Every business needs to keep accurate financial records. Accurate record-keeping will help the owner keep a pulse on the financial performance of the business. Regularly published financial reports will help you determine if your business is profitable and help you make informed decisions. They will also allow you to be prepared for tax season and, with proper planning, eliminate any tax surprises.
We recommend that you use an accounting software program to track the financial activity of your business.
Your financial reports are only as accurate as the data you include when preparing them. All bank accounts, credit cards, loan, etc. should be included. You also want to make sure that you account for any business expenses paid for with personal funds or any revenue earned that was not deposited into your business bank account, as well as any money you contribute or take out of the business.
Not sure how to set up your books?
Have enough responsibilities on your plate and looking to outsource your bookkeeping?
Need a better system for maintaining your financial records?
4 WAYS TO MAKE BOOKKEEPING LESS STRESSFUL
Track your income and expenses on at least a monthly basis.
Use simple accounting software to manage cash coming in and going out.
Complete bookkeeping/workflow training to develop a process to manage your finances.
Hire an accounting professional as part of your virtual team.
Don’t want the headache of keeping up with payroll taxes, w-2’s and 1099’s?
Not quite sure how to begin running payroll for your company? Need help choosing a payroll software system?
We can help you with payroll processing. You can outsource your payroll functions to us or simply receive guidance from us on what needs to be done.
How we can help…
Set up your accounting system
Accounts receivable (billing your clients)
Accounts payable (paying bills)
Publish monthly financial reports
Establish bookkeeping workflows
Evaluate software a integrations to automate bookkeeping processes
Check our our list of business finance tools!