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Top 6 Reasons Every Business Needs an Accountant
Accountants Help You Avoid An Audit
Top 6 Reasons Every Business Needs an Accountant
Basic Accounting
Basic Accounting starts from 20 to $20,000.00 in Income and covers all aspects of accounting
- the action of inflating something or the condition of being inflated. "the inflation of a balloon"
- Accountants Save You Time
Your business has problems that will be unique. Every business, will have problem. Problem will happen from time to time. Cash flow and payroll will be some of them. These can take up a lot of your time. You don’t have to worry about Bookkeeping. We will handle it from experience. We will plow through the paperwork to save you time and frustration.
Middle Range Accounting
Middle Accounting from $20,000. $150,000.00 in Income and cover all aspects of accounting
- the action or process of deflating or being deflated. "deflation of the illusion that the 1960 s
2. Accountants Save You Money
Your accountant can save you money. You can now focus on the job or the designing and let your accountant handle the intricacies of selecting software programs that sync with your accounting software. Making the wrong choice or having you switch later are costly errors both in terms of downtown and monetary cost. You can avoid this. The accountant can think of functionality you might need down the road that may not even be on your radar screen now. From experience and testing, your accountant will know which software works best and which will play nicely together.
Large Accounting
DBA Tax Preparation
Large Accounting starts from $150,000.00 and up Worde in Income and covers all aspects of accounting 103 $650.00 per month
1. a general increase in prices and fall in the purchasing value of money." policies aimed at controlling inflation"
3. Accountants Give Great Business Advice
Your business will need an accountant at tax time, but by then, it is too late for many of the value-added services an accountant could have provided for you. If you wait to engage an accountant until year-end, you likely missed out on advice that could have reduced your tax liability. Secondly, you missed out on having your accounting software set up professionally. Therefore there might be extra costly bookkeeping work required to fix errors and obtain the needed year-end reports before taxes can be prepared.
DBA Tax Preparation
Corporation Tax Preparation
DBA Tax Preparation
1040 No schedule $200.00
4. Accountants do more than just taxes
Accountants do more than just taxes.
The most significant loss for a business that doesn’t have an accountant is the loss of meaningly explained financial reporting available every month. When you bring your books to an accountant at year-end, the financial statements are not don right and may need to reviewed and cleaned up. By this point, the data is historical, and you’ve missed out. So you having the use of this reporting throughout the year. Yes, you will have saved some money on professional fees, but the information you lost is of higher value.
Reviewing accurate financial information every month is vital, especially for new businesses. The first year of business operation is crucial. This ero can have a impact on how long you stay in business. Accountants see companies rise and fall and can share their experiences with you so your business can not just scrape by but flourish.
Accountants are not just tax pros. Accountants are business partners that can help you monitor cash flow and objectively weigh the pros and cons of growth decisions.
LLC Tax Preparation
Corporation Tax Preparation
Corporation Tax Preparation
1065 for Partnership and LLC $600.00
5. Accountants Help You Avoid An Audit
Of course, an accountant is an excellent person to call if you receive notification of an IRS audit. However, it would have been better to have the help of an accountant to avoid being selected for an audit in the first place. Accountants know what the common triggers of an audit are and can help prepare a good tax return that won’t flag the system. Accountants also can help with decision making throughout the year and advise of tax consequences and rules so decisions can be made in light of the tax law and not despite it.
And if an audit happens anyways, having properly prepared historical and current financial statements with the needed documentation to back up your transactions will save a lot of time, hassle, and denied deductions.
Corporation Tax Preparation
Corporation Tax Preparation
Corporation Tax Preparation
1120 for Corporation $800.00
6. Accountants Help You Make Money
This is the most important reason he or she should be the money maker THE ACCOUNTANT
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Grab interest and make a profit
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bookkeeper and bookkeeping
Bookkeeper and Bookkeeping
Bookkeeper and Bookkeeping
Bookkeeper and Bookkeeping
What are the duties of a bookkeeper?
