Modern technology is what we use. Our management of sales and expenses is accomplished through the accounting software programs, which enable us to monitor regular business activities. Among other things, we use technology to create reports for planning and tax preparation, pay bills, invoice clients, and more. giving you a mobile view of your finances. By providing them with regular updates on their financial situation, we give our clients peace of mind.
Bookkeeping is an important part of starting and growing any business. It is what distinguishes a hobby from a business. The knowledge gained from bookkeeping and accounting enables business owners to make profitable decisions to grow. Our professional bookkeeping services will assist your small business in producing useful, accurate financial records on a monthly basis.
You didn’t start a company to monitor your cash flow or perform account reconciliations. Though we did. We give you the freedom to concentrate on your business while knowing that every month you’ll get accurate, thorough books. It’s simple to get started whether you’re starting from scratch or changing bookkeeping services. Beginning with your onboarding, they will educate you on the details of your finances and work alongside you as your company expands. Your dedicated finance expert is there for you every step of the way.
Delete your email attachments and CSV exports. Expensify, QuickBooks, and Gusto are just a few of the services that we seamlessly integrates with. Initial information will be gathered by your finance specialist, and the procedure is then accurate and dependable.
You’ll receive a thorough report every month that includes your profit and loss, balance sheet, and cash flow statement from the previous month. Metrics that are significant for your industry are also included in your monthly financial reports. We determine your burn rate for startup bookkeeping. We offer inventory updates for online stores. Need assistance with money outside of your bookkeeping? To get the support you require, you can add more services. We’re here to support your expanding business, from creating budgets to billing your customers.
Benefits of using our bookkeeping services:
Here are some more wonderful advantages, in addition to having more time, peace of mind, and the ability to plan your finances:
- Professionals in the financial industry place a high priority on privacy and confidentiality. We are aware of the best practices for protecting your information, but a staff member from within might not share our commitment to morality. Or perhaps you don’t want to give your staff access to your entire financial record.
- Because you won’t need to hire employees for these positions and can therefore save on wages, payroll taxes, and other fringe benefits, having an outsourced financial team significantly reduces your payroll expenses.
- Those who are organized and ready to roll get the red-carpet treatment during tax season, while small businesses that are disorganized and unprepared are put on extension.
Why Does Your Small Business Need Bookkeeping Services?
Bookkeeping Is Critical to the Growth of Your Small Business. Accounting is all about using financial data to make decisions. Bookkeeping services are used to prepare this financial information. Bookkeeping tasks entail tracking your company’s assets, liabilities, income, and expenses in order to make informed business decisions. This is an ongoing process that should be done at least monthly. To save time and the headaches that come with it, it is a good idea to enlist the assistance of a professional bookkeeping team for your small business.
Our accounting firm is managed and directed by Certified Public Accountants (CPAs), the highest level of accounting certification. You can rest assured that your bookkeeping and accounting needs are in capable hands. Don’t put your books and financial reports in the hands of an uncertified person! We have many small business owners who trust us, and the number is growing. Our team’s experience and efforts go beyond basic bookkeeping for businesses, which is just one of the many reasons our clients rely on our accounting services.
Why Do You Require the Assistance of Professional Bookkeepers?
The word “complicated” probably comes to mind when you hear the terms accounting system, cash flow, assets, liabilities, invoicing, and monthly financial statements. You’re correct, too. Especially for those without a strong background in accounting or bookkeeping, these terms may seem intimidating.
Regardless of whether you have experience with bookkeeping or not, it is a necessary part of running a business. Bookkeeping is essential for all types of businesses, from small businesses to large corporations, and even non-profit organizations.
Yes, you can employ a part-time bookkeeper to complete the work, but how can you be certain that all the records will be kept confidential and that the tasks will be carried out without error? Future issues with that could arise, especially given that it concerns money. Then what is your best choice?
We advise to choose a virtual bookkeeping service that is outsourced!
By doing this, you will receive the confidentiality that you need as well as the knowledge you require to manage your financial reports.
The following are some additional advantages of hiring bookkeeping services for your company.
Why choose our bookkeeping services?
- Experience: In the area of bookkeeping, we have more than 25 years of experience. Stephanie is a QuickBooks Pro Advisor and holds a bachelor’s degree in accounting.
- Tech savvy: To provide a seamless experience, we are utilizing the newest cloud platforms. We constantly offer the most cutting-edge technology to our customers because we participate in continuing education.
- Affordable Prices: All our engagements are tailored to your needs and begin at $99 per month. You only invest what you require.
- Flexibility: Enjoy the advantages of variable costs over employee fixed costs. The services of an outsourced team are offered as needed. You suspect that your invoicing is falling behind. We can assist you in catching up.
- System Driven: We are a process-driven, methodical business. There are many moving parts in the background, though you won’t see them because they are hidden from view, that help us follow through on our commitments.
