What is Bookkeeping?

 

 

The day-to-day work of a bookkeeper is what keeps the business owner sane. These tasks usually revolve around keeping cash positions current so that the business owner does not make decisions on faulty cash balances. Bookkeeping is the accurate and timely recording of the daily financial activities of a business. Other services include but not limited to:

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• Maintains records of financial transactions by establishing accounts; posting transactions. 

• Develops system to account for financial transactions by establishing a chart of accounts

• Maintains subsidiary accounts by verifying, allocating, and posting transactions. 

• Balances subsidiary accounts by reconciling entries. 

• Maintains general ledger 

• Balances general ledger by preparing a trial balance; reconciling entries. 

• Prepares financial reports 

 

"Every penny that comes into the business, and every penny that leaves a business, 

should be accounted for."

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How important is the Bookkeeper?

 

Statistically, 20% of small businesses fail within the first year and 50% of small businesses fail within five years. One of the main reasons for small business failure is poor record keeping. Small business owners need to be aware that minor bookkeeping mistakes can lead to significant financial damage down the road if left uncorrected. If your financial transactions are not tracked in a timely manner and recorded accurately, it can put you right out of business!

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What documents do I need for the bookkeeping services?

Click Here to View what documents needed for the bookkeeping service PDF

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What are the bookkeeping fees?

Please call for a free consultation and a bookkeeping quote.