financial freedom · all small business owners have stood in your shoes and faced the same...

FREEDOMFOR YOUR SMALL BUSINESS

Transforming Your Operations Through

Technology and Teamwork

FINANCIAL

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Blue Collar Back Office

Reduce The Stress

Your small business may not employ a team of experts in the back office, but you’ve certainly been performing the functions of a number of different roles. Wearing all those hats may start to get tire-some, especially when you have important work to do on the jobsite every day. And while you may be a pro on the job, chances are you’re not an expert bookkeeper or payroll administrator—and Quickbooks can only get you away from the computer screen for so long.

And that’s okay. You didn’t start this company with dreams of becoming an accountant.

So how can you be sure that your finances are in order and you’re making money on the jobsite in-stead of chasing pennies behind the scenes?

It’s time to establish a virtual back office and reduce the stress of running your company.

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Financial Freedom for Your Small Business

You’re Not Alone

17% found that finding and retaining

reliable employees was most difficult

12% reported their biggest challenge as finding new business

7% reported that working for themselves was their largest hurdle

17% 12% 7%

40% of small business owners reported that their biggest challenges had to do with

finances, taxes, or regulations

40%

All small business owners have stood in your shoes and faced the same challenges. In 2018, Gallup conducted a survey of over 600 small business owners across the United States.

That means that more than 75% of small business owners could benefit from having a hand with their financial operations.

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What Are You Doing?

Running your own business is not easy. You’ve learned this the hard way, through one roadblock or another. But it doesn’t have to fall on your shoulders alone. Which of these responsibilities have you taken on since starting your business?

Vendor Management

Legal/Regulatory

Mail/Shipping

Reception

Estimating

Payroll

Office Management

Project Management

Human Resources

Purchasing

Compliance

Accounting

Receivables

Customer Service

Marketing

Billing

How many of these responsibilities are not your forte, or just not of interest to you?

Chances are that you’re far more interested in the work itself and not the back-end tasks that you’ve taken on, but the list of other necessary responsibilities you’re managing may be quickly becoming the longer list.

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Taxes

Labor Laws

Antitrust Regulations


Are You Compliant?

Let’s take it a step further now. Below is a list of common regulations, taxes, and other items of interest that small business own-ers must comply with.

Environmental Regulations

Privacy Laws

State Regulations

There may be some words there that have already raised your blood pressure, or even some that you hadn’t yet considered. For those that are already managing all of these, you know how difficult it can be to balance these responsibilities with the workload of your business’s service offerings.

The good news is that you don’t have to manage these alone.

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Invoicing without a software system can take days for a business with even a hand-ful of customers. The hours spent creating invoices and sending them to recipients could better be spent working on new proj-ects. Quickbooks makes invoicing a snap, producing invoices and sending them out in minutes, instead of hours. It also makes it easy to follow up with customers who haven’t paid and automate bills for repeat-ing charges.

Having a hard time keeping up with the ups and downs of your finances? Quickbooks gives you the ability to stop wading through numbers trying to figure out if you’re in the red or in the black. Dashboards and reports give you an instant view of your profits and losses, giving you more time on the job and confidence in making new deals.

Many small businesses still store finances on offline spreadsheets, logging information manually. This not only takes an excessive amount of time, but leaves your finances open to error—leading to more time and more money lost. Quickbooks can auto-mate your system to save time and ensure accuracy.

Time is money.

Software Solution

The first step towards freedom in your business is to implement and man-age software that eases your bookkeeping burdens. You’ve likely already implemented Quickbooks by Intuit, so let’s explore the efficient solutions included in this massively useful tool.

Quickbooks babysits your

finances.

Let technology do the work.

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Software Solution

Keep information in one place.

Stop hating the IRS.

Get money when you need it.

For many of us, bookkeeping looks like this: • Receive payments via paper mail• Open spreadsheet or payment record• Log into bank account• Cross-reference information• Fill out spreadsheet or payment record• File payments in physical folder• Drive to bank to deposit checksThis takes at least an hour, but likely more for most. Quickbooks can do all of this in minutes, saving you time and money (and gas!).

No one likes tax time, but small business owners tend to feel the hit more than any-one. Even with the help of an accountant, gathering information from the last twelve months is a hassle, especially when you’re stuck using spreadsheets or paper records. Quickbooks makes it easy to manage your business taxes, whether you’re doing your own or paying an accountant. Your accoun-tant will thank you too, if you hand over a Quickbooks report instead of a stack of in-voices and receipts.

