Frequently Asked Questions | Ken Harris & Associates | iPay Payroll Solutions

Frequently Asked Questions

Starting a small business can be a confusing process. Getting the right advice can mean sifting through pages of government websites to find information and you may end up with more questions than answers. At Ken Harris & Associates an iPayPayroll Solutions we simplify the process and provide up to date accurate information specifically for your business. Here are a few of our most frequently asked questions.

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What types of services does Ken Harris & Associates provide?

We are fully licensed and insured to offer accounting, tax, and business consulting services for small businesses and small business owners. 

Do I need to have a cash reserve for my business?

If you want to stay in business, you should have a cash reserve for your business. Your business needs to be able to meet expenses in full and on time, even if its invoices are not being paid. To preserve your cash reserve, it is extremely important to keep good accounting records. You need to be aware of several things:

How much money you have (the actual cash in the bank)
What you are owed, and by who
What you owe to others 
Where your money comes from (sales)
Expenses (where, when, and why money was spent)

Isn't it cheaper to do my paperwork myself?

This is probably the most common questions people ask when they are thinking of hiring a CPA. It is a matter of personal choice, but there are a couple very important things that you will need to take into consideration. Ask yourself how valuable your time is. Imagine all the things you could be doing to expand your business with that time. Would you be able to make more than what a CPA would cost? Of course, as your business grows, the answers to these questions will change. Another thing to ask yourself is if you think you have the skills and drive to do it yourself. If not, will you have time to learn?