Bookkeeping Payroll Services Business Success Essentials

1. Bookkeeping Payroll Services Business Success Essentials Bookkeeping is all about keeping track of all your business, particularly financial transactions. This process is exceptionally important for a myriad of reasons. Profit and Expenditures Bookkeeping allows you to have a clear picture of your business’ financial standing. Your financial statements will show how much you are earning, which aspects make up for the highest expenditures, is there enough money to cover payroll, production or expansion, and so much more. Taxes Accurate books mean accurate taxes; efficient bookkeeping means timely tax filing. It also helps ensure that you could take advantage of any available deductions. Loans and Investors Financial statements or your books are usually needed when you apply for a loan, a credit line, or the like. Your business books reflect your business’ financial health, so aside from lenders, it would also be a point of reference to investors if and when you decide to expand your business. Errors and Fraud Efficient tracking and continuous maintaining of your book of accounts help you track any errors or fraudulent activities that may leave you bankrupt or in the midst of legal problems.

2. Bookkeeping is crucial to your business’s financial health as well as your business’s success, so it is best to let professionals handle it. We, at Bookkeeping Pearland, TX, could efficiently handle everything for you; we will work with you for the success of your business. Bookkeeping Payroll Services Business Offers Bookkeeping requires time and patience, as well as a keen eye for details and a good head for numbers and financial transactions. Bookkeeping Pearland, TX, could deliver the outputs that your business needs and deserves. We have worked hard in developing and perfecting our bookkeeping process to do just that. Let us handle all your bookkeeping needs and free yourself from the headache and stress from bookkeeping errors. System and Tools We have a system in place that is up-to-date with the latest innovations and efficiently accomplishes tasks. Our strategy and any other tools ensure that all your records are accurate and in place. Professionals and Professionalism We have a team of qualified professionals that are trained to come up with only the best and most accurate results. We believe in trustworthiness and integrity and have worked hard to establish a good reputation; rest assured that all information you entrust to us is treated with respect and delicacy. Our team operates with the utmost professionalism in dealing with our clients as well as in dealing with our client’s data. We, at Bookkeeping Pearland, TX, could handle different aspects of your bookkeeping services. We keep careful track of all your financial transactions and maintain any or all books of the account needed for a smooth-running business. We monitor all your Cash Transactions to give you a clear grasp of where your money is going. This includes manufacturing or production costs, office overheads, payroll as well as any other expenditure. We keep track of all your Accounts Receivable or the money owed to you by clients who bought your products and services on credit. We ensure that invoices are accurate and sent on time and as often as necessary for high accounts receivable turnover. Bookkeeping Pearland, TX could also handle your Accounts Payable or the amount you owe suppliers, vendors, or any other service providers. We ensure that all payments are made accurately and in a timely fashion to avoid any late fees as well as strain on your relationship with your suppliers and the like. We also handle bank reconciliation, another essential yet sometimes overlooked aspect of bookkeeping. Bank

3. Reconciliation is basically ensuring that the balances in your books of account are reconciled or is the same as that in your most recent bank statement. This process requires the current as well as the previous month’s statements, including t6he closing balance of the account. The bank reconciliation statements would confirm processed payments and deposited cash collections and identify any differences that would later be rectified. It is important to regularly perform bank reconciliations to prevent any fraudulent activities in your accounts and accuracy in all your records. G Checks recorded in the bank at a different amount to that recorded in your business records or not recorded in the company books at all. G Deposits in the bank record with an amount different from that in the business records or not recorded in the company books. It also helps you identify and address any problems that may arise, such as: Uncleared Checks These are checks that are not presented to the bank for a long time or ever. Checks such as these are listed as an on-going reconciling item, at least for the short term. You may want to contact the payee after some time to identify the reason whether the check never arrived, misplaced, and the like. You may want to void the previous uncleared check and issue a new one. Clearing Voided Checks There are also instances that checks would be presented to the bank after a long time. If you have already voided that check, the bank would reject it, so you may want to get in touch with the payee to clear things up. If you have already issued a new check, but the old check was cashed before you had it voided, you must immediately void the newly-issued check. This may cause quite a headache if both checks were cashed. This is why we are here to handle it for you. We could ensure that everything is accurate and in order that all things are done on time. Returned Deposited Checks Banks will sometimes refuse to deposit checks for different reasons but usually because it’s from a bank account in

4. another country. This will then require adjustments to bookkeeping entries. We could handle all these to avoid mistakes or confusion in your books. Secure your business’s financial health by keeping careful track of all your financial transactions and keeping a streamlined record of all your books of accounts. Let Bookkeeping Pearland, TX handle all your bookkeeping and payroll services. Please schedule an appointment with us today, and let’s start working together towards your business’ success.