What is Bookkeeping?
Bookkeeping is the process of keeping track of your business’s financial transaction details. Bookkeepers record, classify, and organize every financial transaction that is made through the course of business operations. Each financial transaction recorded is based on supporting documentation such as a sales order, a check from a customer or a payment you made to a vendor all showing that the transaction took place. And at the end of the month, the transactions are balanced using your bank statements and supporting documents. When your bank accounts are reconciled, your books are balanced.
An automated system has many benefits including:
- Tracking expenses throughout the year, providing you with the data you need to better predict and manage your cash flow. View the built-in cash flow statement and see how much money you have—so you can cover your bills.
- Automated invoicing helps you get paid faster. More payment methods equals money in your bank account faster. Customers pay with credit cards, debit cards, and ACH bank transfers. You accept payment right in your online invoice.
- Staying on top of your financials monthly allows you the business owner to understand the current state of your business.
Your business’s productivity increases when automating accounting functions like payroll, invoicing, and accounts payable and receivable. Automated accounting saves time.
The bookkeeping process allows for communication of the financial results of the business at the end of the year for income tax purposes and the preparation of financial statements by your CPA.
As a business owner you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.
We specialize in Bookkeeping and offer a broad range of services for business owners.