To-Do list that don’t inspire.  However, that tedium should not consume your day.  If that boredom causes you to dread going to work each day, it may be time to reevaluate your career choice and point yourself in another professional direction.

3. Stay a little longer

In his Entrepreneur.com post entitled “5 Tips to Become a High-Achiever,” Scott Halford  shares this tip in outlasting, outsmarting and overachieving the competition.  He explains that in 1984, when Peter Vidmar led the US men’s Olympic gymnastics team to gold, the one thing Vidmar did differently from everyone else was stay and practice a little longer.  In order to become the premier accountant in your area you must do the equivalent.  Read that extra article, participate in that specialized training, call that one last client.

4. Focus your energy

As a child you may have focused the sun’s energy through a magnifying glass in order to start a small flame.  When you focus your own energy in the same way, you can accomplish great things in your professional life.  Try not to get bogged down by the tedious and unnecessary.  That’s distracting and will limit your potential.  Continually focus your energy on the big picture and where you want your business to go.  You’ll be amazed at how this alone will magnify your practice’s success.

5. Take action

You’ll never accomplish anything if you spend all your time just thinking about it.  Overachievers act again and again.  In fact, after a time it becomes a habit-creating business strategies and then acting on them.

6. Continually improve

The truly successful recognize the need to continually improve their skills which enables them to maintain that competitive advantage.  Seek opportunities to become the expert in your field.  It’s impossible to have too much expertise.

UAC’s Training Can Help

The Professional Bookkeeper (PB) Program is just the course you need to hone your skills and become specialized in small-business accounting, the most lucrative market for contract accountants.  In less than 60 hours you can learn everything you need to know to start your own accounting practice or improve the one you’re currently running.  The time is right to overachieve.  Take action today and enroll in UAC’s Professional Bookkeeper Program.

Resources

Halford, Scott.  “5 Tips to Become a High-Achiever.” 29 June 2009  Entrepreneur.com

When you brand your business, you make it easily identifiable by all prospective clients.  When used effectively, branding is a great marketing tool.  You can either brand your business strategically or let it happen by accident.  We suggest you take deliberate steps to brand your practice in order to get more positive exposure.  Here are 6 ways to brand your business like a super star:

1. Website

Competitive businesses have professional websites.  If you don’t have one, you should invest in one soon.  Current and prospective clients appreciate learning more about your business and your services through a reliable website.  You want your business to stand out from the competition, and this is one way to do that.  Ensure that your business name, logo, and mission are clear.  These characteristics will typify your brand and make it recognizable.

2. Memorable Numbers

Scott Gerber, author of a recent post on Entrepreneur.com, suggests using vanity numbers in order to better brand your business and make your practice more memorable.  It sounds campy, but many businesses are memorable because their phone numbers are impossible to forget.  1-800-account is easy to recall long after a prospective client sees your advertisement in the phone book or hears it on the radio.

3. Automated Phone System

Gerber also suggests getting an automated phone system.  Using toll-free numbers and virtual assistants, your small business will sound like an upscale, big business.  Even though you may be working from your home office, when using an automated phone system, your current and prospective clients will imagine a more professional storefront.

4. Business Card

Every professional recognizes the value of a business card, but have you used your business card as another means to fortify your brand?  Like everything else about your accounting practice, your business card should stand out and make a memorable impression.  Use color, high-quality paper, and even size to differentiate your business card from the rest; the cost will be well worth it.  Also remember to carry your theme (logo, slogan, etc.) throughout your business card as well.

5. Corporate Overview

In an article entitled “9 Branding Tips for Small Businesses,” Nick Rice suggests creating a corporate overview to leave with all prospective clients.  This one page document shares your mission, your target market, your service benefits and your contact information.  This will provide individuals with something to which they can later refer.

6. Community Participation

Rice also suggests participating in community events to gain more visibility and to solidify your reputation as a business owner interested in supporting local residents and services.

