Debit cards are registered payment and settlement plastic cards that depositors use to make non-cash payments for goods and services with reserves from their account to withdraw cash from an ATM. This payment instrument does not allow exceeding the number of funds on the card account.

There are no significant differences between the systems. The difference lies in the settlement currency, which matters if the purchase is made abroad. For Visa cards, the currency is US dollars. For MasterCard – euros in the EU countries. Differences may affect the conditions for making payments abroad, promotions, and bonuses from payment systems.

The national payment system (BELKART cards) uses the BELKART-Maestro system to pay for purchases abroad. The BELKART debit card also has advantages: it is cheaper to issue and maintain.

Plastic cards are divided into classes according to their functionality and security. The most common gradations: Standard, Classic, Gold, Platinum. The higher the course, the safer and more functional they are, for example, the ability to make remote payments and additional services (gifts from banks and their partners, various discounts). These gradations are not noticeable when paying for goods in stores, but the Standard level is not enough for payments on the Internet.

Using debit cards

In our country, the first debit cards began to appear in the 90s. Their goal was to reduce the share of cash turnover and provide the population with a convenient tool for mutual settlements.

Today, citizens use a debit card to:

• Replenish the account, withdraw, store, and accumulate cash.
• Pay for goods in retail stores and on the Internet through a personal statement.
• Receive wages, pension accruals, allowances, and scholarships.
• Transfer funds from your account to other accounts.
• Pay loans, utilities, etc.

If the card is lost, a person must contact the bank with a request to block it or do it on their own through their account. You can get a new card at the bank branch where the card account is opened. It will protect the user from attacks on his funds by scammers.

Benefits of having a debit card

• Convenience – no need to carry banknotes with you, which require a separate place, and the ability to make payments outside the country.
  • When saving time, you don’t have to look for the right amount and wait for the change when paying for a purchase.
• Efficiency – You can quickly receive money at any time.
• Security – no need to worry about the safety of money. When paying through a terminal or ATM, you will need a pin code known only to the owner.
• The possibility of accumulation – many banks charge% (interest) on the card account balance.
• Gifts – banks offer loyalty programs to customers (a receipt of cashback, overdraft services, online services, etc.).

The dissimilarity between a debit card and a credit card

Externally, plastic carriers almost do not differ from each other. Sometimes, you can find the inscription Debit or Credit on the front side. To avoid unpleasant surprises, users need to know the difference, such as creating debt or writing off commissions.

• Source of income: The debit card stores the plastic holder’s own money, which he earned or received as income. A credit card permits you to spend funds that the bank lends to the user under a signed agreement. In this case, the person must return the paid money within the prescribed period. If there is a delay, interest for use is charged at an increased rate.
• Getting cards: To apply for a credit card, you need to collect a package of documents. Debit cards are issued at the client’s request, which is a private person or an employer.
• Interest accrual: The credit card owner pays interest for the use of the loan provided by the bank. With a debit card, interest is accrued on the balance of money on the card account.
• Limit: A credit card has a credit limit or an overdraft line. Debit cardholders are limited to the amount that is available on the account.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

According to a study by Graydon, 40% of bankruptcies can be prevented. This is a shockingly high percentage, and therefore it is worth looking at how one can avoid bankruptcy. According to the research, several reasons lead to bankruptcy. In this blog, I discuss the three leading causes, and we look at what you can do in advance to prevent them. Thousands of companies go bankrupt every year. This can result from an economic crisis or a sharp decline in the market, but often the cause of the bankruptcy lies within the company itself.

Incompetent entrepreneurship (27%)

The most significant cause of bankruptcy is incompetent entrepreneurship. Insufficient knowledge of the entrepreneur, little experience, no diplomas, no thorough preliminary work, too locally focused or uncompetitive; there are many reasons why an entrepreneur cannot keep his head above water. Without explanation, most failing companies are younger than four years old, and most entrepreneurs that go bankrupt are younger than thirty-six. A necessary precaution is to seek advice in those areas where you fall short. However, this requires some degree of self-knowledge and self-reflection. It is also wise to talk to customers, suppliers, other entrepreneurs, and specialists in your field. As an entrepreneur, it is necessary always to remain alert. Last year, a successful product or business model may now be outdated due to new developments. Therefore, keep a close eye on what is happening in your field of work and make sure you keep up with all products. By continuing to innovate, you prevent your company from becoming obsolete, and you ensure the continuity of your company.

Lack of understanding of the market is a common reason companies go bankrupt. To keep your business running, you must understand your competitors, customers, and market trends. If you do not keep up and your competitor does, it can cost you a lot of customers and eventually even lead to bankruptcy.

The most significant cause of bankruptcy is incompetent entrepreneurship.

Business reasons (18%)

The leading cause here is poor administration and lack of effective debtor management†. In short: the customers do not pay or pay extremely late, and you do not notice it. To please customers, overdue payments are often covered with the cloak of love. However, it is essential to have a good insight into your customer’s creditworthiness and payment behavior. You can pick up signals from changes in payment behavior, which indicate that your customer is not doing well. In addition, part of the cause for this often lies with the entrepreneur himself. Send an invoice on time, charge interest on delinquent payments, and send reminders immediately when the payment term has expired; there is often still a world to win.

