General Bookkeeping
Effective business management is all about using financial data to drive decision-making. Financial data is developed through bookkeeping. Bookkeeping is the process of tracking your business assets, liabilities, income and expenses to help you make smart, informed business decisions. This is an ongoing process that should ideally be performed monthly.
Our bookkeeping service will produce useful, accurate data that will provide insight in to the overall financial health of your business, identify potential problem areas, and support strategic growth planning.
Our bookkeeping service is designed to make managing and growing your business easier. We will assign a bookkeeper that will become intimately familiar with the finances associated with your business. You won’t speak with someone different every time you contact us. You and your personal bookkeeper will operate on a first name basis with a shared goal of financial health and growth for your business.
Our bookkeeping service consists of 4 steps:
Data Entry: Collect your financial records and data enter them into our bookkeeping software.
Reconciliation: Reconcile your accounts to ensure that they are accurate.
Reporting: Consolidate your books and prepare your financial statements. The financial statements include income statements and balance sheets.
Use Insights: Help you understand your reports and financial information to make informed decisions.
What Makes Our Bookkeeping Service Unique?
The advisory component of our bookkeeping service is what makes us unique. We don’t just send you reports every month. Numbers are useless if you don’t know how to use them. Your Bookkeeper and Senior Accountant will analyze your financial statements, identify areas that may need improvement, and when possible provide suggestions for improvement.
Metrics That Are Critical To Your Small Business
Our certified bookkeepers will help you understand your:
Profit Margins: Is your small business profitable?
Return on Equity: Are your shareholders making a return on their investment?
Receivables Turnover: Is your small business collecting money that is owed?
Payables Turnover: Is your small business paying its debts?
Current Ratio: Does your small business have enough cash to cover expenses/debt?
Why Use Outsourced Bookkeeping Services?
Get Your Time Back
Our outsourced bookkeeping services save you time. Many small business owners try to manage their own books. There is a huge opportunity cost associated with this. The time you spend bookkeeping subtracts from the time you could invest in growing your small business. Outsourced bookkeeping services free up this time so you can focus on business growth.
Save Money
Outsourced bookkeeping services save money. Full-time bookkeepers cost an average of $35,000-$40,000/year. Outsourced bookkeeping services can cost as low as $2,500/year. Outsourcing your bookkeeping can save your small business significant capital that can be spent towards growing your business.