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terminology Archives - The Accounting Department Inc

Bookkeeping Overcomplicated? 5 Things to Review

By | Bookkeeping 101, Business 101, CEO Mindset, Outsourcing | No Comments

Whatever your chosen profession – attorney, doctor, or service provider – you chose it based on your strengths, which I am going to guess, did not include a love of numbers. Nor did a beautiful illustrated finance how-to manual come from the IRS after filing for your federal ID number (wouldn’t that be something?). Since 2001, I have worked with many business owners where the majority of them had overcomplicated their bookkeeping processes, all at similar pain points. They were at the point of taking no action, even avoidance of filing necessary tax returns. Here are the stuck points business…

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Terminology 411: Bookkeeper, Accountant, Tax Professional – Who do YOU Need?

By | Accounting 101, Bookkeeping 101, Outsourcing, Team Building

Webster defines a bookkeeper as a person who records the accounts or transactions of a business. What a flat, not to mention outdated, definition of a bookkeeper.  To be honest, while the statement is true we find it difficult to use it as a label for ourselves. Our team has revolutionized “bookkeeping” and “accounting” to incorporate a holistic approach for business owners. This is what we call bookkeeping basics “The ADI Way”. The first secret we’ll let out of the bag: there is nothing new in what defines bookkeeping.  Bookkeeping started with abacus and paper, both tools we don’t see…

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