What You Need to Know about Our Outsourced Bookkeeping System
It is a simple, internet based bookkeeping system
QuickBooks is used as the accounting software program
We provide the bookkeeper but you have daily access to this person
The data you send daily is entered each night so your books are up-to-date
We replace the internal bookkeeper providing you with fewer errors and fewer hassles
We provide Business Coaching so you are more profitable
Our outsourced bookkeeping can be used by any company, anywhere in the United States
We welcome any questions or comments you may have.
Tax time is here! Have you been recording your income and expenses and getting it ready for the tax preparer? Or do you have a shoebox full of receipts in no particular order and need help putting it together for tax preparation? The problem with the shoebox method is that all the work of preparing for the income tax man is put off until it is almost too late to get it ready in time. I have some suggestions to help with that.
Get organized. My recommendation is that you segregate how you spend your money. Have separate bank and credit card accounts that only are used for business expenses. This is a great first step in keeping business income and expenses separated and easier to accumulate into tax numbers.
Develop a place to accumulate receipts. This could be an envelope you keep in your truck that you put all your receipts in. It could also be a plastic container with a tight snap on lid. If you don’t have your bank and credit card statements mailed to you, print them off the internet and throw in with the receipts. It is much easier to get the information together as you go than all at the end of the year.
Get help. Find someone who knows how to put financial information together and hire them. This could be a bookkeeper, accounting firm or your Aunt Georgia. This is money well spent because the problems of unfiled or incorrectly filed tax returns can dog you for years.
Send the information in every month. If you wait until the end of the year to get your information together, it will be much harder on you and whoever you have helping you with the bookkeeping and taxes. A little each month is much better than a lot at the end of the year. Even quarterly is better than once a year. Empty that information into a Fedex package and ship it to your helper.
Finally, if you are totally unsure what to do, go to step 3. right now. A financial professional can help you begin to put everything into order. Now is the time to get it done.
Shoebox Accounting is here from Online Bookkeeping,Inc.
Online Bookkeeping, Inc. has created a new process for working with small businesses and individuals. We call it “Shoebox Accounting” and here is how it works:
We collect your transaction information on a monthly or quarterly business. We expect that you will dump the shoebox of receipts and bank/credit card statements into an envelope and ship to us or scan/email to us (We have a system for either one!)
We enter the information based on a Chart of Accounts created especially for your business (Or we will use the one you like.)
We return originals along with access to summaries of expenses and income.
Simple. Need payroll? We can do that too. Want to have access to your information online? No problem. We even provide an accountant you can work with to track your information and make sense of the numbers. We even have a CPA tax preparer in-house if you want us to whip up those state and federal income tax returns.