FAQ
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What services do you offer?
We offer bookkeeping and accounting services as well payroll and tax preparation for individuals and small businesses.
Feel free to contact us to see how we can help you or your business stay organized and grow. We love data and we would love to create an environment in which you have the information to make the best decisions possible for you or you business.
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What is Bookkeeping?
Bookkeeping is the process of recording and organizing all the financial transactions of a business. It involves the systematic and consistent documentation of daily transactions, ensuring that records are accurate, up-to-date, and comprehensive.
This includes recording sales, purchases, receipts, and payments, managing the general ledger, and preparing initial financial statements. This helps businesses track their earnings and expenditures, aids in budgeting, and provides the data necessary for more detailed financial analysis and reporting.
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Why is Bookkeeping important?
By systematically recording and organizing all financial transactions, bookkeeping provides a clear picture of a company’s financial health, facilitating better financial management and planning.
This transparency enables businesses to comply with tax laws and regulatory standards, streamline budgeting processes, and accurately assess their financial performance.
Moreover, well-maintained financial records are crucial for audits, attracting investments, informing strategic business decisions, and ultimately reducing the risk of financial mismanagement while enhancing operational efficiency.
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How often will you update our books?
We also provide custom schedules tailored to your unique requirements, ensuring your financial records are always up-to-date, accurate, and ready for reporting.
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How is Bookkeeping different from accounting?
The Bookkeeping process refers to recording financial transactions.
Accounting refers to interpreting, classifying, analysing, reporting, and summarising financial data.
Bookkeeping and accounting vary significantly in their scope and the levels of analysis each requires.
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What is included in your bookkeeping services?
Our services are tailored to your needs. We offer comprehensive financial management, including accurate tracking of income and expenses, account reconciliation, and preparation of financial statements such as profit and loss statements, balance sheets, and cash flow reports.
We manage accounts payable and receivable, integrate payroll, and ensure your financial records are tax-ready.
We provide ongoing financial advice, including budgeting, cash flow management, and cost control. Our services also ensure compliance with financial regulations, maintain organized records, and offer cloud-based solutions for real-time access to your financial data.