Q. How does Virtual Bookkeeping service work?

A. Depending on the schedule that you choose for the books to be updated, we can perform the bookkeeping services daily, weekly, twice monthly, monthly, quarterly, and annually. Whenever our scheduled time occurs, the day before the deadline to turn in documents that relate to the bookkeeping; bills, checks are written, etc. During this update day, we will also perform any other tasks that may be due to process; online banking activity, payroll, paying bills, and reconciliations. We have many clients that don’t provide any documents, we can access the banking and credit card accounts online. This allows the bookkeeper to grab statements, look up check images, deposit details and be able to fill in a lot of the missing details without having to ask the client for all the information. If you don’t feel comfortable with that, we will rely on you to provide all the information. You should also check with your bank, many these days allow for view-only access where we are assigned our own login.

Q. How much does a virtual bookkeeper service cost?

A. Our bookkeeping services costs depend on the frequency of the services performed, transactional activity and/or the level of activity, and the complexity of the account

Q. What is the difference between Invoices & Sales Receipts?

A. Invoices are for future payments and/or multiple payments. Sales Receipts are to capture instant one-time sales.

Q. Are taxes included in the bookkeeping services?

A. We do not do taxes or give tax advice. We do track 1099 payments throughout the year. We compile and process 1099's every January to IRS. You must collect W-9 forms from your vendors prior to initial payments and turn them in to us during the year.

Q. What accounting software do you work with?

A. Our team work with QuickBooks Pro, Premier, Enterprise, Desktop, and QuickBooks Online. We do not, at this time, work with QuickBooks Self-Employed or any other accounting platform that is not QuickBooks.

Q. What is the difference between Accrual and Cash Bookkeeping?

A. Cash bookkeeping only tracks when money enters or leaves a bank account. Accrualbookkeeping is more sophisticated approach that records when the money was earned or owed. Most larger companies use Accrual.

Q. Will You File my payroll taxes?

A. Please hire a third-party payroll service for your payroll and filing taxes. It is the most cost-effective solution for our clients. They are the experts and charge you one low flat fee per month based on how many employees you have. We will enter payroll and reconcile the books to the payroll reports.

Q. Is support included and can I ask questions?

Q. What is your cancellation policy? What if I prepaid for the year?

Q. Are there any one–time fees when I sign up for your services?

Q. What is the difference between a bookkeeper and an accountant?

A. Contrary to popular belief, accountants and bookkeepers perform distinctly different tasks for the businesses they serve.

Bookkeepers record and organize financial data while accountants analyze, interpret, and summarize financial information. They often work together on the same set of data, with bookkeepers gathering the most relevant data and working to make that information accessible to accountants.

An accountant might consult with a bookkeeper to clarify financial records or gain additional insight into daily expenses. They share the same goal of supporting a business or individual's financial health through accurate and well-organized information, but they usually work with different steps in the financial management process.

Q.Do I need to clean up my books before I hand them over?

A. No. Cleanup services will be included in our initial work estimate.

Q. What if I need services outside the scope of the agreement?

A. Our hourly rate may apply depending on the situation.