Bookkeeping Basics

There are basic practices, policies and procedures that one can implement in order to have a smooth relationship between you, your bookkeeper and your CPA. Thus creating a prosperous and smooth running business environment with growth potential. Here are a few tips and suggestions:

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Keep Orderly Records

 

Any bookkeeper or accountant will stress emphatically, that proper record keeping and document filing is paramount to avoiding the headaches of on an audit by any regulatory agency, in particular the IRS! But even more important, keeping good records is the best way to insure that your business financial statements accurately reflect the state of your business and whether or not you’re on the right track for success.

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Setup Modern Bookkeeping System

 

The best way to insure that you keep orderly records, is to begin by setting up a modern computer based bookkeeping system such as QuickBooks or other like system. Using such modern bookkeeping and accounting tools along with regular back ups of your files will insure your business finances are handled and tracked in an efficient and diligent manner.

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Make Technology Work For You

 

Many business owners fall for the cheap and the quick, when it comes to purchasing and installing office equipment, equipment that the business comes to depend on heavily. The old saying about “you get what you pay for” holds true all the more when it comes to reliable long term use office equipment. It does no good to save a few hundred or few thousand and then lose ten times as much in revenue due to a failed computer, printer, or worse a critical peripheral device storing valuable data. Do your research, invest in the best and forgo future headaches and losses!

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Seek Competent Business Solutions

 

One of the best things any business owner can do to keep his or her business on an even keel, is to diligently keep up on market trends and regulatory issues that may affect their bottom line. Sometimes though, the issues can be so complicated the business owner is left scratching their head trying to figure out these onerous issues. That’s where professionals like us at YH Bookeeping can help. We will walk you through the nightmare of regulatory and statutory rules and requirements and work diligently to insure that your bookkeeping and accounting system is flawless in its operations and in compliance with all controlling regulatory agencies.