Savvy Ledgers, LLC

Hello everyone! Now that I've shared the 5 benefits of outsourcing the bookkeeping for your business, I will be switching things up.

Today, I will focus on the difference between a bookkeeper and an accountant.

Although bookkeeping is the bulk of the accounting cycle, there are still factors that separate the two roles.

First, let's define the word "bookkeeping". Bookkeeping is the process of tracking and organizing a business's daily transactions from the moment it starts up until the very last second of business. This is done by categorizing each transaction into the proper accounts such as cash, accounts receivable, accounts payable, expenses, etc.

A bookkeeper's responsibility is to ensure these transactions are being properly categorized. Basic bookkeeping services include recording daily transactions, reconciling the bank account(s) every month, providing financial reports, and closing out the books at the end of the period. However, bookkeepers can also provide services such as payroll, paying bills for the business, sending/creating invoices for customers/clients, and paying quarterly taxes.

Now, let's define "accounting". Although it is similar to bookkeeping, accounting is an in-depth process of handling a business's financials. This process involves summarizing, analyzing, and interpreting financial information. In other words, this is the bigger picture of your business in terms of its health and whether your business is at a gain or a loss.

An accountant uses the reports provided by the bookkeeper to help business owners make better decisions. Other responsibilities include overseeing the bookkeeper to ensure the books are being kept accurately, managing the bookkeeping process and correcting errors when needed, providing financial statements after adjustments have been made, and preparing and filing tax returns.

It's important to remember that an accountant can also be a bookkeeper but not vice-versa. However, without the bookkeeping process, the accounting process would be nonexistent.

Guess what today is? Benefit Tuesday 😁. The last and final benefit of why outsourcing the bookkeeping for your business is the right choice for you.

5. Easy and smooth tax season. Let's be honest, we all wait until the last minute to do stuff. But the saying goes "don't put off tomorrow what you can do today". While bookkeeping is such a tedious process, it is VERY essential to all businesses. Not only to comply with federal requirements but to gauge how your business is doing every month. Having a bookkeeper maintain your financial transactions on a month-to-month basis makes tax season a breeze! Your CPA will highly appreciate your financial books being kept up to date.

Convinced yet? Set up your free consultation call today!

Happy New Year! I'm starting off 2023 with the fourth benefit of outsourcing the bookkeeping for your business. Keep on reading 🙂.

4. Producing financial reports. Every business owner needs to know how their business is doing whether it is good or bad. Having a professional bookkeeper is essential for this aspect of your entrepreneurial journey. Why? Because we can produce a thorough report that gives you insight of the bigger picture and what can be improved. These reports include Profit & Loss, Balance Sheet, Statement of Cash Flows, Accounts Receivable and Payable aging reports, specific chart of account reports, and many more! And the best part is, bookkeepers are using cloud-based systems so business owners can see these reports anywhere at anytime!

Convinced yet? Book your free consultation now!

Happy new year! Let's continue to meet our goals while creating new ones 🫶🏼.

Happy Benefit Tuesday! Ready for the third benefit of outsourcing the bookkeeping for your business? Keep reading!

3. Reducing errors. As a business owner, one of your top concerns might be making mistakes when you are categorizing your daily transactions. Outsourced bookkeepers are trained and skilled so that those errors are reduced as much as possible. Let's face it, we are not robots and we make mistakes too! But it's easier for a professional to catch their own mistakes before it's too late to fix them. In today's bookkeeping world, we have cloud-based systems which allow multiple professionals to keep an eye on your financial books at any time and place. Wouldn't you want the peace of mind of knowing your books are being taken care of by a professional?

Convinced yet? Book your free consultation with me!

244 followers?!?! WOW! Thank you all so much for the support. It means more than you know.

Also, don't forget to book your free consultation! It's almost tax season. Don't wait until the last minute 😁.

It's Benefit Tuesday! Today, I'll be going over the second benefit of outsourcing the bookkeeping for your business:

2. Save MONEY! Cutting back on expenses is one of the best ways your business can save money. Having an in-house bookkeeper can cost you an estimate of $45,000-$65,000 a year. You'll also have to provide benefits, insurance, and/or training. Just think about the THOUSANDS of dollars your business can save a year by simply outsourcing the bookkeeping.

Let's say I take you on as a client to handle your monthly bookkeeping. Even with a high monthly charge of $1,000 which totals $12,000 a year, you could possibly save $33,000-$53,000 yearly. Now wouldn't that be great.

Convinced yet? Book your free consultation today!

I woke up to 100 followers this morning! Thank you so much to everyone who is following me. You are BOMB!

Good morning 🌞. I come bearing good news! You now have the option to schedule a free consultation with me at a date and time that works for you. This link is available on my page by clicking "Contact us".

I look forward to speaking with you! Have a great day 😊.

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Free Consultation - Savvy Ledgers, LLC During our consultation call, I'll be asking a few questions about your business to access your bookkeeping needs. Feel free to ask any questions/concerns that you may have. I look forward to speaking with you!