Proper bookkeeping provides a trustworthy measure of a company’s performance. It also gives information for making broad strategic decisions, as well as a baseline for revenue and income targets. In short, once a business is up and operating, investing extra time and money in proper record keeping is important.
Due to the high cost of hiring full-time accountants, many small businesses do not hire them. Instead, small businesses typically employ a bookkeeper or outsource the task to a professional agency. One crucial point to make here is that many people who want to start a new business frequently forget the necessity of things like keeping track of every penny spent.
Data entry and bank reconciliation are the two most important duties in small business bookkeeping. Without these, all other bookkeeping Read More
Data entry involves recording financial transactions and balancingRead More
Accounts receivable (and credit control): Creating and mailing invoices, then following up toRead More
