Bookkeeping

At FinWise Partner, we focus on two crucial parts of bookkeeping that can directly impact your business health :  Categorization and Reconciliation.

Categorization: Organizing Your Finances with Clarity 

Every transaction whether it's income from a client or a business expense  needs to be categorized properly. This step builds the foundation for meaningful financial reports. Here’s how we do it :

• We securely connect your bank and credit card accounts through trusted tools like QuickBooks Online or other industry-standard accounting software.

• These tools automatically pull in your transactions, saving you time and reducing manual errors.

• We then step in to review, clean, and accurately categorize every transaction — whether it’s income, rent, software subscriptions, or office supplies.

• When we come across unclear or mixed transactions, we:

• Split them appropriately (e.g., part business, part personal)

• Flag anything that needs your input — so you’re always in control, without being overwhelmed

📊 The result?  Accurate categorization turns everyday transactions into powerful insights that drive smarter business decisions.

These aren’t just routine tasks they’re the foundation of reliable financial records. Done right, they help you understand your business, stay compliant, and avoid nasty surprises.

Account reconciliation is more than just a checklist item — it’s one of the most time-consuming and complex parts of bookkeeping, especially when left undone for weeks or months.

It’s the process of comparing your accounting records against your actual bank and credit card statements to make sure everything matches perfectly. Think of it like cross-checking your daily journal with your calendar — one small oversight can throw everything off.

Even with tools like QuickBooks or Xero pulling data automatically, mistakes happen:

• Transactions get duplicated

• Some expenses never get imported

• Bank fees and refunds often go unnoticed

• Balances look right — but only until tax season proves otherwise

At Finwise Partner, we know reconciliation can easily become a burden  but it’s also where serious financial accuracy begins.
Here’s what we do for you:

🔁 Catch and correct duplicate entries
🔍 Identify any missing or misclassified transactions
💳 Record often-missed items like bank fees, interest, or bounced payments
🧾 Verify that your books truly match your bank and credit card statements

If this step is skipped or delayed, you might think you have more money than you actually do — leading to cash flow issues, missed payments, or IRS red flags during tax time.