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Bookkeeping Basics to Maintain

September 30, 2022

Bookkeeping is vital to the day-to-day of your business. There are a handful of reasons why some businesses fail, but almost one-third fail due to cash flow problems. This can be avoided by maintaining accurate, detailed, and up-to-date books. But, what exactly does that entail? What do bookkeepers do to maintain these records?

Maintain and monitor records.

Know where your business stands financially by maintaining and monitoring your books. A bookkeeper tracks all the ins and outs of your business and makes sure there is no missing or inaccurate information.  

Track debits & credits. 

Part of maintaining your books includes tracking and recording the money going in and out of your business. From there, rep

9 Bookkeeping Basics

October 3, 2021

Whether you complete your bookkeeping yourself or you have a bookkeeper, there are certain tasks that need to be done on a regular basis - consider these the basics of bookkeeping. This can act as your everyday bookkeeping checklist. 

Maintain accurate records. 

Stay on top of your financial transactions, record them, and triple-check for accuracy. Keep up with your books. Accuracy saves yourself from a mess later. 

Handle day-to-day management of accounts. 

Whatever needs to be done on the day-to-day, it’s up to you to complete efficiently and accurately (or your bookkeeper). Looking at your accounts all day will help you have a better grasp of the financial-aspect of your business. 

Back to the Bookkeeping Basics

SkynarBookkeeping / June 18, 2020

Businesses across the country are giving a whirl at reopening, or attempting to go back to “normal” by opening their locations for staff, clients, and customers. It’s no secret small and mid-size businesses have been hit hard by the COVID-19 pandemic, resulting in a country-wide shutdown for businesses. Owners were forced to adapt, and are still determining and learning the best practices to follow. As we as a whole try to find our bearings in getting our businesses either back up and running, or maintaining a healthy flow, it’s going to be important not to get lost in the complexities of running, tracking, and analyzing the financials of your business. We would like you to focus on the basics of bookkeeping as you get your business back to where it was, and beyond. 

Track your cash. There is no way to track the cash you spend unless you do it yourself. Make sure you keep receipts when cash is spent and log them that day or the next so your books are as accurate as possible.