Building small and medium enterprises is currently becoming a trend, either because of an inadequate financial background or simply doing a hobby that accidentally develops into a business. It should be noted that one of the important things that must be done by small and medium enterprises is to make bookkeeping to control finances. For those who have an accounting education background, of course, this is not a problem but it will be quite confusing for those who do not have the basis of this knowledge. As a result, the finances that are recorded are as they are and often make mistakes that lead to confusion. It is better to use the service of the Bookkeepers near me to help you in the bookkeeping matter.
Collect all proof of transactions such as notes, receipts, and so on to be recorded are the first step to doing bookkeeping. Therefore, you need to ask for a receipt every time you shop for business purposes, no matter how small it is. If something is missing, it will be a pain for you to calculate later. After all, transactions have been collected, classify them into credits and debits. After all, transactions are recorded and classified, it is time to make a journal. However, if the timing does not allow because you are too busy, it can be done at the end of the day, but not for a week because there will be a lot of forgotten transactions. A good journal must have at least these four things: date, account, debit, and credit. You can also add a description and proof of transaction number if necessary.
The final stage after everything is done is to make financial reports. Financial reports are very important to know the financial development of the business you are running. In making a financial report, four things are produced: a profit and loss statement, a report on changes in capital, a cash flow statement (containing information on operational, investing and financial activities), and a balance sheet containing information on assets, debt and capital. From the income statement, you can see whether your business is making a profit or a loss. From here you can think about what should be done for the next business development.