Basic Function: The bookkeeper position creates financial transactions and generates reports from that information. The creation of financial transactions includes posting information to accounting journals or accounting software from such source documents as invoices to customers, cash receipts, and supplier invoices. May 14, 2017
A Bookkeeper is someone who works for a company (either as an employee or a contractor) to keep the financial books. Most bookkeepers these days use accounting software like QuickBooks for this task. A bookkeeper is responsible for accurately recording transactions, including accounts receivable, accounts payable, inventory, and (sometimes) payroll, and providing reports on a monthly, quarterly, and annual basis.
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business.[1] Transactions include purchases, sales, receipts, and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process.
Bookkeeping is the work of a bookkeeper (or book-keeper), who records the day-to-day financial transactions of a business. They usually write the daybooks (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc.—and the general ledger. Thereafter, an accountant can create financial reports from the information recorded by the bookkeeper.
Bookkeeping refers mainly to the record-keeping aspects of financial accounting, and involves preparing source documents for all transactions, operations, and other events of a business.The bookkeeper brings the books to the trial balance stage: an accountant may prepare the income statement and balance sheet using the trial balance and ledgers prepared by the bookkeeper. The primary bookkeeping record in single-entry bookkeeping is the cash book, which is similar to a checking account register (in UK: cheque account, current account), except all entries are allocated among several categories of income and expense accounts. Separate account records are maintained for petty cash, accounts payable and receivable, and other relevant transactions such as inventory and travel expenses. To save time and avoid the errors of manual calculations, single-entry bookkeeping can be done today with do-it-yourself bookkeeping software.
A double-entry bookkeeping system is a set of rules for recording financial information in a financial accounting system in which every transaction or event changes at least two different nominal ledger accounts.
Hello. Welcome to this bookkeeping course. I'm so excited that you are here and watching this series. I am the Bookkeeper. I love bookkeeping. I love Accounting in this bookkeeping series you're going to learn the basics of Double Entry bookkeeping
this is what to expect from the series you can expect several presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software to the reason being I'm much more of a
Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any
stop
other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
bookkeeping this is the first video of a number of videos what I suggest you do is if you head over to my website free bookkeeping accounting.com you'll be able to find this course and see all the videos I suggest that because YouTube doesn't always recommend the next video to watch but what I will do is I'll put a link to the next video in the description below if you don't want to head over to my website there should be a link below okay so this is the introduction what to expect from the series you can expect a number of presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software too the reason being I'm much more of a Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant meaning when I started my new kombucha business I thought they would be a lot more
to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
Bookkeeper/Payroll
Bookkeeper and Bookkeeping
Bookkeeper and Bookkeeping
What are the duties of a bookkeeper/payroll?
The job of Bookkeeper/Payroll was established for the purpose/s of ensuring the accuracy of preliminary and final financial/payroll reports, time sheets, spreadsheets, and funds distribution and financial transactions; responding to inquiries and/or requests for data and/or job relevant reports; providing timely and accurate payroll production.
Bookkeeping in a business firm is the basis of the firm's accounting system. Bookkeepers are responsible for recording and classifying the accounting transactions of the business firm and techniques involving recording those transactions.
If you are a small business owner, you either have to set up your own accounting system or you have to hire someone to set it up for you. If you are self-employed and it is a one-person business, you will do it yourself. If you are hiring staff and anticipate a lot of growth, you may hire a controller to handle your financial management and accounting. If your business is going to grow but you anticipate slow growth, you may simply hire an accountant or bookkeeper to handle the accounting system.
