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Protea Conversations: Margarita Wear

Protea Conversations: Margarita Wear

Protea Financial was founded in 2014 to provide high quality outsourced bookkeeping and accounting at an affordable price.  Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the workforce after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were previously overlooked.  Protea strives to represent people from all backgrounds and provide an environment for them to grow and succeed in a setting that provides the flexibility and acceptance of who they are as people.

We selected the name Protea because it is the national flower of South Africa and is a symbol of our connection. The Protea flower has become an ornamental flower because of this striking beauty and is included in arrangements and bouquets as a symbol of courage or daring to be better or a sign of positive transformation.

Protea Conversations in 2022 will focus on positive transformation and representation from all backgrounds. We are broadening our Conversations with the hope that these conversations will continue to create a forum to discuss the experiences, opportunities, and challenges leaders face, and how we can build a more diverse, inclusive, and successful environment for everyone.

In June we have a conversation with Margarita Wear of Maier Law Group. Margarita guides employers in preventing and addressing workplace conflict by conducting workplace investigations, mediations, and trainings, and providing proactive and business savvy advice to employers regarding employment and personnel issues. Margarita’s investigation practice includes both workplace and educational institution (Title IX) investigations. Margarita completed the Association of Workplace Investigators (AWI) Training Institute and is an AWI Certificate Holder (AWI-CH). Margarita’s mediation practice includes both workplace mediations and mediations of civil disputes. Margarita has received mediation training from the Mediation Offices of Steven Rosenberg. She is a mediator for the County of Alameda Day of Court Program.

Before joining Maier Law Group, Margarita worked as general counsel for several hospitality companies, where she counseled the companies regarding employment and labor matters and oversaw Human Resources departments. Margarita’s in-house experience gives her a unique perspective when advising clients, allowing her to give practical and business-minded legal advice. Margarita has also worked at several law firms where she defended companies in the hospitality, retail, financial, real estate, and technology industries in wrongful termination, retaliation, wage and hour, and breach of contract litigation. Margarita is recognized for her ability to achieve great results for her clients, including getting complaints against her clients dismissed and reaching effective compromises. 

Outside of the office, Margarita enjoys spending time with her family, going to Giants games, and playing tennis.

Tell us about your decision to become an attorney and your journey from associate to Partner on Maier Law Group?

My grandfather was an attorney and following in his footsteps was always something I considered, but it was also a bit of process of elimination. I’m terrible at math so I knew a job dealing with numbers was out. I took whatever legal classes were offered in college and really enjoyed them. My first job out of college was an admin position at a law firm. I enjoyed that too, but I wanted to be the one writing the briefs and arguing them, so I studied for the LSAT and applied for law school.

Before joining Maier Law Group, I worked at several law firms and held several in-house positions. When I was in-house, my company hired Maier Law Group to conduct a workplace investigation, and I just really enjoyed working with the people at the firm. I know it’s unusual for an attorney to move from an in-house position back to a law firm, but I was getting burnt out from my hours-long daily commute and not being able to spend as much time with my family as I wanted, and Maier Law Group’s emphasis on balance and finding joy in the law really resonated with me. I reached out to my now partner, Diana Maier, and told her that I was interested in joining the firm. Fortunately for me, the feeling was mutual and I joined Maier Law Group as a Senior Counsel. It truly was (and is) the perfect job for me. I think Diana recognized that I felt (and feel) that way and offered me the Partner role because she saw it as a long-term fit as well.

Protea Financial Margarita Wear Lawyer

What has been the biggest challenge you have experienced in reaching your current success (personally and professionally)?

It was realizing that in order to achieve professional success in the way it’s defined in law firms, I would not achieve personal success the way I defined it as a wife and mother. The biggest challenge was trying to figure out how achieve both. I was fortunate enough to find a firm and team that values both.

What are your short-term goals of your career and yourself?

Professionally, I’d like to work more strategically and take projects and get clients that are in line with the firm’s long-term goals and vision.

Personally, I’m trying to enjoy the last month I have at home with my four-month old son, before he starts daycare.

What is the best piece of advice you have ever received that has helped you in your success?

