What Proper Bookkeeping Looks Like Before Tax Season Starts
Proper bookkeeping before tax season means your books can be reviewed without having to rebuild them. All transactions must be entered and categorized consistently, accounts must reconcile across reports, and supporting information must exist where needed. The difference between current books and tax-ready books is that an accountant can understand what happened during the year […]
When Should a Business Stop Doing Its Own Bookkeeping?
Many small business owners handle their own bookkeeping using tools such as QuickBooks or Xero. For a while, that approach works. Transactions are entered, accounts are reconciled and reports look reasonable. The problem usually doesn’t show up until tax season. That’s when business owners learn that even though they kept up with their books, their […]