A company's payroll is the list of employees of that company that are entitled to receive pay and the amounts that each should receive.[1] Along with the amounts that each employee should receive for time worked or tasks performed, payroll can also refer to a company's records of payments that were previously made to employees, including salaries and wages, bonuses, and withheld taxes[2], or the company's department that calculates and pays out these amounts. One way that payroll can be handled is in-house. This means that a company handles all aspects of the payroll process on its own, including timesheets, calculating wages, producing pay checks, sending the ACH, or Automated Clearing House, for any direct deposits, and remitting any tax payments necessary[citation needed]. Payroll can also be outsourced to a full-service payroll processing company. When a company chooses to outsource their payroll, timesheets, wage calculations, creating pay checks, direct deposits, and tax payments can be handled all, or in part, by the payroll company[citation needed].
Payroll plays a major role in the internal operations of a business for several reasons. From the perspective of accounting, payroll and payroll taxes are subject to laws and regulations. Payroll in the U.S. is subject to federal, state, and local regulations including employee exemptions, record keeping, and tax requirements.[3] Payroll also plays a large role from the human resources point of view. Payroll errors, such as late or incorrect paychecks, are a sensitive topic that can cause tension between employees and their employer. One requirement to maintaining high employee morale is that payroll must be paid accurately and in a timely manner because employees are very sensitive to any payroll errors.[4]
Hello, Welcome to this bookkeeping course. I'm so excited that you are here and watching this series. I am the Bookkeeper. I love bookkeeping. I love Accounting in this bookkeeping series you're going to learn the basics of Double Entry bookkeeping
this is what to expect from the series you can expect several presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software to the reason being I'm much more of a
Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any
stop
other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
bookkeeping this is the first video of a number of videos what I suggest you do is if you head over to my website free bookkeeping accounting.com you'll be able to find this course and see all the videos I suggest that because YouTube doesn't always recommend the next video to watch but what I will do is I'll put a link to the next video in the description below if you don't want to head over to my website there should be a link below okay so this is the introduction what to expect from the series you can expect a number of presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software too the reason being I'm much more of a Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant meaning when I started my new kombucha business I thought they would be a lot more
to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
Bookkeeper/Inventory
Bookkeeper and Bookkeeping
Small Bookkeeping
What are the duties of a bookkeeper/Inventory?
An Inventory Bookkeeper is the person who handles tasks that are related to inventory in a warehouse setting for an organization. His role includes maintaining inventory levels, making monthly inventory reports, recording and labeling inventory items to be used in the future and maintaining accurate records.Feb 2, 2018
Inventory (American English) or stock (British English) is the goods and materials that a business holds for the ultimate goal of resale (or repair).[nb 1]
Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials.
The concept of inventory, stock or work-in-process has been extended from manufacturing systems to service businesses[1][2][3] and projects,[4][5] by generalizing the definition to be "all work within the process of production- all work that is or has occurred prior to the completion of production." In the context of a manufacturing production system, inventory refers to all work that has occurred – raw materials, partially finished products, finished products prior to sale and departure from the manufacturing system. In the context of services, inventory refers to all work done prior to sale, including partially process information.
The scope of inventory management concerns the balance between replenishment lead time, carrying costs of inventory, asset management, inventory forecasting, inventory valuation, inventory visibility, future inventory price forecasting, physical inventory, available physical space, quality management, replenishment, returns and defective goods, and demand forecasting. Balancing these competing requirements leads to optimal inventory levels, which is an ongoing process as the business needs shift and react to the wider environment.
Inventory management involves a retailer seeking to acquire and maintain a proper merchandise assortment while ordering, shipping, handling, and related costs are kept in check. It also involves systems and processes that identify inventory requirements, set targets, provide replenishment techniques, report actual and projected inventory status and handle all functions related to the tracking and management of material. This would include the monitoring of material moved into and out of stockroom locations and the reconciling of the inventory balances. It also may include ABC analysis, lot tracking, cycle counting support, etc. Management of the inventories, with the primary objective of determining/controlling stock levels within the physical distribution system, functions to balance the need for product availability against the need for minimizing stock holding and handling costs.
