August 18, 2017

About Us

Bonafide Accounting Services prides in providing quality bookkeeping and other services to small business owners. We help create and implement business strategies and financial goals to help grow one’s business. For individuals, we help with budgets and setting financial goals. We offer services to cover most small business owner’s needs, whether the business needs administrative support or just monitoring the business’ cash flow. This allows us to build strong relationships with our clients and help them grow their business successfully.

We offer professional and affordable Financial Accounting, Bookkeeping, Payroll, QuickBooks, and Administrative services. We are located in Cary, NC and serve the Triangle area. Every new client will receive 1 hour consultation FREE.

What does our business name mean?

 

Bonafide

– Latin for “in good faith,” that is, without fraud or deceit, genuine.

Accounting

– Accounting has been defined as “the language of business” because it is the basic tool for recording, reporting, and evaluating economic events and transactions that affect business enterprises. Accounting processes document all aspects of a business’s financial performance, from payroll costs, capital expenditures, and other obligations to sales revenue and owners’ equity. An understanding of the financial data contained in accounting documents, then, is regarded as essential to reaching an accurate picture of a business’s true financial well-being. Armed with such knowledge, businesses can make appropriate financial and strategic decisions about their future; conversely, incomplete or inaccurate accounting data can cripple a company, no matter its size or orientation. Accounting’s importance as a barometer of business health—past, present, and future. Accounting, said the AICPA, is intended “to provide quantitative information, primarily financial in nature, about economic activities that is intended to be useful in making economic decisions—making reasoned choices among alternative courses of action.”

A business’s accounting system contains information potentially relevent to a wide range of people. In addition to business owners, who rely on accounting data to gauge their enterprise’s financial progress, accounting data can communicate relevant information to investors, creditors, managers, and others who interact with the business in question. As a result, accounting is sometimes divided into two distinct subsets—financial accounting and management accounting—that reflect the different information needs of these end users. Financial accounting is a branch of accounting that provides people outside the business—such as investors or loan officers—with qualitative information regarding an enterprise’s economic resources, obligations, financial performance, and cash flow. Management accounting, on the other hand, refers to accounting data used by business owners, supervisors, and other employees of a business to gauge their enterprises’s health and operating trends.

Services

– (noun) Employment in duties or work for another, (adjective) Offering services to the public in response to need or demand: a service industry.