Many entrepreneurs know what their cost is. However, it is imperative to know that. This applies to companies that make or sell products, but certainly also to companies that provide services. If you do not see the cost price for your product or service, you also do not know to what extent your company is profitable. Without insight into your cost price, bankruptcy can happen without you noticing it.

Financing problems (15%)

Problems with financing often arise in companies that are already not doing so well. Banks have tightened the reins since the monetary crisis and want the extra security of the funding. When a company is already in trouble, not getting enough financing is often the death toll. An entrepreneur can prevent this by committing to the budget for a longer time in good times, ensuring there is always some room for setbacks, and delving into the different forms of financing. To increase as an entrepreneur, capital is needed. The bank often provides wealth in the form of a current account area. These are short-term debts. However, these debts are often used for far too long, so entrepreneurs must deal with high-interest rates and financing costs for a long time. Instead, you want to pay off your current account as quickly as possible.

Other causes of bankruptcies are still fraud (11%), personal circumstances (9%), competition (6%), and outdated business operations (5%). About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The Five Advantages of Franchise

Benefit1: Remain your boss!

Starting independent entrepreneurs often have a desire to run entirely independently. This is also possible when you join a franchise organization. You are your boss. As a professional and entrepreneur, you build up your clientele and make your own choices.

So, you remain your boss and become part of a greater whole. How about that? If you join a franchise organization, you benefit from the franchise organization’s brand, knowledge, and skills. You are often asked to go along with the image of the franchise organization. The typical appearance of you and the other professionals ensures recognizability among customers.

Benefit 2: Boot support

A franchise organization has many years of experience supporting them in starting their own business. As a result, she knows exactly which steps must be taken to successfully start up her own company. As a professional, you benefit from this. You will receive comprehensive support and advice when starting up your business.

Many franchise organizations also research the feasibility of the new business before starting a new business. Based on this research, the success of your new business is predicted. That way, you know a little bit about what to expect.

Benefit 3: National brand awareness of your company

Most franchise organizations are active nationwide because the affiliated companies are located throughout the country. This gives your company national name recognition.

All affiliated professionals benefit from national brand awareness through national marketing campaigns. The customers know the national marketing brand and see your company in their area. This creates recognition and trust for many people.

Benefit 4: Business support

Both the franchise organization and the professional strive for the same goal: to make the company successful. A franchise organization relies on the success of the affiliated companies. Without excellent and successful professionals, a franchise organization cannot be successful.

Franchise organizations can provide support in several ways. Below we describe three typical examples.

• Operational

management General operational management is one of how support is offered. General business operations mean everything that has to do with running a business successfully. Usually, these are things like sales and calculation. These parts of business management help you earn a good living from your work as a professional.

• Marketing

Earlier in this article, it was about national marketing that you can benefit from as a professional. In addition, franchise organizations also offer support for your marketing as a professional. Usually, you get ready-to-use tools that you can use for local marketing. This is intended to promote your business locally.

• Administration

An entrepreneur always has to do with keeping the administration. This while many (starting) entrepreneurs have had little experience with administration. Therefore, a franchisor can provide administrative support. This can be done, i.e., by taking care of the entire administration, a permanent partner with knowledge of the market, or by offering administrative tools suitable for you as an entrepreneur.

Benefit 5: Always be able to fall back on the bigger picture

Affiliated with a franchise organization, you are an independent entrepreneur, but not alone. You are part of a greater whole. You can use the knowledge and skills of the bigger picture. Because you are affiliated with a franchise organization, you have many fellow entrepreneurs who represent the same brand. This ensures that you can always fall back on these fellow entrepreneurs.

Extra Tips

SMS marketing

SMS is the most effective channel to employ if you are having a sale or want to update your clients about their orders. SMS ensures that your subscribers get and read your messages even when they are offline, thanks to its quick delivery and excellent engagement rates.

For your food business, SMS is an effortless way to get started. The channel is ideal for deals and discounts that you must complete within a specific time. To begin delivering SMS, install a Shopify SMS marketing tool like TxtCart.

Apart from time-sensitive offers, SMS promotions may upsell clients by suggesting things they are likely to buy based on recent purchase patterns.

Loyalty program

Loyalty programs are a tried-and-true Shopify marketing approach. Customers that remain loyal are worth ten times more than those who make their initial purchase. However, how can you persuade your clients to keep communicating with you?

