Posts Tagged “financial reports”

Avoiding Common Franchisor Bookkeeping Mistakes

What happens when franchisors make bookkeeping mistakes? They can face harmful financial inaccuracies, compliance issues, and worst of all, strained franchisee relations. Here are some of the most common mistakes franchisors make in bookkeeping practices: Lack of Financial Transparency with Franchisees If your Franchisees fail to provide clear, accurate and timely financial reports, franchisors will […]Read More

Bookkeeping Tips for New Franchisees

When you buy a franchise, you become responsible for managing the financial records of your business. You also need to comply with both brand requirements and legal regulations. It can be a lot. One of the requirements may be having a bookkeeper manage the financial recordkeeping. Some bookkeeping companies specialize in working with franchises – […]Read More

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Accounting and Bookkeeping Services for Your Small Businesses

The services of bookkeepers and accountants for small business dovetail like those of dentist and dental hygienists, and both are crucial to small businesses. Bookkeepers like BookWerks^TM keep track of day-to-day financial transactions and clean up errors or omissions. Our job is to provide regular, timely, accurate reports to help you make smart decisions. Then, at tax time, your accountant can efficiently file your taxes with the information we provide. The accountant, like your dentist, is more highly trained, and therefore, more expensive. Your bookkeeper doesn’t NEED to know everything your accountant does, but conscientious work on the bookkeeper’s part makes the accountant’s job simpler (and saves you money). Accountants appreciate good bookkeepers and vice versa. Each complements the other to help their small business clients thrive. When you have your accountant handle the recording of daily income and expenses, you are paying too much, and not making the best use of their strengths.