Closing your books every month remains a vital part of running a successful business. Doing so will provide visibility into your business’s financial information, explaining in detail what areas need to be improved upon, and is a great practice to stay accountable. This ultimately benefits your decisions about future business ventures, prevents expensive mistakes, and simplifies the tax filing process.
Here at SPB, our onboarding process for Bookkeeping Clients begins with check-in’s at 30, 60, & 90 days. While we will never know your business as well as you do, we strive to be a close second. Following the initial 90-day onboarding, semi-annual reviews are conducted, and our Bookkeeping Team is always available for unlimited support. In addition to these review sessions, you will receive monthly Profit and Loss statements, Balance Sheets, and our advanced ‘Variance Reports’ which detect any month-to-month anomalies. Additionally, once a year, our clients received an in-depth industry report for their industry.
Unfortunately, there are many common bookkeeping mistakes that can happen in a small business. On the bright side, they can often be avoided or mitigated. Read on as we walk through some bookkeeping best practices and red flags.
Improper recording of transactions can have a ripple effect, causing problems all the way down the line. An example is when you miscategorized something on your books, you may not be able to get them to balance. This also trickles down to income tax time because your records won’t accurately reflect items that may be deductible.
Accurate bookkeeping is essential to your company’s long-term viability. We serve a variety of industries and clients, from self-employed home-based business owners, to small and medium-sized businesses. When you outsource your bookkeeping services to SPB, you receive one-on-one personalized service combined with State-of-the-Art Technology!
Calculate how much you could save by outsourcing your bookkeeping
