All About Bookkeeping
Do you know that warm fuzzy feeling you get after filing your taxes? It does not have to be fleeting! You can feel that year-round by hiring us to keep your books up to date on a month-to-month basis, not quarterly, and DEFINITELY NOT on an annual basis!
When balancing your books monthly, it is much easier to spot deficiencies like bank errors (however rare but possible) because of the small volume of transactions. These deficiencies can make reconciliations a nightmare because your books will not balance unless the bookkeeper gives up and does an adjustment which will have to be done EACH AND EVERY MONTH going forward. I refused to do that once upon a time.
After doing a deep dive of research resulting in that rare bank error since every other transaction was perfectly balanced. The bank had incorrectly recorded a transaction as $.50 instead of $.05 in my company’s favor. I pointed this out to the bank, and not only did I receive an apology, but a letter, and a revised bank statement so that I could properly close that month’s books WITHOUT doing an adjustment 😊