Issue link: https://www.ascpskindeepdigital.com/i/691743
56 july/august 2016 BOOKKEEPER A bookkeeper is not an accountant. An accountant requires a lot of initial training, must pass a state certification exam, and basically understands all the details of the tax law in your state. A bookkeeper is someone who will help you keep all of your day- to-day financial records in order and up to date. She will help you organize your receipts and invoices throughout the year so that you have a nice orderly package to give your accountant at tax time. She will likely be proficient with some type of accounting software, like QuickBooks, FreshBooks, or Sage. There are two ways to use a bookkeeper. One way is to keep your stack of receipts and invoices until the end of the year, then dump it all onto a bookkeeper and hope they can figure it out. A better way to use a bookkeeper is to give them your paperwork throughout the year and have them enter it and organize it, so that at the end of the year, everything is ready for your accountant. Fees for a bookkeeper can vary, so ask about the costs. You'll use much more of a bookkeeper's time than an accountant or attorney, so do a little comparison shopping. Can you do bookkeeping on your own using QuickBooks software? You certainly can. But why should you? Opt to use a professional for this tedious task; you'll know it's being done right while you spend your time doing what you do right—taking care of your clients. CREDIT CARD PROCESSOR It's your choice whether you want to accept credit and debit cards, but we live in a pretty cash-free world, so insisting on cash can severely limit your clientele. You can ask your bank if they can provide this service for you; however, banks often charge very high rates to process credit cards. Check with independent credit card processors to compare prices; there are businesses such as Square that offer much lower transaction fees than the banks, and allow you to enter your transactions over the Internet. Charges for credit card processing will include a start-up fee (usually a few hundred dollars) then a small charge per transaction (a percentage of the transaction amount plus a set fee, perhaps 25 cents). There are also several cost-effective options from companies like Square that allow you to accept debit and credit cards through a smartphone or tablet app, eliminating the need to buy or lease expensive, bulky processing equipment. Check the Members section of www.ascpskincare.com for discounts that may be available with credit card processing companies. BUSINESS COACH An incredible growth industry in the past few years, business coaching can be helpful for the business owner who needs help in various areas. Find someone who has specific experience in the areas you want to grow, and determine whether the coaching costs will fit your budget. Coaching usually includes several meetings or phone calls per month, and often costs several hundred dollars a month. Coaching can be an incredibly helpful service; just be careful you don't spend more than you can afford. FINANCIAL PLANNER Once your business is making some money and you need to invest that money in a useful way, it's time for a financial planner. Look for a certified financial planner (CFP). Planners are paid one of two ways. Some are fee-based, which means you will pay for their time as they advise you. The second way is commission-based. That means you pay them nothing for their time, but the mutual funds will pay them once they enroll you as a client into that mutual fund. Some people believe that