Questions Answered About Bookkeeping

What’s the best way to contact you and how often should we be in touch?

We work how you work – you’ll have a dedicated bookkeeper AND a member of our Success Team to reach out to. We always want you to have at least two people to connect with about your books (and our admin team with general questions). For the most part, calls, texts, emails, Marco Polos, etc. will be welcomed throughout the month or you can schedule a set call.

Are you familiar with the unique accounting issues that are involved with running a retail business?

Not only have we served hundreds of small businesses in various industries for well over a decade, we serve over 650 boutiques and pride ourselves in staying up to date with the industry specifics.

How can you help me prepare for (and survive) tax season?

With detailed monthly reports and final year end documents ready to hand off to your CPA, you won’t have to put much thought into tax season at all! We even host your books on our secure cloud so your CPA can log in to view at any time.

Will you be able to advise on which tax credits and deductions we can claim as well as tax if there are any new tax laws you should take advantage of to maximize write-offs?

A small piece of this will be solved by having a customized chart of accounts, but the best solution is to invest in a consulting package where one of our CPA’s can comb through your numbers and update you on the newest laws and best practices for your business. Our bookkeepers do not offer this kind of advice because our CPA team dedicates a great amount of time understanding the laws and knowing what would be best for our clients. In order to keep our services affordable, it is not something we offer across the board, but is one of the next tiers for growth.

What are some considerations I should consult with you about on an ongoing basis?

Each month we will send over a shared Google sheet that we call “Suspense”. These will be items that we’re unsure of and will need to give us some details so we can reconcile correctly and finalize your reports. These could be things such as “cash withdrawal” or “Walmart” and, unless you shoot a text during the month or send over a receipt, we won’t know if you bought hangers for a pop up or snacks for your team. Once we know, we can categorize correctly, you’ll maximize deductions and we’ll be able to give you detailed reporting on where your money is going so you can make better budgeting decisions in the future (as in, maybe those pop ups are costing more that they are worth). Once we get to know your spending habits, your Suspense List will dwindle.

Do you provide support in weighing the financial ramifications of certain decisions, like whether or not to hire an independent contractor or a full-time employee, buy or rent an office space, or rent or lease a company car and much more?

Our CPA consultants would love to look at your specific situation and help you make decisions and set goals. They are wonderful at this and will follow up as needed to help you succeed. Again, check out our consulting page.

How can you help grow my business? 

By knowing your numbers to budget correctly and working with a consultant to reach long term goals, we are equipped to grow with you. We offer levels of services and add-ons so that you’re never having to put things on hold and look for a new team.

 How can you help clamp down on my cash flow?

You’ll be able to keep an eye on this in your reports, but we also recommend Profit First. If you haven’t read the book, we suggest you pick it up (it’s an easy listen on audio). We can discuss this further, but we highly recommend using this method.

Do you provide support in properly projecting my business’s cash flow and help develop an organized, effective cash flow model that allows me to adjust my operations in ways that help us survive shortfalls, as well as improve receivables and manage payables?

Each month we offer a free group Zoom on understanding your reports. This will help you read your reports and gather the info you need to make the adjustments that will help your business succeed. Again, consulting and Profit First, and your investment are all pieces of this puzzle.