Frequently Asked Questions
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What is bookkeeping?
What is bookkeeping?
Bookkeeping is the practice of systematically recording and organizing all financial transactions.
What are the best ways for small businesses to use bookkeeping?
What are the best ways for small businesses to use bookkeeping?
Small businesses should find an accounting system (like QuickBooks Online, Xero, or AccountEdge) that works for their industry, business size, etc. I can help you with that! Then they should use the system to establish the Chart of Accounts, documenting transactions, reconciling bank statements, etc.
How much do you charge?
How much do you charge?
I like to use a flat monthly rate pricing system. This way, you know exactly what you’re paying. Additionally, this system protects you from being penalized if a certain month takes longer than usual, and it also shields me from being punished if I’m extra efficient in a particular month. The fee will depend upon various factors. These might include: the size of your business, how many accounts there are to be reconciled each month, how many transactions in each account, and if you need me to provide additional accounting services like accounts receivable, collections, accounts payable, etc. My monthly rates start at $500 per month and cap at $3,000 per month.
I accept PayPal and ACH (automated clearing house), both of which include a 3% processing fee.
What does a bookkeeper need from their clients?
What does a bookkeeper need from their clients?
To start your bookkeeping journey with me, I would need access to your accounting system. I like to start my clients who have established businesses with a diagnostic of their accounting system to see where it may be costing them money. I can then provide a cleanup of your bookkeeping for either the last 6 months or the last year, depending on your preference and my diagnostic results.
What records do you need from my small business each month?
What records do you need from my small business each month?
In addition to access to your accounting system, each month I will also need either a copy of each bank, credit card, and loan statement or access to each of those web portals to reconcile the accounts. I will also need receipts for all expenses to properly document the transactions in your accounting system.
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