How many hats do you wear in your small business? Too many to count? Imagine – what if one of those hats could change so much that your life was less stressful, you were able to make strategy level decisions and gain peace of mind? Sounds like a great lever to pull.
That lever? Hire a virtual bookkeeper. A bookkeeper that cares as much about your business as you do. A bookkeeper that not only performs the transactional updates and ensures that everything is classified correctly, but provides accurate reporting and analysis. This is critical to understanding your business, with the help of a bookkeeper to perform in depth analysis where it makes sense and provide reporting that supports both day to day and strategy level decisions.
A bookkeeper is an additional set of eyes on your financial processes to help identify potential gaps and keep you informed of potential opportunities.
Why You Need a Bookkeeper.
My Instagram Feed – Mini blog posts to learn more about BOOKKEEPING! Yessss.
With a few quotes and networking coffee pics mixed in to break up all the fun.
What you can expect from Bookkeeping By Rine:
Classify & Record Transactions
Enter and accurately classify bank, loan, credit card, and miscellaneous transactions into your bookkeeping software. The goal is to customize your accounts to accurately represent your business and provide the information that you need to understand your performance. This may mean changes or updates to enable accurate reporting.
Account Reconciliation
Reconcile what has been input throughout the month with the bank records to verify that they are in agreement. This includes making the necessary adjustments so they have the same balance to reflect exactly what is happening in your business.
Produce Financial Statements / Additional Reporting
This process starts with reviewing draft financial statements for accuracy and analysis. Once complete pull the final reports for your review. The primary monthly reporting includes the Balance Sheet, the Income (Profit/Loss) Statement , and the Statement of Cash Flows. At a minimum you will want to review these reports on a regular basis. Additional reporting is available based upon the business needs.
Communication
At a minimum every month we will have a discussion on what transpired during the month. It is a bookkeepers job to interpret the numbers to present them to you in an understandable format. This includes spotting any trends or potential opportunities. Explaining any questions or concerns that you see in the reporting. The more that you understand the more you will be able to take positive action. Additionally throughout the month if any questions arise we will communicate as necessary to resolve any open items.
Another primary aspect of communication is being the translator of your financial to CPA’s/EA’s (If you authorize us to do so). We have in depth knowledge of what has gone into the recording and classification of every transactions. We are your experts in this area.
Available Additional Services:
Accounts Receivable & Accounts Payable
Accounts Receivable – helping you invoice, collect and track the money that you are owed.
Accounts Payable – helping you manage/record your bills and monitor their due dates/status.
NOTE: All bills will be paid by the business owner. This is a key control in ensuring that your money is going where you are expecting it to go.
Planning (Budgeting) & Benchmarking
Failing to plan = planning to fail. It’s true, winging it on one of the most important keys to financial success is not a plan. Plus planning can be fun, a game of sorts. We will help create and monitor the plan along with performing variance analysis.
Benchmarking – Here is another way to gamify your business. After completing the analysis, you get to see if you are above or below your industry standards and then decide what you want to do about it. Like make a plan for change.
Well, Those are the Big Parts
It may seem simple, and there is perfection in simplicity. Having well managed and accurate books is a recipe for success. Are you ready for your free consultation? If so, complete the simple contact form and we can determine if we are the right fit for your business needs. Free Consultation
