Whether you are a sole proprietor, a large corporation, or a nonprofit organization, having your books in order is essential to the health of your business. Not only does it give you the information you need to make many important business decisions, it also makes it easier to apply for business loans, attract investors, sell your business, etc.
Cooke, Lavender, Massey, & Company, PC offers a variety of bookkeeping options to fit the unique needs of entities both large and small.
What our bookkeeping services include
Bookkeeping services help maintain your entity’s financial records. Our bookkeepers track payables and receivables and ensure all the financial transactions are documented correctly. We also reconcile bank statements to your accounting system to make sure everything is accurate. This is especially helpful for tax preparation and in the event of an internal or external audit.
Our bookkeepers will send monthly, quarterly, or annual reports depending on your needs and preferences. Opting to have monthly bookkeeping reports makes it easier to identify and reconcile mistakes quickly.
Our team can also provide bookkeeping and accounting documentation in the event of a significant financial decision in which updated financial records are helpful or required.
Difference between bookkeeping and accounting services
Bookkeeping services focus on identifying, recording, and reconciling financial records to make sure everything is recorded accurately. Accounting is the process of summarizing and interpreting the financial records.
Bookkeeping and accounting services are merging, especially aided by the advancement of accounting software. However, it is still critical to ensure that your records are accurate and orderly, and accounting services are essential for many business decisions and processes.
Benefits of bookkeeping services
Bookkeeping services help you create and maintain a consistent financial process for tracking and reporting information accurately in your entity. Quality bookkeeping services improve the overall health of your company or organization and help protect you from potentially costly mistakes, fees, and penalties.
Hiring a bookkeeper can help you grow your business. Instead of devoting valuable time and energy to accounting, hiring a bookkeeper allows you to focus on working on other areas of your business. Outsourcing your bookkeeping also improves the accuracy of your records helping you make real-time decisions using accurate financial information. Accurate bookkeeping can also significantly reduce tax preparation fees.
Benefits of accounting services
Accountants use the information gathered from bookkeepers to summarize and interpret the financial condition of a business. Management can use that information to make critical business decisions. If your business is applying for a loan, bringing on investors, or making other significant financial decisions, accurate financial records will help make the process easier.
Bookkeeping Frequently Asked Questions
How much do bookkeeping services cost?
The cost of bookkeeping services is based on how much time it takes our bookkeepers to reconcile your accounts, how many transactions your business processes, and how organized your records are when we receive them.
Online software like Quickbooks can make it easier for stakeholders to keep more accurate financial records and improve the bookkeeping process.
What documents do bookkeepers need, and how do I deliver the information to you?
During our initial set-up phase, we will establish a way for our bookkeepers to have access to your bank and credit card statements, invoices, deposit slips, and other bookkeeping records.
In most cases, it is easy to access this information online, though some people prefer to deliver it in person or via other methods. If you use online bookkeeping software like Quickbooks, it is easy to provide our accountants with access to these records.
Do you offer help with Quickbooks?
We have a Quickbooks-certified expert who can help our customers set up new Quickbooks accounts, provide specific training, or answer questions you might have.
Using Quickbooks or similar accounting software can dramatically improve the bookkeeping process and may even reduce the cost of bookkeeping services.
Quickbooks ProAdvisor Dianne Hall
Quickbooks Pro Advisor Amy Rumley
Things to Consider When Hiring a Bookkeeper
Regardless of whether you use our firm or someone else to help with your bookkeeping, there are a few things you should consider first, including the questions listed below.
How familiar is your bookkeeper with your industry?
Ask your bookkeeper if they have other clients in a similar industry or line of work as you (past or present).
Your bookkeeper doesn't need to know all of the intricacies of your business or industry. However, if they are very unfamiliar with your line of work, there may be a steeper learning curve while they become familiar with you, your business, and your industry. A bookkeeper who is familiar with your line of work will understand common issues that may arise and know how to resolve them.
How organized and accurate are my financial records?
Before hiring a bookkeeper, answer this question honestly. Many small businesses struggle to maintain accurate and organized financial records because it is challenging to stay on top of administrative tasks. Hiring a bookkeeper is an easy and affordable way to ensure your financial records are accurate and to allow you to focus on the parts of your business that you enjoy.