Frequently Asked Questions

Having entrepreneurial family and friends, Jennie knows how essential it is to have accurate financial records in a business. She founded Stowe Bookkeeping LLC to help other small businesses get and keep their books in order. 

Whether you need to file taxes, get a business loan, or a home mortgage, it is necessary to have accurate financial records/reports to move forward in your business or personal life. Jennie is excited at the opportunity to keep your books ... allowing you and your business to move forward toward achieving your goals.

Outsourcing to a professional bookkeeper has many benefits: 

• Your books are kept by a professional who cares about your business. 
• Many virtual bookkeepers specialize in working with specific industries. 
• Thanks to the cloud-based softwares available, a virtual bookkeeper can work with you regardless of location.
• With the cloud-based software everything is available to you 24/7  regardless of location.
• Outsourcing your bookkeeping relieves financial pressure from your business since you do not have to hire and support a full/part-time employee.

A bookkeeper keeps businesses' financial records up-to-date, which includes: categorizing all income and expenses, monthly reconciliation of bank and credit card accounts, processing of payroll, monthly/quarterly preparation and interpretation of financial reports (Balance Sheet, Profit and Loss, and Statement of Cash Flows), and year-end preparation for tax professional. 

For more information on the bookkeeping role, check out the link below:

https://quickbooks.intuit.com/ca/resources/bookkeeping/what-roles-do-bookkeepers-and-accountants-play-for-small-businesses/

All businesses, including nonprofits, need to keep accurate financial records. It is always important to know the financial health of your own business - is your business dying, surviving, or thriving? 

When a business wishes to receive a loan, it must submit the necessary financial records to the bank/financial institution. If  they do not have the records, then their request for a loan will be denied. Most businesses are also required to file annual/quarterly taxes for the IRS, which cannot be done properly without accurate records. 

For more help in determining if you need a bookkeeper, click the link below:

https://www.entrepreneur.com/article/290854

Do you keep your own books? If so, how much time do you spend on them on a weekly or monthly basis? What is your time worth? You do the math. 

Having a bookkeeper allows you to spend your valuable time growing your business and increasing revenues. With proper categorization of transactions, tax preparation becomes straightforward and your risk of audit is minimized.   

Click here to learn more about how a bookkeeper can save you money:

https://quickbooks.intuit.com/ca/resources/bookkeeping/four-reasons-keepers-money-savers/

Some business owners do keep their own books. But you must ask yourself a few questions: Do you have the time? Is it worth your time? Can you do it well? If you answer negatively to any of those questions, you may want to consider hiring a professional bookkeeper. If you are interested in keeping your own books, check out our online course!

Check out Jennie's article "Bookkeeping at the Beginning" published by Brainz Magazine for 3 simple steps you can take today!

https://www.brainzmagazine.com/post/bookkeeping-at-the-beginning

There's some confusion in the entrepreneurial world as to what is actually a bookkeeping software. Read Jennie's article published in Brainz Magazine to clear up the confusion!

https://www.brainzmagazine.com/post/isn-t-this-a-bookkeeping-software