Important Elements of Bookkeeping
The proper upkeep of the books requires a few essential components, whether you do the bookkeeping yourself or hire someone to do it. To keep the books current, some of these tasks are performed more frequently than others. Other components are finished at specific times as needed to finish a business task.
- Keeping Transaction Records:
Journal entries are used by bookkeepers to document debits and credits. The general ledger, which keeps track of everything in one place, should have a line item for every financial transaction. The account number to which the debit or credit is applied is noted in the general ledger. To help reduce the possibility of data entry errors, the best accounting software automates a large portion of the process in journal entries for routine debits and credits.
- Transmitting Bills:
The bookkeeper will create and send invoices for money that needs to be paid by the business if it isn’t done at the time of the transaction. Relevant information such as date, price, quantity, and sales tax is entered by the bookkeeper (if applicable). In the accounting program, this results in the creation of the invoice and the creation of a journal entry that debits the cash or accounts receivable account and credits the sales account.
- Creating Basic Financial Statements:
Since accountants and business owners rely on the information gathered in bookkeeping, it serves as the foundation for all financial statements produced. Most accounting software enables you to automatically run common financial statements like an income and expense statement, balance sheet, and cash flow statement. These statements can then be used by accountants or business owners to learn more about the financial situation of the company.
- Completing payroll:
The bookkeeper will compile information on employee payroll, including hours worked and rates, at the conclusion of each pay period. The total pay is then calculated after deducting any necessary taxes and withholdings.
- Methods of Accounting:
You can choose between the cash method and the accrual method when it comes to accounting methods. The technique you choose should assist you in effectively managing the financial aspects of your company.
- Paycheck-Based Accounting:
The first accounting approach is a cash-based approach. As soon as money is exchanged, this method logs financial transactions. So, until an invoice is actually paid, you don’t record it. The same is true for unpaid bills; you don’t record them until they are settled. With this approach, you can get an accurate picture of your financial situation at any given time.
- Accrual-Based Accounting:
The accrual-based accounting method is another type of accounting method. Even if the bills haven’t been paid yet, this method still records the invoices. This approach is strongly advised because it provides information on the company’s financial standing based on known incoming and outgoing funds. You use the information to calculate growth because the funds are accounted for in the bookkeeping.
Reasons to Select Our Accounting Services:
- Certified Bookkeeper:
We will give your small business a dedicated bookkeeper to work with. You can email your bookkeeper at any time with questions as part of our online bookkeeping services, and you can also arrange phone consultations to go over your finances in more detail.
- Revenue and Expense Management:
You can track your income and expenses with the aid of our small business bookkeepers. We can assist you in setting up merchant services and payment procedures to collect payments. We can also assist you in budgeting your money and making easy, painless bill payments.
- Tax-Ready Financial Statements:
Tax-ready financial statements are generated by our bookkeeping services for small businesses. Your tax-basis income statement and balance sheet must be submitted with your small business tax return. We’ll make sure you’re ready with the help of our certified bookkeepers.
As one of the leading auditing companies, we offer cutting-edge accounting and auditing solutions to assist clients in successfully expanding their businesses. The highest priority for all our services is ethics, which guides their design and delivery. To help companies adhere to UAE tax and accounting regulations, CDA Accounting & Bookkeeping experts provide a wide range of services, including accounting, auditing, VAT-related services, CFO services, bookkeeping, due diligence, and much more. The best accounting and bookkeeping services in Dubai are provided by CDA, who never compromise on ethics or quality. Since CDA has experts who can handle any type of financial challenges in business, we are the top choice when it comes to selecting an accounting or audit firm in Dubai.
Knowing your company’s financial situation is crucial if you own a business. Having current and accurate books is the first step in the entire process. Bookkeeping enters all the data so you can extract it and use it to decide on hiring, marketing, and business expansion.
1. What exactly do bookkeeping services for small businesses entail?
Daily transactions can be entered into your company’s accounting software, end-of-month bank statement reconciliations can be performed, and monthly financial statements can be generated as part of bookkeeping services for small businesses. In addition to processing clients’ payroll and paying their bills, bookkeeping service providers frequently invoice their clients’ clients’ customers.
2. What makes accounting software different from bookkeeping services?
As we’ve seen, some bookkeeping services are only compatible with a select few accounting software programs, while others, like QuickBooks Live, are offered by companies that make accounting software. When evaluating your options, bear in mind your existing preferred accounting software if you have one.
3. What does a bookkeeper do?
Bookkeeping service providers frequently also pay their clients’ bills, process their payroll, and invoice their customers. A particularly competent bookkeeper will also provide their small business clients with services like cash flow forecasting and management.
4. What is live bookkeeping in QuickBooks?
As its name suggests, QuickBooks Live Bookkeeping is a QuickBooks-based service that enables you to hire QuickBooks experts to handle your bookkeeping. For users who already own this accounting software, QuickBooks Live is conveniently available as an add-on to QuickBooks Online.