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Outsourced Bookkeeping

Your financial records are more than numbers—they’re the foundation of your business. Our outsourced bookkeeping services give you the accuracy and efficiency you need to make informed decisions.

Outsourced Bookkeeping

Your financial records are more than numbers—they’re the foundation of your business. Our outsourced bookkeeping services give you the accuracy and efficiency you need to make informed decisions.

Benefits

Efficient Bookkeeping, Decreased Employee Costs, Decreased Accounting Costs

Costs

What are the Costs?

How Does it Work

How will outsourcing work in your business?

Accounts Payable & Receivables Management

Managing cash flow is critical to the success of any business. We ensure that your payables and receivables are handled accurately and efficiently.

  • Invoice Processing: Receive, review, and input vendor invoices promptly to avoid late fees and missed payments.

  • Payment Scheduling: Ensure timely payments to vendors while optimizing your cash flow.

  • Customer Invoicing: Generate and send invoices to your customers on time to maintain steady cash inflow.

  • Collections Support: Monitor outstanding balances and provide follow-ups to improve collection rates.

  • Expense Auditing: Verify vendor charges to ensure accurate payments and flag inconsistencies.

Bank and Credit Card Reconciliations

Keeping your accounts reconciled is key to financial accuracy and fraud prevention.

  • Monthly Reconciliation: Compare bank and credit card transactions with your financial records to ensure accuracy.

  • Error Identification: Detect discrepancies such as duplicate transactions, missing payments, or unauthorized charges.

  • Fraud Prevention: Identify and address any signs of suspicious activity.

  • Reconciliation Reporting: Provide detailed reconciliation reports that give you visibility into your financial health.

Expense Tracking and Categorization

Proper expense tracking ensures you have a clear picture of where your money is going.

  • Detailed Expense Categorization: Accurately categorize expenses by type (e.g., office supplies, travel, payroll) to ensure precise reporting.

  • Receipt Management: Maintain organized records of receipts to support expense claims and tax preparation.

  • Recurring Expense Monitoring: Track recurring expenses to help you identify areas for cost-saving opportunities.

  • Budget vs. Actual Analysis: Compare your actual expenses against your budget to identify trends and make adjustments.

Payroll Processing

Timely and accurate payroll ensures your team stays motivated and compliant with regulations.

  • Payroll Setup and Maintenance: Configure employee profiles, benefits, tax rates, and direct deposit information.

  • Payroll Processing: Process payroll runs on a regular schedule to ensure employees are paid correctly and on time.

  • Tax Filings: Prepare and file payroll taxes, including federal, state, and local obligations.

  • Year-End Reporting: Generate and distribute W-2s and 1099s for employees and contractors.

  • Compliance Monitoring: Stay updated with changing labor laws and tax regulations to ensure full compliance.

Custom Financial Reporting

We provide reports that give you valuable insights into your business performance.

  • Profit and Loss Statements: Detailed P&L reports that break down revenue and expenses to show your net income.

  • Balance Sheets: Summaries of your assets, liabilities, and equity to show your financial standing at a given point.

  • Cash Flow Reports: Detailed tracking of cash inflows and outflows to help you plan and avoid cash shortages.

  • Key Performance Indicator (KPI) Reports: Tailored reports that highlight critical metrics relevant to your business goals.

  • Customized Dashboards: Visual representations of your financial data, making complex information easier to understand and act on.

What are the ​Benefits of Outsourced Bookkeeping?


Efficient bookkeeping.

A knowledgeable bookkeeper will get your bookkeeping done quickly and efficiently, meaning less time spent on bookkeeping..

Cut Costs & Overhead

The 10 Minute Bookkeeping System will help you cut costs and overhead. In some cases we have saved businesses 63% on their previous costs of a bookkeeper. Not to mention the added cost and impact of employee turnover.

Decreased Employee Costs

You only pay a part-time bookkeeper when they are actually doing bookkeeping. You don't pay benefits to your part-time bookkeeper and you don't incur payroll taxes or the costs of training and turnover.

