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Owning a business presents a variety of challenges, all which require significant amounts of your time. Ideally, you will be able to focus on growing your business instead of on the operational aspects of managing your books. Having a reliable and proactive accounting services team can help free up your time. In this episode of “Unique Perspectives – The DGC Podcast,” our guest is Dan Gaudet, CPA, a Principal at DGC and the leader of our firm’s Accounting & Business Advisory Services Group. Dan discusses how utilizing various accounting services can help you grow your business.
This is the third episode in a series of podcasts geared towards our Accounting & Business Advisory Services clients. The first episode discussed the importance of tax planning. Episode two discussed year-end payroll adjustments.
The following is a partial transcript from Dan’s interview with host Tom Annino.
Tom Annino: So, take me through some of the things you and your team have been seeing when it comes to accounting services. Is there one particular issue that seems to be popping up from client to client?
Dan Gaudet: Not necessarily embracing technology but taking technology a little bit further. That might be the best way to put it. Most clients, business clients in particular, have accepted the fact that we need to use an accounting software package. We also want to take that further because there are a lot of applications that work alongside or integrate with the accounting software that can help streamline accounts payable in a really great way and make things much more efficient. It can also help with inventory, payroll recording, and many other applications. So, depending on your type of business, it’s worth exploring whether or not there are applications that can help, not just to improve the recording of the transaction, but to streamline your business process and make things more efficient as a whole.
TA: What about online bank statements? We’ve become so used to checking our statements on a regular basis that it’s almost become second nature. You always advise your clients to be a little careful with that. Tell us why.
DG: We certainly don’t want to discourage people from checking their bank balance online. That is absolutely important. But I think it’s also important to be able to trust your accounting software and the bank balance within that software, and on your financial statements. Often times, there are checks that have been written that haven’t cleared the bank yet. That could leave you in a bad position. It’s certainly important to manage your cash balance, cash flow and budgeting by utilizing your financial statements. If they’re being kept up to date, then you can rely upon them.
To listen to the entire five minute interview, click here or use the Soundcloud player above.
DGC’s Accounting & Business Advisory Services Group can help develop a tailored accounting services plan that will work for you and your business. For more information, contact a member of your DGC client service team, or Dan Gaudet, CPA at 781-937-5142 / firstname.lastname@example.org.