Accounting
In addition to invoicing and expense tracking, the Bee offers a simple online accounting feature called “Books”. Your accountant would refer to “Books” as a general ledger. We prefer to think of Books as a place where all of your invoices, payments, and expenses end up. With Books, you will instantly know where you stand financially in your business.
To get the accounting party started, the Bee allows you to “Invite your Accountant”. Sending your accountant an invitation, lets your accountant login into your Bee account. Concerned about what your accountant can access? The Bee allows you to restrict the functions available.
You and your accountant will have access to a complete Chart of Accounts in the Bee. The Bee sets up the chart for you when you sign up, then lets you make changes as needed. Makes changes yourself, or turn this task over to your accountant.
The General Journal allows you or your accountant to make entries to adjust your books. Accounting entries such as depreciation and loans are entered in the General Journal.
The Trial Balance Report shows the online accounting entries coming from the invoices, payments, and expenses you enter into the Bee. The Trial Balance also includes entries from the General Journal. The report can be printed in summary form, or detail, showing each of the individual transactions for the selected date range.
The Bee also provides you and your accountant with a Balance Sheet. The Balance Sheet lists the assets, liabilities, and equity of your business. Think of the Balance Sheet as a “snapshot in time” of where you stand financially as of a specific date.
No accounting system would be complete without a Profit and Loss Report. The Bee’s Profit and Loss report can be printed for any date range you wish to report on.
With the Bee’s combination of easy invoicing and simple online accounting, you’ll be managing your growing business like the big guys!