What is Bookkeeping?

Published Date
January 23, 2023

This is a question that I get nearly every time people ask me about my job and how I help businesses. Often times business owners just nod along and pretend they understand bookkeeping in order to not appear stupid. Here is a judgement free, easy to understand article about what bookkeeping is and some of the things that bookkeepers can help you with.

Bookkeeping is quite simply defined as recording financial transactions for a business. The problem with a definition as simplistic as this is that it implies bookkeeping is easy and simple. It involves making journal entries, coding/reconciling bank accounts, sending invoices, recording bills, and ensuring that financial statements are accurate. This requires a lot of time, effort, and knowledge to make sure that the bookkeeping is correct.

Now you know what bookkeeping is, do you need a bookkeeper? That is the real question that needs answered. Are you spending many hours each month working inside of QuickBooks? Have you ever missed an invoice or are stressed about making sure they all get paid? If you had more time to do things in your life what would you do? If you answered these questions with a yes, then you probably need a bookkeeper. They offer you time and money savings that you would not otherwise be able to enjoy without them, and you may be thinking that it’s out of your price range. I promise that it is not!

Call 801-623-0722 today or fill out a form here to schedule a free, 15-minute consultation for professional accounting services.

Todd Gray

Owner & Bookkeeper at PW Bookkeeping

Helping contractors save $6,500 dollars+ on taxes while increasing profitability.