Frequently Asked Questions

No, I will not have (nor do I want!) direct access to or control of your accounts. You can either link them to QuickBooks for automatic transaction data downloads, or else you can send me the monthly statements as PDF files for me to manually enter the transactions, whichever you are most comfortable with. An alternative is to give me view-only access that for some banks allows your accountant to download necessary monthly statements so you don't have to remember to send them.

After our contract is signed, I will assist you with securely connecting your relevant financial accounts to QuickBooks, if that is the method you choose.

I will then categorize your transactions, reconcile your accounts, and produce your financial statements. I may make adjustments to your books to ensure accuracy; every action is automatically recorded. 

Occasionally, I might need further information from you in order to categorize a transaction properly, but generally, I do my best to keep bookkeeping as hands-off as possible for you.

You can also send me a message whenever you'd like. I'll usually respond to clients within one business day, excluding weekends and holidays. There's no extra fee for support—I'm always happy to help.

When money comes in to your business (or is expected), or when money goes out, those transactions must be properly categorized in particular income or expense accounts on your financial statement. Some of them are very straightforward, like if you purchase fuel for a work vehicle, while others require a little extra attention, such as purchasing the work vehicle itself, which may require special accounts to be created on your financial statements for the car loan and related payments or for depreciation purposes. It's important to keep transactions organized as they happen throughout the year; trying to remember or piece together a year's worth of information at tax time is daunting!

Reconciliation means that nothing is missing and everything is accounted for in your business books. 

In other words, I will use your bank, loan, and/or credit card statements to ensure that all transactions are appropriately recorded in your business's monthly financial statements. 

When accounts are reconciled, that means that there aren't any discrepancies between your bank/loan/credit card accounts and your financials. Everything matches!

Financial statements include multiple reports that show the financial health of your business. 

The Profit and Loss (P&L) statement will show your revenue (money earned) and expenses (money spent). The difference between the two is your profit (the money you have left over) or your loss (the money you've overspent).

The Balance Sheet shows your business's assets (positive things that benefit your business, like cash in the bank) and its liabilities (like loans you owe). Ultimately, it can show the overall value of your business.

Between these two reports, you can make informed decisions—for example, pricing your services or making purchases.

No. But I will ensure that your payroll data is appropriately recorded in your financials.

No. But I will create and send out your 1099 forms, if that is part of our contract.

No. If electronic invoicing is a contracted service you choose, I will send the initial invoice, schedule automatic email reminders in the accounting software, and periodically send you an unpaid invoices report, but I will not otherwise contact your clients or customers for payment. Please see my Communication Policy below for further information.