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Essential Bookkeeping Tips for Small Business Owners

When running your own business, managing your books can seem very daunting, especially when only starting out. Starting right with bookkeeping ensures you don't face surprises later. Understand your financial cycle. Keep track of daily expenditures, income, and invoices. Without this, you might struggle to see the bigger picture of your business financials. Embrace tools like Xero to ease your daily tasks. They're helpful in organising records and keeping things straightforward. Think of them as...

Exploring The Key Differences Between Bookkeeping And Accounting

When diving into the world of finance, understanding the roles of bookkeeping and accounting is crucial. At CB Solutions, we make it easy to differentiate these important functions.Bookkeeping focuses on recording daily financial transactions, maintaining an accurate and organised record of all your business's financial activity. This involves tasks like posting entries, managing invoices, and reconciling bank statements. Bookkeepers are the foundation, ensuring all data in financial systems lik...