Stay informed about your business’s performance and financial health by receiving monthly financial reports. By keeping your books accurate and up-to-date, tax time will become a breeze. We utilize our expertise and technology to manage financial records, processes, and reporting for clients, ensuring accurate and timely financial statements.

• Using a bookkeeping software system will help you categorize and automatically reconcile the transactions imported from your POS system and manage your payroll.
• Our team can help you understand costs and increase profits as you build your business.
• You’ll get a dedicated accountant, year-round tax advice, tax prep, bookkeeping and financial reports.
• When first starting out, market yourself as a professional who is well-versed in managing accounts, reconciling transactions, providing financial overviews and balancing budgets.
• If you don’t feel comfortable with a freelancer, there are many firms that offer bookkeeping services as well.
• Partnering with a professional bookkeeper and accountant can ensure your financial records are properly maintained and your taxes are filed correctly and on schedule.

Advances in technology in the last decade have made it easier for restaurants to track tips using the cloud. Especially cloud-based Point-of-Sale (POS) systems, which can track far more than just the each tip amount on each transaction. These POS systems can also be set up to automatically import the data directly into your cloud accounting and payroll software, which then updates your general ledger and employee wage records. The cloud is changing how restaurant’s manage records by vastly improving operational efficiencies with automation.

About BKE

And even if you’re not looking for funding, consider asking an accountant to review your financial statements at least once a year. A small business can likely do all its own bookkeeping using accounting software. Many of the operations are automated in the software, making it easy to get accurate debits and credits entered. Ledgers provides tax planning and preparation services for individuals, corporations, and partnerships, using advanced software and a knowledgeable team to help clients save on taxes and minimize liabilities.

• The IRS Publication 531, Reporting Tip Income, is a helpful resource, that offers “best practices” for employees on keeping daily records, reporting tips to employers, and reporting tip income on federal tax returns.
• Alternatively, you may just set up a tip pooling or sharing system all together.
• BKE was a lifesaver when they agreed to onboard my business after my old accounting firm closed without closing my books.
• Your bookkeeper might also prepare other auxiliary reports for your business, like accounts payable and accounts receivable aging reports.
• We help manage the accounts payable process, record processed vendor bills, and assist clients with timely and accurate payment to vendors.
• Individuals who are successful bookkeeping professionals are highly organized, can balance ledgers accurately, have an eye for detail and are excellent communicators.

Also, to protect yourself and your business, your policy should include a grievance process when a problem may arise. Being transparent with all your policies will only build trust and prevent potential problems. Now, if you are a restaurant owner or manager, do not make the mistake of thinking that your employees’ tips are of no concern to you.

SAGE DIGITAL BOOKKEEPING TEAM

If you find that you have a talent for and enjoy the process, you may consider starting your own bookkeeping business providing this service to others. There’s always a demand for experienced, efficient bookkeepers in nearly every industry. Companies often outsource the organization of their finances to independent professionals, then hire accountants for more complex issues and tax filing. Bookkeeping is the practice of organizing, classifying and maintaining a business’s financial records. It involves recording transactions and storing financial documentation to manage the overall financial health of an organization.

BKE was founded in California in 1984 to provide professional bookkeeping designed specifically for the needs and budgets of small businesses. We opened the BookKeeping Express Team Center to provide quality outsourced bookkeeping services to our clients throughout the United States. The Team Center allows us to provide virtual services and explore integration among quality technology applications and business tools, as well as expand our offerings to the business community.

Connect Your Entire Business

If you’re ready to take bookkeeping off your plate and delegate this task to someone else, it can be hard to know where to look. Start by reaching out to other business owners for recommendations, bookkeeping express searching online for providers and checking out reviews on Google or Yelp. If you don’t feel comfortable with a freelancer, there are many firms that offer bookkeeping services as well.

Many times, more so in casual restaurants, waiters and bartenders can be tipped directly from the customer they served. These tips normally come in the form of actual cash left or an added payment onto a check via a debit or credit card charge. These employees may then share or give a portion of their tips or gratuities to food runners, bussers, hosts or other staff members that contributed time and effort during the shift. Our team at Bookkeeping Express provides unparalleled personalized legal accounts management as well as accounting services to a broad range of clients.

Start Your Own Bookkeeping Business

You’ll want to create a contract that outlines details, such as deadlines, rates and expectations so that everyone is on the same page. Keeping up with the records in your small business might be a task you are willing and able to tackle yourself. The system https://www.bookstime.com/ you choose to use doesn’t need to be complicated and the ledgers should be straightforward, especially if you have just a few or no employees. The most important parts of doing your own bookkeeping are staying organized and keeping track of the details.

• FinancePal provides an all-in-one bookkeeping solution that includes features, such as transaction reconciliation, bill pay, business projections, guidance, catch-up bookkeeping, financial statements and tax filing.
• The cloud is changing how restaurant’s manage records by vastly improving operational efficiencies with automation.
• If you’re ready to take bookkeeping off your plate and delegate this task to someone else, it can be hard to know where to look.
• These tips normally come in the form of actual cash left or an added payment onto a check via a debit or credit card charge.
• It’s also ideal for brand-new businesses because FinancePal can help with entity formation.
• This service is ideal for business owners who want to get their bookkeeping in order but don’t have the time or resources to do it themselves.