In the last few blog posts, I talked about things like what you can expense, what softwares I recommend and even what your cash flow is telling you. Now, I want to really dig into who needs bookkeeping and what is bookkeeping anyways?
In the next few emails, we’re going to talk about what you need, how to accomplish it, the difference between a Bookkeeper and a CPA and much more so stay tuned!
In terms of Accounting, there are a few things your business needs:
Day-to-day record keeping of income and money received, this includes::
Day-to-Day record keeping of expenses paid and money spent, this includes::
Monthly Reconciliation of Accounts, this includes::
Monthly Review of Financials, this includes::
While this is not an exhaustive list, it should give you a good idea of what your needs are as far as Accounting goes. You can also download our Bookkeeping Checklist here if you haven’t already and that will give you even more specifics of what needs to be done and when to do it.
In the next blog post, I’ll be defining the difference between a Bookkeeper and a CPA and outlining who handles the tasks above!