Frequently Asked Questions
What is bookkeeping?
Bookkeeping is the process of recording, organizing, and maintaining a business’s financial transactions. It ensures that income, expenses, assets, and liabilities are tracked accurately so business owners can understand their financial position, stay compliant with tax requirements, and make informed decisions. Good bookkeeping provides clear financial records, up-to-date reports, and the foundation for effective financial management and tax preparation.
How is bookkeeping different from tax preparation?
Bookkeeping and tax preparation work together, but they are not the same service.
Bookkeeping keeps your financial records organized and accurate throughout the year. Tax preparation uses those records to prepare and file tax returns. When your books are clean and up to date, your tax professional can prepare your taxes more efficiently and with fewer surprises.
Bookkeeping keeps your financial records organized and accurate throughout the year. Tax preparation uses those records to prepare and file tax returns. When your books are clean and up to date, your tax professional can prepare your taxes more efficiently and with fewer surprises.
How does bookkeeping make the tax season easier?
When your books are clean and up to date, tax season becomes much easier. Accurate bookkeeping helps ensure income and expenses are properly recorded so your tax professional can prepare your return quickly and with fewer surprises.
Why hire a professional bookkeeper instead of doing it myself?
Many small business owners start by managing their own bookkeeping. While this can work in the early stages, bookkeeping quickly becomes time-consuming and complex as a business grows. Hiring a professional bookkeeper allows you to focus on running and growing your business while ensuring your financial records remain accurate and organized.
A professional bookkeeper can help you:
1. Save time. Bookkeeping requires consistent attention to detail. Outsourcing it frees up valuable time that you can spend on serving customers and growing your business.
2. Maintain accurate financial records. Clean, organized books make it easier to understand your business performance and avoid costly mistakes.
3. Stay prepared for tax season. When your books are up to date throughout the year, your tax preparer can work more efficiently and identify deductions more easily.
4. Understand your financial picture. A professional bookkeeper provides clear financial reports that help you make better business decisions.
For many business owners, working with a professional bookkeeper provides peace of mind and confidence that their finances are being managed properly.
A professional bookkeeper can help you:
1. Save time. Bookkeeping requires consistent attention to detail. Outsourcing it frees up valuable time that you can spend on serving customers and growing your business.
2. Maintain accurate financial records. Clean, organized books make it easier to understand your business performance and avoid costly mistakes.
3. Stay prepared for tax season. When your books are up to date throughout the year, your tax preparer can work more efficiently and identify deductions more easily.
4. Understand your financial picture. A professional bookkeeper provides clear financial reports that help you make better business decisions.
For many business owners, working with a professional bookkeeper provides peace of mind and confidence that their finances are being managed properly.
What should I look for in a reliable bookkeeper?
A reliable bookkeeper should be experienced, detail-oriented, and comfortable using modern accounting software. Look for someone who communicates clearly, understands your business, and maintains accurate financial records so you always have a clear picture of your business finances.
What software does Howe Business Services use for bookkeeping?
At Howe Business Services, we primarily use QuickBooks Online to manage our clients’ bookkeeping. QuickBooks Online is one of the most widely used accounting platforms for small businesses. It allows us to securely track income and expenses, reconcile bank and credit card accounts, generate financial reports, and collaborate easily with clients and their tax professionals.
Because it's cloud-based, clients and their bookkeeper can access the same financial information anytime from any device. This makes it easier to keep books up to date and ensure you and your CPA have accurate information when they need it.
Because it's cloud-based, clients and their bookkeeper can access the same financial information anytime from any device. This makes it easier to keep books up to date and ensure you and your CPA have accurate information when they need it.
How did Katy come to found Howe Business Services?
Katy founded Howe Business Services in 2024 after she left her corporate role and chose to pursue entrepreneurship. Through that transition, she decided to bring her decades of corporate experience to bear in the world of bookkeeping, accounting, and administrative services. Howe Bookkeeping combines Katy's strengths in organization, problem solving, and helping other business owners succeed. Today, Howe Business Services supports over 25 local and regional small and mid-sized businesses by keeping their financial records accurate, organized, and ready for growth.
