Every business such as small, mid and large generates day to day some financial transaction and if you need to keeping all the financial transaction records include purchase, sales, income, and payment by an individual or organization so, bookkeeping is helpful to keeping all the financial transaction records properly for your business.
With the proper bookkeeper service, business proprietors should be worry-free. Read more
Book keeping by definition is a Systematic Recording of the company’s financial transaction. Is your box full of receipts? Are you unable to locate check payments made for you? If the answer is yes then its time for book keeping.
Accounting ends with score keeping but it begins with update. Here are some tips for easier book keeping. I hope that It could help you organize and keep your business on sound financial footing.
First, choose the right accounting system that suits your business. Read more
NJ Tax Records, or New Jersey tax records, are made easily available to the general public. In the past, viewing NJ tax records was such a cumbersome job. Why? Because you needed to physically go to the Tax Records Office and spend long hours going through the vast amount of files yourself. However, technology has now made the work much easier for you with just the simple click of a button.
Why Access NJ Tax Records?
Great question. Read more
Business Mileage needs to be recorded at the end of each day and needs to start after the first appointment. Detailed logs are necessary in case of an IRS audit. Mileage is reimbursed at $0.55 per mile so a small error can equal large penalties. Many business owners log over 20,000 business miles a year and this tends to be one of the top 5 deductions for small businesses. Read more
Account reconciliation involves looking at an account statement and determining whether the balance shown in your records matches the balance shown by the bank’s records. For some, this leads to a headache, especially if accurate records have not been kept. However, this accounting activity is essential for knowing:
Whether the bank has made an error in computation Whether transactions were not completed Whether a client’s or customer’s payment was not received Whether a check you received bounced Your correct current financial situation Whether payments you made cleared or not
What Accounts Need Attention?
When running a business, reconciliation is not as simple as simply ensuring your business’s checking account is accurate. Read more