Hello, Welcome to this bookkeeping course. I'm so excited that you are here and watching this series. I am the Bookkeeper. I love bookkeeping. I love Accounting in this bookkeeping series you're going to learn the basics of Double Entry bookkeeping
this is what to expect from the series you can expect several presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software to the reason being I'm much more of a
Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any
stop
other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
bookkeeping this is the first video of a number of videos what I suggest you do is if you head over to my website free bookkeeping accounting.com you'll be able to find this course and see all the videos I suggest that because YouTube doesn't always recommend the next video to watch but what I will do is I'll put a link to the next video in the description below if you don't want to head over to my website there should be a link below okay so this is the introduction what to expect from the series you can expect a number of presentations a bit like this but also you can expect a different format at times where I'll be using Excel and maybe I'll be using other software too the reason being I'm much more of a Hands-On sort of guy if you've been watching my videos previously you'll know that I love Excel and love I'm very much into the Practical side of things more than presenting information the content to expect obviously this course is about bookkeeping so we're going to cover Double Entry bookkeeping but I'm also going to cover things like financial terms assets liabilities Capital these are terms that you need to know in the world of bookkeeping and accounting so I'll go through them with you such as a profit and loss statement and advanced sheet if any of these times don't make sense to you don't worry that's actually really good thing because you're in the right place to learn what those things mean please don't feel overwhelmed I understand that some of you are going to be brand new to all of this I was once branding to all of this I'll keep things as simple as possible and will really try to help you understand one of the good things about these videos is all pretty much the video okay so what is a bookkeeper well a bookkeeper keeps the books that bookkeeper keeps the books hence the time bookkeeper the books meaning the accounts the accounts are a set of recorded Financial transactions for an entity so if you think of a business a charity a company some sort of organization they're going to have money coming in to the organization there will be loans taken by the organization of monetary transactions in and out to the company through bank accounts number accounts on those things need recording and that's what a bookkeeper does so what is an accountant or just to make things very confusing for you and accountant can be many things so some people refer to a bookkeeper as an accountant meaning when I started my new kombucha business I thought they would be a lot more
to a bookkeeper as an accountant be an accountant the terms were interchangeable but generally speaking and accountant is someone that deals with the year-end accounts meaning they calculate tax they get tax advice so why do you need a bookkeeper why do we need to keep accounts what's the purpose of it all well there's probably 100 reasons why we need to keep accounts but I've just said five of the top main reasons why accounts are needed the first is it's illegal requirement if you don't keep Financial accounts you're breaking the law so if you're not interested in any other reason you still have to it is against the law to not keep Financial accounts you have to keep record of the financial transactions of your business so that's one it's requirement of the law number two is financial planning and financial forecasting if you have a set of accounts you can see the sales that a business has made you can see expenses so when you have this data available when you have sets of accounts you can compare weeks against weeks and you can see how an entity is performing and you can do the same with expenses but it can help greatly with financial planning and that's a very general term financial planning could include goals you have for entity and you want to reach x amount of sales this year it could be to do with forecasting cash if we look at previous figures we can forecast how much available cash we're going to have incoming weeks and years tax calculator has made a profit if a business or company has made a profit then it's likely they have to pay some sort of tax so without having accounts you don't know how much tax needs to be paid profitability four hours so keeping a set of accounts will help a business know what it owns and what it owes which is very important you know you need to know who owns you money for example and who you owe money to so there are five reasons why you need a bookkeeper or in other words why you need to keep Financial accounts obviously I could go on and talk about lots of other things but just keep things simple and basic? about 10 minutes each some will be shorter some will be slightly longer about 10 minutes each nice bite-sized chunks for you as mentioned
Small Bookkeeping
Small Bookkeeping
Small Bookkeeping
Income $2,500 to $25,000.00
You get a bookkeeper
Medium Bookkeeping
Small Bookkeeping
Large Bookkeeping
Income $25.000 to $125,000.00
You get a Bookkeeper
Large Bookkeeping
Small Bookkeeping
Large Bookkeeping
Income $125.000 to $1,125,000.00
You get a Bookkeeper
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