Columbia SC General Bookkeeping | Bookeepers Columbia SC
What is General Bookkeeping?
It entails recording financial transactions. Different transactions affect different accounts, and a bookkeeper has to log them all to the appropriate accounts. A bookkeeper makes sure that all the changes made to assets, liabilities, capital, income, and expenses accounts are all accounted for in a general ledger.
The said ledgers become the basis for other accounting records such as the trial balance, balance sheet, income statement, cash flow statement, including changes to equity. General bookkeeping paves the way for making analysis and monitoring possible. Without organizing financial data, there is no way for you to make sense of what's going on.
Who Needs General Bookkeeping Services?
1. Companies with Outdated Books
Is your office a paper mess, and your books are left to dust and never up to date? If you often find your books outdated and in disarray, you may need general bookkeeping services.
Once unrecorded transactions pile up, they can be too much to bear. By getting a bookkeeper, you don’t have to deal with tons of backlogs. Say goodbye to untracked receipts, unreconciled payments, and unassigned income and expenses.
2. Short-Staffed Businesses
Are you a small team of driven workers who already have your hands full with operations and marketing? You may need an extra hand who is keen on getting all your transactions running smoothly and making sure nothing is unaccounted for. Hiring a bookkeeper is what you need.
If your business is composed of a small team, you may need to outsource bookkeeping services. This way, your people can focus on operations management and revenue generation. Also, you can get a dedicated person who won’t miss a beat on the business pulse.
3. Startup Businesses
Bookkeeping can appear as a daunting task for starters. By hiring a bookkeeper, you can get all the professional help your transactions and records need. Especially if you have little to nothing bookkeeping skills, the experts can save you time and do it right.
Furthermore, hiring a skilled bookkeeper will cost you less compared to hiring a certified accountant. Such savings can mean a lot for startups.
What are the Deliverables from General Bookkeeping Services?
1. General Ledger
As an essential bookkeeping ledger, the general ledger is the central repository of all accounting data. It compiles data coming from all sub-ledgers, such as accounts payable, accounts receivable, cash, equipment, and inventory.
You can see that this ledger is a set of numbered accounts. All these coded accounts represent all the financial transactions of your business.
2. Trial Balance
A trial balance is a worksheet that sums up the balances from all the ledgers. By lining up all the debits and credits side by side, the bookkeeper will check the accuracy of recording transactions.
3. Financial Statements
Bookkeepers can create written reports called financial statements. Financial statements take all of the recorded transactions and organized accounts into a well-summarized report.
By reading such documents, you can assess the financial position, performance, cash flows, and equity changes in your business. Each statement is a snapshot of how your business is doing overall.
The modern business doesn’t work off the back of a cocktail napkin anymore. You’ve got digital contractors, monthly services, debt, invoices, purchases, sales, and constant cash changing hands. To understand it all you need to collate it all in a ledger that is easily understood and manageable. At Bookkeepers Columbia SC we thrive on the challenge of daily financial operations. If you want your books updated and managed we are your experts.
Whether you are looking to provide reports to potential investors or current board members or just looking for a little bedtime reading financial reports can take an extensive number of hours to produce. They can take even longer if the people producing them aren’t trained in the art of financial storytelling. Make your numbers mean something about your company and your future. Tell the story of your financial success with the help of expert bookkeepers.
How much have you spent on ink toner? Gas? Employees? Do you need to make cuts? Could you ask for a discount for bulk orders? Who wants to add up all of those receipts? Bookkeepers do. With their insight, they can keep track of your expenses and advise on how to better manage certain business actions. Empower your money by making informed decisions on what to buy and how to buy it.
Simply put, you shouldn’t have to keep focuses your attention on the daily tasks of running the back-office of your business. You should allow yourself the time and focus on thinking about the future of your business. Bookkeepers help you focus on tomorrow instead of today by managing the routine bills and invoice management so you don’t have to. When you are ready to start daydreaming again, we at Bookkeepers Columbia SC are here and at your service.
We can help you with your Bookkeeping, Expense Tracking, Tax Preparation, and More. Call 803-573-9922 today.