At Bates Accounting Inc. in Jefferson City, MO, it's crucial to understand the distinction between bookkeeping and accounting.
Bookkeeping is the initial step in financial management, focusing on recording and organizing daily financial transactions. It involves maintaining ledgers, tracking expenses, and reconciling bank statements. Bookkeepers ensure the accuracy and completeness of economic data, providing a solid foundation for further analysis.
Accounting takes the data generated by bookkeeping and transforms it into meaningful insights.
Accountants at Bates Accounting Inc. go beyond recording transactions; they interpret financial information, prepare financial statements, conduct audits, and offer strategic financial advice. Accounting aims to provide a comprehensive view of the company's financial health, compliance with tax laws, and guidance for informed decision-making.
Maintaining your financial expenses, profits, and loss statement goes beyond recording random expenditures and payments. The segmentation necessary for your business bookkeeping is proprietary to your industry. Know every deduction-worthy expense you have. Let Bates Accounting Inc. record your accounts receivables, payables, and business losses so you are not penalized. Proper bookkeeping and accounting make doing your taxes less stressful.
In need of an experienced tax preparation accountant? Book one by calling 573-893-4991.
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3628 A W Truman Blvd, Jefferson City, Missouri 65109