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Bookkeeping is essential for small businesses, as it enables them to analyse and plan based on the data they’ve collected, reduces accounting costs, and saves them time during tax season. Keeping your books up to date is especially important in the event of an audit.

The balance sheet, income statement, and cash flow statement are the three most important reports in small business accounting. 

Accounting is responsible for interpreting, classifying, analysing, reporting, and summarising financial data, while bookkeeping is in charge of recording financial transactions. Bookkeeping is a reactive profession that records transactions that have already occurred, while accounting is more proactive in meeting future financial needs.

Our proactive approach helps business owners identify trends and identify issues before they become major issues. Monthly financial statements help them stay on top of their business, allowing them to focus on increasing profits.