Online Bookkeeping Services
No matter what industry you are in, the size, and the nature of your business, it is vitally important to keep your books organized. Bookkeeping involves the recording of financial transactions.
It is one of the most important parts of the accounting cycle. This is because from here, all other types of ‘number crunching’ and analysis get done. What you can afford, and what you need to plan for, come from this essential first step.
The most common transactions a business needs to record are purchases, sales, receipt codes, and payments. These may seem basic, but they are quite important to ensure the accuracy of your financial records.
To make this easy, efficient, and accurate, our team uses cloud-based accounting software, with some very useful features. For example, optical character recognition can allow you to take photos of receipts, upload them to an app, and have records inputted automatically.
The apps can fetch your utility bills and bank statements directly from your providers, in case you don’t get them e-mailed to you.
Best of all, these apps can integrate with other accounting software, such as Quickbook Online and Xero. This allows us to do more advanced types of accounting for your business without the need for lengthy, mundane, manual processes.
Sometimes, a business may decide to do its own bookkeeping in-house. Certainly, these apps make that easier than in times past. In other situations, an outsourced bookkeeper is brought into the picture to keep things ‘clean,’ and to ensure the entries are all up-to-date.
Having professionals manage your bookkeeping can also make tax returns a lot easier, faster, and cheaper. This is because there will be less to review and fix, if mistakes were made, or if items are missing, etc.
However, if your books are not done right, there can be serious consequences. Check out our article on the “Top 5 mistakes costing businesses money and impeding their growth.“
If you need help keeping your books organized and don’t want to think about bookkeeping anymore, feel free to reach out to us. If you do have to catch up on your bookkeeping, we can help.