When you are looking for low cost bookkeeping, you may realize how difficult it can be to find a good bookkeeper in the first place. Below, we’ve put together four bookkeeping basics that will help you to know what you’re getting when you hire a bookkeeper to work with you. You may not know all it takes to keep your books straight; but a bookkeeper does!
Keep your business and personal expenses separate.
The very first step to getting on top of your business finances is separation of your money. You need to remember that liability is a big issue, and if personal expenses and business expenses are split, you can keep on top of them all without being liable for personal debts. Filing taxes also becomes more complex when you mix your expenses, and a bookkeeper can help you to figure that out.
Choosing a bookkeeping system
It’s so important that you have a good bookkeeping system, whether it’s a single-entry or double-entry. A good bookkeeper will be able to figure out which one you need for your business, and the right system will keep your finances in good shape.
Cash or accrual?
Choosing the right accounting method is another step in the bookkeeping process and it’s an important decision to make. Your bookkeeper of choice can help you to decide which one will be better for your business finances where you may find it a little difficult to choose for yourself.
The right accounting tools
Every single transaction you make has to have a category when you enter it into the books. This will help your bookkeeper to catch more deductions and this makes life a lot simpler should you be audited.
Thanks for taking the time to learn more about our services, we hope you have found this post informative. Visit www.kissmybooks.com to learn more about our bookkeeping, tax return, and other services. If you have specific questions about Kiss My Books or would like to schedule an appointment visit us online at www.kissmybooks.com or call today at (925) 344-9667.