Branding is just one way to promote your business.  And if you want to grow your accounting practice, you’re probably interested in other, more effective ways of attracting new clients.  Unfortunately, many accountants and bookkeepers are unaware of how to market their services effectively.  That’s why, for over 25 years, Universal Accounting Center has been training professionals like you how to promote their businesses.  The Universal Practice Builder program will train you in the following (and much more):

• Increasing your annualized billings by $30,000 within the next 12 months
• 12 proven marketing strategies that will increase your client base
• Techniques that can generate 15 to 25 qualified leads per month
• Creating your own customized marketing plan
• Effective phone marketing techniques

In a matter of hours, you will know exactly what you need to do to grow your business.  Advance your accounting practice to the next level and become the premier firm in your area.  Enroll today!

Resources

Gerber, Scott.  “Look Like a Multimillion Dollar Brand.” 16 April 2009.  Entrepreneur.com

Rice, Nick.  “9 Branding Tips for Small Businesses.” 24 January 2007.  Smallbusinessbranding.com

5 Tips in “Thriving” an Economic Recession

Many would agree that there’s no question we’re currently experiencing an economic recession.  That has many small business owners panicking as they worry about the longevity of their businesses and livelihoods.  Entrepreneur.com’s networking guru, Ivan Misner, has written a blog series entitled “I Refuse to Participate in a Recession” where he examines how business owners, in changing their perspectives, can thrive, as opposed to survive, an economic recession.  This week we will examine five tips designed to help you change your experience with the current economy.

1. Assess your internal dialogue.

How you experience the economy has more to do with what you’re telling yourself about it than it does the statistics, the news forecasts and the bailout proposals.  If you have determined that things are bad and they’re only going to get worse, for both the nation and your business, then chances are they will-not because that’s what’s destined to happen, but because that’s what you believe will happen.  Your internal dialogue determines whether or not you become a victim in the current economic crisis or a survivor-or should we say, thriver.

2. Focus on what you do want, not what you don’t want.

The Law of Attraction exerts that your life is a reflection of what you think, what you focus on, and what you expect to happen.  You must turn your attention away from worry and fear.  While it is a good idea to develop a plan for the worse-case scenario, once that plan has been laid you must move on to brighter thoughts.  Consider what you do want for your business and keep those ideas in the forefront of your mind.  Those thoughts will continue to attract more positive things into your life and business.

3. Maintain a positive attitude.

Try to remain as positive as possible.  While thinking more positively is a good first step, maintaining a positive attitude has a lot to do with your emotions as well.  Try to do those things that enable you to feel more upbeat and positive.   Exercise, read, maintain your hobbies, watch comedies.  It’s much easier to remain positive when you’re participating in those activities that make you feel good.

4. Become more competitive.

Consumers are now, more than ever, keeping a close eye on their pocketbooks.  This increases the competitive nature of the marketplace.  If you don’t increase your competitive advantage now, you’ll feel the impact on your bottom line later.  Consider adding complementary services or increasing your marketing efforts in order to counteract these effects.

5. Take action.

Entrepreneurs that passively “wait out” the recession will probably find their businesses in need of serious resuscitation when the dust clears.  Take action to improve your business regardless of what the economy is doing.

The Universal Practice Builder Program

Now is as good a time as any to grow your clientele.  Regardless of the economy, small business owners are still required by law to keep accounting records.  However, the market will grow increasingly more competitive as prospective clients look for the best accountant to meet their needs.  You must better market your services in order to generate the most appeal for your particular skill set.

In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand how to best market your services.  Our Universal Practice Builder Program will provide you with 12 marketing strategies that will enable you to secure 15 to 25 qualified leaders per month, a guarantee of $30,000 in new annualized billings in only 12 months, three months of master coaching, and access to a proven plan that will help you retain clients.  Again, you can complete this amazing program on your time and at your own pace.

When you order this program now, you will receive a second valuable program, QuickBooks Made Profitable, for free! Designed to help you attract even more clients using your QuickBooks expertise, this course will enable you to start and maintain an even more lucrative practice.

80% of small businesses use Intuit’s Quickbooks software.  Learning Quickbooks will help you keep more efficient records, enabling you to teach your clients how to use the software so that you can get the information you need which will make your job much easier.  In addition, this program will teach you how to attract more clients using your QuickBooks setup, help, and consulting services.

Take advantage of this marvelous opportunity to stay the course and thrive the current economic recession.  Order now!

References

Misner, Ivan.  “I Refuse to Participate in a Recession (Part 2).” 1 October 2008 Entrepreneur.com Blog Network.

