Author: Lakewood Bookkeeping & Support

  • Job Costing for Service-Based Businesses with QuickBooks Online

    Job Costing for Service-Based Businesses with QuickBooks Online

    When it comes to managing a service-based business, keeping track of expenses, labor, and overall profitability for each job is crucial. Accurate job costing helps ensure that your business stays on track financially and allows you to make informed decisions. If you’re a small business owner or looking for bookkeeping services, understanding how to implement… Read more

  • Nonprofit Bookkeeping: Tracking Functional Expenses

    Nonprofit Bookkeeping: Tracking Functional Expenses

    Learn how to track functional expenses in your nonprofit bookkeeping. Read more

  • Nonprofit Budgeting

    Nonprofit Budgeting

    Nonprofit budgeting is a crucial aspect of financial management for nonprofit organizations. A well-crafted budget helps nonprofits plan for their financial needs, allocate resources effectively, and achieve their mission. Here’s a step-by-step guide on how to budget for a nonprofit: 1. Gather Financial Information: – Collect financial statements, income and expense reports, and other relevant… Read more

  • Advantages of Hiring a Bookkeeper vs an Accountant

    Advantages of Hiring a Bookkeeper vs an Accountant

    Both bookkeepers and Certified Public Accountants (CPAs) play crucial roles in managing a company’s financial records, but they have distinct roles and functions. The decision to hire a bookkeeper or a CPA depends on the specific needs and requirements of the business. Here are some advantages of hiring a bookkeeper instead of a CPA: Cost-Effectiveness:… Read more