Bookkeeping Strategies

Before getting into a discussion of common bookkeeping mistakes, it is worthwhile to address the importance of sound bookkeeping in general.

Most professionals have only a vague understanding of what Artificial Intelligence (AI) is or means. Absent an understanding of these capabilities, it is near impossible to have a working knowledge of the opportunities for applying AI to the accounting field.

Most people starting a business start the business because they are good at providing the product or service they are selling. Bookkeeping is usually an afterthought but yet, a realized necessity to be able to provide the goods and services they wish to sell.

The IRS requires you to maintain consistent accounting throughout your fiscal year. You must use a method that clearly reflects your income.