Bookkeeping Tips and News

Bookkeeping Basics For Small Businesses Owners

Bookkeeping Basics for Small Business Owners

When you buy a new car you want reassurance that you scored a great deal. You’ll probably listen to the engine sounds, check the oil, check the tires and much more. It’s unlikely that you’ll pack it away in your garage or check on it every second. However, as you keep using your vehicle, you’ll naturally keep performing certain checks to make sure your car is still in good condition. In the same way, small businesses need bookkeeping services when [...]

Read more...
golden rules of bookkeeping

6 Golden Rules To Follow When Bookkeeping

Many people do not realise how important solid bookkeeping is to the success of their business. While making money is important, there needs to be a system in place to ensure that every bit of money is accounted for. Whether you decide to handle things on your own or call in a professional, here are some golden rules that need to be followed. 1. Never Mix Business And Personal Finances This applies to business owners as well as those they may [...]

Read more...
hire a bookkeeper

Why Should You Hire A Bookkeeper?

Bookkeeping involves the recording of important financial transactions of a business on a day-to-day basis. A bookkeeper should maintain accurate financial records of a business and keep them up to date. Accuracy is the keyword when it comes to keeping books on behalf of a business. Bookkeeping is a highly specialised job that should be performed by a professional who is trained and experienced in the subject. A bookkeeper is a person who maintains accurate financial records on behalf [...]

Read more...
A Beginner's Tutorial to Bookkeeping

A Beginner’s Tutorial to Bookkeeping

Bookkeeping is the act of recording and classifying different accounting transactions in any business and the techniques used for such processes. For small business owners, there is the option of doing your own bookkeeping, hiring someone else to do it for you or outsourcing it to a third party. Taking this into consideration, following is what you need to know about bookkeeping as a beginner. Currently, there are numerous bookkeeping programs on the market. However, there are some things you [...]

Read more...
Why is Bookkeeping Important for a Small Business

Why is Bookkeeping Important for a Small Business?

Bookkeeping is an integral process for any small business. Business owners can choose to hire bookkeepers, outsource the work to them or do it themselves depending on their bookkeeping knowledge. Whatever they choose, bookkeeping ensures the following benefits to each and every small business. Ensures Proper Budgeting With thorough bookkeeping records, it’s easier to stick to a budget. Remember, small businesses have smaller resources so wasting these resources can hurt. If the income and expense are organised accordingly, you [...]

Read more...
10 Expectations To Set For Your Bookkeeper

10 Expectations To Set For Your Bookkeeper

Hiring a bookkeeper is definitely the right decision for a small business however, it’s even more critical that you find the right bookkeeper for your business. This process requires a lot of patience, research and due diligence. Remember, the bookkeeper is working for you so you should set the right expectations to make sure you achieve the best results. Taking the above into consideration, let’s take a look at the top 10 expectations you should set for your bookkeeper to help [...]

Read more...
What is the trial balance format in bookkeeping

What is the trial balance format in bookkeeping?

The trial balance format is a natural part of the bookkeeping process and crucial for a business to properly keep well-maintained books. This is done after a pre-set period. For some businesses that might be a monthly thing, for some, it will be quarterly. Almost all will have an annual trial balance, and it’s not unusual for a business to run their books so that there is a working trial balance monthly, quarterly, and annually. This format involves pretty [...]

Read more...
What is the Best Bookkeeping Software on the Market Today

What is the Best Bookkeeping Software on the Market Today?

Many small business owners do their own bookkeeping and accounting. This can be quite simple when you’re a new business and you don’t have a lot of staff or a particularly high turnover. Indeed, someone who is self-employed and who deals with just a few clients may be able to get by with bank statements and a spreadsheet. However, the bigger your business gets, the more important it becomes to have a systematic approach to bookkeeping. Using the right software [...]

Read more...
What are the Common Types of Bookkeeping Accounts

What are the Common Types of Bookkeeping Accounts?

Many entrepreneurs and small business owners are masters at creating exceptional products and services, winning over clients and building great teams. However, bookkeeping is far from their biggest strength. Being familiar with the different types of bookkeeping accounts is usually overlooked, but it is vital for gaining clarity on your business finances. Mastering your own books helps you prevent any potential cash flow issues before they lead to bigger problems within your business. Therefore, here are some of the common [...]

Read more...
The Differences Between Accounting and Bookkeeping

The Differences Between Accounting and Bookkeeping

Cash flow accountability and management are vital aspects of any business operation. With the precise recordings of transactions, coupled with correct assessment and processing, a business owner can have a solid foundation from which he or she can make decisions as well as plan their company’s growth. Recording and comprehending the primary financial needs of any company like expenses, sales and payments isn’t that difficult, but understanding the accounting needs of a company is not a walk in the [...]

Read more...

Numbers Pro

send