Virtual Bookkeeping Services

Getting your books together and producing financial statements is the only way to gauge the financial health of your small business. If you want to outsource your small-business bookkeeping, there are several ways to find experienced bookkeepers. However, it’s important to note that your bookkeeper won’t be the only person working on your business finances. So you’ll want to understand which tasks your bookkeeper is and isn’t responsible for handling.

The $20 figure we mentioned is if you areemployinga https://www.bookstime.com/, meaning they receive a W2 tax form. However, for a qualified, independent bookkeeper, whether they work remotely or in person, you should expect to pay anywhere from $25 to $40 for their services. Outsourcing your bookkeeping is more affordable than you would think. We save you money the moment you hire us by cutting out the expensive cost of hiring an in-house CFO. Are well-established and trained to handle tasks professionally and discreetly. If you are such a business that requires a helping hand but skeptical of competitors, allow CapActix to adhere to your bookkeeping needs.

What Services Do They Offer?

For a bookkeeping business, you may also want to include information regarding your niche and any certifications that you have as well. Professional associations also offer certifications so that you can hone your skills and market yourself as a professional bookkeeper.

Taking some time to investigate their customer service habits and client relations will ensure you choose the small business bookkeeper most likely to help you meet your financial goals. Some bookkeepers are much better with numbers than they are with people, but the right bookkeeping service for your business must be adept at dealing with both.

Separate your business and personal expenses

We’ll cover everything from the legal side of registering a new How to Meet Your Bookkeeping Needs to pricing, marketing and more. Journals are the place bookkeepers store their records of daily transactions. For every active account you use, such as cash, accounts payable and accounts receivable, you’ll have separate journals for each one.

A general ledger account is an account you use to store, sort and summarise all of your transactions. These accounts are arranged in the general ledger which also features the balance sheet and the income statement. Equity is all of the money you invest in the company as the owner plus all the accumulated profits. As a small business owner, your equity is shown in a capital account. A balance sheet is a detailed report which breaks down the financial situation of your business. In this report, you’ll find aspects such as assets, liabilities and the capital of your business.