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Bookkeeping Services
Virtually everyone knows that they should perform bookkeeping for their business. What they often do not understand is why:
Legal Requirements for Bookkeeping :
Bookkeeping is a legal requirement mandated at both the federal and state levels. All businesses are required to keep detailed records of all sales, purchases, inventories and other transactions. The IRS and various state agencies (including the Department of Revenue and Employment Security Department in Washington) will require that you have records to substantiate your tax returns.
To put the importance in perspective, did you know that a shoebox full of receipts usually represents $10,000 in tax savings?
Improved Planning and Management:
In addition, we cannot overemphasize the importance of good bookkeeping to proper management of a business. Without proper records, you may have trouble answering questions like thise:
- Which products or services are most profitable?
- Which customers are most profitable?
- How much cash will you need on hand next June?
- If you had to cut costs, where would you start?
Good records improve the quality of answers to these questions and others. Isn't it time to know where you stand?
We Offer Professional and Flexible Services
Full Potential offers flexible bookkeeping services from our location. It is our goal to work with our clients and their existing procedures. For example, many clients have us perform all of their bookkeeping; others have us help with certain aspects or review files on a regular basis.
As Certified Quickbooks ProAdvisors, we have the most experience in using Quickbooks software, but will gladly support clients with other types of software.
Recent Blog Posts
- Sep 03: Release Date for QuickBooks 2009
- Aug 11: When the Going Gets Tough
- Jul 20: Keeping Good Tax Records