Professional bookkeeping companies produce income statements and balance sheets for their clients. These reports are excellent tools for owners of businesses, but they are often confused for one another. A balance sheet gives a snapshot of your financial situation at a moment in time, while an income statement — or profit and loss statement — […]Read More
Regular, skilled bookkeeping services help small businesses retain precise financial records, which you are legally required to keep for tax purposes. Daily bookkeeping also offers many business benefits: Budgeting When income and expenses are faithfully recorded, it is easier to see where you stand financially and stay on top of cash flow needs. Organization When your […]Read More
Bookkeeping is the process of keeping track of each financial transaction—from the day you hang out your shingle to the day you shut down. Each transaction is recorded based on financial documents such as: Receipts Invoices Purchase orders Most companies—or their bookkeeping partners serving small businesses—use specialized accounting software to keep their books. The bookkeeper has […]Read More
Small business owners are responsible for sales, marketing, product development, customer service and more. It’s no wonder bookkeeping often falls between the cracks. But keeping accurate financial records isn’t just important for everyday business management— it’s also key to the growth of your business. When you outsource accounting and bookkeeping, your potential for growth and […]Read More
One of the most important tools you can use to become more competitive and profitable is a bookkeeping service. After they hire professional bookkeepers, businesses enjoy average profit increases of 16%. Does your business need a bookkeeper? Here are some things to consider: Bookkeeper Responsibilities What does a bookkeeper do? A bookkeeper gets financial processes […]Read More
Outsourcing the role of bookkeeping is a good choice for small business owners—particularly when your small business does not have the resources to hire an in-house bookkeeper. It may be time to outsource your bookkeeping if: Doing it yourself is taking up more time than you want to spend. You often fall behind in logging […]Read More
If you do your own bookkeeping and don’t always keep up, or your bookkeeper is often distracted by other tasks, you can find yourself facing cash flow issues and other financial problems. Here are 7 warning signs your back office might be putting your business success at risk. 1. You Don’t Know Your Numbers To […]Read More
Small business owners wear a lot of hats. It’s no wonder bookkeeping is not always top of mind. Some small business and franchise owners are actually fuzzy on what bookkeepers do. But skipping the chore of recording financial transactions and leaving it all to your accountant at tax time is a risky practice. Professional bookkeeping […]Read More
Need a new piece of equipment to grow your business? You may have questions: Can I afford it? Do I have the cash or credit to buy it? What will be my ROI if I do? Easy answers to these questions can come from a professional bookkeeping company, which can share where you stand financially at […]Read More
From CPAs to POS Systems to Payroll providers, professional bookkeeping services can refer you to resources that will fit for your business. Based on our wide network of professionals, BookWerksTM can help you find affordable assistance with: strategic planning, internal processes, organizational structure, forecasting, software integration and taxes. We consider our clients partners, because when you […]Read More
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