Many food businesses use Shopify to set up loyalty programs to encourage customers to act and earn incentives. This immediate pleasure enables customers to keep connecting with the company to win additional incentives.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Traditionally, people have misunderstandings about mortgages, which make them suspicious when it decides. There are many unknown truths about mortgages, and learning them can benefit everyone. Five benefits of a long mortgage are as follows: 

Building Equity

This equity can be utilized for various purposes, such as weddings or education fees. As a result, consumers believe that a larger mortgage will reduce the equity they attempt to establish. On the other hand, a large mortgage loan can have a minor impact on a home’s overall equity. Consider a $50,000 down payment on a $400,000 property. The remaining $350,000 is the loan balance, which you must repay in 30 years at 4%. The ‘down payment’ represents the initial equity, and if the house’s value increases at 3% per year, it will be worth $722,444 in 20 years. Even if the person can only pay $200,000 of the $350,000 initial payment, this is a significant sum. The difference of $572,444 represents the house’s overall equity. This is accomplished by subtracting the residual loan amount ($150,000) from the home’s overall value. As can be seen, the size of the mortgage has no bearing. This means that you can develop equity regardless of the size of your mortgage.

Low-Interest Rate

Mortgages are one of the cheapest loans a person can get. However, some may argue that credit cards offer 0% interest for six months. But interest rates exceeded 18% in the first six months, and if someone wanted to borrow $100,000 at that high-interest rate and if they needed to repay, they would not be able to repay. It was paid over 30 years. You are only suitable for a loan if you can prove to your bank (or mortgage company) that you can repay the loan within the allotted time. The higher the bank’s confidence in an individual’s repayment ability, the lower the interest rate. In this case, the mortgage is the type of loan that has the least risk on the part of the bank. The bank can claim a mortgage if the borrower fails to repay the loan. So, interest rates are so low that it makes sense for people to take advantage of them.

Tax-Savings

Mortgage interest is beneficial for tax filing, as mortgage interest is tax-deductible. For example, interest paid up to $1 million to buy a home is tax-deductible. If the borrower buys a 5% mortgage with a 33% tax rate, the cost of the loan will be 3.35% tax. On the other hand, if he invests 5%, the profit will be taxed at 20%, and the profit after tax will be 4%. Therefore, the investment can return less than the amount paid by the loan, increasing the profitability of the loan.

Easier EMIs in long-run

For most borrowers, it can be challenging to pay a mortgage in the initial stages of the loan being first withdrawn. However, in the case of a fixed interest rate loan, the amount will be less than the monthly income. Such loans do not increase your monthly payments, but your income grows steadily. On the other hand, the value of a home can also increase significantly over time. Borrowers who buy a home with a single down payment may be missing this vast profit.

Allows Better Investments

Consider a scenario where a person buys a second home for money he received from the sale of the first home. For example, if he gets an amount of $300,000, should he consider spending the total amount to buy a new home for $500,000, or with a down payment of $50,000 and use the rest as an investment? Is it wise to do it? Most people will argue that spending the total amount is applicable. In this case, you only must repay $200,000, and it is easy to do. However, the second option is one that individuals need to consider if they want to build wealth eventually. By investing the remaining amount at a much higher interest rate, he can get enough income from his earnings and enjoy a more significant tax credit. With the tax savings thus saved, you can repay even large loans at slightly higher interest rates. Borrowing a considerable loan and using the return on investment to pay for EMI is always better than a small mortgage with no return on investment.

These are some ingenious reasons borrowers may benefit from a large mortgage. People usually ‘pity’ someone who has a large loan because PITI (Principal, Interest, Taxes, and Insurance) characterizes mortgages. On the other hand, these advantages may function as a wake-up call.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When advanced computers began to appear in the 1980s, and the prospect of the development of the Internet echoed in the air, many thought that digital technologies would make work easier, leaving more time for personal life.

After 20 years, not a single office could do without computers. The digital technology revolution has not just happened but triumphantly marched around the world, covering all areas of activity. But the next massive leap in computer technology was yet to come. Today, a person’s life in a developed society is unthinkable without a smartphone or other portable device that provides Internet access everywhere. And this means that your work accompanies you around at any time of the day, not just in the office for 8 hours a day. As a result, technology did not make life easier but only increased work productivity, distributing it in a thin layer over a sin. Home dinner must be combined with business correspondence with the chef and walking with a girl; you suddenly remember that you must check your e-mail urgently. And so, it becomes increasingly often until your life turns into routine maintenance of your career. Subsequently, this can lead to burnout and stress. You can avoid this if you find the right balance between work and personal life.

What does work-life balance mean?
The modern rhythm of life of many people looks like some interests are superimposed on the framework of other goods. You will not surprise anyone with the phrase “I’ll be late at work,” “let us meet next weekend. Otherwise, I am working this”, etc. There can be several explanations why a person imperceptibly refuses his personal life. Lack of money and career ambitions are one side of the matter, material and therefore more meaningful. But there is another – psychological. A forced workaholic can cause dissatisfaction with personal life. The cause and effect are flipped, but the negative impact on the person remains the same. Balance allows you to equally appreciate both components of life – work and pleasure, which not only do not mutually ban each other but bring additional meaning.

