Accountancy: It's as Easy as 1, 2, 3!

Hello! my name is Harry and this is my accountancy blog. It is my mission to use this blog to educate others about the benefits of hiring an accountant. I hired an accountant last year and doing so has brought many positives to my life. I now find it much easier to run my business and to manage my tax returns at the end of each financial year. I hope that by reading the articles I have posted here, you will gain a good understanding of how an accountant can help you. Thank you for stopping by and checking out my blog.

Why That Bookkeeping Service Wants to Start by Reconciling Your Financial Records


A bookkeeping service can take a lot of work off your hands, allowing you to concentrate on your business. When you hire a bookkeeper, however, you may find that no matter how careful you were in setting up your books and making sure everything was recorded, that bookkeeper will still look over your financial records and reconcile the books first thing. They aren't doing this to insult you or squeeze extra money out of you; they're doing this because that's how they familiarize themselves with what you've been doing. And that reconciliation can go a long way toward making your days much calmer.

The Bookkeeper Needs to See What's Happening Now

You may understand your budget and your expenses, but the bookkeeper does not when they first receive your financial paperwork. They need to look at the numbers and make sure everything adds up; at the very least, this helps ensure that you didn't make a mistake somewhere along the line. And if they do find a problem, they'll look for its origin and see what went wrong. You'll get an up-to-date, correct ledger as a result, allowing you to see what your financial situation is truly like.

Having an Organized Financial Record Frees up Mental Space

Chances are that if you've been looking for a bookkeeping service, you are already dealing with a level of disorganization or a lack of time that is resulting in barely being able to keep the books current. Once you turn over that task to the bookkeeping service, you'll find a couple of things start happening. One is that your days will calm down a little as you no longer have to think about recording and reconciling expenses and income. The other is that you may feel like you have more clarity regarding your business because you now have this very clear and current account ledger. You can look at those numbers and know that you're seeing an accurate picture.

You Can Start With Basic Services and Expand Later

You don't have to turn over all of your financial tasks to the bookkeeper. You can start with basic account reconciliation and just have them work on that while you handle payroll and other financial transactions. As your business grows, you can turn more financial tasks over to the bookkeepers as you see fit. As you see how beneficial having a bookkeeping service can be, you may want to turn over all of your financial tasks to the service to ensure that all transactions are being recorded properly.

Contact a bookkeeper for more information. 


27 June 2022