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BENCH BOOKKEEPING UPDATE
BENCH BOOKKEEPING PROFESSIONAL

Your personal accountant will deliver your business financial statements monthly and at tax time, all the documents you need to process your taxes.

So, if they have questions about entries, transactions, or any other part of the process, they will be in touch with you right away. Remember, it’s their job to know your business.

BENCH BOOKKEEPING UPDATE

Your personal bookkeeper will update your records monthly and create financial statements for you. If you opted to work with Bench, they would assign you a bookkeeper who works to get to know your business, gather needed materials from you, and show you more specifically what to expect from Bench. It might help you to understand how Bench would work with your business to decide if this is the right move for you. What Can Do for You?Īre you considering whether to hire a bookkeeping service for your small business? Wondering how the bookkeeping service would aid your business? You can also get at-a-glance visual reports on different aspects of your bookkeeping, so you always have a clear view of your business’s financial picture. You provide the necessary information to Bench, and they input the information so you can get a monthly financial statement. When you hire Bench, they take care of your bookkeeping needs and provide a wealth of small business support so that you can focus on your business.Īs a client of Bench, you get a personal dedicated financial expert who handles your bookkeeping needs and connects you to a team of in-house small business experts. What is a bookkeeping service, and what do they do for you as a small business? What Is ?īench is an outsourced bookkeeping service for small businesses. The accounting part requires the accountant to consider what they’re seeing in the records and help guide a business’s financial decision-making. In bookkeeping, the task is more rudimentary record keeping.

Once the bookkeeping records are in place, the accountant must evaluate those for a business. While many accountants will also do bookkeeping for the business or client, an accountant’s job goes further.

Organizing the transactions according to the business accounts.

Classifying transactions as debits or credits.

Recording transactions in the accounting ledgers.

Collecting documentation for financial transactions.

A bookkeeper’s tasks are related to record-keeping. Think of bookkeeping as a preliminary function of keeping business transactions. It’s not uncommon for bookkeeping and accounting to be used synonymously, though they are not the same. How Is Bookkeeping Different from Accounting?

Expenses like rent, the electric bill, accounting servicesĪ business will need to know its equity value, which can be calculated by subtracting its liabilities from the assets.

Liabilities or debts, loans, or account payable balances.

Assets or things of value like cash, inventory, or accounts receivables.

There are some basic but important bookkeeping terms to know. It’s essential for a business when doing their bookkeeping to reconcile their accounts with bank statements and move the information to their financial statements. Some businesses will opt to record the information on the account charts once a month. The size of your business and the number of accounts and transactions will often impact how you record your bookkeeping.īookkeepers could record the businesses’ financial transactions daily or as they come in. Some businesses opt to outsource their bookkeeping duties to someone else. Some companies will do this manually on paper charts, and others will use a computer program. What do you do when you’re keeping the books?īookkeeping is how a business records all of the financial transactions related to the business.

Bookkeeping Basics for Youīefore digging into for bookkeeping, it makes sense to review some basic bookkeeping concepts. What are some of the pros and cons of outsourcing bookkeeping services? Read on for this bookkeeping service guide about and how they might work for you as a bookkeeping service. You can focus on your customers or products while your new bookkeeper handles capturing your financial data.

BENCH BOOKKEEPING PROFESSIONAL

With the help of professional accountants and bookkeepers, you can free up time for other priorities. If you are currently a one-person show where you handle all accounting duties, you might quickly find you need help. As the leader of a company, you are responsible for its income, balance sheets, and tax payments. Small- to mid-sized business owners have a lot of responsibilities on their plate. Home » Start-up Blog » Bookkeeping Services: A Review of