5 Accounting Tips to Save Money

Score.org is an excellent resource to find helpful information for your business as it grows. Check out this helpful article that talks about when you should consult a CPA.

A CPA—a trained and experienced accountant who had to pass an exam to become certified—can help you address the big-picture accounting questions your business faces.

These questions and tasks might include preparing you for tax season or helping you comply with changes to the tax code. You can also lean on their expertise if you want to take out a small business loan, or if you need to change your business’s legal structure.  

If your business is growing and you want to hire employees, a CPA is a great role to fill early. You can also meet regularly—quarterly, or bi-annually—with a CPA to go over your progress.  Use resources like the American Institute of Certified Public Accountants to find a CPA directory. You’ll want a CPA who can review your finances and bring ideas to the table about how to move forward responsibly. A proactive CPA with ideas that translate into real savings or proceeds is worth their fee or salary, and then some.

Accounting isn’t the most glamorous part of running a business, but it may be the most important. Your cash flow is your business’s lifeblood, and having a handle on it—as well as a sense of how to use it—with the above tips will help keep you solvent and sustainable, no matter what comes at you.  

5 Accounting Tips That Can Save You Money | SCORE