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Bookkeeping

Stay ahead of your business bookkeeping needs with our bookkeeping plans.

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"I'm happy you guys are aware of start up requirements. You are able to take care of essentials that I did not how to do."

Monica L.
SWEET TOOTH LLC.

"Prompt, efficient, easy - especially for those with either too little time or too little experience. It is an essential tool in the business toolbox. Everything that helps make a business move with little or no friction is ideal

dANNY y.
PICTURE PERFECT LLC.

"Jumpstart has created the optimal experience for a new business owner such as myself. Online LLC setup and annual report filing was very simple to do! Thanks again."

khelton c.
gamers pub llc.

Bookkeeping Basics

What is Bookkeeping?

Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business. Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation.

Here's what you need to know:

  • Understand business accounts.
  • Set up your business accounts.
  • Decide on a bookkeeping method.
  • Record every financial transaction.
  • Balance the books.
  • Prepare financial reports.
  • Stick to a schedule.
  • Store records securely.

In general, a bookkeeper records transactions, sends invoices, makes payments, manages accounts, and prepares financial statements. Bookkeeping and accounting are similar, but bookkeeping lays the basis for the accounting process—accounting focuses more on analyzing the data that bookkeeping merely collects.

Importance of Bookkeeping

Bookkeeping Helps You Budget

Bookkeeping is important because it helps you budget. When income and expenses are properly organized, it makes it easier to review financial resources and expenses. With a budget, you can plan for future expenses and the anticipated resources that would cover those expenses.

Creating Accountability and Transparency

Accountability and transparency are another benefit of bookkeeping. Bookkeeping allows you to search up transactions to confirm prices or payments previously made which creates accountability.

Accurate Data

Bookkeeping also allows business owners to make informed decisions about their business as it provides “hard data”. This hard data is all about information about the progress or financial position of the business that is accurate and clear.

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