Bookkeeping Essential for Business Finances
Roseville, CA- Bookkeeping pro Karen Beaton has spent over two decades helping businesses take greater control of their accounting services. Bookkeeping is often one of the most critical and overlooked components of running a small business. Prior to establishing her bookkeeping business, Karen spent 20 years as a bookkeeper in various industries.
We recently chatted with Karen for a brief Q & A for those either starting a new business or others looking to bring a little more organization to their business.
What does a Profit and Loss statement represent?
A Profit and Loss statement otherwise known as a P&L, summarizes your revenue, costs and expenses that occurred during a specified period. It provides information about the companies’ ability or inability to generate profit.
What financial software do you recommend?
I recommend QuickBooks online as it is a full-service accounting program, accessible anywhere you have an internet connection as well as on your mobile phone. It is also user friendly and customer service through QuickBooks is fantastic. I also recommend the QuickBooks for desktop which also includes great features.
What is the purpose of the balance sheet?
A balance sheet states the financial status of a business as of a specific point in time. It shows what an entity owns (assets), how much it owes (liabilities) as well as the amount invested in the business (equity).
Why do I need a bookkeeper?
As a business owner, you need your financial data to be current and accurate so you can make good business decisions and ensure you have a healthy cash flow.
Lyft, Uber Tax Deductible?
Is public transportation like Lyft, Uber, Taxis to meeting or business events tied to the business tax deductible?
Yes, these are tax deductible.
Why did you become a bookkeeper?
My passion is to help small businesses succeed financially.
What is a benefit of having an outside bookkeeper?
Delegating the financial tracking to an outside professional bookkeeper will allow the owner to focus their energies on running and growing their business.
About KB Services
KB Services is owned by Karen Beaton. She is passionate about providing small business owners a clear picture of their financial status. Karen’s services allow business owners to make financial decisions which help meet their financial growth goals.
To learn more about Karen and KB Services, call (530) 305-1088 or click https://www.kb-bookkeepingservices.com
(disclaimer: KB Services is a Roseville Today client)