Bookkeeping Best Practices: Take Control of Your Business financesWhen it comes to working as a solo practitioner in these testing COVID-19 times, it is important to ensure that you have all bases of your business covered.
Many solo practitioners do not have the money to invest in extra employees for tasks such as appointment booking and bookkeeping, meaning they have to become a one-person army in order to stay on top of everything. Fortunately, we at CompanyOn know exactly how difficult this can be and have designed our services and systems accordingly.
What is the difference between bookkeeping and accounting?
Many people confuse bookkeeping and accounting, but these two fields could not be further apart. The greatest distinction between the two lies in their goals, with the former designed to record and the latter implemented to analyze the financial health of a business. Bookkeeping is administrative, accounting is analytical.
Why bookkeeping matters?
- Gives a clear financial picture
- Catches tax deductions
- Helps to get business loans
- Catches financial mistakes
- Saves time
- Saves money
How CompanyOn can help you manage your books?
Our platform allows users to track any and all expenses coming out of their business, as well as all transactions that take place in the day-to-day running. This bookkeeping tool is a must-have for all solo practitioners in order to see dramatic savings in both time and money, as well as a decreased risk that any mistakes will be made. With our platform all your bookkeeping needs are cover:
- Record financial transactions
- Issue invoice to customers
- Produce reports on all expenses and transactions
Think of bookkeeping as an accountability buddy, tracking your daily income and expenses, while holding you accountable for managing your own money. This way, you always know what’s happening within your business’ bank account and can continue to make the best financial decisions possible.
To learn more about these benefits and many more, sign up for your free trial or book a demo. Don’t just take us at our word with regards to these many benefits either, have a look through our positive customer testimonials online to see how our services can improve your solo practitioner business today!
With CompanyOn by your side, business really is that simple.
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