![]() Ideally, you should hire a bookkeeper as soon as you start your business. Often, there is confusion as a small business owner whether you should hire and when should you hire bookkeeping services. If such reports are not maintained accurately by the bookkeeper, it can impact your business forecasts, customer payment terms as well as your business spending. These reports indicate whether your business is profitable or not and whether it has sufficient cash in hand to meet its day to day operations. accounts payable – a statement that reflects the creditors or the amount that needs to be paid to suppliers as well as when such payments are due.accounts receivable – a statement that reflects the debtors or the amount that needs to be collected from customers as well as when such receivables are due.cash flow statement – a statement that records all cash transactions and showcases the amount of cash-in-hand the business has.profit and loss – a statement that keeps a track of earnings and expenses and reflects whether your business is profitable or not. ![]()
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