Progress, not perfection. I’m pretty Type A and I found that in trying to achieve perfection, I would sometimes find myself paralyzed on how to start something or what my next step should be. Focusing on progress rather than perfection removed that paralysis and helped me enjoy and appreciate the smaller achievements on the way to achieving the end goal.

What is the piece of advice that you wished you had gotten when you were starting out?

Be yourself. When I got my first job out of law school, I was a litigation associate and worked with and against mostly men. As a young, Filipina attorney, I felt like I had to act in a certain way to prove that I belonged and was capable. You often hear clients say that they want a “bulldog” attorney representing them in litigation. I’m more collaborative and practical in nature so the “bulldog” attitude never really resonated with me. Plus in my experience, that attitude resulted in every little thing being a fight with the other side, which resulted in more legal costs for my clients. You can be an effective and zealous advocate for your client by using your personal strengths rather than trying to act how you think others want you to act.

What advice you give to others to help them be better leaders?

Don’t lose your compassion just because you reached a leadership role. Treat your employees well.

Protea Financial Margarita Wear Tennis

Can you share something interesting about yourself that will provide insight into who you are outside of the professional space?

I’ve always enjoyed being active, so I enjoy hiking with my husband, 3 kids, and our dog. I grew up playing sports and missed doing something competitive (as I mentioned, I’m Type A), so I picked up tennis as a hobby during the pandemic and I’ve really been enjoying playing.

As a thank you to our interview and Protea’s commitment to more diverse and inclusive leaders, Protea will donate to Positive Images (https://www.posimages.org/). Positive Images is a grassroots nonprofit organization serving Sonoma County since 1990. Their LGBTQIA+ Community Center hosts multiple weekly support groups, a youth leadership development program, mentorship opportunities, an LGBTQIA+ Library, resource and referral station, and a Transformation Station. They proudly offer a warm, welcoming, and affirming environment for young people to explore their individual identities, develop leadership skills, and contribute to our collective community. Positive Images staff lead LGBTQIA+ Cultural Competency Trainings and presentations that educate the greater community focusing on human connection, compassion, and inclusion. Their goal is a community where all LGBTQIA+ people are valued, compassionate community members, creating a just society.

Call Protea Financial for More Information

Interested to find out more? Contact Protea Financial and we can help!

Supervisory Training – A Critical Investment

Supervisory Training – A Critical Investment

As with many cycles in business and life, our country has reached a point in time when generations are moving into different stages of their lives, giving rise to new opportunities for less experienced individuals.  The shift brings about a mixed bag of challenges and benefits.  There is likely sadness and some grieving as experienced, tenured leaders phase into retirement and turn the reins over to the next generation.  Similarly, there could be enthusiasm and excitement for the changing in tides resulting in new energy and ideas.

In addition to the emotional roller coaster are the challenges companies face when they find themselves in a position where a larger percentage of their newly promoted supervisors are green and require development to reach the same level of experience as those leaving the organization. Companies that recognize the shift and proactively invest in building leadership throughout their organizations now will reap the rewards of those efforts for years to come. Most importantly, an organization that chooses to invest in its leaders shows that they care about their development, which results in leaders who are motivated, confident, and loyal.

Many individuals are promoted to supervisory positions because they became technical experts in their previous jobs.  Transitioning from individual contributor to having one’s job success depend upon the efforts of others is challenging, especially when they were once your peers. New supervisors must understand that their new role is to achieve results through directing, motivating, and managing the work of others, and that can be a very difficult reality to come to without proper knowledge and tools. It requires mastering a new set of skills. Leaving a new supervisor to figure it out for themselves is a recipe for frustration and higher turnover at best and failure for the individual if not organization as a whole at worst.

Protea Financial Overwhelmed Boss

Scenario I

An individual is promoted to supervisor, leading a small team. The new supervisor had mastered the skills required to do the job and seemed eager to take on their new role, feeling motivated to work even harder than ever before. Recognizing all the normal challenges they have heard from peers who were also recently promoted, they decided to take their commitment to the company, and their new position, to a different level. As new projects came in, the supervisor took them on instead of delegating. Soon after assuming the role, the supervisor was so busy they didn’t have time for their direct reports, and they became a bottleneck in the system. Other employees were less effective and frustrated. The supervisor felt overworked and angry that they were doing all the work. As a result, turnover increased.