How important is the balance?
The fact is that high professional employment in our time is no longer perceived as a forced sacrifice. Violation of the balance between work and life in favor of the first is becoming increasingly popular, turning into a fashion trend that indicates the demand or success of a person. It has gotten to the fact that many perceive the intervention of work in personal life as the only way to secure a high working status and remain competitive in the eyes of the head. This opinion is erroneous and resembles an attempt to justify the inept distribution of working time or unwillingness to do something else. We do not intend to discredit overtime work as such. You are working above the norm. For example, at the rudimentary stage of a career, the initial stage of a business, or when managing a complex project. But when it becomes an endless series of filling in the gaps, we are talking more about the wrong approach. Your productivity in the workplace is unlikely to improve if you give yourself carte blanche to fix things at home. In addition, by reducing attention to other aspects of life, at some point, you may believe in their lesser significance. If you push into the background, say, the relationship with your girlfriend, then in return, you will receive a corresponding negative response. And this will be another erroneous argument for the importance of work over personal life.

Instead of personal life, we choose work. The catchphrase often justifies excessive devotion to one’s profession: “Choose a job you love, and you won’t have to work a day in your life.” This statement can be accepted as accurate, with the only amendment that the love of one’s work does not exclude the significance of everything else. If your favorite dish is fried chicken, then this does not mean that you should exclude all other foods from the diet.

Other parts of your life require just as much attention. It is great luck to find your favorite thing, for which, moreover, you can get good money. But think about whether you would agree to this if it deprived you of the other pleasures of life. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Why Every Firm Should Consider a CPA for Success

Why firms need a CPA goes far beyond basic tax preparation—a certified public accountant serves as your strategic financial partner who identifies tax savings averaging $12,000 annually, prevents costly compliance failures, and transforms financial chaos into sustainable growth through expert cash flow management and business structuring[8][11]. The difference between businesses that merely survive and those that strategically thrive often comes down to one critical decision: partnering with a CPA who brings specialized expertise in tax optimization, regulatory compliance, and financial strategy.

As the founder of Complete Controller, I’ve witnessed firsthand how businesses transform when they move from reactive financial management to proactive strategic planning. Over 20 years of supporting companies across every industry imaginable, I’ve seen the pattern repeat: businesses struggling with cash flow, missing tax credits worth thousands, or facing surprise audits that could have been prevented. The right CPA partnership changes everything—from uncovering $120,000 in missed tax credits for a restaurant group to saving a food truck owner $1,000 monthly while clearing dangerous compliance issues[10][8]. This article reveals the concrete ways CPAs drive business success, backed by real case studies and the financial data that proves their value.

Why should every firm consider a CPA for success?

• Firms need a CPA for strategic tax planning, compliance management, audit defense, and growth-oriented financial guidance
• CPAs identify an average of $3,534 in annual tax overpayments that DIY bookkeepers miss[19]
• Professional CPAs help businesses capture the 70% of tax credits that go unclaimed each year[11]
• Expert financial management prevents joining the 82% of businesses that fail due to cash flow problems[16][17]
• CPAs provide audit representation that saves $4,000-$20,000 in defense costs when IRS issues arise[6]

Strategic Tax Planning: The Hidden Profit Center Most Businesses Miss

CPAs transform tax season from a dreaded expense into a strategic profit opportunity through year-round planning that captures every available deduction and credit. Small businesses routinely leave money on the table simply because they lack awareness of available tax benefits or the expertise to claim them properly.

The distinction between deductions and credits illustrates why professional guidance matters. A $5,000 deduction might save $1,000 at a 20% tax rate, while a $5,000 credit saves the full $5,000 in tax liability[11]. Yet approximately 70% of eligible small businesses fail to claim tax credits they qualify for, including the Research and Development Credit, Work Opportunity Tax Credit, Employee Retention Credit, and Disabled Access Credit[11].

Consider these real-world results:

• A 3-unit restaurant group recovered $120,000 in federal tax credits through the Work Opportunity Tax Credit program—savings their previous accountant never identified[10]
• An Ohio restaurant claimed $20,000 in R&D tax credits for recipe development and POS system modifications[15]
• A Jacksonville food truck saved $1,000 monthly ($12,000 annually) after a CPA restructured their tax approach[8]

CPAs also optimize business structure for maximum tax efficiency. Converting from an LLC to an S-Corp can reduce self-employment tax burden by 50% or more for businesses generating substantial profits[1]. For a business owner earning $150,000 annually, this structural change alone could save over $10,000 in self-employment taxes each year.

Building Bulletproof Compliance: Protection Against Costly Penalties

The scale of tax non-compliance reveals why professional guidance proves essential. The federal tax gap reached $688 billion in 2021, with small businesses accounting for $271 billion through underreporting alone[3]. This massive compliance failure stems from three primary causes that CPAs systematically address:

• Poor Record-Keeping: Without organized financial records, accurate tax reporting becomes impossible, creating audit risks and potential penalties[3].
• Entity Misclassification: Operating under the wrong business structure leads to years of unnecessary tax liability or compliance violations[3].
• Regulatory Complexity: Constantly evolving tax obligations exceed what business owners can reasonably track while managing operations[3].

