Owning and operating your own business is a rewarding way of life. Everyday, you wake up to do the job you love. However, there are many aspects to owning a business that take you away from focusing on your operations. Many of these tasks fall under the purview of a talented bookkeeper. When you hire a bookkeeper, you not only have someone to take on these tasks, but an expert on hand who is capable of managing your books in a professional manner.
When you hire a bookkeeper, you will hear a lot about the accounting cycle. This is the series of tasks performed by a bookkeeper each month to ensure that your financial records are in order. This includes entering transactions, reconciling bank statements, and preparing monthly financial reports.
When utilizing accounting software such as Quick Books, Xero, or Wave, you benefit from a robust behind the scenes program that manages your books. These platforms help track everything from customer bids, accounts receivable, and bills to your expenses and revenues. The reports that are generated at the end of each accounting cycle and year are polished and accurate. These can be used to share with investors, lenders and your CPA for tax preparation.