Full Service Bookkeeping
Full service bookkeeper is someone who combines good process and even have better systems designed for the correct recording, analysis, and transactions regarding a business financial data. Teva Solutions offers you a varied number of bookkeeping services that cater to your financial needs. The different full service bookkeeping are as follows:
This usually occurs for small to medium businesses that do not require the services of a full time accountant or a controller. Usually, the full service bookkeeper has more responsibilities than a regular bookkeeper as he or she, covers financial statements and other paperwork that are not regularly done by a bookkeeper. This service saves our clients the cost of hiring other personnel to do the work.
Analyzing records kept throughout months or years and making a report of your sales, earnings, or finances require a full service bookkeeper. If you want to know the current status of your business or company, then you can through progress reports and analysis of your expenditure. To do so it is best to have your accounts and records looked at by someone who is adept at doing so. Such reports can done (weekly, monthly, or annually) and can help you better analyze your business platform.
Advice on Cash Flow
It is essential for every business to have factual knowledge of their cash flow. Being able to take note and have a responsible method of managing your cash flow is critical in order to keep you and your business profitable and effective in the market. We all know the competition and the challenges faced are enough to disrupt and destroy your business. Without factual knowledge and management of your cash flow, it will be a challenge to keep your business afloat.
If you do not have the time or budget to recruit, interview and hire a bookkeeper as an employee, then you need to consider outsourcing your bookkeeping to us. This is all we do and spend many hours a month educating ourselves to keep up to date on the latest bookkeeping processes and systems to meet today’s demanding business and government requirements.
New Business Formation
If youre interested in starting up a business of your own, the most important thing that you have to consider is your road to success. And for your business to successfully grow and become profitable you need to have a proper accounting system setup and managed for you. As stated, to get the most out of your businesses financials you need the right processes, setup and technologies to give you the data you need to make informed decisions while you grow.
Having a best practices template that can assist you in all your monetary management can be very beneficial to your growth as a business. A bookkeeping checklist can help get all those financial responsibilities done such as taxes, payrolls, and the like, without missing a deadline.
Double Entry Bookkeeping
If you are in a partnership, you`ll most likely need double entry bookkeeping. This involves two individuals or two accounts. This can be advantageous for your business as this method can help lessen errors and mistakes regarding your finances, investments, and revenues.
Nonprofit organizations and groups also need efficient bookkeeping. Such organizations that fall under nonprofit accounting are churches, advocacy groups, and community organizations. The difference between nonprofit organizations and for-profit organizations are that the former focuses on a mission and service whereas the latter aims its resources on gaining money or profit. The majority of these groups are exempted from tax, but it does not mean that they do not have funds, and thats where we step in.