Debit cards are popular for lots of reasons: they’re convenient, usually don’t have fees, discourage overspending, and don’t charge interest. But they also have more than a few drawbacks. At BookWerksTM professional bookkeeping service, we suggest clients use debit cards sparingly–primarily as a way to withdrawal money from ATMs. Here are a few reasons we […]Read More
Professional bookkeeping businesses produce income statements and balance sheets for their clients. These reports are excellent tools for owners of businesses, but are often confused. A balance sheet gives a snapshot of financial situation at a moment in time, while an income statement – or profit and loss statement – measures financial position changes over […]Read More
Regular, skilled bookkeeping helps 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 records are […]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 documents such as receipts, invoices or purchase orders Most companies–or their bookkeeping partners serving small businesses–use specialized accounting software to keep their books. The bookkeeper […]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 is key to the growth of your business. What Does a Bookkeeper Do? A bookkeeper is responsible for maintaining financial records and ensuring that all transactions are […]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: What Does a Bookkeeper Do? Key responsibilities of a bookkeeper include getting […]Read More
Outsourcing the role of bookkeeping is a good choice, particularly for small businesses that do 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 your financial transactions […]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 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 know […]Read More
Small business owners wear a lot of hats. That’s why it can be daunting to realize bookkeeping is a critical task. Skipping the chore of recording financial transactions and leaving it all to your accountant at tax time won’t cut it. Professional bookkeeping help allows you to organize, store and analyze financial information. With this […]Read More
Need a new piece of equipment to help run your business? You may have questions: Can I afford if? 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 always knows where you stand […]Read More
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