Hopefully you already know, you are required to keep accurate financial records for tax reporting purposes. Bookkeeping starts with a very simple set of tasks: Essentially, a bookkeeper should be tracking your income and expenses. While there are some generally accepted principles by which all bookkeepers should operate, there is no official exam or license in Washington. Accountants are licensed and tested, but bookkeepers are not. While licensing doesn't mean everyone does things the same, a lack of licensing means bookkeeping services can vary widely.
Full Charge Bookkeepers RoleWhile some bookkeepers simply enter transactions and help keep you organized, a full charge bookkeeper also prepares financial statements, files returns, and works hand-in-hand with your accountant.
The Accountant vs The bookkeeper Consider them to be your financial management team. Your bookkeeper can subjectively choose to put debits or credits in a variety of categories. Since your accountant is the one who is responsible for saving you the most money at tax time, you want to be sure your bookkeeper is putting items in the correct category. That's why we work closely with your accountant to make sure your accounting records are set up to take maximum advantage of applicable state and federal tax laws.
Collecting on outstanding invoices In some circumstances, bookkeepers will send out invoices for payments that are due, but it's the rarity when the bookkeeper has experience collecting money and making payment arrangements with your clients. We have over a decade of experience in this arena and have both automated and personalized solutions to quickly collect on outstanding invoices, many of which our clients didn't even know they had.
Double Billing or payment to improper parties Vendors make mistakes. Sometimes they change names or miss payments you've sent to them. There are also unscrupulous folks out there who send invoices for services you never authorized, like yellow page listings. We offer as an added service, to bring your billing, invoicing, and vendor payments into 100% integrity. Best of all, we do this on a contingency basis, so the time we spend costs you nothing.
BE PART OF OUR COMMUNITY: Business ownership can be a lonely venture. As a service to entrepreneurs in our community and because of our commitment to support local business, we have the only business owners insight group in Washington. We meet twice a week for time to reflect and develop ourselves as business owners. If you'd like to be part of our community, please Contact Us..