Wise Budgeting Tips

As an accountant you probably think you’ve got your budget under control.  You know numbers and watch your spending to ensure that you are managing your money well.  But unless you’re applying crucial budgeting strategies, you’re not using this valuable tool to its full advantage.  Here are 5 tips that will help:

1. Ensure your budget aligns with your business strategy.

This may seem obvious, but in the day-to-day tasks required in business management, strategy may be forgotten.  There are fires to put out, emergency expenses to pay, and last-minute purchases to make.  So unless you’re vigilantly monitoring your outflow, your strategy may be nickel and dimed into extinction.

If you don’t yet have a strategy, now is the time to develop one.  Does your business require more aggressive marketing techniques?  Are you attempting to grow your firm by hiring a support staff?  Or do you want to focus on retaining current clients?  Whatever your strategy, you should devise a budget that supports and sustains it.

2. Assess your Chart of Accounts.

As an accountant you are very familiar with the Chart of Accounts.  The Chart of Accounts enables you to set up categories that align with your management strategies.  It also enables you to establish a healthy balance between control and responsibility regarding business spending.

3. Establish accountability.

Anyone responsible for spending within your business needs to be accountable for his/her choices.  You may currently be the only person responsible.  However, it’s important that you acknowledge and assess your spending and then make any necessary changes.  You may determine that your budgetary items are best distributed among control areas like marketing, skills development, client retention, management, etc.  This may provide you with more control over outflow.

4. Regularly review your budget.

Establishing a budget and then ensuring that it aligns with your business strategy is only part of this valuable process.  The true benefit of budgeting comes when you regularly review your budget with key players in your business.  In your review you can compare budgeted expenses with actual expenses and discuss discrepancies.  You can also talk with those responsible for various expenses and see how they might revise some of their spending choices.  This is also a good time to implement necessary changes and assess any changes implemented since your last budgetary review.

5. Revise as necessary.

A budget is not set in stone.  As mentioned in the previous tip, as you assess and review your progress it’s important that you make necessary changes.  In fact, that’s the beauty of budgeting.  As you monitor your income and outflow, you can make changes that will influence the future profitability of your business.

As an accountant you may assume that you’ve been using this tool to its full advantage.  But if you haven’t been applying the above tips, you may be missing out on some of the best benefits of budgeting.

QuickBooks Made Profitable

Budgeting isn’t the only tool you can use to increase your business’s profitability.  Our program, QuickBooks Made Profitable, will teach you just how to use QuickBooks accounting software to attract and retain more clients.

Nearly 80% of small businesses use Intuit’s QuickBooks software.  While other programs may be useful, QuickBooks has definitely captured the small business market.  Mastering QuickBooks will not only enable you to better manage your budget and keep more efficient records, but it will also help you teach your clients how to use the software so that you can get the information you need which makes your job much easier.  This program will teach you how to leverage your time while saving clients money in taxes and helping them increase their profits.  What client wouldn’t be interested in that?  We’ll teach you how to use this valuable software package to generate more income!

Don’t wait to grow your business and experience the success your budget will certainly help you achieve.  There are countless potential clients out there in need of these specific services.  You can be the one to provide them.  Order QuickBooks Made Profitable today!

7 Procrastination Busting Techniques

Nothing is so fatiguing as the eternal hanging on of an uncompleted task.- William James

Putting off an easy thing makes it hard. Putting off a hard thing makes it impossible. - George Claude Lorimer

The best way to get something done is to begin.-Anonymous

Last week you took a quiz to determine if you are a chronic procrastinator. But whether or not your procrastination issues are severe, everyone can benefit from a few procrastination busting techniques. In this installment of our two-part series, we provide you with 7 tips on overcoming procrastination:

1. End each day by planning the next.

You will be better prepared, mentally and physically, to tackle difficult tasks head-on when you schedule time to do them. At the end of each workday, review the schedule for the next day so you set aside time to perform those functions you’ve been postponing. Often you can overcome procrastination by giving yourself the time to do those things you’ve been avoiding.

2. Tackle the most formidable task first.

Those tasks you put off are generally the most distasteful. You’ll be doing yourself a huge favor if you tackle those tasks first. You know what they say: swallow a toad in the morning and you will encounter nothing more disgusting the rest of the day. When you complete these tasks first thing, you’ll find yourself recharged and ready to tackle the remainder of your day with ease.

