Bookkeeping expertise. The Importance of Cash Management-A Planning Tool for Small Business.

Bookkeeping Expertise

Bookkeeping Services – Some Examples

  • Categorize and separate accounts by activity – Chart of Accounts – To give Clients a customized, easily understood list
  • Complex and difficult reconciliations for Business compliance
  • Error correction and reclassification of transactions
  • Inventory clean-up; practical processes and procedures
  • Matching transactions to avoid duplicate entries and overstatements/understatements of Accounts
  • Multi-year (involved) QuickBooks clean-up, maintenance and set-up

Accounting vs. Bookkeeping – Not Relevant to Small Businesses Trying to Solve Problems

Accounting is not bookkeeping and vice versa. So what. Clients don’t care – they have problems to solve and they expect that an outsourced Accountant (or Bookkeeper) has the experience and expertise to solve whatever problem the Client has. And, the Client is correct. But the reality is Clients assume that Accountants are (also) highly proficient Bookkeepers, but that may not be the case. It’s like saying, “I’m a great Formula-1 Race Car Driver, but I know nothing about Cars.” Accountants/Bookkeepers need expertise in Bookkeeping/Accounting. Even highly proficient Bookkeepers can create problems for a business’s financial records if they’re not familiar with accounting principles, let alone more complex transactions that may require some research.

For the Client, if you’re planning to outsource your Accounting/Bookkeeping work, ask questions and check the would-be Accountant’s profiles and reviews (on Facebook, Google, or LinkedIn). 

Having and maintaining good records (that tie to your source data) is the fundamental basis toward understanding how your business is performing. Accurate and relevant data also enables you to make better quality decisions. Without accurate data and records, you’ll be guessing, at best and throwing salt over your left shoulder for luck. Keep your salt for cooking.

Skeptical? We Get it. Check out our Owner and Principal’s Bio.

Knowing the Financial and Tax Result of Transactions (Before Doing the Transaction) is a Good Thing

We have the foresight and understanding to advise Clients on the accounting and tax implications of certain transactions before they’re executed. Should you elect a Section 179 deduction for some equipment and write the entire purchase price off or take the depreciation deductions over time if the business is expected to perform better or worse in out-years?

As the Client, you may not care or want to defer to the judgement of your Accountant on what to do. But, ask yourself – how well does my Accountant understand my business so that I’m comfortable that the best decision(s) will be made? 

Our Bookkeeping Expertise

Bookkeeping may not be sexy – it takes time to properly characterize transactions, reconcile accounts, adjust entries and establish charts of accounts. But, Bookkeeping is fundamentally important. Without good records and Accounting, you literally cannot trust your financials. What are you going to use for a Tax Return if you “cut corners” on having solid records? Pretty risky.

I’ve helped clients understand the importance of using QuickBooks workflow processes and the problems that are created when these processes are bypassed or used in ways, not intended. I’ve resolved erroneous or duplicate entries and corrected books/records for many Clients to preserve their historical data without starting from scratch with a new file. 

Does Your Data/Records Require a Major Overhaul or is it a Maintenance/Repair Job?

No problem. We can handle the most complex, multi-year tasks or minor “repairs.”

Book a call, email usor use our contact form on our Contact Page.

We offer service plan options. Please see our Engagements Page for more detail.

Accounting Services
Regarding Accounting, Business Clients have many needs, but two overarching requirements - That their records comply (Financial Accounting) and reports to help them make informed, relevant decisions (Managerial Accounting) for their business. We can help with both.
Accounting Services
Advisory Services
We provide expertise to Business Clients in addition to Accounting, Bookkeeping and Tax-related services. Our approach is to integrate our services so we become your "one-stop shop," for accounting, tax or advice. Review our Advisory Page and contact us so you can decide for yourself.
Advisory Services
Bookkeeping Expertise
Bookkeeping is the process of inputting, classifying, error correction and maintaining accounting records. Understated or overstated accounts? QuickBooks workflow issues? Problems, involving one year or several years, large or small, simple or complex, we can help.
Bookkeeping Expertise
Tax Services
Whether it's Tax Planning, Tax Preparation, or Tax Resolution, small businesses need help navigating the complexities of the tax code. If you have tax debt, levies, liens, unfiled returns, or questions on how to minimize your tax liability, contact us so we can recommend the best options/solutions.
Tax Services