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  • Writer's pictureFair, Anderson Langerman

Financial Tools Every Small Business owner Should Know

Updated: Dec 19, 2022

There's a lot that goes into managing a successful business. Not only do you need to keep your customers happy, but you'll also have to deal with the financial side of things. Luckily, with the right tools in place, managing your business finances isn't as hard as you might think.

Working with one of the best CPA firms in Las Vegas is a great first step. This gives you access to a professional who can act as a second set of eyes and help keep your business on track. However, you also need to take care of your day-to-day finances.

Important Financial Tools for Businesses

Accounting Software

Ask any of the best CPA firms in Las Vegas what type of software a business can't do without, and you'll always get the same answer – a great accounting program. There's a reason for this. Hiring the best CPA firms in Las Vegas does you no good if you can't provide them with your basic financial information.

If you're not currently tracking your accounting or you're using an outdated system – like a spreadsheet or a pen and paper – it's time for an upgrade!

There are several excellent accounting software programs on the market today. When weighing your choices, look for features like cloud-based entries, integration with your other systems or the ability to easily share information with your tax professional.

Payroll Management

As one of the top CPA firms in Las Vegas, we see a lot of business owners who have made payroll mistakes. Not only are they expensive to fix, but payroll issues also cause a lot of unnecessary headaches. If you have employees, a payroll management system will completely change the way you run your business. Look for a program that integrates with your accounting software and that has the capability to scale as your business grows.

Budgeting Tools

Knowing where your money is going is key to running a successful business. This will make it easier to manage your cash flow and allow you to quickly notice when things aren't happening as they should. If you're working with CPA firms in Las Vegas, being able to provide this information will allow them to offer you their professional advice. Many of the best CPAs will be happy to review your spending and make suggestions to help optimize your tax returns.

Invoicing Software

If you can't get paid, nothing else matters. Do yourself a favor and choose an invoicing system that is easy to use. This will help ensure you don't forget to send bills.

Look for a system with an easy option to pay online and you're likely to get paid faster. Most programs will also allow you to track late payments and send automatic payment reminders. Choose a program that integrates with your accounting system so you can spend less time doing data entry.

Choose the Best CPA Firm in Las Vegas

If you want to improve your business's financial security, the professionals at Fair, Anderson & Langerman can help! Contact us today to learn how we've earned our reputation as one of the best CPA firms in Las Vegas!

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