The process of recording and tracking your business’ financial transactions is known as bookkeeping. Good bookkeeping involves tracking all supporting documentation related to your business, which can include:
- Invoices
- Receipts
- Bills
- Purchase orders
Most companies today use bookkeeping software to record their operation’s financial history instead tracking these transactions by hand. After first starting your business, recording financial transactions, processing payroll, preparing financial statements, and posting credits and debits to a journal may not have taken very much time. But as your business grows, you may wonder if you should hire a bookkeeper or keep doing these tasks yourself.
Proper bookkeeping gives you detailed access to all of your business’ transactions, allows you to make informed decisions about your business finances, and makes the tax preparation process easier. If you’re struggling to find the time to do your bookkeeping and your books never seem to be in proper order, hiring a bookkeeper may be the way to go.
When you outsource your business’ bookkeeping, not only can you save time, but you could also save money indirectly. By having someone take over your bookkeeping, you can devote more time to sales, customer service, marketing, and other activities that grow your business and increase sales.
If you need a bookkeeper who will accurately and consistently track your business’ financial history, contact us at Goodson & Taylor CPAs. We’ve been helping small businesses with bookkeeping and other financial tasks for many years, and we can support your business and its initiatives.