Automated Bookkeeping Online Help for Small Business Owners and Managers

Many small business owners and managers battle with their accounting and bookkeeping on a regular basis. Even for very experienced individuals, keeping track of all of the supporting documents and correctly accounting for every transaction can be difficult and at the very least time consuming.

We can fix that problem for you by providing expert bookkeeping services for your small business and giving you the peace of mind that your accounting is in order. This can give back valuable time to any small business owner or manager and let that time be focused on other business activities.

Bookkeeping Basics “for Dummies”

Bookkeeping is the task of keeping the financial and accounting information of a company up to date and organized on a regular basis so that owners and managers can act on that information. Additionally, a company’s books are the basis on which their financial statements (income statement and balance sheet) and tax return are prepared from.

Now that the importance of bookkeeping is understood, what exactly is it? Bookkeeping is ensuring that the financial transactions and balances of a company are recorded. When a bill is paid, cash has gone out and an expense has been incurred. When a client is billed for a service, the company now has a receivable due from the client and has generated revenues. On even a weekly basis a small business can have dozens of transactions occurring, each of which needs to be tracked and recorded as a financial transaction or balance. These transactions are recorded on the income statement, which show revenues and expenses, and the balance sheet, which show assets, liabilities, and equity in the business.

This time consuming process isn’t always as straightforward as it seems and that is why many small business owners and managers rely on a company to provide bookkeeping support. Our team of experienced professionals can ensure your bookkeeping is done professionally and correctly.

Bookkeeping Service Duties and Templates

The varied needs of each small business will dictate the bookkeeping services that the business will need. There are a wide variety of bookkeeping services that can be provided to a small business with each coming at a different cost.

Journal Entries and Financial Statements

The core of bookkeeping services is the processing financial transactions by making entries in the company’s financial records and preparing periodic financial statements.

Accounts Receivable Management

A small business may provide goods or services to a large number of customers and managing the collections of receivables from those customers can be a value added service.

Accounts Payable Management

On the opposite side a small business may need assistance managing its payments to vendors and suppliers, something a bookkeeper can provide.

Financial Analysis and Key Performance Indicators

Another value added bookkeeping service is providing an analysis of the financial information and tracking trends in the business through key performance indicators. By studying how the business is trending over time and how certain balances change over time, a business owner or manager can more effectively run their business.

To provide the best mix of services for your business, you can contact us for a consultation on how we can deliver the bookkeeping services you need.

In addition to providing extensive bookkeeping services, templates can also be set-up for a small business to assist owners and managers with managing the accounting. These can provide some guidance to ensuring the companies bookkeeping is delivered effectively. Our team can be consulted with to provide effective templates for owners and managers to use themselves.

Software Support

A key component of an effective bookkeeping service is the utilization of software tools to provide the needed support. The core software requirement is the use of an accounting program like QuickBooks to facilitate the entry and tracking of financial transactions and balances. The program also provides many reporting options and customer support tools as additional features to help a business grow.

In addition to an accounting program, there are additional software support tools that can be used by a bookkeeping service to support a small business. These can include receipt processing software and bank statement integration to facilitate the accurate and automated entry of financial information. The degree of software support used will often vary depending on the needs of the business and assessing the cost of each additional feature. Our team can ensure the most effective software solution for your needs chosen and integrated to deliver your bookkeeping services.