Ninety-nine percent of business owners don’t enjoy managing their books – and chances are, you’re one of them. The benefits of virtual bookkeeping extend far beyond simply keeping your financial records in order. Rather than spending valuable time wrestling with spreadsheets or paying for a full-time in-house bookkeeper’s salary and benefits, online bookkeeping services for […]
Simple Guide on the Difference Between Bookkeeping and Accounting
Many business owners feel confused when it comes to handling their finances. They often wonder whether they need a bookkeeper vs accountant, or which tasks belong to bookkeeping vs accounting. In simple terms, The Difference Between Bookkeeping and Accounting comes down to how each professional handles financial information. Bookkeepers record it. Accountants analyze it. If […]
Cash vs Accrual Accounting Which One Is Better for Your Small Business?
Your choice between cash vs accrual accounting shapes your business’s financial story. Here’s good news: businesses earning up to $30 million yearly can now use cash basis accounting. This expanded threshold opens new possibilities for your accounting strategy in 2025. Small business owners love cash basis accounting for its simplicity – you record money when it moves […]
How To Calculate Cost of Goods Sold (COGS) for Your Business
At Gnesist, we know that managing your finances is crucial to the success of your business. One key aspect that can significantly affect your profitability is the Cost of Goods Sold (COGS). For our clients who deal with inventory, it’s important to understand how we calculate COGS and why it matters for your financial reporting. […]
Gnesist Remote Bookkeeping Services: Made Simple, Secure, Efficient, and Reliable
Remote bookkeeping services can save your business over 83% compared to maintaining an in-house bookkeeper. In fact, with monthly costs ranging from $50 to $400, these online bookkeeping services offer significant financial advantages while providing expert financial management. The rise of virtual bookkeeping services has revolutionized how businesses handle their finances, offering a cost-effective alternative […]
How to Setup a Bookkeeping System for a Small Business
Running a small business is rewarding, but managing finances can quickly become overwhelming. Disorganized records, missed deductions, and compliance risks are common pain points for entrepreneurs. At GNESIST, we understand that a streamlined bookkeeping system is the backbone of financial health. In this guide, we’ll walk you through setting up an efficient, error-proof bookkeeping process—and […]
10 Common Bookkeeping Mistakes Small Businesses Make (and How to Avoid Them)
Accurate bookkeeping is the lifeline of your small business’s financial success. In this guide, we’ll break down the 10 most common bookkeeping mistakes plaguing small businesses and provide actionable fixes to help you avoid them. Whether you’re a startup founder or a seasoned owner, these insights will streamline your financial processes, maximize deductions, and keep your business […]