A good accountant can help you plan and understand your business’ finances

Marshawn Wolley, President and CEO of Black Onyx Management, recommended outsourcing payroll and taxes while your business is still growing. He offered further thoughts on the importance of good accounting in today’s “Industry Focus” segment.

Wolley also advised business owners to have a good grasp on what’s going on in their business, particularly in things like accounts receivable and other financial systems. Two key documents that you should have a handle on are a balance sheet and a profit and loss statement.

For more information and advice on financials, watch the video above.

You can find more information about Black Onyx Management here.

This information is presented by Marshawn Wolley.