Salt Lake City Bookkeeping Blog

Have you ever wondered how a small business bookkeeper handles the bookkeeping for their own business?

Or maybe you're currently managing your own. Good on you!

I'm in control of our business bookkeeping. While I may not handle every aspect of it like creating invoices and posting payments I have the correct checks and balances in place to ensure the accounting is correct.

For those of you looking for that suggestion that saves your life, I'd consider outsourced bookkeeping services and saving yourself the headache.

Anyways, here are the key things I do with our own small business bookkeeping.

 

Owner In Control Updated Often Always Accurate Set Goals Key Metrics and Reporting The Importance of Checking a Client's History Collection Success When You're a Small Business Owner

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Topics: Financial Forecasting, Financial Reporting, Business Budgeting, Small Business Bookkeeping, Reconciling QuickBooks, Bookkeeping Theft

Authorized transactions take many forms when you run a small business. But whether they involve money coming in or going out, overseeing key business transactions is all about safeguarding your company against financial risk and inaccurate bookkeeping records.

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Topics: Bookkeeping Theft, Growth Coach

How can you be sure that an employee isn’t secretly stealing from you, that your company is tax-compliant, and that your financial records are reliable? Three words: internal accounting controls.

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Topics: Financial Reporting, Bookkeeping Theft

Identity thieves - and the fraud-based havoc they cause in the US – were responsible for losses exceeding $16 billion in 2016. In fact, according to a study by Javelin Strategy and Research, more than 15 million Americans fell victim to identity theft last year. And that’s a record high.

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Topics: Grow Your Business, Bookkeeping Theft, Growth Coach

Identity theft complaints nearly doubled between 2010 and 2015, according to the Federal Trade Commission. Meanwhile, fraud incidents including those associated with compromised credit cards reached an all-time high in 2016 – an event that led to a whopping $16 billion dollars in individual losses!

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Topics: Small Business Accounting, Bookkeeping Theft

Most business owners cringe when they hear the word “audit,” but the truth is that an audit isn’t necessarily a bad thing. Once you learn more about what an audit is and how it works, you will see that there are a few ways in which your company can benefit from the auditing process.

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Topics: Bookkeeping Theft

Accountability for cash flow is normally given to one person: your bookkeeper. In general, that gives them an opportunity to have a hand in different transactions that would make it easy to take cash from a business. However, there are some really simple steps that a small business owner can take to prevent such disaster. Not only that, but it can keep an owner or partner involved in a business on a regular basis, so that they always have a finger on the pulse of the business. This short infographic is a simple guide to how to balance a bookkeeper. If nothing else, it keeps a person away from temptation.

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Topics: Bookkeeping Tips, Small Business, Bookkeeping Theft

The number one reason we get new clients is because most small business owners are too busy to handle their bookkeeping. It is often true that a business owner is too busy to update their bookkeeping, but that doesn't mean it is important. I'm also quite a busy person but I find time for all the important aspects of my small business, even if I am not directly doing the work in a particular area. If you are too busy to handle your small business bookkeeping here are a few things you still need to know.

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Topics: Bookkeeping Services, Bookkeeping Help, Bookkeeping Theft, Outsourced Bookkeeping

Topics: Financial Reporting, Small Business Bookkeeping, Bookkeeping Theft, Investor Bookkeeping

Topics: Bookkeeping Tips, Bookkeeping Processes, Financial Forecasting, Financial Reporting, Small Business Bookkeeping, Bookkeeping Theft