Accounting For Small Businesses
Penalty fees, past due notices and unbalanced checkbooks - a lot can go wrong if accounting is not taken care of. That’s where Dustin Sellers and his company ProAccounting Hawaii come in with a message about the benefits of outsourcing accounting duties by small businesses.
“If it is something you don’t make money at and it isn’t your core business, if you can find somebody else to do it better, you should outsource it,” says Sellers. “We believe the timing is right from an economic environment to find areas that are administrative in nature, time-consuming, and that really don’t make any money.”
Sellers, along with business partner Ben Godsey and eight employees, help small businesses by doing their Quickbook accounting online.
ProAccounting also will take over the entire accounting process for the business, using web-based software that gives owners a financial picture of how their company is doing at a glance. Sellers explains that traditionally a person may do accounts receivable in the morning, print invoices in the afternoon, and then at the end of the week do a batched receipts review.
He says his challenge is getting business owners to grasp the idea that you can be effective 24/7 and know where you stand.
“When they talk to one of our clients, that is when they get it,” notes Sellers, a Punahou graduate. “It’s like anything, it is experiential. It’s like the first time you have your house cleaned by someone. They folded your clothes and put them all away for you, and you have another hour at work or with your kids. Until you have that great housekeeper you paid $50, you don’t know what you’re missing.”
ProAccounting clients include Ruby Tuesday and American Mattress.
“To the small-business owner, it means fewer headaches, fewer mistakes and more money in the bank,” he says. “That’s what the 28,000 small-business owners in Hawaii who drive our economy need the most right now.”
ProAccounting Hawaii was established in 2007 and purchased by Sellers and Dennis O’Connell in 2008. It is a sister company to ProService, which handles outsourced human resource services. O’Connell, director of operations for ProAccounting Hawaii, has 15 years of experience working in capital markets including Fidelity and State Street Global Advisors.
Sellers says there is a timeliness, a dependability and an accuracy involved in outsourcing.
“You can guarantee that your accounting, postings, invoicing, accounts recievable, accounts payable are pretty much 24/7 live,” he says, “because we are in fact taking the data throughout the day from the client and posting it in real time. It is almost like a conveyor belt.”
His goal for the company’s future? To drum up more clients, of course.
ProAccounting is located at 6600 Kalanianaole Hwy., Suite 200, in Hawaii Kai. For more information, call 524-0748 or log onto proaccountinghawaii.com.
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