How Long Should I Keep Records For?

Business owners should keep financial records for future reference and to prove their claims if the IRS comes knocking at their door. How long a financial document should be kept depends on what information it records – can be an expense or details related to an action or event. Many accountants, lawyers, and professional bookkeepers recommend keeping records for at least seven years so businesses can substantiate their claim, argument, or opinion in case an individual or organization brings a financial fraud lawsuit against them or can create a tax audit defense in case the IRS launches a financial investigation. [...]

Smart Monkey2022-07-26T00:45:12-07:00June 23rd, 2022|Bookkeeping, bookkeeping services|0 Comments

How To Choose The Best QuickBooks Bookkeeping Services?

Maintaining books of accounts is a time-consuming exercise that involves a lot of effort. An amateur bookkeeper is highly likely to make mistakes that can have a huge domino effect when maintaining books of accounts. If you decide to do your bookkeeping yourself, your employees may struggle to make time for their most important tasks. To free your team up for high value work, outsource your bookkeeping to a QuickBooks bookkeeping service near you. QuickBooks bookkeeping services use QuickBooks, arguably the best overall accounting software to maintain their clients’ books of accounts. It comes equipped with several advanced accounting, invoicing, [...]

Smart Monkey2022-07-26T00:54:27-07:00May 13th, 2022|bookkeeping services, QuickBooks|0 Comments

What Are Bookkeeping Services Exactly? Let Us Explain

Bookkeeping is a complex and time-consuming activity. Maintaining books of accounts requires expertise and involves a lot of effort. Instead of juggling the many tasks of both running your business and managing your bookkeeping, consider outsource your bookkeeping to a bookkeeping service near you. Bookkeeping firms offer end-to-end bookkeeping solutions. Their team is comprised of seasoned bookkeeping professionals that can manage day-to-day bookkeeping tasks, taking pressure off their clients’ teams so they can focus on the things that matter most. In addition, a professional bookkeeping service eliminates the need to hire an in-house team of bookkeepers and invest in expensive bookkeeping [...]

Smart Monkey2022-07-26T02:31:11-07:00April 6th, 2022|Bookkeeping, bookkeeping services|0 Comments

What Are the Duties of a Full-Charge Bookkeeper?

Bookkeeping is a time-consuming and complex, yet necessary exercise. If you decide to do your bookkeeping yourself, you are highly likely to make a mistake that can result in compliance and other issues. Also, you may be unable to make time for your most important tasks. Instead, hire a full-charge bookkeeper. A full-charge bookkeeper performs a wide range of bookkeeping tasks. They work with the CPA firm hired by the client to prepare financial statements and tax returns. Here are some duties of a full-charge bookkeeper. Data entry A full-charge bookkeeper is responsible for feeding data into the business’s systems [...]

Smart Monkey2022-07-26T02:32:47-07:00March 18th, 2022|bookkeeping services|0 Comments

Planning to Automate Your Bookkeeping? Here’s What to Know.

Bookkeeping in Santa Rosa is a tedious and time consuming, but necessary task. When properly maintained, your books can help you assess overall business performance, create benchmarks, and take short-term & long-term strategic decisions. Manual bookkeeping is passe. People can make costly errors that can hit a business where it hurts the most. You cannot rely on a manual bookkeeping system or your employees may get bogged down with bookkeeping tasks and may struggle to make time for more important tasks. So, to prevent these common issues, consider partnering with a bookkeeping firm in Santa Rosa with years of experience. [...]

Smart Monkey2021-12-30T01:55:07-08:00December 16th, 2021|Bookkeeping, bookkeeping services|0 Comments

QuickBooks Online Best Practices

The popularity of QuickBooks grows with each passing year. This easy-to-use software is designed to help businesses manage taxes easily and increase business efficiency. QuickBooks has been constantly evolving and the QuickBooks team adds new safety and convenience features at regular intervals. QuickBooks Online is a cloud-based accounting software designed to help businesses manage and access their books online on different devices such as laptops, desktops, and smartphones. Here are some tips to help you get the most out of QuickBooks from a bookkeeper near you. Keep Track of Your Accounts Payable and Receivable Business owners have a lot on [...]

Smart Monkey2022-07-26T01:01:49-07:00May 11th, 2021|QuickBooks, bookkeeping services|0 Comments

5 Common Bookkeeping Mistakes

Bookkeeping is an extremely important task for every business owner. A quite tedious process, it usually takes up hours of time for business owners to document and maintain their books. This arduous process is one of the primary reasons why most business owners fail to keep their business finances maintained and updated on a monthly basis. If you are also worried about keeping up with the bookkeeping tasks for your business, then all you need to do is to look for professional, reliable bookkeeper near you. Choose the right bookkeeping service to fix your bookkeeping errors and keep your books [...]

Smart Monkey2022-07-22T06:24:55-07:00April 13th, 2021|bookkeeping services|0 Comments

How Can a Bookkeeper Help a Small Business?

Businesses must consider bookkeeping a high priority, not an afterthought. Financial records provide business owners with in-depth insights, helping them make prudent business decisions. You need to make sure your financial records are accurate and up-to-date. As a business expands and the number of stakeholders increases, it becomes increasingly difficult to track financial transactions. If your team is overworked, it makes sense to outsource your bookkeeping. Many business owners wonder if they need a bookkeeper or accountant. The confusion is understandable as both terms are often used interchangeably. However, there is an important difference between these two processes. A bookkeeper maintains [...]

Smart Monkey2022-07-26T00:41:37-07:00March 12th, 2021|bookkeeping services, Bookkeeping|0 Comments

What Do Accountants Do For Small Businesses?

We cannot emphasize enough the importance of keeping your financial data both current and accurate. When you regularly update your books, you get an accurate picture of the status of your business. You can use up-to-date data to make informed business decisions. Maintaining books and accounts is a tedious, time-consuming process. As your business grows, keeping track of your business cash flow can seem like an uphill battle. You are sure to have better things to do than tracking payments and receipts. When the accounting tasks of your business are too much to handle by yourself, hire an accounting firm near [...]

Smart Monkey2022-07-26T02:35:13-07:00January 21st, 2021|bookkeeping services, Small Business Bookkeeping|0 Comments

How to Set Up Accounting Bookkeeping Services for Small Businesses

Every company is required to maintain books of accounts. Every economic event that impacts the business’s finances must be recorded in books of accounts. Though an essential task, maintaining books of accounts can be a major headache for businesses. Maintaining financial records requires a lot of time and effort. Why Outsourcing Your Bookkeeping Makes Sense There are several problems with in-house accounting. If you decide to do everything yourself, you will have to hire a team. Hiring a team consisting of a full-time bookkeeper and accountant involves significant costs. What Do Accounting Firms Do? To save man-hours, many businesses outsource [...]

Smart Monkey2022-07-26T00:57:40-07:00December 24th, 2020|bookkeeping services, Accounting Services|0 Comments