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Small Business Bookkeeping Services | How Solvency Now Can Help Yours!
Website: https://solvencynow.com/
Connect with Maya on LinkedIn – https://www.linkedin.com/in/maya-weinreb/

Bookkeeping is how businesses, entrepreneurs, and decision-makers monitor the overall financial health and activity of a company. Without basic bookkeeping practices, it’s easy for financial transactions and spending activities to get out of control, which can lead to confusion, disorganization, and loss of profit.

Despite the importance of accurate bookkeeping practices, most people don’t feel entirely confident with maintaining detailed business finances. Whether it’s a lack of interest or knowledge, many businesses outsource this process to a professional bookkeeper.

What is Bookkeeping?
Bookkeeping is the regular practice of updating a company’s financial records to reflect all transactions, credits, and debits. Professional bookkeepers are responsible for preparing and tracking all financial documents (including invoices) that flow in and out of a business during the course of normal operations.

Bookkeeping is different from accounting in that it is the critical first step in tracking all business activities. While bookkeeping provides oversight into each individual transaction (in order to catch discrepancies and correct mistakes), accounting provides a thorough analysis of these numbers.

Accountants rely on bookkeeping records to analyze and advise on the financial activity, health, and growth potential of a business.

Why Do Small Businesses Need Bookkeeping?
Maintaining bookkeeping tasks is essential for the stability and success of small businesses. With so many moving pieces (including credits, debits, assets, and liabilities), small business owners must understand where the money is going.

Bookkeeping can help businesses:

* Create organized and detailed financial records
* Be more prepared at tax time
* Understand businesses transactions at a granular level
* Correct discrepancies on bank statements as they happen (rather than after the fact)
* Make a plan for profitability that leads to long-term success

Our Mission Statement? – Complete and perfect financial records which results in your peace of mind.