Press Release Forum [pressreleaseforum.com] Forum Index

Press Release Forum [pressreleaseforum.com]
Free Press Release Distribution

A site of EPR Network

 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Real Time Press Release Distribution is here. Try it out, it's free!

 

Bookkeeping Is Imperative For Large And Small Companies Accu

 
Post new topic   Reply to topic    Press Release Forum [pressreleaseforum.com] Forum Index -> Accounting Press Releases
View previous topic :: View next topic  
Author Message
EPR Network
Site Admin


Joined: 31 Jan 2006
Posts: 32038

PostPosted: Tue Nov 02, 2010 6:37 am    Post subject: Bookkeeping Is Imperative For Large And Small Companies Accu Reply with quote

Bookkeeping Is Imperative For Large And Small Companies
Accurate bookkeeping is essential for businesses whether they are large or small. There are many reasons why this is important, from daily management to annual taxes.



Released on: November 02, 2010, 4:48 am
Author: Bookkeeping.net
Industry: Accounting

CHICAGO, ILL. (November 2, 2010) - Keeping accurate records and well organized data is important to the financial well being of companies big and small. Good bookkeeping may not directly contribute to the profits of a business, though some bookkeepers would argue this, it important to the to their fiscal well being. Besides the possibility of increasing profits, there are many important reasons to maintain accurate and organized records.

One of the most important reasons to maintain accurate records is in case the business needs to borrow money for an opportunity to grow or for other expenses. Lenders expect to see solid bookkeeping and to fully understand the solvency of a business before granting any loans. Bookkeepers must keep track of the money that the company or small business has, but also be able to determine whether the owner will qualify for funds in the future. Additionally, companies or small businesses that rely on outside financing to survive must regard this as a top priority.

Accurate bookkeeping is also important in generating data for owners and managers to make management decisions, whether this is on a daily, monthly or quarterly basis. Current ledgers will indicate accurately whether a customer is past due and which are carrying balances on their lines of credit. Without this information, the company cannot effectively respond to patterns of late payments or nonpayment of customers. Additionally, these losses over time will eventually hamper a companies ability to stay in business or have enough to grow.

Businesses also use their records to determine their financial stability. They can see if their gross profits are in line with their projections. Large or small business bookkeeping helps owners decide if the prices of their products and services are sufficient to cover their costs. Additionally, this information is critical at tax time. Accurate income and expenditures are a must for a company to figure their tax liabilities for the IRS.

About Bookkeeping.net:
Bookkeeping.net offers a free service that connects businesses with bookkeeping professions to manage their specific needs. You can find the perfect fit for your business, whether you are interested in payroll processing, accounts payable, accounts receivable, tax reporting, bank reconciliations, financial statement creation or simply general bookkeeping. Regardless of your needs, you can learn more about the bookkeeping services offered and find the right professional for your business by visiting the website today!

-30-
Contact: Michelle Humphrey
Media Relations Specialist
Bookkeeping.net
admin@bookkeeping.net
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Press Release Forum [pressreleaseforum.com] Forum Index -> Accounting Press Releases All times are GMT - 4 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Submit Press Release (Free)Submit Press Release