3. Change your vocabulary.

Sometimes a change in perspective will come easily when accompanied by a change in vocabulary. When looking at those tasks you tend to procrastinate you probably feel as if you have to do them.” Change “have to” to “want to” and see if that lightens the load a bit. Also certain projects can appear overwhelming. Rather than tell yourself you must “finish” such projects, tell yourself you will get a good “start” on the project. This may motivate you to tackle it a piece at time.

4. Break large projects into manageable tasks.

Those overwhelming projects are best handled bit by bit. Break those large projects into smaller tasks that can be handled on a daily basis. Schedule these smaller tasks into your day so that you’re able to better inch towards project completion.

5. Practice the Ten-Minute Rule.

For whatever reasons, we are unmotivated by certain tasks. Practice the ten-minute rule with these tasks by dedicating just ten-minutes to them. Often you’ll find that once you get moving, you’re motivated enough to continue long after the ten minutes have ended. And if you’re not, at least you did something that contributed to the completion of that task, and it’s probably more than you would have thought could be accomplished in just 600 seconds.

6. Reward yourself for completed tasks.

When working on especially dreadful tasks, give yourself a small reward for completing the task by a given time. Whether you take a short walk, surf the internet, or read a page from an engaging book, rewarding yourself in small doses may help you work a little harder on those tasks you tend to procrastinate.

7. Feel the fear and do it anyway.

Sometimes we procrastinate certain things because we’re afraid we will fail, we don’t have the skill set, or are uncertain where to begin. In situations like these it is best if you feel the fear and move forward. Generally you’ll find that your fears were unfounded and that you were equal to the challenge.

Allow UAC to Help You Do It Anyway

Whether you want to start your own accounting practice, earn a little money on the side as a bookkeeper, or use the training to advance your career, the flexibility of the Professional Bookkeeper (PB) Program as well as its modest price will help you accomplish your dreams.

You will learn small-business accounting and have the opportunity to earn professional certification that will show clients you have the expertise to manage their books. In addition, we teach you how to market your new skills effectively in order to secure the clientele that will make your practice successful.

Perhaps you fear that you do not have the necessary background to learn accounting, are too old to get started, or are not ready to take the risk. The PB Program is designed for individuals just like you! Some of our graduates did not know a debit from a credit when they started our program while others had years of accounting experience behind them. All found the program to be valuable and worth the time and money spent to complete the Professional Bookkeeper Program.

Increase Your Earning Potential and Enroll Today!

When you enroll in both the Professional Bookkeeper Program and the Professional Bookkeeper’s Guide to QuickBooks, you increase your earning potential significantly. You can offer Quickbooks set-up, help and consultation services for $65-$95 per hour. Not only that, but you’ll learn a valuable software program that will enable you to do the following:

• Quickly pay your bills so you never incur late penalties.
• Be reminded when bills are due.
• Write checks with one single click!
• Quickly and effortlessly create invoices so you get paid sooner.
• Track customers and vendors so you can easily look them up in one place.
• Keep on top of incoming and outgoing payments.
• Access easy-to-read financial reports NOW!

Enroll in these two programs today and be on your way to a brighter and more lucrative future. Stop procrastinating! Enroll now!

The Successes and not so Bright Spots of the Year

This time of year is often a favorite for many who look forward to starting anew and looking back at the accomplishments over the last year. As your children may be counting down the days until that morning of anticipation and wonder, we in the accounting profession have a chance to take a step back and look over the year that we just had.

For some out there, it’s been a year to remember with fantastic growth in the amount of clients they have contracted with; increased their billable hours to a point where “living comfortably” is a good description of their current state. The state of their business is flourishing and everything is clicking on all cylinders like a finely tuned engine chugging along nicely.

For others it was a year of trial and error, where you had some successes, getting that larger client, finding that new way of doing things that shortened the time you spent on this or that particular task. But it was also full of mistakes, and of errors that were caused by inexperience, or simply from not knowing what to do. Mistakes that inevitably took away from the company’s bottom line and resulted in losing a client or two along the way.