 

What happened?

In a lot of cases, new supervisors love the work they do and letting go is difficult. Often supervisors stay in the weeds for a few reasons including a fear of failure, a desire to impress their bosses, and ensuring the job is done “correctly.”  The supervisor in this example was a skilled worker, but they didn’t know how to manage. Effective supervisory training would give this supervisor the tools they need to direct, motivate, and achieve results through the efforts of others.

Protea Financial Taking Sides

Scenario 2

This supervisor, a long-time vineyard worker, was promoted to Crew Lead in recognition of their hard work and dependability. Everybody liked the recently promoted supervisor, their competence, and their work ethic. The supervisor was a good friend to all. In this new role, they were expected to communicate company objectives to the crew, give performance feedback, and manage conflict as well as train and support the members of the work crew. When a problem arose between two team members, the employer asked the supervisor to take corrective action. The supervisor responded by taking sides, which caused other employees to take sides and the conflict deepened.

 

What happened?

In an ever-changing work environment where communication practices become increasingly difficult,

supervisors must learn how to resolve conflict and uphold standards set by the company without being influenced by historical work relationships. Employers sometimes overlook the reality that the knowledge and interpersonal skills required to do technical work well are often very different from the people skills required to succeed and thrive in a job supervising the work of others. By learning a few different approaches to communication, this supervisor could have handled the situation more effectively and earned respect from old peers in their new role.

Protea Financial Improper Training

Scenario 3

In this third and final example, the newly promoted supervisor had the communication skills and ability to effectively lead their team, but they lacked the training to recognize potential employment risks. As a result, when one of their direct reports began to have attendance issues, the supervisor was quick to want to terminate the employee.  In a feedback discussion, the employee divulged that they have a medical condition they are struggling with and that has been the cause of the attendance issues.  The supervisor told the employee that they are sorry they have medical issues, but they cannot continue to tolerate the absences and tardiness because it is causing an increase in everyone else’s workload. The employee quit on the spot and filed a claim against the employer stating they were coerced to quit and it was retaliatory on the basis of their medical condition.

 

What happened?

Unfortunately, in this scenario, the supervisor was only thinking about operational needs and the challenges that absenteeism was posing on the team and their productivity.  Since the supervisor had never encountered a need for leave or accommodations themselves, they did not recognize that this situation warranted a different approach. Supervisors are agents of the business for which they work and represent.  As such, they are required to recognize when an employee may require a leave of absence, intermittent leave, or disability related accommodations, among other issues that warrant a visit with human resources. They may not recognize when an employee’s performance or attendance struggles are related to a protected right that should be appropriately addressed.  The lack of knowledge in recognizing these types of issues can create significant liability for the employer, and potentially the individual supervisor as well.  Foundational compliance training would have saved this supervisor and the company from having to face a legal claim.

Investing in the professional development of supervisors and managers strengthens your entire organization by institutionalizing the knowledge and technical skills needed to be effective, and helps create a clear culture that backs the organization’s mission, values and objectives. More importantly, investing in your internal talent pool will create a more successful succession plan and will prepare you for the next generational transition.  While there may be some resistance to making the investment because of the current trend in resignation, the training paradox, supported by decades of data, tells us that the more a company invests in their employee’s development the less likely they are to leave overall.  Furthermore, those same leaders will in turn also invest in the development of their direct reports, upskilling the entire workforce over time.  Supervisory training is one part of a multi-faceted workplace culture, performance, and retention plan.  Over time, supervisory training can contribute to more efficient operations, higher productivity, fewer mistakes, greater job satisfaction, higher retention, and better morale. It takes a commitment, time and money, but the end results are well worth it.

