Examples of Bookkeeping Services
- Account Reconciliation
- Error Correction, Reclassifications
- Setup & Cleanup of QuickBooks and Financial Records
- QuickBooks Training
Accounting vs. Bookkeeping:
Accounting is not bookkeeping and vice versa. An Accountant and Bookkeeper needs expertise in both, and you, as the Client, or employer should demand nothing less. Even highly proficient Bookkeepers can create problems for a business’s financial records if they’re not familiar with fundamental accounting principles, let alone more complex transactions. It’s like saying, “I’m a great Formula-1 Race Car Driver, but I know nothing about Cars.” Having and maintaining good records (that tie to your source data) is the fundamental basis toward understanding how your business is performing. But, it also can enable you (in certain circumstances) to make better quality decisions. Without accurate data and records, you’ll be guessing, at best and throwing salt over your left shoulder for luck. Keep your salt for cooking. We have the accounting and bookkeeping expertise to address whatever issues you may have.
Accounting and Tax Implications of Transactions:
We have the foresight and understanding to advise Clients on the accounting and tax implications of certain transactions before they’re executed. Should you elect a Section 179 deduction for some equipment and write the entire purchase price off or take the depreciation deduction over time if the business is expected to perform better or worse in the out years? You, the Client may not care or want to defer to the judgement of your Accountant on what to do. But, ask yourself – how well does my Accountant understand my business so that I’m comfortable that the best decision(s) will be made?
Look, Bookkeeping can be a drag – it’s not sexy and it takes time to properly characterize transactions, reconcile accounts, adjust entries and establish charts of accounts. so statements (Profit & Loss and Balance Sheets) are logical and easily understood by the reader. But, Bookkeeping, drag or not, is fundamentally important. What are you going to use for a Tax Return if you “cut corners” on having solid records? Pretty risky. I’ve helped clients understand the importance of using QuickBooks workflow processes and the problems that are created when these processes are bypassed or used in ways, not intended. I’ve resolved erroneous or duplicate entries and corrected books/records for many Clients to preserve their historical data without starting from scratch with a new file.
Available for QuickBooks and Excel Training:
I’m also available for QuickBooks and Excel training and can accommodate small as well as large groups. If you would like to learn more, contact Mike Here. I can create a plan that best suits your needs.