Small Business Bookkeeping
What does small business bookkeeping mean?
Small business bookkeeping is the systematic process of recording, organizing, and tracking a company’s financial transactions. It is a crucial aspect of managing a small business’s finances, as it helps owners and managers closely monitor their financial health, make informed decisions, and ensure tax compliance.
Can Core CPAs & Advisors do it for me?
At Core CPAs & Advisors, we know perfectly well that small businesses are the backbone of our country’s economy. We also understand the unique financial challenges they face daily. That’s why we take pride in offering excellent small-business accounting services that set us apart as experts in the field.
We listen to our clients’ needs, and that’s why we believe there is a unique solution for each one of them. Every small business is unique, and so are your financial needs. Our approach to accounting is fully tailored to your business objectives. Whether you need help with transaction recording, financial analysis, or tax compliance, our #TeamOfTaxExperts has everything you need.
At Core CPAs & Advisors we are a team of the risk-averse people you need to guide you through the financial journey of having a small business. We are the industry leaders that excel in our category.
We know you are a careful planner, that’s why we are open in communication and transparency with our clients. You will always have a clear view of your financial health, allowing you to make informed decisions with confidence.
What are the key components of a small business bookkeeping process?
We focus on connecting with our clients through the results of the strategies developed by our #TeamOfTaxExperts. This process is carefully planned in a way that represents Core CPAs & Advisors as an industry leader. The following components provide us an overall view of a company’s financial health:
- Chart of Accounts: This lists all the accounts in the company’s general ledger. Accounts are classified according to a coding system that makes easier their identification.
- General Ledger: Maintain the general ledger, which is a central repository of all financial transactions and accounts.
- Cash Flow Statement: It helps business owners understand how cash is generated and used and assesses a company’s liquidity and ability to meet its financial obligations.
- Income Statement: It provides a snapshot of the company’s operating performance and its ability to generate profits.
- Balance Sheet: Also known as a statement of financial position, provides a snapshot of the company’s financial position at a given point in time.
Our experts focus on these five financial statements so that your business can continue to generate revenue and even grow. All this is done through decision-making that our team is prepared to guide you through.
We invite you to our blog where we have entries that talk more specifically about issues about the world of accounting that you need to know to navigate smoothly through this type of practice. Also in our social networks, you can find relevant information such as important dates to remember and tips that can help you in your daily accounting processes.