A Beginner’s Guide To Bookkeeping

When starting a new enterprise, it’s essential to keep your costs down to ensure a steady stream of cash flow. It will greatly help to smooth you over while establishing your name in the market.

However, in an endeavor to save cash, many entrepreneurs prefer to take care of bookkeeping themselves. Sadly, it will cause nothing but grief and will end up costing you more in the long run.

Even if you are well versed with crunching numbers and analyzing financial statements, it’s generally not a good idea. Besides, once your business starts to grow, you’ll have less time to take care of the things you love with the mandatory task of bookkeeping on your plate. Therefore, it’s essential to hire a professional bookkeeper from the very start.

To ensure you get your business off on the right foot, ALL-PRO Business & Bookkeeping Corp. has put together a Beginner’s Guide to bookkeeping. Following this guide will feel help you feel confident and ensure your books are in order.

Getting Started

Understand the basics: While you shouldn’t try to process your bookkeeping in-house, it’s vital that you understand your finances at all times.

Get organized: It would serve you better if you keep paperwork ready in advance. Disorganization causes additional work for the bookkeeper, which will take more time to sort out and cost you extra money in the process.

Next Steps

Ask for referrals: If you have an accountant or have worked with one in the past, then you can request them to refer you to a suitable bookkeeper. They will be happy to help.

Do your due diligence: Conduct thorough research of bookkeepers by checking how long they have been in business and if they have experience working with companies similar to yours. Reading online reviews and testimonials will also assist you in shortlisting the best professionals in your area.

Meet and greet the bookkeeper: Once you’ve narrowed down a bookkeeper that you feel is right for your enterprise, set up a meeting. It will allow you to assess if you can build up a rapport and work with them over the long term.

Advice From The Pros

Consider the cost: Don’t hire the cheapest bookkeeper as sometimes you get what you paid for, which may create an adverse impact. We can’t stress this enough! So, be smart and choose your bookkeeper based on their abilities.

Check credentials: Don’t get fooled by unqualified individuals that say they can do the work but are not certified. Bookkeepers are unfortunately not regulated, but we hope to be soon!

At ALL-PRO Business & Bookkeeping Corp., our goal is to exceed your expectations. As the go-to experts in Calgary, Alberta, for all your bookkeeping needs, you will get the peace of mind that your finances are getting taken care of by a professional.

We specialize in financial statement preparation, remittances for payroll and GST, job costing, class coding, sorting and filing receipts, and administrative services. We also undertake for clients accounts receivable, data entry, accounts payable, payroll, petty cash management, and bank or credit card reconciliations.

We serve clients across Airdrie, Cochrane, Bearspaw, Bragg Creek, Calgary, Chestermere, Strathmore, De Winton, Okotoks, Black Diamond, and High River, AB.

Visit our website to learn more or contact ALL-PRO Business & Bookkeeping Corp. today.