What is a typical Bookkeeping service?
- Joe Gregor
- 2 days ago
- 3 min read
Accounting and bookkeeping services can come in all shapes and sizes. We avoid a standard service offering because every business has differences in the way the operate and the involvement of the owners. Our monthly accounting and bookkeeping services can include any or all of the following offerings:
Bank and Credit Card transaction Coding - This is the core starting point of bookkeeping, recording your transactional activity in the correct accounts on your balance sheet and income statement. Nearly all of our client engagements include transaction coding.
Reconciliations - This goes hand in hand with coding your transactional activity. Regularly monthly reconciliations are essential to ensuring all transactions have been recorded in your system and any duplicate or missing transactions are identified timely for correction.
Monthly or Quarterly Financial Statement Preparation - While most accounting systems will produce financial statements at the click of a button, a knowledgeable review of that information is essential to ensuring nothing out of the ordinary is happening with your transactional activity. We can also add in a custom KPI analysis to help you keep track of your business metrics over time.
Payroll Processing - One of the most important and deadline driven responsibilities of any business with employees is payroll processing. Ensuring your team is paid timely is essential to building and maintaining confidence in your business' stability. We work with you to gather time worked information for your team and process payroll on the necessary timeline. We can recommend the most cost effective or full service payroll and HR service provider based on your specific structure.
Sales Tax Filing - Sales tax obligations can very greatly by business, especially if operating in multiple states. We help you navigate your filing requirements and can assist with your periodic filing requirements or the recommendation of a third party sales tax provider if you require filing in more than ~10 jurisdictions.
Cash Flow Management - Maximizing the money in your bank account is a balance of receiving customer payments and managing timeline of payroll, credit card payments, vendor payments and owner distributions. We utilize either a shared Excel spreadsheet or third party cash flow software to plan out both short term and long term cash needs to help ensure your money is working for you in the most efficient manner.
Customer Invoicing - Cash flow is paramount to any successful business. We assist with ensuring your invoicing is completed timely based on your contractual agreements or services completed. We also assist with following up on open invoices based on predetermined schedules and narratives.
Vendor payables - As part of your cash flow management service, we manage your accounts payable activities by monitoring an "accounting" email inbox, process your bills through an agreed upon approval process, and schedule your vendor payments based on due dates, discounts offered, and available cash flow.
While the above list are the most common services offered, we can support your accounting needs in many other ways, including audit support, data automation, budgeting, etc.
We work with all of our clients to pick from the items above to customize a service that meets you where you have the greatest accounting need. We operate on a team approach, leveraging the strengths of our internal team and maintaining segregation of duties where necessary and oversight by a licensed CPA.
Contact us today to explore a customized service offering and pricing that fits your budget.
Joe Gregor
407-408-5688
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