Each month, your bookkeeper categorizes your transactions and reconciles your accounts. Categorizing transactions records each transaction under the right account so you have clear records of how much the business made and where the money went. Note: QuickBooks Online offers Payroll for an additional cost.

Bookkeeping is something that you either have to learn or outsource when you're running a business. Luckily, it's possible to learn how to manage your own books and there are a few notable benefits to tackling it yourself.

Many bookkeeping professionals agree that their profession does not require any supernatural skills. As far as newcomers to the accounting industry are concerned, they certainly have a hard time at first. Yet, the same can be said about any other profession. All skills and abilities come only with time and experience.