Frequently Asked Questions About Bookkeeping
An experienced bookkeeper can assist with maintaining healthy books, enhancing cash flow, and improving profitability.
However, when it comes to bookkeeping, there are a ton of questions clients have but often find answers difficult to come by.
Therefore, Indie Bookkeeping wants to arm you with the most accurate information available to help you make informed decisions. To do this, we’ve answered some of the most frequently asked questions about bookkeeping.
1. Why do I need a bookkeeper, especially if I already have an accountant?
A bookkeeper and an accountant do very different things for your business, but their work is complementary to each other.
A bookkeeper will compile and categorize your data, review and reconcile your general ledger to make sure everything is accurate, and generate financial statements that are useful to you and your accountant.
Working with a bookkeeper will make your accountant’s job easier and allow them more time to analyze the information and provide you with accurate advice. A bookkeeper can then take that advice and guide you on the best ways to implement it for your business.
2. Should a bookkeeper be local to my business?
While some people might appreciate meeting with their bookkeeper face-to-face, today’s technologies allow for a completely remote experience. Most accounting software is Cloud-based, and clients can use email or mobile apps to send receipts and other documents to their bookkeeper. Communication via email or video call is all that is needed to keep things running. It means that you can look for a bookkeeper that you feel comfortable with and is familiar with your industry, instead of being restricted to choosing someone that operates conveniently in your city.
3. I’ve never used a bookkeeper before. What do I need to prepare for them?
To set up your file, a bookkeeper will need many documents from you. They will need to gather information about your business (We have a questionnaire we send to all new clients to collect this information). They will need documentation of your expenses and income. They may also request additional paperwork to track expenses for a home office setup or to account for your vehicle.
4. How much can I expect to pay for bookkeeping services?
This answer will vary depending on what kinds of services you need and the bookkeeper’s experience.
We will work with you to determine the appropriate services for your business, and charge a flat monthly fee to provide them.
5. What types of services do you offer?
We offer a comprehensive range of services to help businesses of all sizes.
It includes:
- Data entry into Excel or Quickbooks (expenses and income)
- Full-cycle bookkeeping (including AR and AP tracking and account reconciliations)
- Financial reports
- Payroll services
- Tax preparation to submit to your accountant
We hope these answers made you feel more confident about working with a bookkeeper.
If you have any more questions about bookkeeping, get in touch with the experts at Indie Bookkeeping.
As the best bookkeeper in Ajax, Ontario, we provide financial analysis, tax preparation, payroll, data entry, bank reconciliations, bookkeeping reports, and much more.
We serve clients across Ajax, Durham Region, GTA, and the surrounding areas.
To learn more about how we can help you, please click here or contact us by clicking here.