I just ran across this article at BookkeepingNews.com.? They recommend these 10 monthly procedures:
- Reconcile bank statements
- Reconcile Accounts Receivable
- Reconcile Accounts Payable
- Inventory (if applicable) should agree with end of month supporting reports
- Reconcile loans on the Balance Sheet
- Reconcile payroll tax payable with payroll records
- Reconcile sales tax payable (if applicable)
- Record depreciation and amortization
- Expense prepaid accounts
- Make Adjusting Journal Entries.
Whew, that?s quite a list!? And I agree that all of these steps need to be taken to keep up with the financial picture for your company.? But it really made me think,? are self-employed people really going to have time for all that?
That?s why Spark Business Consulting offers their services to the small business owner who has many other things to do with their day besides recording depreciation and amortization!? So many of my clients have told me what a relief it is to have us taking care of the monthly financial reporting,? entering of payables and receivables,? and the many other details involved in running the financial aspects of a company.
Who do you know who owns a small business???Ask them how they keep their books.? If they roll their eyes,? that might be a great referral for us.? We grow our business by referrals,? and they?are greatly appreciated.
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