A recent article published by Entrepreneur details the results of a TD Bank survey where almost half of the 508 owners surveyed responded that bookkeeping is the worst part of running a business, while handling finances and banking were also high on the list. It seems that numbers in general (besides income) are unpopular among business owners.
There are many reasons why bookkeeping is unpopular. It’s a difficult task to perform when you’re not an accountant, and learning on the fly is even harder. Furthermore, bookkeeping is a tedious and unpleasant experience for most people. The thought of dealing with payroll and fluctuating tax rates is enough to make any business owner cringe.
Like it or not, how well you record your finances could make or break your business. There’s a lot at stake. Failure to keep track of your receipts could cause you to miss out on valuable business-tax deductions. Mismanagement of bills will cause your credit to plummet, and if you mess up your federal taxes you’ll be getting a call from Washington.
Vertex Cloud sales and use tax automation can provide some relief. Using the most innovative calculation and returns software platform, we streamline, integrate, and automate tax processes, providing you with an accurate and effective solution. With Vertex Cloud, at least your sales and use taxes don't have to be a headache.