Keep Records

What is bookkeeping?

Bookkeeping is the process of recording and organizing all financial transactions for a business. Bookkeeping plays a critical role in regulatory compliance, helps in preparing financial statements, and is necessary for tax preparation. Effective bookkeeping helps entrepreneurs identify financial strengths and weaknesses, enabling strategic adjustments to enhance profitability and business growth.

I want an in-depth review of bookkeeping for small businesses.

Keeping track of how much money comes in and goes out is like having a guidebook for small businesses. It helps owners make smart choices, stay true to their goals, and keep their businesses growing strong. SBA offers a resource on why keeping track of your expenses and revenue is vital for your business.