If you do not currently use a bookkeeper in your business, you should reconsider. With a skilled bookkeeper, there is no need to worry about the company’s finances, freeing the business owner to work on their passion, building up the value of the company. A professional bookkeeping service will provide you with a high level of expertise in a variety of services.
• General Ledger
• Accounts Payable/Accounts Receivable
• Bank/Credit Card Reconciliation
• Employee Paperwork
• Financial Reports
Any great small business has to accurately track its money. A professional bookkeeper performs all items on a monthly basis:
• Post month-end closing entries
• Reconcile bank and credit card statements
• Year-end financial statements reporting
• Reconcile expenses with credit card accounts, checkbooks, and bank accounts
Accounts Payable/Accounts Receivable
A professional bookkeeper keeps meticulous records of what money is coming in and where it is going.
• Record and track and pay vendor bills
• Submit invoices to clients
• Reconcile payables with bank accounts
• Posting bills into the general ledger
• Monitor aging payables
Bank/Credit Card Reconciliation
Reconciling your credit card statement and bank statements at the end of each month can be tedious and time-consuming. Without a professional in bank/credit card reconciliations, you’re liable to overdraw your account or underestimate your actual finances. An accurate picture of your reconciliations must be kept in order to keep track of your company’s current financial standing.
When hiring new employees, the completion of a large amount of paperwork is required and needs to be properly processed. The W-4 form, I-9 form, health and insurance benefits paperwork, are all formalities that need to be correctly completed and filed with their respective government agencies or companies. This process can be very time consuming for anyone not knowledgeable in this area.
Tracking your financial data is crucial in the day to day operations of a business. It also vital when seeking funding from either a lender or potential investor. Keeping precise records ensures that your products are priced right and what margins you are operating at. Filing taxes is much easier when all financial data is accurate.
A professional bookkeeper is a tremendous asset to a company. The services provided allow the business owner to concentrate on areas of the company that have been neglected and require much-needed attention.
These services are customized by the bookkeeper to fit the needs of their client. Bookkeeping is frustrating and time-consuming for any business owner. A bookkeeper assists you in spending time where it is needed most.