Saturday, June 21, 2014

Discover Bookkeeping Tips Offered By Los Angeles Accounting Firm

By Mary Badder


Bookkeeping can be a scary task to small business owners. It is important to keep good records of invoices, expenses, and income. In the event your business is audited, having your books organized and complete will be helpful. A Los Angeles accountant can offer several tips to help you avoid problems.

The first important tip is to make sure you have a solid paper, or audit, trail. This is a complete record in numerical order, of all the invoices, expenses, and checks for your business. A good bookkeeping software program can help you stay organized by providing a stress free system.

Use the calendar on your computer to send reminders about important dates. You can set reminders regarding payroll deadlines, bills you need to pay, and any taxes that are coming due. Paying bills and taxes on time will save your business money in the long run.

Today, it is very common for folks to pay their bills online. It is not just environmentally friendly, it is convenient to schedule E bills to be paid automatically online. Keep in mind, however, that if audited, you will have no paper trail. Digital information is not acceptable for an audit, so it is best to have the bank send statements and to keep copies of your bills and invoices.

Make sure you are keeping complete records. A good record system will be the foundation for a successful business. Any financial decision that a company needs to make will be based on their books. Without proper bookkeeping you will not be able to make reliable decisions for the company.

It is important that your business correctly sets up and installs software from the beginning. Correctly installing and setting up software will ensure financial reports that your company can depend on. These tips will make certain that your books are organized and streamlined.




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