Audit rates vary significantly based on business income:

• Under $25,000 gross receipts: 1% audit rate
• $100,000-$200,000 gross receipts: 2.4% audit rate
• Over $1 million gross receipts: 4% audit rate[6]

When audits occur, costs mount quickly—correspondence audits cost $2,000-$4,000, office audits run $4,000-$10,000, and field audits exceed $10,000-$20,000[6]. CPAs provide audit defense infrastructure that reduces both audit probability and impact, legally representing clients in IRS discussions while maintaining the documentation quality that expedites resolutions.

Cash Flow Mastery: Preventing the #1 Business Killer

Cash flow mismanagement causes 82% of small business failures, making it the single largest threat to business survival[16][17]. The paradox strikes growing businesses hardest—companies can double revenue while simultaneously approaching financial crisis if cash conversion cycles aren’t properly managed.

CPAs prevent these crises through sophisticated forecasting and working capital optimization:

• Cash Conversion Analysis: Examining the timeline between spending cash and collecting revenue to identify bottlenecks
• Payment Term Negotiation: Structuring supplier and customer terms to maximize cash availability
• Inventory Optimization: Reducing cash trapped in excess stock without sacrificing sales capacity
• Strategic Debt Structuring: Creating working capital buffers for growth periods or operational slowdowns

Small business owners spend over 20 hours monthly on financial tasks, representing $36,000 in annual opportunity cost at $150/hour[19]. Meanwhile, 40% consider themselves financially illiterate, and 60% lack sufficient accounting knowledge[19]. CPAs eliminate this knowledge gap while freeing owners to focus on revenue-generating activities.

Real-World Transformations: Case Studies That Prove CPA Value

Manufacturing turnaround success

A manufacturing company struggling with inefficiencies partnered with a CPA firm specializing in operational analysis. The CPA team identified $50,000 in annual cost savings through process improvements, renegotiated supplier contracts saving 15% on materials, and implemented inventory management systems reducing carrying costs by 20%[9].

Restaurant group tax recovery

Beyond the $120,000 Work Opportunity Tax Credit recovery mentioned earlier, restaurant CPAs regularly identify industry-specific savings:

• Menu engineering analysis improving profit margins by 5-8%
• Labor cost optimization through scheduling efficiency
• Vendor consolidation reducing food costs by 3-5%
• Equipment depreciation strategies maximizing cash flow[10][15]

Selecting Your Strategic Financial Partner

Not all CPAs offer equal value—choosing the right partner requires evaluating specific criteria:

• Industry Experience: CPAs familiar with your sector understand unique challenges and opportunities
• Proactive Communication: Regular strategic meetings, not just annual tax preparation
• Technology Integration: Modern accounting systems providing real-time financial visibility
• Advisory Mindset: Focus on business growth, not just compliance
• Team Depth: Resources to support your business as it scales

Red flags to avoid include CPAs who only contact you at tax time, lack familiarity with your industry, resist technology adoption, or treat you as just another tax return rather than a strategic partner.

Final Thoughts

After two decades helping businesses navigate financial complexity, I can state definitively that partnering with a qualified CPA represents one of the highest-ROI decisions any business can make. The evidence speaks clearly: from preventing cash flow failures that destroy 82% of small businesses to capturing tens of thousands in missed tax credits, CPAs deliver measurable value that far exceeds their cost.

Your business deserves more than reactive bookkeeping—it needs proactive financial strategy that drives growth while protecting against costly mistakes. The team at Complete Controller combines CPA expertise with modern technology and industry-specific knowledge to transform your financial operations from a source of stress into a competitive advantage. Visit Complete Controller to discover how strategic financial partnership can accelerate your business success.

Frequently Asked Questions About Why Firms Need a CPA

What is the main difference between a CPA and a general accountant?

A CPA (Certified Public Accountant) has passed rigorous licensing exams and completes mandatory continuing education, qualifying them to perform audits, represent clients before the IRS, and provide strategic tax planning—services general accountants cannot legally provide[5][9].

When should a small business hire a CPA?

Hire a CPA when your business reaches $100,000 in revenue, faces complex tax situations, plans major growth initiatives, needs audit representation, or when financial management consumes excessive owner time[5][13][17].

How can a CPA help with business financial planning?

CPAs provide cash flow forecasting, budgeting, scenario analysis, and strategic guidance that enables informed decisions supporting sustainable growth while avoiding common financial pitfalls[1][18].

Are CPA services worth the cost for startups?

Yes—CPAs help startups avoid costly entity selection mistakes, identify startup-specific tax credits and deductions, establish scalable financial systems, and prevent the cash flow failures that kill most new businesses[5][14].

What compliance areas can a CPA help with?

CPAs monitor and maintain compliance with federal and state tax requirements, payroll regulations, industry-specific reporting obligations, sales tax collection, business licensing requirements, and audit preparedness[3][17].

