At your first meeting , your bookkeeper will ask you questions to find out more about the financial transactions that occur in your business, their nature and their volume. For instance , he may ask, “How many deposits do you make a month? ” or “How do you keep track of inventory?” He or she will also want to ask about your knowledge in bookkeeping and whether there are aspects of your accounting needs that you would like to do yourself or have done by your staff . These questions will help your bookkeeper tailor their services to your needs and charge you a fair price.
Your bookkeeper can help you set up an organized bookkeeping filing system to help you keep your financial data organized . This system may be a file box with various folders and forms in it. Or, your bookkeeper may recommend an invoicing computer program to supplement your system. As you generate transactions through deposits and invoices, you will respectively sort your papers in your bookkeeping filing system as your bookkeeper will instruct. Then, at regularly scheduled intervals , whether weekly or monthly, your bookkeeper will go over the information and enter it into his accounting software. After the end of the month, your bookkeeper will create two important financial documents, your balance sheet and income statement.
Your bookkeeper can do all or part of your bookkeeping . If want to save some money, your bookkeeper can teach you how to fill out a simple bookkeeping journal worksheet, called a daily or weekly cash report. A cash report is an organized detailed report of money in and money out for a given time interval . For example , your cash report may list your purchases, including how you paid for them and in what category they belong, with your receipts attached to the report. This report, along with the supporting documentation, will help the bookkeeper work more efficiently and therefore, may lower your bookkeeping fees. Other business owners would rather have the bookkeeper process all the journal , in which case, his or her bookkeeping price would be higher in exchange for the convenience of total bookkeeping services.
Outsourcing payroll can lift a big burden off of a business owner. Instead of doing all the payroll from scratch, your bookkeeper may suggest that you register with a payroll processing company, in which she will oversee for a small fee. For example, some banks, such as SunTrust and Bank of America, have robust and simple payroll processing services that provide the added convenience of automatic government notification and tax document generation. Your bookkeeper can save you money by pointing you to these convenient services, which will make his or her job easier at a fraction of the cost it would be if they had to do all the payroll from scratch. You may discover the services self-explanatory enough that you can do your own payroll!
Your bookkeeper can fulfill your accounting needs as a local or remote provider . In fact, your bookkeeper can do your books from another state away, thanks to modern communication tools that you probably use already . How do you get them your information, you might ask? Copy and mail, scan and email, or fax - It’s that simple . Your bookkeeper will stay in touch by email and phone. If you prefer to have a local bookkeeper, your outsource bookkeeper can either come by your office to do bookkeeping or pick up and drop off the bookkeeping file box while fulfilling your accounting needs at his or her office. Either way, your bookkeeper can work out a simple system for the both of you.
By hiring a freelance bookkeeper, you can nail down a predictable monthly flat fee for her professional services while avoiding the many expenses that arise from employing a bookkeeper, like software, office space, payroll taxes and benefits, training time, etc. For small businesses, the answer is pretty obvious that outsource accounting is smart , simple to implement, and cost effective. Stivers Business Solutions offers small businesses a variety of outsource bookeeping solutions.