No doubt about it. Owning your own automotive business comes with a lot of responsibilities, and sometimes a few headaches. Of all of the stressors plaguing business owners in the industry, accounting issues top the charts. Most go into the auto repair industry because they love the work and owning a business makes sense. Later, you find yourself held back by late bills and a nagging feeling that the business should be more profitable.

Unfortunately, problems in accounting can keep you tied to your desk, and worse, cut into your profits. The good news is that most of the time, even big problems can have very simple accounting solutions that, once in place, can have your business on track for success.

Before accounting issues become your biggest problem, consider a few simple solutions to save your sanity:

• Dig in and find the root cause of the accounting disorganization. Common problems in accounting are lack of knowledge, time, or energy. One of the biggest mistakes most automotive business owners make is thinking that they need to be experts in every aspect of their business. The truth is —you don’t need to be an expert, but you do need to know what the problems are so you can find great solutions.

• Research the best tools for your specific industry and business model. You can rattle off all the best tools and technologies in the industry, so why not use the best accounting tools? The right tools make all the difference in any business, so find out what tools would help solve the problems you identified.

• Define exactly what you want to gain from an accounting aspect then organize, be consistent, and ask questions! You do not need to know everything; you only need to know where to find the answers. Nearly every business owner has had the same or similar problems in accounting and has found practical solutions. Find out what worked for them, then dig in and find what works for you.

• Remove the likelihood of human error. We all make mistakes, but mistakes in accounting cost time and money. Accounting software and web apps are easy tools to keep your business running smoothly. Accurately documenting sales and expenses is the key to turning profit. Here are a few great accounting software programs to help you:
  • Quickbooks Online: it’s inexpensive, easy to learn and easy to use
  • Intacct: more advanced than Quickbooks, but perfect for a professional bookkeeper or someone with a finance background
  • LessAccounting: Basic, user-friendly, and web-based. Also allows you to make transactions from your iPhone.

Don’t stress over accounting issues. Focus on getting the right tools in place and enjoy the satisfaction of a job well done.

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