With our excellent firsthand experience, you and your team will be Quickbooks experts in no time. Even the most meticulous business owners can make the occasional mistake in their bookkeeping. Monthly bank reconciliations allow you to track any discrepancies in your financial records and identify the cause. You can also spot any fraudulent activity before it causes serious damage to your business. Keep on top of evolving legislation, track relevant data and information and stay compliant with sometimes confusing reporting requirements through BDO’s accounting and bookkeeping services.

You may identify product lines (or services) that are losing money, or spot growth opportunities that aren’t being explored. Bookkeepers are in a great position to see patterns in the finances of a business. An accountant is responsible for offering strategic financial advice in addition to being aware of the company’s financial situation. You give it your time, expertise, and ideas, you market your products and services and hire qualified employees, you design benefits packages, maintain insurance, and have a dedicated space. Having visibility of accurate financial statements also will set a company up for future growth.

Bookkeeping and Accounting are not the same thing

An example of an expense account is Salaries and Wages or Selling and Administrative expenses. A package is a collection of services and features that you bundle up into a single offering that oftentimes comes with a flat fee or value-based pricing structure. https://www.bookstime.com/tax-rates/illinois They helped with Seed EIS, R&D and implementing an online cloud bookkeeping system through Xero. Tell us about your business and we’ll get back to you with a quote based on your requirements.All packages include fixed monthly prices with no hidden fees.

But with today’s advancements in technology, outsourcing has never been easier. Outsourcing can provide advanced and less costly bookkeeping service than a typical in-house bookkeeper. And this is where we bring in the third prong of the bookkeeping service, the controller. The controller increases the company’s overall financial accountability and checks and balances. A controller reviews the bookkeeper’s ledger for accuracy while also maintaining the integrity of the accounting data file in the future so that adjustments can’t be made without approval. Lastly, a controller issues monthly financial reports highlighting any critical issues that you need to understand and possibly address.

Are bookkeeping and accounting different?

We handle your bookkeeping needs under one roof, with affordable fixed rate costs and a range of packages to suit different businesses. If you do not have your bookkeeping under control, you can easily face penalties or lose vital funds. Save yourself stress and money by investing in a reputable bookkeeping service.

• If you find someone who is a good fit for your business needs, it doesn’t matter if they are in California while you work from New York.
• You may also be charged for your QuickBooks subscription, which can run from $18-$26 a month.
• However, most businesses that make the leap see the value and experience an ROI rapidly.
• The costs a small business or nonprofit incurs for bookkeeping will depend upon many variables.

With a bit of training, you can help business owners identify the things that drive profitability. These key performance indicators (KPIs) are often the same across whole industries, so it’s not bookkeeping services like you need to learn a big secret. You can highlight the relevant KPIs for your clients, help them set benchmarks and monitor progress, and even brainstorm ideas for improving performance.