Do you feel like you’re underwater and you don’t know what’s going on with the finances in your business? Your books may not be up-to-date or maybe your financial reports don’t make sense. The terms clean-up and catch-up sound similar but they are actually two different functions in the bookkeeping process.
Clean-up:
Have you ever produced financial reports for your CPA at tax time and they can’t make sense of what the numbers are on the Balance Sheet and Profit and Loss report? Many business owners want to do the bookkeeping themselves or they have an assistant try their hand at it but neither might not really know or understand what they are putting in the books which causes incorrect numbers on the financial reports. Producing incorrect numbers can have major consequences such as giving the IRS incorrect amounts or making business decisions based on false information. While it may seem like a good idea to save yourself the money to do the bookkeeping yourself or have the office admin do it, it is not worth the consequences for producing incorrect numbers. We here are Clarity Bookkeeping are trained, certified professionals who understand the importance of getting it right and producing accurate information. Considering that the IRS recognizes paying for a bookkeeper as a business expense, you will be saving yourself money in the end by hiring a professional.
Catch-up:
Did you know that it’s the law that a business must maintain accounting records? The IRS requires a business to maintain records of gross receipts, purchases, expenses, assets, travel, transportation, entertainment, gift expenses, and employment taxes (if applicable). We all know that things happen in business and sometimes we let things fall behind or maybe you’re just starting out and were more concerned with other tasks in your business so you haven’t started keeping an account of your finances yet. Clarity Bookkeeping can help you catch-up on your bookkeeping whether you’re a month behind or a couple of years behind, we have you covered.
Contact Us today so we can discuss further all the ways we can help you and your business.