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Gabriel Cox is a Senior Trainer and Coach and golbou ghassemieh is the Operations Manager & Senior Consultant with The Personnel Perspective, an HR consulting, leadership training, and recruiting firm with senior level human resources professionals serving the North Bay since 1987. Contact The Personnel Perspective at (707) 576-7653.

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Where We Are with COVID In the Workplace

Where We Are with COVID In the Workplace

The Spring of 2022 marks the beginning of the third year of the COVID-19 pandemic.  While many Americans believe the pandemic is over with life returning to pre-pandemic normal, it is certainly not behind us.  The landscape of the pandemic has merely shifted to a new “normal”.  This new normal includes continuing mask mandates, vaccine requirements (including boosters) at some public and private businesses and schools and continued supplemental COVID-19 paid sick leave.  Although the pandemic may appear over when gathered in large groups such as a sporting event, the federal, state and local requirements related to COVID are proof the pandemic is still ongoing.  Below provides a few of the current COVID-19 requirements.

 

COVID-19 Supplemental Paid Sick Leave

In February 2022, Governor Newsom implemented a supplemental paid sick leave for COVID-19 related absences.  A covered employee is entitled to at least 40 hours but no more than 80 hours of supplemental paid sick leave between January 1, 2022 and September 30, 2022 for COVID-19 related absences.  Examples of such absences are: needing to quarantine due to possible exposure to COVID-19, attending a COVID-19 vaccine appointment for themselves or for a family member, experiencing COVID-19 symptoms and seeking a medical diagnosis, caring for a family member, or caring for a child whose school or place of care is closed due to reasons related to COVID-19.

A key component of this supplemental paid sick leave is its retroactivity.  An employee is able to request paid sick leave for a COVID-19 related absence between January 1, 2022 and February 28, 2022, prior to the implementation of the legislation.  While the prior COVID-19 supplemental paid sick leave expired on September 30, 2021, there is nothing to suggest an employee can request paid time off for COVID-19 related leave taken between October 1 and December 31, 2021.

 

Testing and Mask Requirements

CalOSHA continues to modify protocols with regard to testing, close-contact, and return-to-work procedures and has revised certain terms, such as what constitutes a “face covering” to adapt to the changing landscape.  The current Emergency Temporary Standards (ETS) are in effect until December 31, 2022.  The key takeaway from this version of the ETS is it applies to employees without regard of vaccination status. Employers can require employees to submit proof of vaccination and require employees to be vaccinated against COVID-19. Additionally, employers can require employees to wear a face covering, as long as an accommodation is made for those who cannot wear face coverings because of a condition or disability.

 

Protea Financial COVID in the workplace

 

Workplace Safety – Civil Penalties

In September 2021, Governor Newsom signed SB 606, which allows the California Division of Occupational Safety and Health (CalOSHA) to issue company-wide citations for multiple workplace outbreaks of COVID-19. California inspectors may levy a civil penalty against those who are cited between an approximate range of $9,000 to $125,000 for willful violations of workplace safety.

Companies are liable for an automatic penalty, if three or more employees require hospitalization from a COVID-19 outbreak that occurred at their workplace.  These penalties are designed to incentivize companies to maintain safe and healthy work environments.

Employers should carefully review these laws to see where their policies and procedures need updating. The laws can be reviewed in Spanish here.  For example, face coverings are no longer mandatory for unvaccinated workers, COVID-19 testing must be made available to all employees with COVID-19 symptoms, and cleaning and disinfecting requirements were removed. Employers can also view a comprehensive list of changes from the previous Emergency Temporary Standards here. Maier Law Group can provide more guidance if needed to clarify the ever-evolving ETS. Email Info@maierlawgroup.com for a quick response.

This article has been prepared for general informational purposes only and does not constitute advertising, solicitation, or legal advice. If you have questions about a particular matter, please contact the Maier Law Group directly.

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Business has changed and COVID in the workplace is something we all must face. To find ways of simplifying your work, reach out to us today!

Protea Conversations: Chet Laws

Protea Conversations: Chet Laws

Protea Financial was founded in 2014 to provide high quality outsourced bookkeeping and accounting at an affordable price.  Given Protea’s flexible work environment, the Company especially appealed to accountants who wanted to re-enter the workforce after taking time off to start a family. This allowed Protea to attract extremely talented individuals who were previously overlooked.  Protea strives to represent people from all backgrounds and provide an environment for them to grow and succeed in a setting that provides the flexibility and acceptance of who they are as people.

