Many small business owners mistakenly think of bookkeeping as only data entry, and trust the function to an unqualified employee. Accounting software is making bookkeeping much easier than in years past, but it’s still critical that the tasks are handled by someone skilled in the practice. 5 Reasons Good Bookkeeping is so Important Bookkeeping helps […]Read More
Bookkeeping is an essential business activity: the recording and managing of a business’s financial information. Transactions, expense accrual and other financial information is recorded by your in-house bookkeeper or outsourced service. Your bookkeeper should provide, at a minimum, The Income Statement, The Balance Sheet and the Cash Flow Statement. They should also: Manage accounts receivable […]Read More
When it comes to small business accounting, most owners know it is important to keep records up-to-date for tax purposes. But there are many other ways you can use your bookkeeping reports to grow your business: Profit and Loss Statement The P&L or Income Statement tells you how much money you are making, but that’s […]Read More
Is it time for you to hire an outside bookkeeper? There are many advantages: privacy; security that your needs will be covered if one person goes on vacation; freedom from the hassles of hiring, training, providing benefits; etc. Here are some questions prospective BookWerksTM clients have asked: Will the Service Have Experience in my Field? […]Read More
Not so long ago, accounting software programs were located on the business owner’s own private computer, or a private server within the company. This allowed employees within the same physical location access to the accounting software. But this access was limited, and not useful when the business added locations and/or needed to give outsiders access […]Read More
Thinking of taking your bookkeeping offsite? For most businesses, particularly small businesses, that is a great idea. You will save time and money, sleep easier knowing your financial records are in order, and always have the information needed to make sound business decisions at your fingertips. There may be a lot of options in your […]Read More
In order to succeed in business, you need to keep a tight control of your money. You need to know who your most and least profitable clients are and what categories of expenses are eating away at your profits. Come tax time you also need accurate records to make sure you pay the proper amount of […]Read More
This is a continuation of our blog about Bookkeeping questions: What If I Change My Mind About Using an Outside Bookkeeper? Different services have different policies, but at BookWerksTM, your rolling commitment is for 30 days. What Software is Most Commonly Used? Typically, bookkeepers will use either Xero or QuickBooks software. BookWerksTM uses both, depending on the […]Read More
Wonder how outsourcing your bookkeeping works? Here’s everything you ever wanted to know, with more answers in our next blog: Pricing Many bookkeeping services charge on an hourly basis. However, it’s much better to find a service (like BookWerksTM) that bills on a flat monthly subscription basis, which can scale up as your business grows and […]Read More
With timely, accurate bookkeeping, you will always know the answers to these and other critical questions: Did your clients all pay on time last month? Will an office improvement be a smart use of your money? Do you have enough money to hire a part-time assistant? Keeping careful books is a critical part of any […]Read More
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