Sources

• “Benefits of Hiring a Certified Public Accountant.” Gogerty & Associates PLC.
• “How to Reduce Compliance Costs.” Clearline CPA.
• “6 Benefits of Hiring a Certified Public Accountant.” Carpenter Evert & Associates.
• “How Clear Communication with Your CPA Can Save You Money.” Finney, Neill & Company.
• “Do I Need a CPA for My Small Business?” 1-800Accountant.com.
• “How a CPA Can Help You Optimize Your Business Tax Strategy for Maximum Savings.” Cartier CPA.
• “How CPAs Can Help Restaurants and Retailers Save Thousands.” Prudent Accountants.
• “When Should You Hire a CPA?” Business News Daily.
• “The Role of a CPA in Business Tax Planning and Compliance.” Accounting Complete.
• “How Certified Public Accountants Support Business Growth and Compliance.” The Fino Partners.
• “Top Cost Reduction Practices for U.S. CPA & Accounting Firms to Maximize Profit.” The Fino Partners.
• “PwC US Careers: Why CPA?” PwC Careers.
• “The Role of CPAs in Business Restructuring.” Andrea Ward CPA.
• “How Much Will A CPA Cost (And Save) Your Small Business?” 1-800Accountant.com.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

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As an entrepreneur, you do most or even everything yourself, which makes it so nice that you understand your bookkeeping program inside and out. You cannot do bookkeeping easily if you do not understand the parts of the program.

You must be able to understand what you are doing anytime, anywhere. And only a few programs are capable of providing that accessibility.

Below is the only overview you will ever need as it provides the most accessible accounting programs of the moment. These programs are capable of everything you could ever need from an easy program.

Your bookkeeping becomes easier because you can pleasantly manage your books. And that will also make your life as an entrepreneur easier. Read on for the entire top five!

Easiest accounting program: Reeleezee

Reeleezee says it all with the name: Easy bookkeeping. As easy as Reeleezee is as an accounting program, it is not in the top three. And that is because it is a young player who has the right intentions but is not there yet.

Would I recommend Reeleezee right away? No, the other players in my top five are too good for that. No accounting program insists on the most accessible aspect that you would expect the absolute best from Reeleezee. Unfortunately, that is not the case, which causes some disappointment when I dive deeper into the accounting program.

In addition, Reeleezee is pricey compared to some alternatives. If you want to be able to book properly, you will lose at least $25 per month. And that is absurd for what you get.

Easiest accounting program: DigiBTW

DigiBTW manages all this a lot better. Although DigiBTW is not a very extensive accounting program, which you do not expect from this, it is a lot more for your money than Reeleezee.

What DigiBTW does well is that it is just incredibly easy. Super simple and super affordable, according to DigiBTW. And with € 10 per month, you really cannot complain. For this, you get a user-friendly accounting program that has no limitations. So, you get access to all functions of the program. You can count on the support of this company if you are unable to find a solution.

DigiVAT is a great stepping stone for those who want to be able to book easily and quickly. Not the most professional program, but a more than deserved fourth place. Especially for that $10 a month.

Easiest accounting program: Red tape

Rompslomp has scored several times in the top three of my most popular accounting lists this year. In my overview of accounting programs with the best value for money, it even has a top ranking. Not a deficient performance for a program that has only been around for some time. For now, Rompslomp is simply worth a top three listing. However, it would not surprise me if Rompslomp also ranks higher here within a year.

Red tape wants to make bookkeeping as pleasant as possible. It does this for as many branches as possible, whether that is the construction or design sector. Everything is kept simple so that you can easily find your way in the accounting program. This is for a very reasonable price of $10 per month. And if you want to do it entirely cheaply, you can opt for the free package. This package is equipped with a surprising number of functions that you do not have to pay for.

Easiest accounting program: Moneybird

Moneybird is, according to the latest figures, the most popular accounting program among sole traders. Entrepreneurs know where to find Moneybird because Moneybird is recommended first in many large Facebook groups. And Moneybird does not owe that to the fun name.

Everyone can use this accounting program. As a beginner, you can easily explore the accounting program by means of balloons, extensive manuals, and FAQs. An explanation can be read for each function so that you subconsciously learn how parts work. This strengthens your knowledge of the accounting program and accounting in general—quite an achievement from Moneybird.

Easiest Accounting Program: Tellow

Tellow shows that it can be done more beautifully and easier. After using Moneybird for the first time in 2015, I never expected that in 2020 there would be a more straightforward accounting program. Tellow has proven otherwise. Everything you would like to see from a sole proprietorship accounting program can be found in Tellow. Functions are excellently developed and beautifully and user-friendly designed.

If Moneybird is the obvious choice for Windows, surely Tellow must be for Apple. Everything feels intuitive and natural. This allows you to float through the functions, as it were, and your accounting is done in no time! 

