Why You Need a Bookkeeper
Additional Information
By having an outsourced back office solution in place, entrepreneurs can grow their business without the worries of taking care of the day-to-day office tasks. The failure of many businesses comes from sending too much time and resources on things that could be handled in a more efficient manner.
Salty Beach Bookkeeping has seen what happens to small businesses, and we want to make sure that you can have access to the most reliable and cost-effective bookkeeping services.
Bookkeeping can be time-consuming, especially if it isn’t done efficiently. You should spend more time taking your business to the next level – not on how much “book work” you must catch up on. That’s why you need to have an efficient system, so you can keep track of how much you’re bringing in and taking out.
How the bookkeeping process works..
The purpose of bookkeeping is to record the financial activity of a company or organization, and the effect it can have on its cash flow. It can be done manually, but an electronic method will be more common in today’s Digital Age.
Part of the process is to keep track of documents associated with recorded transactions, which can include:
- Invoices
- Receipts
- Checks
- Deposit Slips
Other banking information may also be recorded, and each entry is totaled at the end of every month. This is done according to money taken in (under the “debit” column) and money taken out (under the “credit” column).
Bookkeepers can use this information to create financial statements, which can include:
- Income Statements – Shows a summary of the company’s profit or loss.
- Balance Sheets – Shows the company’s financial position.
- Cash Flow Statements – Illustrates the company’s cash flow.
- Statements of Changes in Equity – Shows the change in a company’s cash reserves and retained earnings.
Every one of these documents can give a company some insight about its financial situation.
By outsourcing your back office, you can stop stunting the growth of your business and start doing what you love and become successful. The failure of many businesses comes from spending too much time and resources on things that could be handled in a more efficient manner. Salty Beach Bookkeeping has seen small businesses fail without outside help. We want to make sure that businesses can have access to the most reliable and cost-effective Southern Illinois bookkeeping service.
There are two main types of bookkeeping systems, and both of them have their uses and their advantages.
Here is a list of the two main bookkeeping systems:
- Single-Entry System – It involves a “cash book” that is like a checking account statement. It records the income and expenses associated with that business or organization.
- Double-Entry System – Every transaction is recorded in at least two different ledger accounts.
The single-entry system is enough for most small businesses, but a double-entry system can be used to record additional information. It can include information with regard to assets, liabilities, equity, expenses, and revenue accounts.
How we can benefit you
As fellow entrepreneurs (and financial professionals), we know how a bad accounting system can affect a business. We’ve developed the most efficient and effective bookkeeping process. By working with us, you will be able to enjoy the fruits of our labor.
Don’t let lack of time be an excuse for bad bookkeeping. Let our bookkeepers do the work for you, so you will never have to worry about being behind on your finances. That way, you won’t waste precious time on tedious tasks you can hand off to someone else.
Some of the bookkeeping services we offer include, but are not limited to:
- Bank Reconciliation
- Payroll and Tax Reporting
- Sales and Use Tax
- General Ledger
- Accounts Payable
- Accounts Receivable
- Balance Sheets
- Cash Flow Reports
- Bookkeeping Cleanup
- Custom Financial Reports
- Non-Profit Bookkeeping
- Real Estate Accounting by Property
- Outsourced Bookkeeping
- Spreadsheets
Our team is trained in all aspects of financing, and we can make sure your books are in order. That way, you can focus on building your business and taking it to the next level.
We are trained to manage a company’s financial records, and they deal with numbers every day. Not only can we keep track of your books, but we can also help you prepare your taxes. So, we can be your “one-stop shop” for all your accounting needs.
If you want more information about our premier bookkeeping service, contact us to schedule your FREE consultation. We would be happy to speak to you about our process and what we can do for your business!
