How to handle small businesses’ bookkeeping?

If you don't have an idea about bookkeeping for small business, it is the moment to learn about this topic, and get to know all that concerns your business, in order to achieve the greatest results.

Even though it is not simple, there are several tips that could help to carry out your business accounting and keep the financial registers in order. To be able to do this, it is necessary to have the appropriate information.

Differences between bookkeeping and accounting

Many times the terms bookkeeping and accounting are confused and in reality they are both related. Because they are both directed to the same end but they have different activities.

Accounting is a fundamental part within the general bookkeeping activities. Bookkeeping is very simple. It is in charge of registering all the transactions. Additionally, it registers and organizes all the business financial information.

On the other hand, the accountant's job is to consult and analyze all financial information. The accountant is also in charge of designing new strategies and giving advice about fiscal topics.

Bookkeeping services for small businesses

• Bookkeepers 360:

It offers a great variety of services, including personalized advisory. You can access it with only a click.

• Quickbooks Live:

Keep the account books updated with the help of Quickbooks, before the time comes to pay tax. To avoid any problems, go to its official webpage.

• Bench and Scuare:

With the integration of Bench and Scuare online, accounts can be updated. Only enter its page and start a session.

Could I handle my small business bookkeeping?

Many people think that it is difficult to handle their small business bookkeeping, but actually, if there is a good organization, it is possible to carry out this activity.

What is most important is that the registers are updated. To perform your own accounting is ideal for the success of your small business. Currently it is easier, because there is an array of software to simplify the job.

How can I handle my own bookkeeping? Matt Oliver best secrets

All the details that a person should know about bookkeeping for small business hidden secrets medium Matt Oliver, could be found next.

Sometimes it is difficult to administer a company; however, with a good organization it could be easy.

It is necessary to consider certain basic concepts to be able to handle a good accounting. They are:

• Bookkeeping:

It is the base for recording all financial registers. This can be done on books or on computers through diverse accounting software.

• Balance Sheet:

Matt Oliver says that the general balance should be at the end of each month and it has to reflect the business’ conditions.

• Capital:

It is the money that makes up the business capital and the earnings.

• Expenses:

These are expressed in invoices to be paid for electricity, salaries, loans, general monthly expenses, etc.

• Income:

It concerns all the earnings obtained from sales and other business activities.

Before declaring tax for the first time, you should choose an accounting method. The following are the two methods:

• Cash accounting
• Accrual accounting.

The business must have a financial register and the following documents have to be checked constantly:

• Income.
• Bank accounts, checks and credit cards.
• Invoices.
• Bank or accountant finance
• All tax declarations made
• Credits and all the income documents.

According to Matt Oliver it is also important to make a control accounting list in order to have a good accounting. An optimum organization will save time and money.

How much could be spent on a small business bookkeeping?

The prices for small business bookkeeping services are about 1000 to 5000 dollar per year. This is according to the tariffs exposed by SCORE.

If there is a specific problem and help with the accounting is needed, then it could cost from 146 to 457 dollars.

What kind of accounting books are used for small businesses?

There are two kinds of accounting books used for bookkeeping services for small business. These could be:

• Based on cash:

This is a simple and practical method. It only registers money when it is in cash, on the contrary there is no register.

• Based on accrual:

It is a process carried out even if invoices are not paid. Even though it is the most appropriate method, the owner has the final choice.

Free bookkeeping software for small businesses

• Akaunting:

This bookkeeping software for small business could be downloaded here; it could offer a great number of benefits such as synchronizing accounts and issuing invoices.

It can also be used online for simple tasks, but for advanced actions it is necessary to download.

• Wave:

With this wonderful software, you could manage your small business incomes. And what's best is that it is totally free to access here you have its wave official webpage.

Another benefit of Wave is that it can scan and invoice your payments.

• Slick Pie:

It is a free bookkeeping software for small business through simple accounting tasks as quotations, and it could affiliate your accounts to Paypal for free.

The owner of the small business can obtain his/her payments online by means of the Paypal account. To download Slick Pie it is very simple, just click on its official webpage.

• Cloud Books:

Make invoices as a pro enjoying this online software, keep your expenses controlled and add users. Just click on its official webpage to get its benefits.

• Zip Books:

With this software, you can perform a series of accounting tasks for your small business in a fast and safe way, such as: invoicing, reports, managing expenses and synchronizing banks.

You can pay clients through Square and Paypal services, but you would have to pay the tariffs for such services. Go to its official webpage.

• GnuCash:

Enjoy this excellent financial software clicking on GnuCash official webpage to get its benefits, it is so easy to use and free.