The main reason Tellow earns the label of easiest accounting program is that it helps you with everything. Every aspect of your accounting is taken care of by Tellow. Without you distancing yourself from your accounting. You take every step yourself. This gives you complete control without investing a lot of time and energy in your accounting.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

True crypto enthusiasts regard Bitcoin as the money of the future, while skeptics predict it will inevitably crash. The debates are quite extensive, and there are conflicts of opinion even on many basic matters. Bitcoin, for example, appears to have been created as a form of payment in the past, but increasingly people today perceive Bitcoin as primarily a new investment category. People also disagree on whether Bitcoin will replace the current system or whether it will just be a new financial product alongside all the others.

For some, cryptocurrencies are an elusive form of payment. However, several currencies, including Bitcoin and Ethereum, have recently seen a surge in popularity. Companies are increasingly investing a portion of their money in cryptocurrencies. Bitcoin and other cryptocurrencies are no more frowned upon; in fact, the first e-sale of a property in the Netherlands was completed using Bitcoin. Is cryptocurrency, then, the currency of the future?

The Price of Cryptocurrency

Cryptocurrencies have been around for around ten years, although it has received greater attention in recent years. This is also because the market price of cryptocurrencies has shifted dramatically in a good direction around 2020. People were seeking new investment methods because of the recession and low-interest rates on savings accounts. Moreover, more prominent organizations’ faith in cryptocurrencies grew, driving the worth of the coins to skyrocket. Since the price of cryptocurrencies is determined by the value given to them. The trust in currencies increased significantly, and Bitcoin, Ethereum, and Ripple reached new highs earlier this year, resembling those seen earlier this year on their way to new highs. This boosted faith in these currencies even further.

Do not want to miss the boat

The concern as to whether cryptocurrencies will eventually replace traditional currencies is a major one. That will be something that lasts a long time. Nonetheless, there have been some exciting advancements in the area, and cryptocurrencies are becoming more widely accepted as legitimate money in the future.

The European Union, for instance, implemented several restrictions for the crypto industry in 2020. These restrictions ensure that future inventions and advances will be more readily adopted. Because of the rising confidence in crypto technology and its improved security, the future of cryptocurrencies appears bright.

Would you like to avoid missing Bitcoin, Ripple, and other crypto coins? After that, you may create a new account with a dealer like Litebit. After that, you can invest a portion of your wealth or savings that you are willing to invest in cryptocurrencies. Remember that these are highly volatile currencies. As quickly as the coins increase, they could also fall precipitously due to negative news.

As a result, ensure that you may lose the wealth you spend in terms of investing and that you are up to date on any crypto-related events.

Can you borrow in Bitcoin?

Bitcoin is difficult to utilize because it has zero-sum game characteristics. You can lend and deposit simultaneously with ordinary money, besides paying. In the case of Bitcoin, the return, whether positive or negative, is ultimately determined by the Bitcoin price. Therefore, the fortune of someone who takes out a Bitcoin loan is, by definition, inverted to that of the investor. People who bought Bitcoin at the start of 2020 and can collect their earnings at a much higher price are receiving a lot of attention. However, someone who would have taken out a home loan in Bitcoin, for example, has seen the value of his debt in ordinary money skyrocket and is very certainly insolvent. I am not aware of how many individuals have taken out a Bitcoin loan.

The underlying issue is that there is no core Bitcoin economy in which all revenue and costs are represented in Bitcoin. Ethereum (or any other crypto, for this kind of matter) can only do a poor job of fulfilling the role of money if people’s daily income and spending are in traditional money.

Extra tip

However, Bitcoin does serve as an asset, although one with a significant level of risk owing to its tremendous volatility. As a result, the most significant probable function for Bitcoin in the upcoming financial system appears to be that of an asset.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Criminals will speculate on your feelings, promise mountains of gold, and disguise themselves as bank employees or government organizations to lure money out. Anyone can become a target of criminals, and it does not matter if he uses a bank card or chooses to pay in cash. Fraudsters know how to swindle money online, using calls and SMS, in social networks and offices.

Expert Opinions

Experts also advise – that when paying in cafes, restaurants, and supermarkets, do not give your card to the cashier or waiter but apply it to the payment terminal yourself. If you notice suspicious transactions, immediately block the card through the mobile application or the bank’s call center. Do not turn off SMS notifications about transactions in order not to miss suspicious charges. Card blocking is a reliable guarantee that suspicious transactions will not be repeated. And to understand how the suspicious write-off happened, you must immediately contact the law enforcement agencies and the security service of your bank.

How to avoid fraud on your credit cards?

