The meat and potatoes of the services I offer. Whether its running accounts payable, accounts receivable, logging transactions or paying your employees, good bookkeeping ensures that cash in and cash out is recorded timely, accurately and reliably.
Services Provided
- Recording transactions within Accounting Software (such as Quickbooks) – Bring your own software or let me acquire and utilize software for you (customer pays for software costs) to record transactions on an agreed upon schedule to ensure that regular financial information can be taken from the system to make business decisions.
- Month End adjusting entries – While most small businesses operate on a cash basis, rather than an accrual basis, it is still best practice to record things like depreciation, amortization and prepaid expenses and unearned revenue on a monthly basis. This provides the most accurate picture of your finances to statement readers.
- Reconciling bank statements – A standard practice to ensure that your accounting information system and bank statements align and identify any issues with what the bank is stating as deposits and what the accounting information system is stating as revenue and expenses
- Management of Accounts Payable and Accounts Receivable – Paying bills and collecting payments from customers. Many small businesses opt to
Cost
Bookkeeping services are priced dynamically because of the large variance in how many transactions a business may have in a given month.
To give the best final price for these services, I use a “trial period” approach. For the first three months, our engagement will be that I will perform the agreed-upon services (including but not limited to the services outlined above) for $50 per hour of actual time spent. This allows me to get an understanding of how much actual time it would take to perform your monthly services once I am familiar with your reporting needs, amount of transactions and difficulty of any additional services you may require.
Most small business owners need a hybrid offering of bookkeeping and accounting services, so this “trial period” allows me to perform your bookkeeping services, while evaluating and making suggestions on what additional accounting services you may require.
For example:
A small but growing retail business with one employee who likes to review the profit and loss at the end of each month and is looking to expand to an online marketspace
Service Package:
- Bookkeeping – All services
- Accounting – Payroll BiWeekly, Financial Statement Compilation
- CFO Services – Ongoing contract at 1 hour/month
Your needs will vary, which is why my approach is to offer a standard set of services that can be customized to fit your needs. Your engagement letter will detail what services you are paying for and how much they are costing you.
In need of these services but would rather be taught how to do them yourself? Explore Consulting Services instead.