Bookkeeping is a very important role in keeping the company's financial transactions accurate. Transactions are identified, approved, sorted and stored (usually in a software program) so they can be later retrieved and used in the financial statements and other reports. Keeping accurate transactions helps business owners or managers determine the profitability of the company and its' viability to stay open.
A company's financial transactions may include:
Bank loans for business or equipment.
Purchasing equipment or office supplies.
Office space rent.
Sale of merchandise or services.
Employee wages or salaries.
Insurance for business, vehicles, and/or employees.
Product supplies for inventory.
Transactions are often sorted into hundreds of accounts including Cash, Accounts Receivable, Loans Payable, Accounts Payable, Sales, Rent Expense, Salaries Expense, Wages Expense, etc. The amounts in each of these accounts are then included on the company's financial statements on a monthly, quarter, or yearly time frame.
With a possibility of hundreds of accounts and thousands of transactions, some small or medium sized businesses need help keeping the daily transactions organized and applied properly for best bookkeeping and accounting practices. This is where we can help.
The Tax Shelter offers a complete line of bookkeeping services for small businesses and medium sized businesses. No matter what your accounting needs are, we have the staff and the experience to serve your needs. We can design a bookkeeping package, which includes only the services that you need, to efficiently handle your bookkeeping service needs. For more information, contact us below.