Bookkeeping vs accounting

What are the differences?
Why do I need them?
And how much do they cost?

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At LYFE Accounting, we have helped companies with their bookkeeping processes.

We have helped companies with preparing financial statements.

And companies who need help with tax preparation.

If you’re in business then understanding your financials are really important.

So important, that according to investopedia,

One of the most common reasons small businesses fail is due to lack of capital or funding.

From my personal experience,

Most business owners understand their expenses.

BUT where most people fail is not understanding their revenue…

Thus they wind up investing their profits on poor performing products/services.

Which eventually leads to business failure.

But, we can help eliminate some of that risk with proper financial processes.

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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).