Yet still for others this was a trying year, one that would be eligible for a “mulligan” if it were a round of golf. Although the effort was made, things and accounts just didn’t seem to come your way. It has now become very clear that drawing on additional Accounting and Bookkeeping experience is what is needed. This do-over year was full of pratfalls and blunders that bring the toughest to their knees and yet you survived it, ready for a new year.

However this last year was for you, this next year is a year of anticipation and wonder. You can make a great situation greater, a good thing much better and turn around the bad results into the learning experiences that they were and incorporate those lessons for this next upcoming season.

Here are a few things that help every company to take stock of how their year went.

• List the changes that happened to the practice of last year from the year previous
  • Additions or subtractions of clients, employees, services offered, and industries entered.
  • Any additions or subtractions of office equipment or capabilities of doing business.
• As all of us are inclined to do, get down to the dollars and cents of what happened in the year.
  • When you were more profitable than other times.
  • When you could have been more profitable and weren’t.
  • What was the real cost and profit of the practice over the year.

The success of what your practice does is on your capable shoulders. You are the deciding factor in how the business is run and what is accomplished throughout the year. Decide today how and what your business will accomplish for the upcoming year so you can take the steps that will bring you the success you look for. After you assess the right and wrong moves you made this year, resolve to continue your success and to gain more this next year. Universal’s Accounting and Bookkeeping web site can help you keep yourself on track. Click here and bookmark the site for future and continued referencing as we share and place what we share on that information-filled site.

Eight Time Management Secrets for the Accounting and Bookkeeping Home Business

You took the leap of faith and started your own Accounting / Bookkeeping business, and now you have enough clients to keep you busy for a long time. But you’re starting to wonder how you’ll keep up with it all, providing your clients with quality service while having that time to yourself you’ve always dreamed about. So how do you manage your business so that it doesn;t manage you? Here are eight time-saving tips to help you manage your business and recover your life.

1. Better Organize Your Home Office

If you’re like most people, you have wasted seconds, minutes, hours in precious work time hunting for that one invoice, file, or perhaps even the stapler. Your mother probably taught you that there’s a place for everything and everything should be in its place. That’s sound advice. If your office is well organized, you’ll waste little time hunting things down. While it may seem a daunting and time-consuming task at first, you’ll save yourself lots of time in the end if your organize your home office now (for more help on this, read our two articles: “Organizing Your Home Office Part I” and “Part II“).

2. Templatize

How many repetitive tasks do you do in one day? If you’re wasting time recreating the same documents or sending the same types of email, it’s time to standardize some of these tasks. Create form letters, standard documents, and redundant text for typical, lengthy emails. This should save you time, and because time is money in this business, you’ll be able to spend that saved time either making more money or enjoying what you’ve already made.

3. Punch The Clock

Okay, okay. So you quit your day-job so you wouldn’t have to punch the clock anymore. But the truth of the matter is if you don’t set your own hours and keep them, you’ll find yourself on the job 24/7. Generally, when working a 9 to 5 job you only work past five when there’s an emergency; do the same while working for yourself. Set some rules right now. For example: “I will work from 5AM to Noon, Monday through Friday and I will only work overtime when…” Be specific. Otherwise you’ll find that your work is managing you rather than the other way around. You’ll be amazed at how this will help you to work smarter. You may be wasting two hours everyday simply because you have them to waste. Also let your family know what your working hours are. If they know that you need to honor your business hours in order to honor family time, they’ll be more likely to give you the time and space you need (as long as your respect that time set aside for the family).

4. Plan Daily

The old adage goes, ” If you fail to plan, you plan to fail.” How true that is! Take a few minutes every morning to review your schedule and plan your day. Take a few minutes when you are wrapping up work in the evening to plan your next days activities. Whenever you do it, do it daily, this time will go far in helping you use your time more effectively.

5. Prioritize Tasks

Just last week I spent 5 hours on a project I felt strongly about, but when I looked over my accomplishments later, I realized I hadn’t finished a task that was more important and timely. When we don’t prioritize our tasks, we run the risk of putting a lot of effort into something that isn’t crucial. By planning daily you will be able to find that the prioritization gets easier to do.

