Thinking of taking your bookkeeping offsite? For most businesses, particularly small ones, 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
Bookkeeping is the tracking of financial transactions, usually by entering them into accounting software. It provides a picture of where your money comes from, where it goes, and your potential tax deductions. It’s important because: You need it for taxes You need it to borrow money It helps you catch errors before they cause problems […]Read More
Restaurant bookkeeping is unique. It can be intimidating–even for seasoned, well-rounded restaurant owners–because it’s a complex practice with many moving pieces. Keeping restaurant books is also time-consuming, time-sensitive, and dependent on accuracy. But it is critical for making finance-driven business decisions. Do you Need Professional Cincinnati Restaurant Bookkeeping? You may have heard the saying: “know your strengths, […]Read More
Before you sign up with a bookkeeping service, find out how they charge and get an estimate. That will give you a good idea of whether you can afford the firm’s services (our clients usually find it saves money to use an outside professional service.) Charging by the hour for bookkeeping is considered outdated. That’s […]Read More
Bookkeepers typically do the following: Enter financial transactions into computer software Put costs (debits) and income (credits) into the software, assigning each item to the right account Produce regular balance sheets (costs vs. income), income statements (assets, liabilities and equity) and totals by account Check for accuracy in figures, entries and reports Reconcile any discrepancies […]Read More
Bookkeeping is the recording of all financial transactions your business makes. Bookkeepers record, classify and organize transactions using supporting documentation such as receipts, invoices, purchase orders, etc. Most bookkeeping and accounting services for small businesses and franchises in Cincinnati now use specialized computer programs like Xero, or QuickBooks. Terms to understand When you set up your […]Read More
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