Better Information

Bookkeeping generates the information you need to manage your company. For example, up-to-date ledger information shows which customers are past due on their accounts or have outstanding balances on lines of credit. Financial reports help you assess whether or not gross profits and expenses are in line with your budget and projected net profits. In other words, these reports help you anticipate and avoid cash-flow problems. 

Decreased Accounting Costs

By increasing the accuracy of your books, an experienced bookkeeper will save you money at tax time.

What do I do today

Good bookkeeping is the first step toward figuring out which 20% of your day is worth doing at all. Almost every owner we meet works 10 hours per day, 2 hours making money and 8 hours being busy.

Standardize

We will flowchart and standardize your workflow. In a great company, the staff have a checklist of what needs to be completed and how you want them done. We will do that for you. These checklists are all online, for on-demand use. This is the dream system Michael Gerber talked about in his book, "The E-Myth".

Eliminate Clean up

Eliminate clean up guaranteed. Your books will never be behind again. No more paying interest and penalties because the books are not getting done.

Real Time Information

All transactions are guaranteed to be either keyed in to the books or work-flowed to you for clarification by five o'clock the next business day. This is much faster than sending them via mail or dropped off once a month at the CPAs office. So now you have mission critical information when you need it, not a month or a year later.

Your CPA will love us!

 When you deliver your books to your CPA, they will be accurate and balanced. It will make their job doing the tax return so much easier, that we have seen some bills slashed up to 40%. Your tax returns are only as good as the books that you give to your CPA.

Eliminate Fraud

Based on our systems, we never touch a deposit, receipt or check. We cannot write ourselves a check or divert deposits into our own account. We will also help you set up internal controls to prevent or spot...

- Employee theft of cash or other assets

-  Check fraud by employees or customers

-  Credit card fraud by customers

-  Many vendor scams

Paperless

Moving paper can easily double the time and cost of doing any back office task. Today all great businesses are paperless. Not being able to find a page can cost the average small business over $125.00 in lost productivity.

Virtual

From anywhere in the world that you have internet access you can look at your books or paperless documents. Most business owners want flexibility and work from several locations, their office, house or hotel. Now you don't need to be in the office to now mind the office.

Borrow Funds

Lenders and investors want to see accurate and complete books for a business before granting loans or raising capital for it. If you rely on outside financing, this is the most important reason to invest time and money in bookkeeping.


Taxes

In order to know how much you owe the IRS, you need an accurate picture of your company's income. In addition, keeping receipts and canceled checks will back up whatever deductions and tax credits your company takes. Without good record keeping, you leave yourself exposed to fines and penalties if you get audited. 

Knowledge & Focus

  • Allow you to Focus on Your Business.  By turning over your bookkeeping to a qualified bookkeeper, you can focus on your expertise: running your business.
  • Provide Useful Feedback.  We know how to structure your books in such a way as to provide the maximum feedback on your business results.

How much Does it cost to outsource your bookkeeping?

Of course that is almost impossible to answer until we see what your business looks like in terms of size, complexity and existing systems, but here are some of the indicators we use to determine your scope of engagement:

  1. If you want to keep your fee as low as possible, we can manage your accounts payable, enter deposits, reconcile the credit cards and bank accounts with a fee as low as $125 a week.
  2. Our full blown service, where we do most everything and provide financial advisory services (like a CFO), can run to $495 a week. (Maybe more if your business is complicated or your sales are over $2,000,000 a year.) Most of our customers are somewhere in between, as they decide what services they want.
  3. A good way to ascertain a ball park figure on pricing is to calculate the fully burdened cost of doing your books in house. (We will show you how to calculate the total burden cost of employees if you need a formula.) In most cases, figure our fee is going to be about half of what it is costing you now. Keep in mind, however, that outsourcing is far more effective if you're looking for "Best Practices" to run a great business, not just trying to shave 100 bucks a week off your overhead.


It will cost less than doing books in-house, even if you do the work yourself, as your time is better spent on sales and staff management.

In about 15 to 20 minutes, I can look at your current bookkeeping processes and give you a very clear idea on the cost of outsourcing.