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The Small Business Accounting Solution
The Small Business Accounting Solution, Inc.
By Marcella Peyre-Ferry Contributing Writer
It has been a long and winding path through professions for Nicole Odeh, but she has found the career where she can enjoy her work and help others at the same time.
Odeh, founder of The Small Business Accounting Solution, Inc., originally studied to be a marine biologist, then changed paths and received a degree in psychology. She loved helping people but did not enjoy the job’s stress. She took a break to work as a nanny, where the family she worked for introduced her to bookkeeping.
“I loved the numbers,” Odeh said. “They made sense to me.”
From there, Odeh moved into corporate finance. With her affinity for numbers and growing background in the business world, she was disappointed when she had her taxes professionally done for the first time.
“It was really unsatisfying, it wasn’t comfortable,” she said. “No wonder people don’t like taxes.”
Odeh was compelled to return to school, earning an accounting degree. She handled nationwide payroll for a major company, but by 2012 decided to go out on her own full-time and start The Small Business Accounting Solution, Inc. (TSBAS).
“My background with helping people has come full circle,” Odeh said. “This is where I get my joy, working with business owners who have a passion for something they want to do, but not the numbers. I can help make things make sense to them so they can pursue their passion.”
TSBAS serves businesses small and large, both locally and nationwide. The company provides a range of services from bookkeeping to tax preparation, payroll to financial consulting. Although they are not specifically financial planners, they can help with budgeting and cash flow.
“I take a holistic approach. If you are a business owner, your business income affects your household income. We talk about all of those things,” Odeh said. “Taking that big-picture look helps the small business make better decisions.”
Odeh and a staff member are both enrolled agents, meaning they can represent their clients with the IRS.
There are some businesses that come for help only during tax season, but Odeh believes seeing her clients more often helps them make better financial decisions. Most of her clients are in the service industry rather than retail, and most have under 40 employees.
“I love the start-ups, those people who say, ‘I want to go out and make my mark on the world.’ There’s a lot of that happening these days,” Odeh said.
For the small start-up, TSBAS offers a simple package that covers the basics of tax preparation and planning at an economical cost that can be budgeted out over several months.
“Start-ups need certain things. ‘What type of expenses can I have? Do I need an LLC? Do I need a lawyer?’ These are basic questions that are daunting to a startup,” Odeh said.
She can help answer these questions and more, so that as a business grows, it is prepared to move to the next level. Many clients communicate with Odeh and her team electronically, but they can also visit the office at 50 South 1st Avenue in Coatesville.
Although they have clients nationwide, the firm has special expertise in Chester County. “We understand what’s going on around here.” Odeh said. “‘Having that local feel is always a nice thing.”