1. Before withdrawing money from an ATM, inspect it. There must be no foreign objects on the card capture reader. The keyboard must not wobble. It is enough to use such an ATM once and not cover the keyboard with your hand while entering the PIN code – and your money can be withdrawn, transferred to several accounts, and cashed out. Even in a cafe or shop, your card details can be stolen. An attacker could be a merchant who gets access to your card for at least five seconds. Having photographed your card, he will be able to use it for payments on the Internet.
2. When typing the PIN code, cover the keypad with your hand. Do this even when paying with a card in a cafe. If you receive a Confirm Purchase notification and a code, and then a call is heard again from an absent-minded person who says that he has entered your phone number by mistake and questions to dictate the code to him, by no means do this. Fraudsters are trying to swindle your code to deduct money from your account or sign you up for an unnecessary paid service.
3. Connect mobile banking and SMS notifications. Let us say you still withdraw money only at the bank’s money desk and do not pay by card at all. You feel safe. Suddenly, you receive an SMS or a letter from a bank with a link, a request to call back an unknown number, or a notification of an unexpectedly big win. Or they call on behalf of the bank and ask for personal data, a PIN code from a card, or an SMS confirmation number. Or they report on social networks on behalf of relatives or friends who suddenly got into trouble (hit the police, got hit by a car, stole a bag) and ask to share a certain amount of money to an unidentified account. In 99.9% of cases, you are negotiating with scammers.
4. If you make purchases via the Internet, do not tell anyone the secret code to confirm transactions that come to you via SMS. If you receive an SMS about the crediting of funds (and the message looks like a familiar bank notification) and then a slacker who mistakenly credited you with money and asked for a return call, do not rush to return anything. This situation is more like a dishonest scheme: the money did not come, the SMS was not from your bank, but the attacker called you. Check your account status, order an online bank statement, or contact the bank before transferring money to someone.
5. Do not give out personal data to anyone, and even more so, passwords and codes. Bank employees do not need them, and fraudsters will be given access to your money. Do not store card data on a computer or smartphone. Check the information. If they suggest that you won something or that money was accidentally debited from your card and you need to give your details to stop the operation, end the conversation and call the bank at the phone number revealed on the back of your card. Try never to lose sight of your card.

Conclusion

Many payment systems have developed contactless payment technologies to speed up and simplify cashless payments for purchases. When paying with such a card, you do not need to enter a PIN code as well as put a signature on the check if the amount does not exceed one thousand dollars. A particular POS terminal reads information from the card at a distance and makes it clear with a sound or visual signal that the required amount has been deducted from it. Often, fraudsters use psychological tricks to control a person’s actions to steal money from a card. They portray buyers of puppies, cars, land, garages, etc., on free classified sites or social networks.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

He completes assignments on time and within agreed-upon conditions, works consistently to reach the objectives, and seeks to complete work without errors.

It is easy to say that these are the characteristics of a professional accountant. But how do you make them a reality? You should develop these six behaviors to run a successful accounting firm.

Full knowledge of finances

Keeping track of data connected to spending and payments is a habit that enables proper management and planning of your company’s or clients’ next steps.

Knowing your cash flow situation allows you to identify needs and priorities, which leads to making the best decisions possible.

Of course, this is in addition to avoiding mistakes like inputting incorrect numbers or having duplicate data. We are talking about scenarios that can be avoided by following some basic accounting principles.

Check for updates

A successful accountant devotes a portion of his time to staying up to date in his industry. Learning about new regulations and legislation allows you to ensure that your job is efficient and dependable.

Knowing what IFRS is and how they are used in SMEs, for example, allows you to act in line with the law and avoid any complications with the authorities.

Communicates on time

Communication between the accountant and the client is essential. It can determine whether you succeed or fail. When significant financial events in an organization are not reported, there is a risk of making decisions that are not in sequence with what occurs.

Making decisions with only a portion of the information available makes it easier to make errors. Furthermore, in many cases, this might lead to bankruptcy. For example, not disclosing bonus payments can result in gaps, making cost control hard.

Use a schedule

Any field, including accounting, benefits from increased productivity. Doing more in less time -and more efficiently- involves avoiding delays, managing obligations on time, delivering reports on time, etc. A calendar allows you to visualize all your tasks and so employ time management tactics like:

• Keep track of your assignments with to-do lists
• To define action paths, make thought maps
• Divide your time into work blocks using the Pomodoro technique

Back up your information & relies on technology

Many people keep backup copies of their data on external hard drives, but even then, there is no guarantee that it will not be lost, corrupted, or exposed to third parties.

Because all these devices, including your computer, can be damaged, cloud storage is the greatest solution for managing your and your client’s data.

Saving files on external servers increases security because the location from which you wish to access them is irrelevant; all you need is a device and an Internet connection.

We live in the digital age, and the tools available on the market enable us to achieve and optimize various accounting operations. Excel is, of course, still necessary. There are, however, more options.

An ERP system, for example, allows a corporation to oversee numerous areas such as organization, accounting, and inventory. On the other hand, accounting software is good for managing money because it is a cost-effective solution that assists both freelance accountants and small and medium-sized businesses.

An effective accountant adjusts to a market that is always changing and digitizing. True, more training and effort are required. The outcomes, however, are satisfactory.

Apply accounting in your personal life

An accountant cannot be effective if he cannot manage his own finances: how can he manage the resources of a small business if he cannot manage his own? Any result obtained will always be consistent with the person who accomplished it.

Starting with proper personal money management is the greatest method of learning how to control and record business costs.

Practicing these six habits can help you become a competent accountant, allowing you to meet your clients’ needs or the organization you work for.

The market is brimming with opportunities, and only those that dare to be the greatest will be able to establish themselves as industry leaders.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.