Compass Business Services joins Lynn Area Chamber

LYNN – The Lynn Area Chamber of Commerce recently welcomed Compass Business Services to the organization with a ribbon-cutting ceremony. Compass Business Services owner Tom Knowlton says he started the business more than 16 years ago, but his path to owning his own bookkeeping business began with a degree in history – and being sent to the wrong job interview.”An employment agency sent me to the wrong job interview. When the interviewer and I realized the error, we decided to continue meeting anyway. This led to my first job as administrative assistant for the vice president of laser products at Holobeam, Inc. Initially I priced R&D contract proposals, and after I computerized this process, I was moved to inventory control manager. After six months managing inventory, the company’s controller asked me to join the accounting department, and I worked as general accountant for approximately two years.”From there, a chance meeting with a stranger on a plane set Knowlton up for the next phase of his career. He was asked to interview for and landed a senior financial analyst position at the Singer Company, Inc. in Manhattan. While he didn’t think he was qualified, the hiring committee explained, “We like the way you think, and we will help you by paying your tuition so you can get your MBA.”Knowlton stayed for seven years until he took a position in San Francisco as manager of Western Hemisphere Accounting for Singer’s Friden Division.From there he accepted the position of controller of a startup in Silicon Valley, Calif., before moving back East and starting his own business.His goal for his business is straightforward – to help business owners succeed by setting up bookkeeping and accounting systems that provide financial reports and information that business owners can use as tools to grow profitability, improve cash flow and reduce costs.The biggest misconception about bookkeeping and accounting, he said, is, “People think that it’s nothing more than boring, time-consuming number crunching needed to complete income tax forms. Actually, bookkeeping and accounting involve complex, interesting tasks like designing accounting systems to provide useful, timely financial reports, data and information that reflect each business’s unique operations and outcomes; assuring that accounting laws and regulations are met; setting up and maintaining financial document control systems; and meeting with business owners to review financial reports, address business owner’s questions, and needs for additional reports and services.”To discuss your bookkeeping needs, call Compass Business Services at 978-836-7903 or email Knowlton at [email protected] Thursdays proceeds benefit Lynn Arts and Cultural DistrictLYNN – Columbia Insurance and the Lynn Area Chamber of Commerce recently donated proceeds raised from several years of 3rd Thursday events to the newly created Downtown Arts and Cultural District initiatives. The check, held in an LACC Community Fund, was presented to Downtown Arts and Cultural District Director Emily Ruddock.The idea of 3rd Thursday events was the brainchild of John Olson, a lifelong Lynn resident and business owner who moved his business to Central Square to help spawn and support economic development for the area.The 3rd Thursday series of resident-friendly events for all ages was created to generate a renewed interest for businesses and residents to frequent downtown Lynn.”After seven years coordinating the Clock to the Rock Road Race in Central Square and many other events, it was time to pass the baton to Emily and her very competent, committed and energetic committee,” said Olson.Columbia Insurance will remain as a lead sponsor for the event.”We know Emily and her team will give 110 percent to this effort and bring great things to Lynn, and Emily will be an excellent steward of this funding from our past efforts,” said LACC President Leslie Gould.”On behalf of the Downtown Lynn Cultural District, we wish