Bookkeeping involves the recording of your company’s financial transactions and other relevant financial information concerning your business. This is the process of inputting monthly entries into our accounting software to ensure our clients keep a good record of their purchases and cash flow.
It’s important to distinguish the difference between accounting and bookkeeping. While they may seem similar, Bookkeeping is a transactional and administrative role that handles the day-to-day task of recording financial transactions, including purchases, receipts, sales, and payments. While accounting is more subjective, providing business owners with financial insights based on information taken from their bookkeeping data.
Studies show the average business owner spends roughly 6-8 hours a week on bookkeeping. That’s an entire day lost to tracking figures your accountant will likely need more thorough information on at the end of the year. Accounting firms typically spend anywhere from 2-4 weeks combing through and sorting clients books. This is a task that simply should be left to the professionals, so you can spend your time turning profits for your company.
- Monthly Bookkeeping
- Income Statement Reports
- Balance Sheet Reports – Asset and Liabilities
- Profit/Loss – Income and Expense
- Business Tax Return Preparation
- Business Tax Planning & Management