Questions and Answers
What is a bookkeeper?
A bookkeper is a person who records the accounts or transactions of a business.
Why do I need a bookkeeper?
You need a bookkeeper if you do not have the time, or do not have the knowledge how to record and keep your financial records accurate and organized.
Why are accurate financial records important?
Accurate financial records are required by law. Financial records are also used to produce financial statements. Financial statements are necessary for filing taxes.
What is the difference between a bookkeeper and a CPA?
A bookkeeper records and keeps your financial records accurate. A CPA uses those financial records to file your taxes. Not all CPA's specialize in bookkeeping, and not all bookkeepers specialize in taxes.
I have quickbooks that should handle all my bookkeeping for me, right?
Quickbooks is a software for bookkeeping. The software makes mistakes, and still needs a human to complete all bookkeeping tasks, and most importantly verify for accuracy.
Organized books can help you answer questions!
How much of a profit did I make this month?
How much were my expenses?
Can I afford to expand my business?
How much cash do I have available?
Who do I owe money to?
Who owe's me money?
How much will I owe in taxes?
How much am I spending on "x,y,z"
How much in taxes am I paying this quarter?
How do I know if I have messy books?
Your balance sheet is not in balance
Your book balance and bank balance are not matching
Clients are not paying you back on time
You are missing bill deadlines
You have been missing tax deadlines, and keep getting fined
You did not keep records during the year and missed out continuously on tax deductions
You have not been setting aside enough cash for estimated taxes
Expenses are growing larger and larger and you're not sure why
Difficulty tracking income and expenses
Your finances are not in order, and you're missing out on investment opportunities
Your CPA is charging you more due to your books not being organized
