As a small business owner, we know you’re a master of multitasking – juggling a long list of activities and trying to prioritize your time. It’s no surprise that your top drawer is stuffed with receipts waiting to be captured. You keep telling yourself that you’ll get your books up to date next week. But what if we told you there’s an easier way to manage your bookkeeping? A way that saves you time, and in the long-run, money too.
Enter the virtual bookkeeper. This professional can take the burden of bookkeeping off your shoulders, allowing you to focus on running your business. And the best part? You can work with the very best virtual bookkeepers from anywhere in the US!
Signs Of Messy Bookkeeping
Before we dive into how a virtual bookkeeper can help, let’s take a look at some signs that your bookkeeping is in a mess. Recognize any of these?
- Missing receipts or invoices
- No clear filing system
- Irregular bank statement reconciliations
- Personal expenses mixed with business expenses
- Difficulty tracking expenses or revenue
- Incomplete or inaccurate financial records
- Inability to produce financial reports in a timely manner
- Problem calculating tax payments
How Do You Clean Up Messy Bookkeeping
The quick way to clean up messy books is to hire a virtual bookkeeper who can step in and get you caught up. We’ve put together this bookkeeping cleanup checklist to give you some insight into the process we follow.
A virtual bookkeeper will help you:
- Separate your personal and business bank accounts: This is a crucial step in keeping your finances organized. By separating your personal and business expenses, you can ensure that your accounting is clear and you can easily identify business transactions.
- Find data entry errors and correct them: Mistakes happen, but it’s important to find and correct any errors in your financial records. This can include typos, incorrect entries, or missing information.
- Look for duplicates and remove them: Duplicates can throw off your financial records and make it difficult to track your expenses accurately.
- Reconcile bank statements: Catch any errors or discrepancies before they become bigger problems.
- Verify inventory: Make sure the inventory records you have on file actually match what’s in stock.
- Check your payroll: Ensure that your payroll records are accurate and all compliance obligations have been met.
- Update your financial statements: Get reliable financial statements including your profit and loss statement and balance sheet.
- Stay organized: Your virtual bookkeeper will ensure that you don’t fall behind again and that you have the financial data you need.
Risks Of Bad Bookkeeping Practices
Bad bookkeeping can have serious consequences for your business. It can lead to incorrect financial statements, which can result in tax problems or other legal issues. Additionally, it can make it difficult to track your financial performance and make informed business decisions.
If your bookkeeping is a mess, make sure you speak to an accountant who’s experienced at bookkeeping clean up services.
As a virtual bookkeeper in the US, we can help you get your books in order, no matter where you’re located. We use QuickBooks, a cloud accounting platform, that will help you organize and streamline your finances from today. Say goodbye to messy books.
Contact us today to book a free consultation.
