Bookkeeping
Bookkeeping Services for Businesses in Massachusetts
Clean books are the foundation of every healthy business. Without accurate, up-to-date financial records, you cannot know if your business is truly profitable, you cannot file taxes correctly, and you cannot make informed decisions about growth or spending. At TBS Tax Services, we take on your bookkeeping so your numbers are always right, always organized, and always ready, whether you need them for tax season, a loan application, or your own peace of mind.
We use modern accounting software and bring over 20 years of experience serving small businesses in the Stoughton and Hyannis communities. Our bilingual team makes bookkeeping accessible for English and Portuguese-speaking business owners alike.
What Is Bookkeeping?
A professional bookkeeper records and organizes every financial transaction your business makes, purchases, sales, payments, payroll, and bank activity, so your accounts reflect reality at all times. Specific tasks include:
- Recording income and expenses in the correct categories
- Reconciling your bank and credit card statements monthly
- Managing accounts payable (what you owe) and accounts receivable (what you are owed)
- Generating Profit and Loss statements, Balance Sheets, and Cash Flow reports
- Tracking sales tax collections and preparing for filings
- Organizing financial records so your tax preparer has everything they need
Think of a bookkeeper as the person who keeps score so you always know exactly where your business stands.
How Often Should My Books Be Updated?
Ideally, your books should be updated every week or, at minimum, every month. Letting transactions pile up for a quarter or a year is one of the most common and costly mistakes small business owners make. When books are not maintained regularly, errors compound silently until they become expensive to fix, missing receipts are harder to track down, and you lose the real-time visibility you need to manage cash flow.
At TBS Tax Services, we maintain your books on a regular schedule so there are no surprises at year-end and your reports are always current.
Can You Clean Up Overdue Bookkeeping?
Yes, and this is one of the most common situations we handle. Many business owners come to us with months or even years of unrecorded transactions, disorganized receipts, and bank statements that have never been reconciled. We specialize in bookkeeping catch-up and cleanup, going through your records systematically to reconstruct your books accurately and get you back on solid financial footing.
Once your records are current, we transition you to ongoing monthly bookkeeping so you are never behind again.
Do Bookkeeping and Tax Filing Work Together?
They are directly connected. Your tax return is only as accurate as your books. If your bookkeeping is disorganized or incomplete, your tax preparer has to guess, and guessing leads to errors, missed deductions, or overpaid taxes. When TBS Tax Services handles both your bookkeeping and your taxes, the two processes are seamlessly integrated. Your books are organized with tax preparation in mind, your deductions are properly documented, and your tax filing is faster, more accurate, and more likely to maximize your refund or minimize what you owe.
Can You Help Me Prepare for Tax Season?
Absolutely. Tax season preparation is built into everything we do. Throughout the year, we ensure your income and expenses are correctly categorized, your bank accounts are reconciled, and your records are organized in the format your tax preparer needs. We flag potential deductions, watch for common audit triggers such as undocumented expenses or mismatched income, and have your financial statements ready before the tax deadline arrives.
If you are already behind on your books and tax season is approaching, contact us as soon as possible. We can prioritize your cleanup and get everything in order.
Bookkeeping FAQ
What is the difference between bookkeeping and accounting?
Bookkeeping is the day-to-day recording and organizing of financial transactions. Accounting involves analyzing those records to prepare financial statements, tax returns, and business insights. TBS Tax Services provides both, so your financial data is both accurate and useful.
How long should I keep my business financial records?
The IRS generally recommends keeping records for at least 3 years from the date you filed the return they support. However, if you underreported income by more than 25%, the IRS can audit up to 6 years back. For employment tax records, the minimum is 4 years. We recommend keeping all business financial records for at least 7 years to be safe.
What records do I need for an IRS audit?
If audited, the IRS typically requests income records (bank statements, sales reports, invoices), expense receipts, payroll records, asset purchase and depreciation schedules, and any 1099 or W-2 forms issued or received. Maintaining organized bookkeeping records is the single best way to survive an audit with minimal stress.
Can I do my own bookkeeping and just have you check it?
Yes. We offer bookkeeping review services where we examine your records, identify errors, and make corrections. However, for most small business owners, having a professional manage the books from the start saves more time and money than it costs.
Does TBS use accounting software?
Yes. We work with modern, industry-standard accounting tools to ensure your records are accurate, organized, and accessible. Ask us about your current software setup during your consultation.
What information do I need to provide to get started with bookkeeping?
To get started, we typically need access to your bank statements, credit card statements, any existing accounting records, invoices, receipts for expenses, and payroll records. We will walk you through exactly what to gather during your free initial consultation.
Meet the needs of your business with our bookkeeping services.
We provide expert advice for all sizes and stages of business.