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Buried by Bad Bookkeeping

Running a successful business is no small feat. It requires dedication, strategy, and a keen eye
for detail. Yet, surprisingly, many business owners tend to overlook a critical aspect of their
operations: bookkeeping. Neglecting bookkeeping can have a significant negative impact on
business performance and decision-making. If any of the following common issues for bad
bookkeeping resonate with you, there is a solution!
Never Surrender
For many small business owners, surrendering to the piles of paperwork is because it is not a
high priority. Several factors contribute to this:

  1. Lack of Time – Running a business demands time and energy, leaving little room for
    administrative tasks like bookkeeping. Business owners often find themselves stretched thin,
    focusing on sales, marketing, and operations while relegating record-keeping to the back
    burner.
  2. Complexity – Bookkeeping can be overwhelming, especially for those with limited financial
    knowledge. Managing invoices, tracking expenses, and reconciling accounts can seem like a
    daunting task, leading many business owners to procrastinate or even avoid it altogether.
  3. Cost Concerns – Hiring a professional bookkeeper or accountant may seem expensive to
    small business owners. As a result, they opt to handle the books themselves, often without
    adequate training or understanding of best practices.
  4. Short-Term Focus – Business owners are frequently preoccupied with immediate concerns,
    such as making money and addressing operational challenges. Long-term financial planning
    often takes a backseat to more immediate demands.
    The Solution: Accounting BootCamp

Recognizing the critical need for small business owners to gain control over their financial data,
Saunders Tax & Accounting in Hagerstown, MD, has introduced Accounting BootCamp. This
three-week intensive training program is designed to equip business owners with the
knowledge and skills they need to manage their books effectively.
Accounting BootCamp offers the following benefits:

  1. Comprehensive Training – Over the course of three weeks, participants receive two 90-
    minute sessions each week. These sessions include 30 minutes of in-depth instruction on
    essential bookkeeping principles, ensuring that business owners have a strong foundation in
    financial record-keeping.
  2. Hands-On Application – Following the instructional portion, participants spend the remaining
    60 minutes implementing the principles learned in their own books. Experienced accounting
    staff are on hand to provide guidance and support, ensuring that participants apply their
    newfound knowledge effectively in their own business.
  3. Up-to-Date Books – By the end of the three weeks, participants will have their books up to
    date. This provides the satisfaction of knowing that their financial records accurately reflect
    their business’s current financial position.
  4. Confidence and Insight – Accounting BootCamp not only helps business owners manage their
    books but also instills confidence in their financial decision-making. With a clear and accurate
    picture of their financial data, business owners then can make informed financial decisions that
    guide their business’ success.
    Accounting BootCamp, instructed by Saunders Tax & Accounting, occurs twice weekly on the
    following dates: Sept. 19, 21, 26, 28, Oct 3, and 5. Now is the time to get your business’ books
    up to date so that you can make year-end tax-savings moves since you know your true financial
    position. For more details and to register, visit www.SaundersTax.com/bootcamp.php.
    Although small business owners often face challenges that prevent them from prioritizing their
    financial records, the solution is Accounting BootCamp. This program provides the knowledge,
    skills, and support needed to maintain accurate and up-to-date books, ultimately empowering
    business owners to make wise financial decisions.
    Saunders Tax & Accounting is open Monday through Thursday from 9 am to 5 pm and is
    available online at www.SaundersTax.com. Awarded the Hagerstown Chamber of Commerce
    “2023 Small Business of the Year”, we have been providing a Less Taxing Life and More
    Prosperous Solutions since 1984!
Comments

Earl L. Crawford, Jr. 1937-2024

Earl worked for Goodyear Tire and Rubber Company for 30 years before going into business for himself at Crawford Tire from 1981 until 2019.

Dennis W. Flythe 1953-2024

Denny attended Greencastle Antrim High School and graduated from Delaware State University. He focused on providing for his family and creating a legacy.

Arnold W. Wagaman 1939-2024

Arnie was employed at Mack Truck as a quality control specialist until his retirement; a total of 39 years. In his free time, he enjoyed fishing and gardening.

Farm and Garden Penn State Extension

For the week of July 15, 2024 https://extension.psu.edu/franklin UPCOMING WEBINARS AND EVENTS: Penn State Extension is pleased to continue to provide quality education via a

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