Frequently Asked Questions

Are Bookkeeping and Accounting the same?

Not quite, but they do go hand in hand. Bookkeeping is responsible for the recording of financial transactions, whereas accounting is responsible for interpreting, classifying, analyzing, reporting, and summarizing financial data. Bookkeeping is very reactive, where you are recording transactions that have already happened. Accounting is more proactive, anticipating future financial needs and planning on how to meet them.

Why is bookkeeping important for a small business?

Bookkeeping has a few important benefits to a small business. First and foremost, keeping your books up to date is essential in the event your business gets audited. It also allows you to analyze and plan based on your collected data, helps minimize accounting costs, and saves you time during tax season since you’ve done the work to keep your finances updated throughout the year.

Actually just the opposite! Instead of spending your time managing and entering information into your books you’ll be able to spend more time analyzing the books and managing the operations and sales functions of your business. Having an outsourced bookkeeping service is like having a trusted adviser monitoring your books to make sure things run appropriately, while you focus on what you do best – running your business.

Shouldn’t my bookkeeper be local?

Small businesses no longer need to work with a local bookkeeper. The internet  makes it easy for bookkeepers to securely access their clients books anytime, anywhere. Business owners can now select a bookkeeper who truly understands their industry and operations, instead of hiring the local, community bookkeeper by default.

Actually just the opposite! Instead of spending your time managing and entering information into your books you’ll be able to spend more time analyzing the books and managing the operations and sales functions of your business. Having an outsourced bookkeeping service is like having a trusted adviser monitoring your books to make sure things run appropriately, while you focus on what you do best – running your business.

Shouldn’t my bookkeeper be local?

Small businesses no longer need to work with a local bookkeeper. The internet  makes it easy for bookkeepers to securely access their clients books anytime, anywhere. Business owners can now select a bookkeeper who truly understands their industry and operations, instead of hiring the local, community bookkeeper by default.