We selected the name Protea because it is the national flower of South Africa and is a symbol of our connection. The Protea flower has become an ornamental flower because of this striking beauty and is included in arrangements and bouquets as a symbol of courage or daring to be better or a sign of positive transformation.

Protea Conversations in 2022 will focus on positive transformation and representation from all backgrounds. We are broadening our Conversations with the hope that these conversations will continue to create a forum to discuss the experiences, opportunities, and challenges leaders face, and how we can build a more diverse, inclusive, and successful environment for everyone.

In May of 2022 we spent time with Chet Laws, Director of Business Development, North Bay at InterWest Insurance Services, LLC. Chet is a native of San Francisco and has lived in the local area his entire life. After graduating from St. Mary’s College in Moraga, CA, he began his insurance career with Fireman’s Fund Insurance Company as a commercial underwriter. After 12 years with Fireman’s Fund, he joined a small insurance brokerage and began his career in insurance sales and consulting. Chet joined InterWest Insurance in March 2019.

As a student of the insurance industry, Chet has obtained several insurance designations including Certified Insurance Counselor (CIC) and Certified Risk Manager (CRM) from The National Alliance for Insurance Education and Research. Chet maintains both Fire and Casualty, as well as Life and Health Insurance licenses.

Chet is actively involved in the business community and frequently attends events whereby he meets and mingles with business owners and leaders; always looking to promote InterWest Insurance.

A father of two adult boys and stepfather to two teenagers, Chet and his wife live in Santa Rosa, CA. Enjoying the local wines and food offerings in the area is one of Chet’s favorite things to do. Chet is an aspiring photographer in his spare time.

Protea Financial Chet Laws Protea Conversation

Tell us about your decision to go into insurance world and your journey to through your career that now finds you working at InterWest Insurance Services?

After graduating from college, it was time to find a job.  I had no real idea of what I wanted to do for a living.  Looking through the want ads in the newspaper, I saw that Fireman’s Fund Insurance Company was hiring credit and collections trainees.  I did not really know what that was, yet I applied and was subsequently accepted.  After 3 years in the collections department, I entered an underwriter training program.  I learned property and then inland marine insurance.  After a 9-month training, I was hired as a property underwriter in Fireman’s Fund’s San Francisco Office.  After a 3-year stint in San Francisco, I was transferred to the Santa Rosa Office.  Three years later, I was transferred to Home Office in Novato.  After almost 3 years in Novato, I was asked to transfer back to San Francisco, and I declined to do so.  This is when I began my career as an insurance broker.  I worked for a small family insurance brokerage in Novato for 4 years and was mentored by a veteran insurance broker.

After 4 years and a great learning experience, I sought a larger insurance brokerage to help advance my sales career.  I joined (the original) ABD Insurance in Petaluma and really grew my knowledge and skills in insurance and risk management. All the while I furthered my insurance knowledge by studying insurance and obtained my Certified Insurance Counselor (CIC), Certified Risk Manager (CRM), Associate in Risk Management (ARM) and Associate in Underwriting (AU) designations.  ABD went through several mergers and ultimately became part of Wells Fargo Insurance and then USI Insurance.  I realized that I was not too happy working for an extremely large, publicly traded national company, and sought a new insurance brokerage.  I ran into my now boss at InterWest Insurance and talked about continuing my career with him and the InterWest Insurance team.  I have been with InterWest Insurance for just over 3 years now and absolutely love it. My insurance career has been and continues to be a fruitful journey.

What has been the biggest challenge you have experienced in reaching your current success (personally and professionally)?

