Good bookkeeping starts with the daily, basic tasks. Accurate and specific categorization of your business's daily transactions sets the foundation for accurate and useful financial statements down the road.
When it comes to keeping things clean and ensuring the correction of any unrecognized mistakes, reconciling accounts on a monthly basis is crucial in keeping up with the continual inflows and outflows of a business.
When you're bookkeeping on an accrual basis, it's extremely important to keep track of all those accounts receivable and accounts payable that are constantly coming and going within a business. Keeping track of invoices, bills, reminding customers on due dates, allows business owners to have the clearest picture of how their business is performing.
The crux of what bookkeeping is all about, producing accurate and timely financial statements. Ensuring that business owners can rely on what their balance sheets and profit and loss statements tell them due to the accuracy of their books is our most important goal.
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