CPAs and professional accounting solutions can help businesses cut down on their costs of products sold

Talk to most business owners, and few can truly understand the costs of products sold. Most have a basic understanding of what it takes to create products in their business.

Yet, without a professional CPA's help, most are missing out on key issues that can help them lower their costs and make their business more viable.

Let's take a sandwich shop owner as an example. As a good business person, he may know what the actual costs are for his product, but he may not understand his labor costs or his spoilage charges.

With a professional accountant and software in place, a business owner can learn to spot trends. For example, an accounting system can track the number of customers for specified periods each week. When a business owner can learn when his business needs more staff, it can cut down on his labor costs.    

Another example for this hypothetical restaurant is spoilage.   With the help of their accounting software, the owner can monitor these expenses.   By knowing that his business is throwing out too much of one or two raw products, the owner can modify his weekly order with his suppliers.

With the help of his or her professional CPA, a business owner can lower their expenses, saving money and increasing their revenues.

-- Steve Cook