In the simplest terms, bookkeeping is the process of recording all of your business's financial transactions.
EXPENSES: Signing up for a mastermind, attending a conference, canva templates, ink pens, management software, storage space, tax preparation, business license, etc.
REVENUE: Product/service income (with/without an invoice), discount given, interest earned, owner investment, angel investor, grants, loan proceeds, early payment adjustments
LIABILITIES: Credit card purchases (not just payment to credit card), principal payments, interest payments, loan amounts, processing fees, bank charges, late fees
keep business money and personal separate.
Auto Expenses & Mileage
Bank Fees (bank & credit card)
Business Licenses & Permits
Cost of Goods Sold
Education & Training
Gifts - Professional <$25
Legal & Professional Fees
your books are as good as what you put in them.
**Common deductions list is a sample of possible deductions, but is not a full and detailed list. Consult with your accountant for more details.
A Chart of Accounts provides categories that help you organize and label business transactions accurately.
A basic Chart of Accounts includes records of Revenue, Expenses, Liabilities, Equity, and Assets.
Effectively using a Chart of Accounts will make reporting easier, streamline your taxes, and empower confident business decisions.
what is a chart of accounts and why do I need one?
Cost of Goods Sold
Assets - Liabilities = Owners Equity
Revenue - Expenses = Net Income
Cash Inflow - Cash Outflow = Net Change in Cash
It is easy to forget the daily, weekly, monthly, etc. tasks that need to be done for your books to be clean and up to date.
We created a simple checklist you can use to make your financial processes a solid habit!
our bookkeeping checklist includes:
Can you keep up with the routine tasks?
Do you feel confident that the numbers are an accurate reflection of your business?
Do you feel confident paying yourself or hiring help?
Are your invoices, taxes, and other financials paid on time?
reconcile down to the penny and not be surprised at tax time!
Timely & Accurate Reporting
Access to an Expert
More Time in Your Business
Houston | Dallas-fort worth | jefferson | AUSTIN | longview | SAN ANTONIO | east texas
SITE DESIGN BY EM SHOP & HIS GLORY COMPANY
We provide simplified and modern bookkeeping to empower small businesses. We currently serve clients located in Houston, Dallas-Fort Worth, Jefferson, Longview, San Antonio, Austin, and East Texas.
We are continuing to expand our services across Texas and nationwide.