6. Avoid Procrastination

Procrastination is the great time-killer. All of us have had our bouts with it one time or another. It would be interesting to count up all the time wasted simply by procrastinating the essential tasks. How much time and energy do we spend worrying about one of those important to-do items? How often do we distract ourselves with silly busy work that doesn’t get you anywhere? Stopping short of diabling the game of solitaire on your computer, you need to fight the urge to delay the “unpleasant” tasks of the job. Take a deep breath and procrastinate no more. Delve into the task as soon as you can, with the attitude that it is as pleasant as the most simplest of tasks. And it will soon become that.

7. Become a Speed Reader

We’re not kidding. Some of us are slow readers, and lots of time could be saved in learning how to locate significant data quickly. It also helps us to keep on top of information that is crucial to our success in the accoutning and bookkeeping profession. Just think of it, how much reading do we do each day? If we could cut our time we spend on that and still get the same benefit, why not work to gain that reading skill?

8. Log Interruptions

Everyone in business is interrupted countless time a day. Some of those interruptions help grow your business (like clients who call with work for you to do). But some interruptions are unecessary and counterproductive to the working environment. If these can be anticipated, and handled in a timely manner, you will have a step up from the rest who cannot. We would suggest for those who would want to be better at handling the interruptions of their day to take a small pad of paper and note each interruption for one week. Be sure you note the time, date, interrupter, and the subject of the interruption. Once you have the information, you can evaluate it. Which interruptions could have been avoided? Which were of no value? Perhaps you have someone calling you for information that you could teach them to find themselves? While the teaching moment may cost you an hour now, it may save you hours in the end.

We all need to be aware of our time and how we spend it. Money is time and time is money in what we do, and we would need to stay on top of those things that are keeping us away from making what we could if we were just that much more organized. If you are able to do that, then the time spent working is more effective (and profitable), the time spent on them is minimized, and you will be able to enjoy that free time doing what you want to do when you want to do it.

If you are looking to become trained as a Professional Bookkeeper, and be able to handle your time better with the time-saving tips contained in the training program, click here to find out more

Become a Professional Bookkeeper today.

The hectic holiday season is tame compared to the financial Year End most accountants have to deal with. The year-end financial statements are the most important reports accountants issue. They are used for tax preparation, future reference, and decision making more so than any other monthly reports accountants prepare. For that reason you need to spend more time making sure you are correctly reflecting accurate information. But there are some things that can make it easier.

Accounting Software

Steven Cohen, managing director of Softline Pastel, says, “Yet, however intimidating this task may seem, automated accounting software applications have made the ordeal simpler, if a systematic method is followed. In addition, accounting software vendors are keenly aware of the stresses of Year End processing and accommodate clients by allowing them to proceed with the new financial year, while backdating audited financial adjustments on the previous year.”

With QuickBooks, the leading accounting software for small business, setting a closing-date will help with Year End accounting. QuickBooks also includes a Year-End Checklist to walk you through keys tasks. You can access this feature by clicking “help” and then choosing “Year-End Guide.”

Year-End Accounting Checklist

Sometimes it helps to have a checklist to follow in order to complete crucial Year-End Tasks. Here are a few things to ask yourself when doing your Year End financial statements.

• Does my general ledger bank balance reconcile to the bank statement?
• Are there any accounts receivables that are worthless and should be written off?
• Is my balance in Allowance for Bad Debts a reasonable estimate of potential write-offs?
• Is the company’s inventory balance correctly stated?
• Are there inventory items that cost more than they’re worth and should be written down to their market value?
• Does the company still have all the fixed assets?
• Is my depreciation correctly recorded for those fixed assets still in the company’s possession?
• Did I amortize goodwill and franchise fees?
• Are there any prepaid items that need to be adjusted such as prepaid insurance?
• Have all assets been reviewed for accuracy?
• Have we recorded all of our payables?
• Do the payroll tax liabilities coincide with our quarterly reports?
• Do the balances in the notes payable accounts (loans) agree with what the banks say we owe?
• Are there other debts that have not been included on the books?
• Are there debts on the books that no longer exist because of forgiveness or oversight?

Finally, the last step of the year-end process is to check your Sales, Cost, and Expense accounts. Compare them to prior years to see if any increase or decrease is reasonable. If you run across some significant changes, you may want to look at the general ledger for that account to ensure the entries are legitimate.

