Cash Basis & Accrual Accounting

Running a successful business is full of challenges. Things can inevitably go wrong, however minimizing the consequences is essential. Mismanaging your money, cash flow issues, and more are critical enough to cause your business serious problems. At Momentum Bookkeeping, our cash basis and accrual accounting services are designed to help you manage and control the financial aspects of your unique business. From reporting on income when it leaves your hands to paying income tax, our professionals are here to help.

Cash Basis Accounting

When it comes to cash basis accounting, our professionals will assist your business in recording income as it is received and expenses as they are paid. This method of accounting only records your expenses once money leaves your account to vendors, pay supplies, and other third parties. As a result, we’ll ensure your organization properly records payments when they are received in the form of cash, checks, credit card receipts, and gross receipts.

Accrual Accounting

With our methods for accrual accounting, our professionals will ensure your business accurately records income and expenses when they are billed and earned, regardless of when the money is received. Accrual accounting is a fundamental asset to your organization as it provides a clear picture of your company’s overall finances.

Journal Entries

Ensuring your business’s financial records are accurate and up-to-date can be painstaking and overwhelming. At Momentum Bookkeeping, our journal entry services are an essential tool in ensuring your books remain accurate in the midst of your day-to-day operations. Through accurate journal entries, you can keep track of the account, date, and reason for the transaction. With our professionals by your side, you can spend more time focusing on growing your business and less time focusing on your financial records.

Trust Momentum Bookkeeping to focus on your finances so you can spend more time growing your business. To learn more about our cash basis and accrual accounting services, contact us today!

Highly Recommend!

"The problem is I don't have a quote, I have a whole story! Amanda will not tell you what you want to hear, but what you need to be successful!" - Mamba Hamissi, Baobab Fare

Extremely Helpful!

"Momentum Bookkeeping is always quick to respond, very personable, and always extremely helpful." - Isabelle Elwart, Le Detroit Macaron

Quick to Respond!

"Amanda and her team are always quick to respond and I feel that they have my best interest in mind. Frankly, I feel like they are a real part of my team, too." - Mark Aiello, Aiello Law Group PLLC