LedgerBench

For Small businesses, capital management is imperative. From shaping an idea into a business model to investing in its growth, every step of the business requires capital. And to keep track of a company’s financial transactions and recording it in the company's general ledger accounts, businesses need professional bookkeepers. While many small businesses prefer to do their books by their own, seeking professional help is always a wise option. So what does a bookkeeper do ? Here’s what you need to know about the importance of hiring a professional bookkeeper: Bookkeeper for a Small Business A Bookkeeper might have different tasks at his/her hand depending on the size of the business. However, the core responsibility of a bookkeeper includes recording and organizing the company’s financial transactions (income and expenses).  Looking for - Bookkeeping Services for Small Business Why should Small Business owners hire a Bookkeeper? Small Business owners often overlook the impo...

As a business owner, you might sometimes make the biggest blunder that involves your business balance sheet. Mistakes in accounting are common and can happen time to time. Even the accountants and bookkeepers services can stable the turbulence in the business plans.  What is a Balance Sheet? A balance sheet is a financial statement that tracks your company’s progress.  Your balance sheet consists of assets and liabilities. Assets are what is owned by the company and liabilities are what a company owes.    On your business balance sheet: Assets = Liabilities Your assets must be equal to total liabilities. If they don’t match your balance sheet is unbalanced. This depicts that there is some kind of mistake.  Your balance sheet is an indicator of business current and future health.  If you want to avoid errors on your balance sheet, scroll down to read more.  The most common balance sheet mistakes: 1.    Omit...

Business needs both financial and management reports for the growth of its company. Your business needs basic financial reporting for compliance and making sure your books are accurate. As the business grows, you find it difficult to tackle every aspect of your business. Most bookkeepers only now how to handle billing, collections, deposits, payroll etc. When you reach a point where a bookkeeper is not sufficient this is when outsourcing comes into the picture.  What is outsourced accounting and bookkeeping? Outsourced Accounting Bookkeeping is a service which provides full accounting experience for small businesses. An outsourced accounting department handles day to day transactions of the business, accounts payable, accounts receivables, payroll, management financial reporting and many other services. Outsourcing offers a team of professionals at a lower cost as compared to hiring in-house.  The following reasons will compel you to outsource your accounting and bo...