As a Miami Accountants teaching your small business clients how the income statement and balance sheet dictate operating performance and business longevity
Bookkeeping oversees company finances by maintaining financial transactions and establishing accounts; posting transactions; ensure legal requirements maintaining accurate books on accounts payable and receivable, payroll, and daily financial entries and reconciliations. The Bookkeeping performs daily accounting tasks such as monthly financial reporting, general ledger entries, and record payments and adjustments. Additionally, many Bookkeeping s Miami also assists with basic HR duties like new hire documents, compliance, and temporary disability insurance and workers’ compensation filings, making them an indispensable part of an organization’s fiscal fitness.
As the business owner, if you don’t understand the different types of “accounts” your Bookkeeping uses to organize your finances, measuring the success (or failure) of your efforts will be futile.
Bookkeeping records financial transactions, maintain financial records, fact checks financial data, and update financial statements. Bookkeeping s ensure accounts are current and accurate, using specialized software, spreadsheets, and other tools to track and manage data. Some Bookkeeping s track all income and expenditures for a company while others may work for larger organizations on specific projects and accounts, or particular departments.
The two most common reasons clients come to us for Miami Bookkeeping Services after learning a valuable lesson are:
- the client does the books on their own and made mistakes that cost them time and money
- they thought a cheap data entry person was enough to do the books
The main reason is the client does their bookkeeping which results in misclassifications and errors. They now have to hire a company to clean everything up. This results in unnecessary time and monies spent, delayed filing of tax returns, and a chance the books are wrong.
The second reason is that the client may have hired a data entry person assuming they can fulfill that role at a cheaper rate. Bookkeeping is more than just data entry. There are rules and guidelines along with knowing the software to better streamline and utilize everything QuickBooks has to offer.
Hire an Experienced Virtual Bookkeeping
Take these valuable lessons from us because hiring an experienced and competent Bookkeeping is essential to ensuring an accurate set of books.