Bookkeeping

Proper bookkeeping is the bedrock which keeps every other aspect of your business clicking along on all cylinders.

Monthly bookkeeping

  • Set up chart of accounts
  • Transaction entry
  • Categorizing expenses
  • Recording deposits and income
  • Fixed asset
  • Depreciation adjustment
  • Amortization adjustment
  • A/R review
  • A/P review
  • Loan amortization
  • Bank and credit card reconciliation
bookkeeping-web

You will get accurate monthly and year to date financial statements

  • Profit & Loss
  • Balance Sheet
  • Cash flow statement

Catch-up bookkeeping

If you fell behind on your bookkeeping, no problem: Contact us to start get you your books up to date.

Catch-up bookkeeping

If you fell behind on your bookkeeping, no problem: Contact us to start get you your books up to date.

Bookkeeping process

Simple steps in monthly bookkeeping process:

  • Collecting documents
  • Recording transactions
  • Asking questions to clients if necessary
  • Reconciling bank accounts
  • Producing financial statements

Bank reconciliation

Your bookkeeping is not yet done by only recording or downloading transactions to your accounting software.

Benefits of reconciling bank and credit card statements;

  • Prevents fraud
  • Tracks your cash flow
  • Produces accurate financials

Reconciliation involves:

  • Recording cash book balance & bank ending balance
  • Comparing transaction; software vs bank statement
  • Adding back deposits-in-transit
  • Recording missing checks or payments
  • Applying deposits from sales to correct invoices
  • Recording of other deposits to correct accounts, such as loans
  • Adding new category in chart of accounts if necessary
  • Deducting outstanding checks
  • Adding any interest earned or notes receivable amount
  • Recording any bank fees and NSF checks
  • Making journal entries if necessary
  • Matching adjusted bank balance in the books to bank ending balance

Bank reconciliation

Your bookkeeping is not yet done by only recording or downloading transactions to your accounting software.

Benefits of reconciling bank and credit card statements;

  • Prevents fraud
  • Tracks your cash flow
  • Produces accurate financials

Reconciliation involves:

  • Recording cash book balance & bank ending balance
  • Comparing transaction; software vs bank statement
  • Adding back deposits-in-transit
  • Recording missing checks or payments
  • Applying deposits from sales to correct invoices
  • Recording of other deposits to correct accounts, such as loans
  • Adding new category in chart of accounts if necessary
  • Deducting outstanding checks
  • Adding any interest earned or notes receivable amount
  • Recording any bank fees and NSF checks
  • Making journal entries if necessary
  • Matching adjusted bank balance in the books to bank ending balance

Question and answers

Questions:

Why accurate and timely bookkeeping is important for entrepreneurs?

Answers:

You will need to share your business’ financial information with one or more of following parties.

Investor(s) /owner(s): Accurate and timely information is important for good business decisions.

Partners: Vendors and some customers may require part or all of your financial statements.

Government: Business taxes are calculated based on your company’s financial information.

Financial Institutions: Bank require companies financial statements to approve loans.

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