November 7, 2020 | Posted in Book Keeping
Properly tracking and filing every business transaction requires diligence, time, and knowledge of accounting software. After-the-fact bookkeeping is a service that provides a simple solution to the financially disorganized business owner.
At month’s end, all transactions are accounted for and reconciled using bank statements and accounting software. This is an affordable and less complicated alternative to real-time bookkeeping. After-the-fact bookkeeping takes hassle of recording the movement of every dollar out of the hands of the business owner.
The only requirement each month is sending bank and/or credit card statements to the bookkeeper. The bookkeeper will then categorize the transactions and reconcile the accounts. A profit and loss statement, income statement, balance sheet, general ledger, and any custom reports will be provided.
After-the-fact bookkeeping is a great supplement to a CPA because it takes care of the basic record keeping at a lower price. It will also keep accounting fees low at tax time because all of the financial documentation is already done.