Most small businesses will need a loan at some point. Quickbooks makes it easy to gather the information that a bank might need to evalu-ate your eligibility for a loan quickly, saving you time and effort while giving a clear pic-ture of the state of your finances.

Additionally, Quickbooks helps cut down on user error and circumstantial disasters. Imagine returning from the bank to learn the power went out and you forgot to save your spreadsheet!

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A Helping Hand

So you have Quickbooks, and you are ready to get your small business bookkeeping in order. But where do you start?

Software, unfortunately, doesn’t immediately run itself. It’s going to require a bit of legwork to get the numbers rolling.

In order to make sure that you’re using Quick-books to its fullest extent, you’ll have to feed it some information, including:1. Ensuring that your products, services, and

other inventory items are entered into the system.

2. Connecting bank accounts and other fi-nancial information.

3. Importing or inputting all of your custom-er information.

4. Importing or inputting all of your vendor information

5. Importing or inputting all of your employ-ee information.

6. Setting up taxes, deductions, expenses, etc. to fit with your business and your state.

From there, you’ll have a great starting place, but the software itself will still need some hu-man help to keep it moving. Day-to-day man-agement responsibilities include:1. Entering transaction information.2. Reviewing overdue accounts and making

payments or requests for payment.3. Invoicing.4. Running payroll.5. Updating and managing inventory.

If you want to spend more time work-ing on projects, and less time working on your books, then outsourcing your accounting may be the answer.

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Benefits of Outsourcing

Up until the dawn of internet tax services, most people didn’t do their own accounting work. Large corporations hire whole teams of accountants to keep their finances in order. Smaller busi-nesses often hired their bookkeeping out to independent accountants and analysts, which led many to dread tax season.

As businesses like TurboTax became more pop-ular and Quickbooks became more prevalent, many small business owners began trying to take their finances into their own hands. But as much as these innovations have promised con-venience, they haven’t always helped. According to the Bureau of Labor Statistics, 20% of small businesses fail in the first year, 30% of small business fail in the second year, and 50% of small businesses fail in the fifth year.

The leading reasons for these failures tend to be:

Tax and regulation compliance issues

Cashflow hurdles

Lack of financial planning

Expanding too fast

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How Free Do You Want to Be?

“Everyone who achieves success in a great venture solves each problem as they came. They helped themselves and they were helped through powers known and unknown to them at the time they set out on their

voyage. They keep going regardless of the obstacles they meet.” W. Clement Stone, businessman, philanthropist, and author

Hopefully by now you’re breathing a sigh of relief, because there are a number of solutions available to help you work smarter at the things you love to do. You are not relegated to the back office for all eternity, and you truly can spend more time on the job and less time at a desk.

Blue Collar Back Office offers an-swers to most of your daily needs as a small business owner, and is designed specifically for blue collar businesses. If you’re ready to get back onto the jobsite, then Blue Collar Back Office is ready for you.

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Our staff is comprised of Quickbooks Cer-tified Proadvisors which means our team has passed multiple exams administered by Intuit (the creators of QuickBooks). These yearly exams show that the ProAdvi-sor is proficient the QuickBooks products, which means that we can help your busi-ness with most (if not all) of your account-ing and bookkeeping needs.

Our no-frills services are offered “as-needed,” which means you never pay for services you don’t use.

Business Support Services• Database management• Manual Keying• Data Processing• Data entry• Virtual Assistants

Bookkeeping• Enter transactions/data entry• Ensure bank records are complete and

accurate/bank reconciliation• A/R & A/P• Set up QuickBooks payroll do it yourself

option or full-service payroll• Provide P&L and Balance Sheet

Statements• Create professional proposals for your

customers• Monthly billing to your customers• Easy customer payment from billed

invoices

Financial Reporting• Income Statements (Profit & Loss)• Balance Sheets: Assets, liabilities, and

capital• Accounts Receivable: Balances that are

owed to your company by customers• Accounts Payable: Balances you owe to

other companies for supplies, inventory and services your company receives

• Budget vs. Actuals: Compares your budgeted income and expenses to the actual amounts

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A Helping Hand

“Success usually comes to those who are too busy to be looking for it.”Henry David Thoreau

Let Blue Collar Back Office take over the everyday tasks while you chase the success you deserve.

Call us at 862-244-4964 for a free consultation today.

www.bluecollarbackoffice.com

financial freedom · all small business owners have stood in your shoes and faced the same...

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