Virtual/Remote Bookkeeping & Tax Solutions

Q: Is Bookkeeping a Requirement for my Business?

A: Although the IRS does not have a required method of recordkeeping, they do require all businesses to "use a method that clearly and accurately reflects your gross income and expenses."

Q: Which accounting method is best?

A: An important guideline for Small Businesses to follow is the Generally Accepted Accounting Principles (GAAP). GAAP provides a standardized framework for evaluating a company's financial health. GAAP provides credibility to your business when you are applying for needed funds from a financial institution (loans), governmental authority (grants), or if you have eventual goals to sell the business.

Correct formatting of your financial information is crucial for scalability and saleability. Utilizing R22BKS services will optimize your financial data for future growth and allow you to spend your precious time working ON your business instead of IN your business.

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