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Bank reconciliations are a great way to double check your books. It provides accuracy and completeness, allowing management to have a true picture of the business. What is a Bank Reconciliation? A bank reconciliation is where a business confirms account balances recorded on their books. The process involves tying your bank account balance on the …

The post Bank Reconciliation Among Different Accounting Methods appeared first on ALOEwerx.

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ALOEwerx by Austin Butler - 1y ago

Bookkeeping and accounting can be expensive, especially if you pay an accounting firm to do it for you. Likewise, it can cost a lot if it’s done in-house by people who aren’t too familiar with the subject and make mistakes. Bottom-line, poor bookkeeping & accounting can lead to not just operational errors (spending too much), …

The post Cost of Bookkeeping and Accounting appeared first on ALOEwerx.

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Bookkeeping is confusing for business owners who didn’t major in accounting. This glossary of terms will help out with some key bookkeeping, QuickBooks, & Tax terminology. This list will evolve over time, so feel free to ask questions below that we can respond to! Also, check out our separate accounting definition of terms. BOOKKEEPING TERMS …

The post Bookkeeping, QuickBooks®, & Tax: Glossary/Definition of Terms appeared first on ALOEwerx.

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Bookkeeping is essential for any small business or self-employed business throughout the year. There are many benefits of staying on top of your bookkeeping/accounting and not making it just a ‘tax season panic’ activity. Understanding Financials: You don’t have to be an accountant to understand your financials. As a business owner, you should know what …

The post Bookkeeping is necessary every month. Don’t just wait until tax season. appeared first on ALOEwerx.

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ALOEwerx by Austin Butler - 1y ago

Picture this: no more 9 to 5, no more commuting into the office everyday, no more traffic on your drive to work, no more depressing working conditions, and you are in charge of yourself. This sounds nice, but starting a freelance practice isn’t quite this easy. It can be a difficult road and without anyone …

The post How To Start Your Freelance Journey appeared first on ALOEwerx.

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Avoid sending your small business into a downward spiral by committing these bookkeeping deadly sins. Accounting procedures are crucial to the life and success of any small business, make sure these sins are avoided in your business. 1. Not Keeping Track Of Receipts. Receipts help you maintain records and aid bookkeeping. They can also be …

The post Seven Deadly Sins of Small Business Bookkeeping & Accounting appeared first on ALOEwerx.

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