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Bookkeeping

Why is Accounting Important for Small Businesses?

Why is Accounting Important for Small Businesses?

Traditionally, small business owners hire an Accountant to complete tax returns. After many years of working as an Accountant in the corporate world, I realized there were much more vital reasons for small business owners to hire an accountant. Decision Making Accountants,...

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Black Holes in Bookkeeping (Part 2): Accounts Receivable

Black Holes in Bookkeeping (Part 2): Accounts Receivable

In this second article of a four part series, we are discussing how accounts receivable “black holes” may impact financial reports for your small business. Accounts receivable is the amount owed to you by your customers. When any of the following exists, your financial...

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What is Accounting?

What is Accounting?

Accounting consists of three elements: Bookkeeping, Operational Accounting and Tax Accounting. Bookkeeping Bookkeeping is the platform for accurate financial reports and there is more to it than meets the eye. Sadly, the perception is that to be a bookkeeper you just need to...

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Black Holes in Bookkeeping (Part 1): Cash transactions

Black Holes in Bookkeeping (Part 1): Cash transactions

This is the first of a four part series to help small business owners identify some of the “black holes” that often exist in financial reports prepared by their bookkeeping service. When income is being recorded, based on deposits on the bank statement, the following could be...

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