It is not uncommon for business owners in and around Slidell, LA, to immediately think of working with an accountant to assist with their finances. However, bookkeeping services are typically the best option and offer several advantages over accounting services.
What is Bookkeeping?
A bookkeeper is responsible for the day-to-day financial transaction recording for the businesses. They manage the payable and receivable, assist in optimizing cash flow, and provide customized reporting on the business’s finances in real time.
This is very different from an accountant. The accountant completes the analysis of the financial status of the business. For the operation of the company, the bookkeeper is the right professional to have the information needed for effective financial operation.
Businesses have often organically developed their accounts and financial recording system. This can lead to costly mistakes and oversights. A bookkeeper will assist in structuring these accounts and ensuring the general ledger and specific accounts are reconciled and all required financial reports are prepared as needed.
Preparation for Taxes
Bookkeeping in Slidell, LA, business owners will also find that bookkeeping services help to prepare the company for tax season. With bookkeepers ensuring all financial transactions are accurately recorded and reconciled with the accounts, the business owner is in great shape to take the information to the accountant for tax preparation.
The Bookkeeper play an important role in the big-picture financial issues of a business. However, for the ongoing financial recording and maintenance, a bookkeeper is the right professional for the job.