There are a lot of critical components required for you to run a business. No matter what size your business is, you’ll need to focus on certain components to keep it up and running. One of those important components is your financials.

It’s not enough to know how much money your business is bringing in. While it’s helpful, it only tells some of the picture. What about the money that you’re spending to keep your business running?

The only way you’ll know is if you compile that information. But we get it, there is only 24 hours in a day. You devote so much of your life to keeping your business afloat.

Where are you going to find the time to record and categorize your transactions? Who will maintain your ledgers and reconcile your accounts?  Who can help you manage your accounts receivable and accounts payable? Who can help you with processing your payroll or doing invoicing?

That’s where a bookkeeper can help. They take on a more administrative role for your business, recording financial transactions, which includes purchases, receipts, sales, and payments.

They work differently from accountants, who are there to help with financial analyses and reviews. Accountants also help with forecasting, budgeting, and analyzing books. A good bookkeeper will make sure your finances are organized so you can send them to an accountant to look over.

A lot of what an accountant can provide you wouldn’t be possible without the help of a bookkeeper. They can be tasked with sending financial data to an accountant during the tax season.

It’s important to have a bookkeeper as a part of your business. They exist to help you with invoices and bills, and can stay on top of any cash flow issues.

If nothing else, bookkeepers exist for one perfect reason: They can input financial information for you so you can spend more time working on your business.

If you need help with bookkeeping for your small business, then contact Nostvick Bookkeeping today.