Let's Talk Books
What even is bookkeeping, and why is it useful?
Bookkeeping is the art of keeping track of a business's money - what comes in, what goes out, and where it all goes.
Every time your business earns money, or money moves around, it should be recorded. Bookkeeping organizes all those transactions into clear reports - like a Profit and Loss statement - so you can see how your business is doing financially, stay ready for tax season, and make smarter money moves!
What is a Profit and Loss? It is a report of what your business earned, spent, and kept over a specific period - like a month, quarter, or year. Here is an example:
How much money came in
How much money you spent buying items to sell
Things like rent, utilities, payroll, etc.
What you actually kept after all expenses - this is your profit!
A few ways bookkeeping can help your business:
Stay Organized
Many lenders, grant programs, and companies ask for financial reports like a Profit and Loss statement to see your business finances at a glance.
Understand Your Business Better
Know exactly how much you're earning, where you're spending, and what's really making you money.
Save Time and Stress
With clear records, you don't have to scramble during tax time or guess your finances - you will have everything ready in organized reports.