You Need A Bookkeeper

K & S Bookkeeping & Tax Services offers bookkeeping services to home-based businesses, small businesses and medium-sized corporations. Our service takes the burden of keeping tabs on your income, help with payroll taxes, purchases, investments, and so much more.

We are available for you weekly, monthly, and by the hour. Call us today to learn more.
Balance Sheet — Newport, TN — K & S Bookkeeping & Tax Services

Bookkeeping 101

Key Terms:

  • Revenue is the income a business receives for selling product or services. 
  • Cost is also known as cost of goods sold. The goods can either be purchased or manufactured or both.
  • Expense is the cost to run the company: Electricity, Rent, Salaries, Marketing, and more.
  • Our job as your bookkeeper is to identify your transactions and set up accounts to properly track them. For example: You have made a sale of a product to a customer. We would enter the sale as well as the cost of goods and deduct the expenses. Keeping you in the loop so you know how much you are making.
  • Now, this example sounds simple, but when you multiply hundreds of transactions a month and thousands a year, it could be very tough. Even for those with a small home-based business and you are dealing with dozens and hundreds, the task of taking time to do the books is a difficult one.
  • Come to the team that can handle it all. K & S Bookkeeping & Tax Services. Call us today and let’s get started.

faq

  • What is commercial bookkeeping?

    Commercial bookkeeping involves recording, organizing, and managing financial transactions specifically for businesses. It helps companies track income, expenses, payroll, and other financial data accurately.

  • Why does my business need commercial bookkeeping services?

    Accurate bookkeeping is essential for making informed business decisions, ensuring compliance with tax laws, managing cash flow, and preparing for audits or financial reviews.

  • What services are included in commercial bookkeeping?

    Services often include recording daily transactions, bank reconciliations, invoicing, managing accounts payable and receivable, payroll processing, financial reporting, and preparing documentation for tax filings.

  • How can commercial bookkeeping services help improve my business?

    They provide clear financial insights, reduce errors, streamline financial processes, and save time, allowing you to focus on core business activities.

  • Are bookkeeping services customizable for different industries?

    Yes, reputable bookkeeping services tailor their offerings to meet the specific needs of various industries, including retail, manufacturing, professional services, and more.

  • What software do commercial bookkeepers use?

    Common software includes QuickBooks, Xero, Sage, FreshBooks, and other accounting programs depending on the client’s preferences and business size.

  • How much do commercial bookkeeping services cost?

    Costs vary based on the scope of services, business size, and transaction volume. Some providers charge hourly rates, while others offer fixed monthly packages.

  • Can bookkeeping services help prepare for tax season?

    Yes, bookkeeping services keep financial records organized and up to date, making tax preparation easier and ensuring compliance with tax regulations.

  • Is remote bookkeeping possible?

    Absolutely. Many firms offer remote bookkeeping services using cloud-based software, allowing real-time access to financial data from anywhere.

  • How do I choose the right commercial bookkeeping service?

    Consider factors such as experience, industry specialization, software proficiency, pricing, customer reviews, and the ability to communicate effectively with your business team.