Updated: Feb 1
Bookkeeping is the process of tracking all of your company’s financial transactions, so you can see exactly where your business is spending money, where your revenue is coming from, and which tax deductions you’ll be able to claim.
“Why bookkeeping matters”
1. It ensures that you don’t miss out on deductions
2. It can help you secure a business loan
3. It helps you catch banking errors quickly
4. It gives you a clear picture of where your money is going
"The first seven steps of a bookkeeping process"
First step: Separate your business and personal expenses
Second step: Choose a bookkeeping system
Third step: Choose an accounting method ex. cash or accrual
Fourth step: Categorize your transactions
Fifth Step: Organize and store your documents
Sixth step: Organize potential deductions
Seventh step: Make it a habit
"You run your business. We do your bookkeeping."
WMCPA Group bookkeeping service that does your bookkeeping for you.
Every month, a team of professional bookkeepers collect your financial data and
turn it into accurate financial statements. You also get simple, elegant program to
monitor your finances.