A.C. Bookkeeping

Bookkeeping Service isn't the same for every company.

Updated: Mar 9, 2019


Bookkeeping entails many different tasks, often which require a separate person or department for each task.


What do bookkeeping tasks consist of? Are you trying to do all of this yourself or with a small staff? Let's dive right in to the meat and potatoes of bookkeeping.

“Before I do anything, I ask myself....'Would an idiot do that'? and if the answer is yes, I do not do that thing.” ~Dwight Schrute

The main difference between bookkeeping and accounting is in the financial reporting and advising. Bookkeeping is the process of ensuring the accuracy of these financial reports, so your accountant can correctly analyze your business and give sound advice. Bookkeepers make sure income reported is really income, expenses are really company expenses, and transactions are correctly categorized and accounted for.


There is also the decision of keeping your books as cash accounting or accrual accounting. This is a conversation for another time but basically, do you want to record revenues when the money is in your hands or do you want to record revenues received as soon as that contract deal is signed?....


Bookkeeping Duties


That 100 mile long paper trail isn't going to be managed with just a few hours a day. This requires daily work and monthly reconciliation. Here are just some of the tasks you and your staff are faced with in up-keeping your company's paper trail:


Invoicing

Bill payments

Bank reconciliations

Payroll

Payroll taxes

Recording income

Recording expenses

Sales tax

Classifying transactions


How many bank or credit card accounts are there to keep track of? Do you have petty cash? Where do all those receipts go? Who do you owe and have you remembered to reimburse cash paid expenses?


The list goes on and on. The paper trail that is bookkeeping needs tamed. Can your staff manage all these tasks within a 40 hour work week? Is everything being accounted for? Do you even know if your business is making money or overspending?


Your questions do have answers. Not sure what duties to outsource? Let's connect and see what bookkeeping tasks you are handling yourself and what you need help with. Your budget is important in the health and growth of your business. Let's create a plan that works for you.