What does Austin bookkeeping offer ?

Bookkeeping sounds like a simple word, however most people try to explain it in various ways but most of the times end up mistaking it with accounting

Running your own business is tough.  Generally, in the first year, you will not make much money as you learn the ins and outs of having a business.  You have to master your product or service, understand the market, find potential customers, and learn from your mistakes �" lots of mistakes.  In this first year, all you are thinking about is keeping your head above water.  It is likely that you are drawing on savings to put food on the table and pay your rent or mortgage.  You know in your heart and mind that you can make this business a success, but it will take time and a lot of hard work.

At the end of the first calendar year in business, you have to look at paying taxes.  Yikes!  All this time, you threw receipts into a plastic bag.  You did not pay much attention to the revenues you earned, other than to deposit them into your personal bank account and thank a deity that you had a bit more money.  Now, at the same time that you are planning for year two of your business, you have to resurrect all of the emotion surrounding that first year. 

Thank goodness for the existence of a bookkeeping and accounting firm in Austin, that can create order from this chaos.  In fact, such a firm can also help you in your planning for the upcoming year.  For example, you can learn about capital expenses that you can deduct from earnings in the coming year.  They can tell you how you can take prospective clients to lunch and deduct that cost from your earnings.  This will make sales a bit less costly for you.
 
Just as important, though, this firm will set up a bookkeeping system for you that will be easy to maintain and provide a turnkey approach for paying taxes.  Your expertise, the one for which you charge clients, is certainly not bookkeeping.  You can outsource this need to a bookkeeping and accounting firm in Austin, TX.  The firm will input and reconcile your receipts, credit card statements, revenues and bank statements every month.  It will also explain where you stand in terms of cash flow and interest payments.  Not only will you be free from the daunting task of dealing with all of this detail, but you will get recommendations for improving your financial position going forward.

Learn more about bookkeeping Austin by visiting www.detailbooks.com.