Why Should I Hire a Bookkeeper?
Bookkeepers have expertise and accuracy in managing finances, which can save you time and ensure precision By hiring a bookkeeper, you can focus on core areas of your business, leading to increased productivity and motivation Bookkeepers are familiar with tax laws and regulations, ensuring that your books are organized and paperwork is filed on time. Bookkeepers can prepare financial statements, run reports, and provide insights on your numbers, helping you achieve your business objectives Bookkeepers can assist in setting up payment terms, reminding you and clients of payment dates, and setting up accounting automations These benefits can help you achieve financial stability and focus on growing your business.
Can I Do My Own Bookkeeping?
You can do your own bookkeeping if you have the time and willingness to learn how to do it right. Doing your own bookkeeping can help you understand your business's finances better and save money, but it can be very time consuming and requires a certain level of expertise. There are pros and cons to both options. Doing your own bookkeeping means you need to reserve enough time each month to clean up your books, but you'll gain a better understanding of your business. On the other hand, hiring a bookkeeper can save you time and ensure accuracy, especially as your business grows and bookkeeping tasks become more time-consuming. If you simply can't find the time to get your books in order every month, or don't feel comfortable learning how to, it might be better to hire a professional.
What's the Difference Between an Accountant and a Bookkeeper?
The primary difference between an accountant and a bookkeeper lies in their roles and responsibilities. Bookkeepers are responsible for recording and classifying financial transactions, such as purchases, sales, receipts, and payments. Their role is transactional and forms the foundation of a business's financial data. Accountants, on the other hand, provide a higher level of strategic financial oversight. They use the data provided by bookkeepers to generate financial models, perform risk analyses, create tax strategies, and offer recommendations to enhance financial performance and strategic growth. While bookkeepers focus on the day-to-day recording of financial transactions, accountants interpret, analyze, report, and summarize financial data.
How Do I Get Started?
The first step is to reach out to us for a free consultation. We will discuss your needs and create a bookkeeping plan tailored to you. Get in touch today!
What Will the Consultation Be Like?
Our initial consultation will likely be a video call. During this call, we will discuss your current financial situation and/or any business goals. To better understand your specific needs, I will request access to your transactions for the prior three months. After our consultation, I will review your financial information and get back to you with a customized bookkeeping plan tailored to fit your unique needs.
Do I Need to Clean Up My Books Before I Work With You?
You do not need to be concerned about cleaning up your books. We are here to diagnose issues, fix errors, and develop a solid plan for your financial recording.
What Software Do You Use?
I work with QuickBooks Online for my bookkeeping services. It's a user-friendly, cloud-based software that allows you to access your financial information anytime, anywhere, from your phone or computer. QuickBooks Online is known for its ease of use, making it a great choice for small businesses. As your business grows, QuickBooks Online can grow with you, offering additional features and tools. It also integrates seamlessly with other tools you might be using, streamlining your workflow.
Can You Move My Current Data to Quickbooks?
Yes! We can easily move your data and make sure it's a smooth transition to our cloud-based software.
Do You File Taxes?
No, we don’t file taxes. We provide the necessary financial information to your tax professional, such as your CPA, to ensure a smooth and accurate tax filing process.
Can You Replace My CPA?
No, we can’t replace your CPA. However, our bookkeeping services complement their work. While your CPA handles complex tax strategies and filing, we focus on the day-to-day financial operations, ensuring your records are accurate and ready for tax time.
How Can You Help Me With Taxes?
Our bookkeeping services ensure your financial records are accurate and up-to-date, simplifying your tax preparation process and reducing stress. By maintaining organized records, you'll be well-prepared for tax season, minimizing the risk of errors and delays. We can also help you identify and claim legitimate tax deductions, maximizing your tax savings. By maintaining detailed records of your business expenses, we can help you take advantage of deductions, and work with your tax professional to ensure that your taxes are filed accurately and efficiently. By maintaining accurate and up-to-date financial records, our bookkeeping services can help you avoid costly tax penalties. We'll ensure that all your income and expenses are properly categorized and documented, making it easier for your tax professional to file your taxes accurately and on time.
What is Accounts Payable?
Money a company owes to its creditors or suppliers for goods and services purchased on credit.
What is a Balance Sheet?
A financial statement that provides a snapshot of a company's financial position at a specific time, presenting assets, liabilities, and shareholders' equity.
What Does Cash Flow Mean?
The movement of cash into and out of a business over a specific period, categorized into operating, investing, and financing activities.
What is Depreciation?
The systematic allocation of the cost of a tangible asset over its useful life
What is Equity?
Also known as shareholder's equity or net assets, it represents the residual interest in a company's assets after deducting liabilities
What is a Financial Statement?
Formal records that present a company's financial performance and position, including the income statement, balance sheet, statement of cash flows, and statement of changes in equity.
What is Inventory?
Goods a company holds for sale, in production, or anticipation of future use, including raw materials, work-in-progress, and finished goods.
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