As a business owner, we always hear about “keeping our books” – but what does that mean? Why would one need a bookkeeper? What does a bookkeeper do?
Accordingly to Dictionary.com, Bookkeeping [boo k-kee-ping] means “the work or skill of keeping account books or systematic records of money transactions (distinguished from accounting).”
But what does that really mean for you and your business?
Oh well, bookkeeping is simply keeping track of your finances. A traditional bookkeeper will keep track of:
- Accounts Receivable;
- Accounts Payable;
- Payroll processing;
- Taxes: Payroll, Sales and Use Tax;
- Recording depreciation and other adjusting entries;
- Providing Financial Reports
A modern bookkeeper – like us folks at My Cats And Me – will help you manage your books and educate you on the meaning of it all. It will help you understand your numbers so you, as the business owner, can make good decisions.
You, girlfriend, might be thinking “how can a bookkeeper helps me with my small/creative business?”
Oh well, my friend, a bookkeeper can get all your $$ducks$$ in a row. A bookkeeper can take away your worry from where your finance stand and really shows where your business is at.
If numbers are not your strongest suit, a bookkeeper will give you back some time to work on what matters the most for your business. All while having a good grasp of where your business stands financially and, most important of all, understanding it.
A good bookkeeper can show you your business financial health. Are your prices fair, is your shipping costs too high? Are your payment terms good for you? How are your cash flows looking? How can we better plan for tax season?
We, your friends from My Cats and Me, are giving you a treat. Subscribe below to receive our amazing bookkeeping terms cheat-sheet.
Whether you’re looking to some guidance to DIY your bookkeeping or having us taking it out of your plate – you know where to find us.
We can’t wait to be a part of your journey and help you make your business flourish!