Bookkeeping involves the process of correctly recording and classifying the financial transactions in chronological order in account books or systematic records. It forms the numerical details and is the starting point of the basic accounting system. Accounting is the whole information system. It includes the bookkeeping details but also summarizes the details into useful reports to assist with decision making. It helps analyze and interpret the overall condition and performance of the basic operations.

A budget is a critical tool that helps measure performance against an approved plan. The main purpose of a budget is to help control expenses by looking into the future and tracking how the estimate of costs, revenues and resources is working over a specific time period. A surplus budget means profits are anticipated, while a balanced budget means revenues are expected to equal resources. We can help you create a budget that takes a look at the history of expenses but also gives you a tool moving into the future that can help you manage your expenses more effectively.

The key to communications within all areas of financial inflows and outflows is the use of accounting language. Whether you are aware of it or not, you deal with the basics every day as you engage in any activity that relates to transactions involving money coming in and money going out. Understanding the basic terms, principles and processes is a critical element to operating a successful endeavor whether it be a business or personal focus. We have a wealth of information available and look forward to sharing it with you to help you build your sustainable economic foundation.

Balancing accounts, balancing your records or reconciling accounts all mean the same thing – that your account balances are verified as correct on a regular basis. We suggest that this be done at least once a week or more often if you have a lot of transactions. You can make better financial decisions when your basic information is up to date and available when you need it. We are available to help with this critical task as often as you need us to do it.

There are a variety of software financial system options to choose from. We focus primarily on the Intuit products as they are the most widely used - QuickBooks Online and Desktop. We set up QuickBooks File and Chart of Accounts as well as train business owners and employees on how to use QuickBooks. This includes Accounts Receivable (from Customers), Accounts Payable (to Vendors), Banking (data input and reconciliation for checking, loans and credit cards), Financial Reports, Budgets and Cashflow and overall Financial Education.

We will reconcile your bank and credit card activity, resolve questions, identify transactions that need more details, schedule time-sensitive items (such as taxes, payments, etc.), review the receivables (AR) and note those that need further action, file documents, print and review reports, review the activity (monthly and YTD) via budget to actual numbers.