Bookkeeping can be a complex and time-consuming process. No wonder business owners may find it tedious and overwhelming to keep up with their bookkeeping. If you decide to keep your books yourself, you may overburden your teams without even realizing it. Moreover, it’s highly likely that your employees will make costly bookkeeping mistakes.
Instead of trying to do the bookkeeping yourself, outsource it to an accounting and bookkeeping firm in Santa Rosa. A bookkeeping firm will manage your business’s financial reporting and save you the costs and headaches of hiring and managing an in-house team.
Professional bookkeepers know the ins and outs of the bookkeeping process. They take all the necessary precautions to avoid bookkeeping mistakes. A professional bookkeeper will perform bookkeeping tasks so you and your team can focus on your business.
Here are some bookkeeping services professional bookkeepers offer.
Day-to-Day Management of Accounts
A professional bookkeeper will keep on top of your business accounts. They will keep track of every purchase and sale and monitor your cash flow.
Monthly Reporting
Your bookkeeper will prepare all the important financial statements including balance sheet, cash flow statement, income statement and payables and receivables reports for every month. The professional will not just throw numbers at you, they will break them down, explain things, and draw your attention to pressing issues.
Bank Reconciliation
Your accountant and bookkeeper near you in Santa Rosa will compare the transactions in your books of accounts with the transactions in your bank statements. If the transactions do not match, your bookkeeper will flag inconsistencies.
Payroll Processing
Payroll processing is complex and one of the most important business processes. Businesses around the world waste several hundred thousand of man-hours processing payroll and rectifying payroll mistakes every year.
A bookkeeper can help prevent costly payroll mistakes. Your bookkeeper will not only process salaries, they will maintain records related to your employees’ work history.
Tax Filing
Bookkeepers are responsible for keeping track of their client’s tax liability and setting aside funds to meet them. Bookkeepers keep tabs on sales tax collected, make payments, and file reports. You can miss filing and other important deadlines, your bookkeeper won’t.
Inaccurate records can land you in trouble. Your bookkeeper will make sure your records are accurate, helping avoid costly mistakes. The professional will work with your accountant to figure out ways to maximize deductions.
Accounts Payable and Receivable Management
Managing accounts payable and receivable is a time-consuming endeavor. Your bookkeeper will take care of different tasks such as monitoring ageing receivables, chasing overdue accounts, watching what’s due, and deciding when payments should be made to ensure you are able to make time for the work that matters.
When local businesses are searching for accounting and bookkeeping near them, they are searching for a professional that will help optimize their records for efficient budgeting, accurate and detailed analysis, and overall safekeeping.
Virtual Jeannie Bookkeeping Services is committed to helping businesses get their financial house in order. We offer a wide range of bookkeeping services under one roof. To learn more, call (707) 664-1425.