New Logo  Off-Site Business Services, Inc.
 Bookkeeping * Payroll * Administrative Services * and More 
Full-time Professional Office Management-Without the Full-time Cost.
Tuesday Tips and Tricks
                                  March 19, 2013

A Note from Kim


I want to take this time to thank you for your support over the past years. Whether we met several years ago or just recently, the opportunity to work or talk with you has helped me develop this business to where it is today.


Those of you who have been receiving our e-newsletters for awhile know our purpose is to both educate and inform business owners on updates to bookkeeping and payroll standards and laws. It also serves as a vehicle to let you know about how Off-Site Business Services can make a business run more cost-effectively by outsourcing much of their clerical and bookkeeping work.


We are always looking for ways to help a business owner run their business more effectively and efficiently so if there is a topic you would like us to address in future newsletters, please let us know. Also, if you know a business owner we can help by streamlining many of their adminstrative processes, please forward our e-newsletter to them.  Or direct them to the newsletter archive on our website (


It is our pleasure to work with some outstanding businesses and individuals.  We look forward to working with you for many years to come and to beginning a successful relationship with new friends.


The Point is,

Pencils Won't Lose Your Data 


Statistics from the U.S. Small Business Administration reveal that about half of all new small businesses launched in the U.S.will fail within the first five years. What is the chief cause of small business failure? Poor financial management.  Sound financial management starts with an understanding of some basic rules of business bookkeeping.


One of the most important rules is to have start an Audit Trail. And map it on paper!


Many companies today are trying to go paperless. In the realm of bookkeeping and accounting, however, there's simply no substitute for paper documentation and a paper trail, when needed.


There are many instances in which paper documentation of financial records will come in handy or be required. An IRS audit is one example -- you don't want to be unable to produce requested financial documentation because it was lost in your computer system, or your system is temporarily down. While being environmentally conscious is important, bookkeeping isn't an area where you should skimp on the paper.


An accurate paper trail is the only way to track your financial successes and review your financial failures, a task that's vitally important in order to grow your business. You need to know what works successfully so you can repeat it in the future and build on your success. On the other hand, you need to know what failed so you can correct it and avoid making the same mistake again.


Your best protection against all the "in-cases" that happen to business owners (disputes, tax audits, and protecting against fraud, etc.) is an Audit Trail. Write it down NOW.


Does QuickBooks Occasionally Slow You Down?


QuickBook features save you time so you can focus on running your business. But if you are:

   - not printing checks,

   - not timely reconciling your financial accounts,

   - not taking advantage of memorized, 

   - not using the full accounting cycle,

   - not reviewing reports on a regular basis,

   - and not backing up the data file,

         you're focusing too much time with your books, and not your customers!


Kimberly Shannon, President of Off-Site Business Services will be talking about
 "Common QuickBook Mistakes and How To Fix Them"
 on Thursday, April 18 at 8 a.m. at MB Financial Bank, 15533 Cicero Avenue, Oak Forest, IL.


Kim will also discuss "Best Bookkeeping Practices" because adopting some good habits can help stave off costly errors when it comes to recordkeeping, such as losing control of your spending; smoothing out seasonal ups and downs; enabling you to easily identify how your business is really doing; and keeping you out of trouble with the IRS.


Call 708-629-3024 for reservations.


Off-Site Business Services, Inc.
Grow A Successful Business!
Kim Shannon Kimberly Shannon


Refer a new client and receive a $25 VISA gift card

                                                        (after $100 of paid services). 

   Call for a free one-hour consultation.

   Find Us on Facebook 
Follow us on Twitter
Developed by the SOAR Creative Group