As you follow this year-end process you will be amazed at how much you learn. You’ll see trends and practices that will help you in consulting with the client and help him/her run their business more effectively.

Meeting with Client

Once you have completed this list, and before putting the books away for the year, make sure you run the financial statements by the owner/manager to identify anything you might not be aware of.

The best way to do this is to arrange a meeting where you can show them the completed financial statements and review the balances of each account, including the subsidiary ledger balances.

Throughout the review ask the question, “Do these balances seem reasonable?” At the end of the meeting ask, “Are there any other assets or liabilities that I haven’t included?” Occasionally, they might surprise you with an event that you didn’t have any knowledge of before, but that will affect your books.

In fact, often times the accountant will know more about the business finances than the owner. That’s why so many Universally trained accountants diversify into new businesses because they see opportunities going untapped.

Backup Year-End Data

Be sure to backup all current data before performing beginning your Year End financial reports. It’s also a good idea to print all financial reports prior to your Year End calculations. Once you complete Year End financial reports, backup that information as well. Label your files clearly to avoid confusion of the different files.

Universal Training Can Help with Year End and Other Accounting Functions

Universal’s Professional Bookkeeper Program can help you perform valuable accounting tasks for the small business. Whether you’re looking to improve your current accounting and bookkeeping business or whether you’re looking to start your own accounting firm, the PB Program is guaranteed to help! Don’t wait another day to advance your career. Visit Universal Accounting Center today!

Year-End Is Where the Fun Begins!

It’s That Time Again

It’s that time of year again when most businesses are closing their books. The business owners are either celebrating or licking their wounds. In any event, we as accountants usually have some clean-up and decision making to do.

January thru April is when we do our best work (and make the most money). We’re well fed from the holiday festivities, and anxious to tackle a new challenge.

Year-End Financial Statements

The year-end financial statements are the most important reports we issue. They will be used for tax preparation, future reference, and decision making more so than any other monthly reports we prepare.

For that reason we need to spend more time making sure we are correctly reflecting accurate information.

As a timely refresher we are providing a simple checklist of items that you should consider for each business you are working with when ensuring the accuracy of your year-end books:

Once you have completed this list, and before putting the books away for the year, make sure you run the financial statements by the owner/manager to identify anything you might not be aware of.

The best way to do this is to arrange a meeting where you can show them the completed financial statements and review the balances of each account, including the subsidiary ledger balances.

Throughout the review ask the question, “Do these balances seem reasonable?” At the end of the meeting ask, “Are there any other assets or liabilities that I haven’t included?” Occasionally, they might surprise you with an event that you didn’t have any knowledge of before, but that will effect your books.

Finally, the last step of the year-end process is to check your Sales, Cost, and Expense accounts. Compare them to prior years to see if any increase or decrease is reasonable. If you run across some significant changes, you may want to look at the general ledger for that account to ensure the entries are legitimate.

As you follow this year-end process you will be amazed at how much you learn. You’ll see trends and practices that will help you in consulting with the client and help him/her run their business more effectively.

In fact, often times the accountant will know more about the business finances than the owner. That’s why so many Universally trained accountants diversify into new businesses because they see opportunities going untapped.

So, this year, take the time and make the effort to be precise so that you can go into 2009 with reliable balances and peace of mind.

Year-End Accounting Checklist

• Does my general ledger bank balance reconcile to the bank statement?
• Are there any accounts receivables that are worthless and should be written off?
• Is my balance in Allowance for Bad Debts a reasonable estimate of potential writeoffs?
• Is the company’s inventory balance correctly stated?
• Are there inventory items that cost more than their worth and should be written down to their market value?
• Does the company still have all the fixed assets?
• Is my depreciation correctly recorded for those fixed assets still in the company’s possession?
• Did I amortize goodwill and franchise fees?
• Are there any prepaid items that need to be adjusted such as prepaid insurance?
• Have all assets been reviewed for accuracy?
• Have we recorded all of our payables?
• Do the payroll tax liabilities coincide with our quarterly reports?
• Do the balances in the notes payable accounts (loans) agree with what the banks say we owe?
• Are there other debts that have not been included on the books?
• Are there debts on the books that no longer exist because of forgiveness or oversight?

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