Quality bookkeeping tips for your business from Rancho Cucamonga accountant

SEO Description: Qualified accountant Mr. Steve Whyte shares quality bookkeeping tips for your business.

No matter what size your business is, maintaining your company’s finances can be a major challenge. At Whyte & Associates, Inc. in Rancho Cucamonga, California, we are here to help! We take pride in providing high-quality professional bookkeeping services to our clients, giving them the time back that they need to focus on what they do best. Read on to learn about our bookkeeping tips to help keep your financial records in great shape.

Maintain all of your financial information in a centralized location

To prepare financial records properly, several pieces of information need to be maintained on a daily basis. It is easiest if you create a system for tracking these and store the information in one centralized location so that it is easy to locate and use when needed:

  • Bank statements
  • Expenses that are not documented on bank statements
  • Cash receipts
  • Payroll information
  • Income sources
  • Credit card statements
  • Check stubs

Hold on to all receipts

In addition to major transactions, it is also important to hold onto your receipts when petty cash is spent. Even though these transactions are typically smaller amounts of money, they can add up. It is important to reconcile them for an accurate financial picture and deter potential theft.

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Avoid paying bills in cash

By paying your company’s bills with a check or credit card, you will automatically have documentation of the transaction that can easily be recorded at a later date rather than needing to be immediately documented.

Seek professional bookkeeping help

At Whyte & Associates, Inc., we live and breathe financial records and can take the time and financial burden off of your shoulders while ensuring that your books are up-to-date and you are ready for tax season, audits, and any other issues that arise that would require current financial statements. We work with a broad spectrum of clients and provide customized reports at the frequency that makes the most sense for your specific situation. To schedule your appointment, call us today at (909) 575-0080.

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