Bookkeeping Basics For Business Owners

bookkeeping basics

You hire us to manage your books, invoices, receivables, payables, and store necessary paperwork.

But as a business owner, it’s best to have a big picture overview of what is most important for tracking your spending and income. 

Here is what is important to know:

  • Pick a software system like QuickBooks Online that you and your team can access online and commit to it.
  • Link all of your business accounts, including credit cards to the software
  • Based on the structure of your business, choose appropriate categories to allocate all expenses and automate these designations
  • Keep your business and personal expenses separate
  • Look at your dashboard weekly and monthly to get a big picture overview of your financials
  • If you have employees or are set-up as an S-Corp, run payroll and taxes monthly
  • Set a quarterly review with your board, bookkeeper, accountant or CPA to make sure you are on track with taxes for the year.

The success of your business is dependent upon understanding and managing your finances.  Bookkeeping will help you analyze and make informed decisions about the direction and growth of your  business. We will help you make sense of your finances so that you can focus your time in developing your craft.