Why hire a professional bookkeeper?
Hiring a professional bookkeeper allows you to concentrate on the principal purpose of your business without losing the detail and attention needed in maintaining accurate business records. Subcontracted bookkeeping also gives you all the benefits and expertise required for business and personal accounting without the expense of a full time employee and their costly benefits package. READ MORE »
What does a professional bookkeeper do?
A professional bookkeeper will take on many of the tedious tasks such as data entry, accounting reporting, and reconciliation. Depending on your level of service, your bookkeeper will manage payroll, accounts receivable and accounts payable.
At Brooks Business Support, we also specialize in helping you structure your accounting systems to suit your business.
Is it absolutely necessary to keep detailed receipts?
Keep all receipts. Make notes on receipts about their business purpose. By keeping receipts and notes pertaining to their purpose you protect yourself and your business in the case of an audit. For tax purposes it is necessary to keep all bookkeeping records and receipts for at least six years. If you don’t want to keep all that paper, you can scan in receipts and keep them electronically. Regardless of how you choose to keep your records always keep a back-up. If paper receipts are somehow lost or damaged, having scanned copies of them is a good back-up. Always back-up your electronic copies, because hard drives crash. No you can’t just use your credit card statements in place of receipts. The credit card only shows a total purchase, not what you purchased.