Regular and accurate bookkeeping is a vital yet tedious part of keeping on track with one’s finances. Assets, liabilities, and equity, make up a lot of a company’s balance sheet. By the end of each year, a business must have its books balanced with each item tracked and accounted for.
Whether it’s a small business or a large corporation, this is a process that all enterprises must go through. It is the type of entity that is a different process.
Single-Entry: A system based on the income statement (profit or loss statement). It can be a simple and practical system if taxpayers are starting a small business. The system records the flow of income and expenses through the use of:
Double-Entry: A system uses journals and ledgers. Transactions are first entered in a journal and then posted to ledger accounts.
Entry selection is where most entities need assistance as analyzing the data can be both confusing and difficult. Businesses that are just getting started especially find this process challenging as they need help setting up or making organizational changes.
At Coast One Tax Group our expert bookkeepers help customers maintain their ledgers with ease. We take a proactive approach to our clients’ bookkeeping needs by simplifying the tracking of cash flow, monitoring business pulses, and more.
Our tax professionals keep records and bookkeeping up to date and clients always keeping our clients ready for tax season.
Coast One Tax Group accountants can guarantee the following:
Coast One allowed me to have peace again. I was in tax liability over my ears and saw no way out...