Now, as a veteran insurance broker, I look back at all the great insurance professionals I have been fortunate to work with and for.  As a younger insurance broker coming into the industry and now as a long-time insurance broker, I understand that personal and professional relationships play a big part in the insurance buying decision.  The biggest challenge I have and continue to face is that of an established relationship between prospective clients and their current insurance broker.  In the insurance industry, the only way for a new client to join me and my team is for the current insurance relationship to be terminated.  My challenge for each and every new opportunity is to figure out the relationship between the prospective client and their current insurance broker.  This takes some detective work, local connections and intelligence and being at the right place at the right time when a prospective client has a need.

What are your short-term goals for your career and yourself?

Short-term, I plan to be in the industry for at least another 5-7 years.  I am taking an active role in the education and training of new, younger insurance professionals.  The mentor / coach role is one that I enjoy immensely as I can see results each day.

What is the best piece of advice you have ever received that has helped you in your success?

I have been told repeatedly to be patient and persistent.  Oftentimes the sales process can take several years.  Patience and persistence have proven to be sound advice.  Good things do not necessarily happen overnight.

Protea Financial Trust The Process Chet Laws

What is the piece of advice that you wished you had gotten when you were starting out?

Our InterWest Insurance CEO says, “Trust the Process.”  There truly is a process to insurance sales.  Had I learned this simple truth years ago, I could have avoided the “reinventing of myself” time and time again as I sought to grow and prosper.  Trust the Process is sound advice.

What advice you give to others to help them be better leaders?

Rely on teamwork! I am an advocate for team selling.  Insurance sales can be an individual role, yet team selling will derive results far more than those gained individually.  I always talk with our sales team and highly encourage a team selling approach.

Can you share something interesting about yourself that will provide insight into who you are outside of the professional space?

My wife and I enjoy spending time together as we travel through the Sonoma and Napa communities visiting the many fabulous restaurants, wineries and breweries in the area.  We both enjoy live music and can often be found at one of the local music venues enjoying music from most all genres.  We also have a beehive and organic garden in our backyard.  Oftentimes we are faced with hundreds of bees flying around as they do what they do in the yard as we are trying to work in the garden.  It can be a fine balancing act.

As a thank you to our interview and Protea’s commitment to more diverse and inclusive leaders, Protea will donate to Positive Images (https://www.posimages.org/). Positive Images is a grassroots nonprofit organization serving Sonoma County since 1990. Their LGBTQIA+ Community Center hosts multiple weekly support groups, a youth leadership development program, mentorship opportunities, an LGBTQIA+ Library, resource and referral station, and a Transformation Station. They proudly offer a warm, welcoming, and affirming environment for young people to explore their individual identities, develop leadership skills, and contribute to our collective community. Positive Images staff lead LGBTQIA+ Cultural Competency Trainings and presentations that educate the greater community focusing on human connection, compassion, and inclusion. Their goal is a community where all LGBTQIA+ people are valued, compassionate community members, creating a just society.

Call Protea Financial for More Information

Want to learn more? Contact Protea Financial and we can help!

7 Tasks You Can Ask Your Bookkeeper to Do for You

7 Tasks You Can Ask Your Bookkeeper to Do for You

You’ve got a great bookkeeper. They are organized, detail-oriented and understand the basic concepts of accounting. They keep your books in order, perform analyses and balances, and can handle even the most complex of tasks. They are the perfect business partner, and they are great at what they do. However, are they doing everything they can to help your business? Yes, your bookkeepers are great at recording transactions, reconciling accounts, and performing other financial tasks. But that is only part of the job they could be performing. If you want your bookkeeper to become the invaluable partner you need and could not live without, you need to give them the chance to shine. Here are seven tasks you can ask your bookkeeper to do for you to help your business thrive and grow.

Create a Financial Statement

If your business generates revenue, you need to track that revenue and create a financial statement. Every quarter, your bookkeeper will add up your sales and subtract expenses to calculate your net profit or loss. But what do you track? If you are not tracking your revenue, your bookkeeper will have a very difficult time calculating your profit. And if you are not tracking your expenses, your bookkeeper will have a very difficult time calculating your loss. Both of these figures will be important to you and they say everything about the overall health of your business. Thankfully, your bookkeeper can help. By creating a financial statement, your bookkeeper can help you better understand your business and measure its success.

