The time honored procedures of double-entry bookkeeping have been around since 1494. Luca Pacioli, in Venice, Italy wrote, Particulars de Computis et Scripturis, (Details of Calculation and Recording) and those basic concepts still hold true today.
What keeps changing over time are the various tools that become available for accounting/bookeeping activities. Like many of you, I spend most of my time in the clouds nowadays. It is easy and quite accessible.
For small businesses, per the IRS; "Good records will help you monitor the progress of your business, prepare your financial statements, identify source of receipts, keep track of deductible expenses, prepare your tax returns, and support items reported on tax returns"- IRS web page, RECORDKEEPING, Click here for more information.
Currently, in the United States, the federal and state taxing authorities generally require "ADEQUATE RECORD KEEPING".
Record keeping is not only the organizing and retention of specific business documents, but also the overall system of recording transactions.
So if you think, (or know), you might not be compliant, when it comes to your accounting system, or;
-if you are just getting your business set up and want to "do things right" from the very start, or
-just want a second opinion (beside your own), as to whether you are compliant with federal and state requirements, or
-if you are making the best use of your current accounting system,
then call or email me so we can talk about some affordable and efficient ways to:
Simple, make your accounting system work for you. Sounds easy doesn't it.
My approach is a little different than some of the others. When I am assisting you with your accounting needs, I want your input and I want to hear your thoughts.
I also insist that you have some basic understanding about the "accounting" side of your business, so I am looking forward to helping you understand "what you need to know" to move your business forward and prosper.
Clients often say to me, "Mark, you don't seem like the typical accountant". I am not really sure what they mean by that, (maybe I am more approachable, more accessible, I use short easy to understand sentences, I take the time necessary to make the client feel comfortable). I do not know for sure, but my usual reply is, "thanks".