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Have you ever wished you could review all of your revenue and expense data in an easy-tounderstand document? Learn more about bookkeeping services. An important part of any business is Bookkeeping. It is essential because it allows a business owner to collect data about how the business is doing. A small business owner is not exempted from keeping the financial records of the company. He/she can do it herself or can hire a full-time bookkeeper. Or in common practice, one can outsource it to an accounting firm that offers bookkeeping services. Bank reconciliation is one of the bookkeeping services that an outsourced bookkeeper can perform in a small business. It is a document explaining the distinction between the cash balance as per the bank's monthly statement of account and the company's cash balance as per its books at a specific date, generally the end date of the statement of account. This is a significant activity to check for posting errors in the records of both banks and


companies. The financial statement preparation & bookkeeping services are important for businesses to maintain cash book to record both the cash and bank transactions. Trial balance sheets are also one of the bookkeeping services to be performed by the bookkeeper. A trial balance is an accounting worksheet that is used to check for the mathematical correctness of the accounting balances. This document can help the business owner in decision-making. The accounting statements are used only for internal decision-making purposes. The business owner can find out about the financial position of his/her business and its financial performance, which can be beneficial in making economic business decisions. These financial statements are also useful for other stakeholders of the company like its employees, its creditors, its suppliers, the government and even the general public. If these financial reports are to be shared outside the business then a CPA needs to issue a report on them. For this reason, it would be advisable to have a licensed CPA firm to handle your bookkeeping.


The financial statement preparation & bookkeeping services provide a record of each financial transaction that takes place. The maintenance of the general ledger is also one of the important service that the bookkeeper must perform for the business owner. A general ledger is the heart of the company's accounting records. All raw data are recorded, classified and summarized into the general ledger and used as the basis in the preparation of trial balance and financial statements. Maintenance of Accounts Receivable and Accounts Payable must also be one of the bookkeeping services. Accounts Receivable is a listing of all unpaid transactions of the company's customers while Accounts Payable is a listing of all unpaid transactions the company owes to different suppliers. Both accounts must be updated because they involve cash. When outsourcing bookkeeping services, a small business owner can keep in mind the following tips: decide what bookkeeping services the company needs; search for a bookkeeper near the location of


the business and have a selection list of all possible bookkeepers who are near the business location. One should have a list of services they offer and the fees of each bookkeeper.

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financial statement preparation & bookkeeping services  

Have you ever wished you could review all of your revenue and expense data in an easy-to-understand document? Learn more about bookkeeping s...

financial statement preparation & bookkeeping services  

Have you ever wished you could review all of your revenue and expense data in an easy-to-understand document? Learn more about bookkeeping s...

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