Manage Payroll

Your bookkeeper can help calculate your payroll and in some cases, even manage employee benefits if you have employees. Depending on your industry, your payroll requirements can vary widely. If you own a restaurant, for example, payroll taxes will be high. If you own and run an insurance company, you may have a complex set of requirements. Whatever the case, your bookkeeper can help you manage payroll. During the process, they will help your business reduce costs and have a better idea of how much revenue each employee brings in. They also use this to help track that your business is making enough money to cover the costs of the employees you currently have.

Set Up Automated Systems

Your bookkeeper will be able to set up automation systems for some operations, if you perform a specific type of business. The system could help you track inventory and track customer orders. If you have a bar, for example, you will want to track how much liquor you order and how much you sell. In retail stores, you will want to track how many items the customers buy and whether they pay with cash or credit card. You will also want to track how long it takes them to pay the bill. That way, at a moment’s notice, you can tell what your inventory levels are and if you have the money to buy more when the supply dictates that type of purchase. Automation systems are useful for tracking inventory and managing customers.

Protea Financial Bookkeeper tasks

Track Your Performance

One task your bookkeeper can take on is tracking your performance. They will do this through regularly looking over the numbers of incoming revenue, outgoing expenses, and watching or knowing industry trends. Many bookkeepers have insight of when business will pick up based on the performance in prior years. The more tracking you have your bookkeeper do, the more insight you can gain into how to position your business for the best returns. You can ask your bookkeeper for advice on future decisions based on past performance, giving you an edge in your industry, too.

Keep Track of Your Inventory

Your bookkeeper will be able to keep track of your inventory if your business regularly keeps inventory records. Inventory records help your financial professionals keep track of your profits and losses. They let you know how much money you have in the bank and how much money you owe suppliers. If you don’t keep track of inventory, your bookkeeper will have a difficult time calculating your profits and losses and helping you manage your finances.

For example, if you own a winery, you need to track how many bottles you create, how many are sold, and how many you plan to allow to age for a deeper flavor. Knowing what type of inventory you have on hand also allows you to price your inventory properly. Asking your bookkeeper for insight as to which products have sold best and what their price points were can help you adjust your prices if sales seem stagnant or slow during certain periods of the year.

Dig Into Your Company’s Finances

Your bookkeeper will be able to help you dig into your company’s finances if you regularly perform financial analyses. Analyses let your bookkeeper figure out how much you should be earning and how much you can spend. This can be a tricky, complicated task. If you don’t perform financial analyses regularly, you could have a difficult time making sure you have enough money to cover your expenses and have a buffer for unexpected losses. Your bookkeeper can help you perform financial analyses to figure out how much money you need in the bank, how much income you should place into various investments, and how much you can spend when you need inventory or upgraded equipment.

Protea Financial Tax Documents Your Bookkeeper Can Help With

Help Get Tax Documents Ready for Your Accountants

In the course of helping you manage your finances, your bookkeeper will help you get tax documents ready for your accountants. Your accountant will need access to the documents you need for taxes each year. They will also need access to or copies of the documents you need to file your taxes. Your bookkeeper will be able to help you get all the documents you need ready for your accountant. You will also be able to relax while they do it. Accountants and bookkeepers regularly work together. They know what the other will need, ask for, or information that will help make their jobs easier. Let your bookkeeper and your accountant work together so that at tax time, you can remain stress-free while they work together to figure out all the details.

Turn to Protea Financial for Help Learning What a Bookkeeper Can Do

Your bookkeeper can help you become more efficient and effective in running your business. Whether you want to track inventory or manage payroll, your bookkeeper can help. They will also be able to help you with tracking your performance and getting your business ready for taxes each year. Bookkeepers can also help you dig into your company’s finances and help you make sound financial decisions. With a well-prepared bookkeeper, your business will be more efficient. To find a bookkeeper your business can depend on for these tasks and more, contact Protea Financial today. We are here to help!

Find the Perfect Bookkeeping Partner at Protea

Take the time to find a bookkeeper that you can trust to help with all the business tasks possible. You need to focus on running your business. Leave the numbers to your bookkeeper!