Included in the Basic Bookkeeping Package: Every month we will categorize all business-related income and expense transactions and issue you a monthly financial statement consisting of a Balance Sheet and a P&L (Profit and Loss). These cash-basis accounting reports will help you understand your business past to make decisions on your business future. They are required in order to do any tax planning or to fund your business with mid-year loans. Unlimited email and text support are also included.
Not included in the Basic Bookkeeping package: Anything above and beyond cash-basis tracking of income and expense items for the month is not included in the monthly price. However, additional services are available as an add-on to your Basic Bookkeeping Package. These add-ons include accrual basis accounting, detailed financials showing class tracking or job profitability, invoicing, bill payment, payroll, sales tax filing, tax planning and preparation and legal help. Monthly strategy sessions are also available for an additional fee.
How to request additional services: After enrolling in the Basic Bookkeeping Package, you will have an opportunity to review additional services in more detail and select those that suit your business best. You may also request assistance via email at any time. We are here to help.
Statement on Contracts and Letter of Engagement: No contract is required. Payment is required on a monthly basis, through ACH or another agreed-upon method. However, there are no partial month refunds. An engagement letter is required; in fact, these terms and conditions document will act as our official engagement letter. You may be asked to sign future engagement letters via electronic signature for any additional services as well.
Information we will need from you: Our bookkeeping team will need access to your business bank and credit card accounts in order to complete your monthly financials efficiently. Many banks allow for accountants (read-only) access to bank accounts. This access helps us be both affordable and efficient. As we get everything up and running, we will be in more frequent contact to make sure we are categorizing things appropriately.
Keeping in touch: We pride ourselves in being very responsive to our client’s inquiries. Our standard response time (outside of weekends and holidays) is 24 hours. Due to the flexible nature of bookkeeping, many team members will be working outside of regular business hours, but we try to schedule phone calls and meetings withing the standard workweek.
Note on QuickBooks Online: Our strong preference is to use QuickBooks Online with the Basic Bookkeeping Package. Ideally, the Essentials, Plus, or Advanced versions. Simple Start and QB Self Employed are not optimized for an accountant’s use. If you have a current subscription, you are ahead of the game—no need to get another subscription. If you do not currently have a subscription, the onboarding videos will walk you through how to get that setup. We can offer a 50% discount to our new clients for 12 months. This is the best discount you can get with QuickBooks Online. We strongly suggest signing up for Essentials or Plus to start.
About our team: We are Certified QuickBooks Pro-Advisors with years of bookkeeping experience. You can rest assured that you are working with the highest quality professionals. We also belong to a large network of financial professionals so if there is a question we have not seen before; we have a lot of resources in our back pocket to find an answer for you fast.
Important notes for add-on services: Basic Bookkeeping does require the use of your own QBO subscription as noted above. You own the license to that and will retain access to the program upon the termination of our working relationship.
Monthly or One-time Strategy Sessions will be helpful for you if you are needing to brainstorm issues about your business or want to go over the financials in detail. Unlimited email and text support are included in the basic bookkeeping package. We highly suggest that our clients schedule strategy sessions monthly (or at least quarterly) to chat about the financials and discuss plans with your business. It is always nice to have a fresh perspective on things. One-time Strategy Sessions are currently $147 or you can sign up for recurring monthly sessions for $97/month. We appreciate at least a three-month commitment for our monthly rate, but it is not required.
Payroll Setup and Support is provided through Gusto, our payroll partner. All payroll submissions, tax payments, and tax report filings (including year-end reports and W2s) are included in one low monthly fee. The fee varies depending on how many employees your company hires. Our third-party payroll experts take on full responsibility for all timely and accurate tax payments and filings. Our payroll experts can even assist you with HR functions and retirement plans for yourself, partners, and employees. Any payroll service will require an additional engagement letter with our payroll partners.
Sales Tax Filings may be a helpful item to offload. We would be happy to assist with monthly, quarterly or annual filing of your business sales tax returns. You are required to submit the information necessary for us to compile totals and submit online to the various state departments of revenue. We do expect the information to be sent to our team no later than 5 business days before the due date of the return to allow for adequate time to compile and file.
AR and AP management are tasks that can be very time consuming, and we would love to streamline those processes for you. Keeping track of customer and vendor balances, sending out invoices, processing customer and vendor payments, and updating customer and vendor records are some of the items we can do for you. This requires more communication throughout the month and may require additional software subscription costs as well.
Clean-up/Catch-up Work is something that most of our new clients will need to add. You will be required to add this service on for any months that a tax return has not been completed. For example, if you have filed your 2018 tax return already, then we need to complete and/or review your books starting with January 2019 to prepare accurate financials for your upcoming tax return. We give a one-time discount to our new customers for this back work. We are also happy to provide this discount on past years where you think the tax return and/or financials
were inaccurate.
We reserve the right to make changes and additions to the terms and conditions at any time.
