Frequently Asked Questions
What Businesses do you typically work with?
We ideally work with small SERVICE based businesses, such as Salons, Barber shops, and Estheticians. We also work with Preschools,Daycares and Tutors. Another group we work with are electricians, contractors, Heating/AC technicians, Landscapers and other home maintenance businesses. See Services for more info
Why is it so important to have accurate books?
First of all having accurate up-to-date books will help you, as the business owner, to make good financial decisions since you will see where your money is going and how much is coming in at any time. Plus, the monthly reports will help you see if your business is growing or not and what areas you may need to change to increase your cash flow. These reports will help you know if you need to make changes to your current business model or pricing.
Second of all, having accurate books will help you when preparing taxes so that you will get the maximum deductions allowed for our business since you will know all your expenses and transactions were recorded properly and nothing was left out. Accurate books = More money in your pocket
How much do you charge?
We based our flat monthly fee based on how much work is involved working with your books. Typically we base the price on the number of transactions your business does each month.
If you have a Clean up or Catch up job, then we will also look at how much work will be involved and base the price on several factors based on the conditions of your books. That is why we provide a QBO Diagnostic checkup before we begin work. Then we will let you know how much the job will cost and send you a proposal so that we are all on the same page before we begin the work. See Services for more info
When is payment due?
For ongoing monthly services, we require payment at the beginning of each month that is setup as a recurring payment from ACH or credit card. For clean-up and catch-up work, we require half down before work can be started, then once the work is complete, the final payment is made.
What will I need to do to get started working with you?
First we will get to know each other with a quick phone call to see if we would be a good fit for eachother and to see what your bookkeeping needs are. Then we will do a QuickBooks Diagnostic Checkup to see the current state of your books. This allows us to see how much work will be required to get your books updated, caught up or cleaned up. Once we review your books, then we can send out a written engagement agreement with a quote for you to sign. See How It Works for more info
Do I have to commit to a yearly contract?
No, we are not in a committed relationship :) Either party can cancel at any time with a 15 day notice. The engagement letter is basically setting up a payment agreement and listing the services that we will provide for you, so that we both know what is expected of them.
Do we own the QuickBooks file ?
Yes, you own your Quickbooks Online file. That is the beauty of using Quickbooks Online is you can access your file at anytime and anywhere as long as you continue your subscription to QuickBooks online. Even if you stop using our bookkeeping services, we can transfer ownership and you can take your QBO subscription with you if you decide to do so.
How Do I get my Sensitive Documents to you securely?
As a client, we give you access to our safe and secure online portal that you can access via your phone or your computer. It's an all-in-one app where we will communicate and send and store important documents in your own portal. Very convenient and easy to use.
How do you access my Bank and Credit Card Records?
It is for your convenience to save time and hassle, we would ask that you give us VIEW only access to your bank and credit cards so that we can get all the transactions and statements each month. This allows us to not have to wait on you to send them to us and your reports will be done on time each month. Please note: we will NEVER have access to deposit or remove any money from your accounts with VIEW/READ only access. However, if you prefer, you can send us your statements and transactions each month via the secure portal.
What are the services you offer?
Welcome Bookkeeping provides services for basic bookkeeping like keeping all records updated and accounts reconciled. We provide monthly reports and year end reports that are tax ready to give to your CPA for Tax prep. We can advise on document storage and organization, however we are not responsible for long term storage of your financial records. The business owner is responsible for saving their financial documents on their own. Please keep in mind that we do NOT provide any financial or tax advisory services. At this time, we do not offer services for the following: sending invoices, paying bills, or management of inventory, accounts receivable, or accounts payable, sales tax services, creating or sending 1099's or management of payroll.
What's the difference between a Bookkeeper and an Accountant?
A bookkeeper is the person that records and classifies all your daily business transactions and prepares reports for monthly and yearly reviews. These important financial reports are what your Accountant uses to be able to prepare and file your business's taxes at year end. The accountant analyzes the financial data and is legally able to advise on tax matters.