In the course of a day, a firm makes a lot of financial transactions. It needs to keep track its flow of money. The responsibility of documenting these important transactions goes to a company's bookkeeper.
Bookkeeping is about recording all the financial transactions done by the company. In bookkeeping, certain staff, specifically bookkeepers, keep records of what the company sold, bought, owed and owned. The recording, monitoring and tracking of the money that the company receives, releases and saves falls under a bookkeeper's responsibility.
However, some companies do not hire internal bookkeepers to do this process. Some companies find this approach a waste of money. Therefore, they turn to bookkeeping companies to do the job for them.
Employing a bookkeeping company is a good idea, especially for a small business. Having a full time bookkeeper is quite expensive. If the business employs a bookkeeping company, however, it will only pay for services rendered on a per time period basis.
Standard bookkeeping companies keep records and accounts of the firms that hired them. They do not analyze these records, however; the employing company has to hire an accountant to do such a job.
However, for the right price, some bookkeeping companies do offer extra services aside from recording financial transactions. For example, a bookkeeping company may offer a service that shows their client where it is spending its money, making recommendations if anything is amiss. Another service might be analyzing the accounts so that the employing company can maximize its write-offs.
Some bookkeeping companies also help their clients by helping them plan and project for the upcoming months based on the clients' financial books. Some can even help starting businesses steer their financial future or teach them how to weather financial storms. In other words, they help their clients stay in business longer and better.
Even better, some bookkeeping companies also help their clients, especially new ones, build relationships with other businesses they have dealt or are dealing with, thus expanding the clients' network.
Most bookkeeping companies can be reached through the phone or email. Usually, the company first gives an assessment, which entails a minimal fee or free of charge. The client and the bookkeeping company then discuss the result of the assessment. Thereafter, the bookkeeping company advises the client what to do and gives them a proposal. If the client agrees with the proposal, they can begin discussing the method of payment.
