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 […]

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 […]

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 […]

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. […]

Remote bookkeeping services can save your business over 83% compared to maintaining an in-house bookkeeper. With basic online bookkeeping services available for as little as $200 to $500 per month, companies gain expert financial management at a fraction of the cost of a full-time staff member. The rise of virtual bookkeeping has revolutionized how businesses […]

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 […]

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 […]