Gracious Bookkeeping Enterprise LLC (GBE)

• What is bookkeeping?

Bookkeeping is the process of recording your company’s financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process for a few reasons. When you keep transaction records updated, you can generate accurate financial reports that help measure business performance. Detailed records will also be handy in the event of a tax audit.

 

•  What are the benefits of bookkeeping for small businesses?

Bookkeeping helps you budget for your business, prepare for tax returns, keep your business organized and so much more. It's something you shouldn't avoid if you want to keep your finances in check and to make sure the auditors doesn't come and cause you even more problems.

Bookkeeping makes life easier so you can focus on growing your business.

 

• What are some of the best bookkeeping software options for small businesses?

Intuit's QuickBooks Online has been one of the most common accounting software programs used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or a mobile app:

 

• How often should I be doing my bookkeeping?

As business owners, it is recommended to have a bookkeeping done by a professional bookeeper. Some business owner do their bookkeeping every single day, whilst others do it at the end of every week. While going over your account statements, entering data and doing other tasks may seem like a bore, it's essential that you do your bookkeeping at least once a month.

 

• What happens if I don't keep up with my bookkeeping?

If you put a full stop to bookkeeping, your books will no longer show a clear picture of your company's financial viability. Without accurate records, it can be difficult (or nearly impossible) to track cash flow projections and statements.

 

• How do I get started with bookkeeping for my small business?

Bookkeepers often allow you to choose different service levels depending on your budget. That means you can start out with basic bookkeeping at a modest cost and ladder up to more advanced services as your business grows. To get started, contact us by clicking on the link below and leave the work to a bookeeper you can count on.