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5/15/2024 Simplifying Your Finances: Why Hiring a Bookkeeper Makes Sense Running a business involves juggling many tasks, from serving customers to managing operations. Amidst the hustle and bustle, keeping track of finances can often become overwhelming. As a business owner, you might wonder, "Are bookkeepers worth it?" Well, let’s break it down. 1. Expertise Where […]

1- A bookkeeper’s main role revolves around maintaining accurate financial records for businesses. They meticulously record all financial transactions, including purchases, sales, and expenses, ensuring everything balances correctly. Beyond data entry, they analyze financial data to identify trends, patterns, and areas for improvement. 2- Reconciling accounts is a key part of a bookkeeper’s job. They […]

04/23/2024 Keep Good Bookkeeping Records: Write down everything about your money: what you get, what you spend, and any bills or receipts. To make it easier, you can use software or get help from a bookkeeper. Check your bank statements often to ensure they match what you’ve written. Organize Your Receipts and Bills: Sort out […]

02/02/2024 1- Understand Your Goals: Understand your business’s financial goals and objectives thoroughly. This insight will guide your bookkeeping approach and help tailor your services to their specific needs. 2- Maintain Detailed Records: Implement meticulous record-keeping practices to accurately track all financial transactions, including income, expenses, invoices, and receipts. Utilize bookkeeping software like QuickBooks or […]

01/24/2024 From Instr. for Forms 1099-MISC and 1099-NEC (Rev. 01-2024) File Form 1099-NEC, Nonemployee Compensation, for each person during your business to whom you have paid the following during the year. • At least $600 in: 1. Services performed by someone who is not your employee (including parts and materials) (box 1). 2. Payments to […]

11/17/2023 All S-Corporations in Massachusetts must file their Annual Report before 03/15/2024 to ensure your business entities remain in good standing with the state office and avoid potential fees and state penalties. Failure to file an annual report may result in: 1. State-imposed fines and penalties. 2. Possible suspension or involuntary dissolution of your businesses. […]

10/16/2023YES, receipts are required in case of an audit. The tax authorities or auditors may ask for receipts and other supporting documentation during an audit to ensure accurate tax returns or financial statements. Receipts serve as proof of transactions and expenses claimed on tax returns. They contain details such as the transaction date, parties involved, […]

AI cannot substitute a professional bookkeeper because bookkeeping involves not only data entry but also complex interpretation, judgment, and decision-making. Professional bookkeepers bring their experience, knowledge, and personalized service to handle unique business needs, communicate effectively with clients, and navigate complex financial transactions. They possess the ability to exercise judgment, assess credibility, and provide tailored […]

05/02/2023Having a professional bookkeeper is crucial for your business. It can help with financial tracking, provide valuable insights, and ensure tax compliance. This saves time and reduces errors, contributing to long-term growth and success. Patricia de Oliveira Bookkeeper Professional 508-221-1874 Maple Bookkeeping Services Please leave or read ratings and reviews on my ProAdvisor listing!

A Profit and Loss (P&L) Report, also known as an Income Statement, is a financial statement that tells you how well a business did financially. The report shows how much money a business makes (revenue) and how much it spends (expenses) during a certain period. If the business made more money than it spent, then […]