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Bookkeeping

To make and keep your business successful, you’ll need to have a good grasp of accounting basics.

Bookkeeping for Your Business

Bookkeeping is a part of accounting, but they’re not the same. Bookkeeping is regular recordation and organization of a business’s financial transactions. Accounting encompasses more and is the process of recording, analyzing, and reporting financial information. Accurate bookkeeping is essential to understanding your company’s financial position and gives you the information to make sound business decisions.

There are some basic steps for keeping good books for your business.

Understand Your Business Accounts
We’re not talking about bank accounts, but rather your accounts for assets, liabilities, income, expenses, and equity. You need to be able to record each transaction in the appropriate account.

Create a Tracking System
Have a system in place to track and organize each account through the use of a ledger. A ledger is a centralized place to collect and record all account data — for example, a book or bookkeeping software.

Keep documentation of every transaction
It’s important to keep records of all your transactions. This can be a receipt, invoice, purchase order, or some other type of financial record of the transaction.

Periodically balance your books
Whether it be weekly, monthly, or quarterly, look at your debits and credits to see that the totals match.

Get the help you need
While you can do your own bookkeeping, you also have the option of using a bookkeeping software, hiring your own bookkeeper, or outsourcing the task to an accounting service.

Business Credit
Business credit is a company’s ability to obtain financing. Having credit allows your business to purchase what it needs to operate, such as products or services.

 

Features of Bookkeeping

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Protect yourself
Ensure you're not on the hook for business liabilities.
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Make things easier
LLCs have simpler record-keeping rules. Corporations are stricter.
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Save on taxes
You get to decide how you're taxed—as an LLC or a corporation—for potential savings.

Pricing built for businesses of all sizes.

Always know what you’ll pay.

POPULAR

US Residents

$ 00/month

Regular Filing (3-5 business day)

%30 Discount

Internationals

$ 000/month

Regular Filing (3-5 business day)​

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