About Our Bookkeeping Services
What is the difference between a bookkeeper and an accountant?
A bookkeeper’s primary role is to record and organize all financial transactions. This includes daily tasks like tracking income, expenses, and invoices. An accountant, on the other hand, uses the data provided by the bookkeeper to analyze a business’s financial health, prepare tax returns, and provide strategic financial advice. At Louima Bookkeeping Solutions, we handle the day-to-day bookkeeping so your accountant or CPA can focus on tax and long-term planning.
How can outsourcing my bookkeeping save me money?
Outsourcing bookkeeping can save you money in several ways:
- Reduced Overhead: You avoid the costs associated with a full-time employee, such as salary, benefits, payroll taxes, and office space.
- Expertise without the Price Tag: You get access to professional, specialized expertise without paying a full-time professional’s salary.
- Time Savings: Your time is freed up to focus on growing your business and generating revenue, which is far more valuable than the time spent on administrative tasks.
What specific services do you offer?
We offer a customized suite of services to fit your business needs, which can include:
- Categorizing and reconciling bank and credit card transactions
- Managing accounts payable (bills) and accounts receivable (invoices)
- Generating monthly financial reports (e.g., Profit & Loss, Balance Sheet)
- Payroll management
- Preparation of books for tax season
Do you work with specific industries?
With over a decade of experience, we have worked with a wide range of small businesses. We specialize in bringing clarity and order to messy finances, regardless of the industry. We will tailor our services to meet the specific needs of your business.
Onboarding & Process
How does the onboarding process work?
The process is simple and designed to be as seamless as possible:
- Free Consultation: We start with a no-obligation consultation to understand your business, your current financial situation, and your specific needs.
- Custom Plan & Quote: Based on our conversation, we’ll create a customized service plan and provide a clear, flat-rate monthly quote.
- Secure Access: You’ll grant us secure, read-only access to your financial accounts, and we’ll handle the rest. We use industry-standard security protocols to ensure your data is always protected.
- Ongoing Communication: We’ll establish a communication plan that works for you, with regular check-ins and reports to keep you updated.
What documents will you need from me?
To get started, we will need access to your business bank and credit card statements, as well as any existing financial records you have. We’ll work with you to gather all necessary information efficiently.
What software do you use?
We are proficient in all major bookkeeping and accounting software, including QuickBooks Online. We will work with the software you currently use or recommend a solution that is the best fit for your business.
How often will you work on my books?
We update and reconcile your books on a monthly basis to ensure your financial data is always current and accurate. This allows us to provide timely financial reports and insights.
Financial Health & Planning
How does good bookkeeping help me with taxes?
By keeping your books clean and up-to-date year-round, we eliminate the last-minute scramble at tax time. Our services ensure all your income and expenses are correctly categorized, providing your CPA or tax preparer with accurate, organized, and IRS-ready documents. This can help you avoid costly mistakes and identify potential tax deductions.
Can you help me with cash flow forecasting?
Yes. One of the key benefits of real-time bookkeeping is the ability to analyze your cash flow. We provide insights and forecasting to help you understand your business’s financial trends, anticipate future needs, and plan for growth with confidence.
Will you communicate with my CPA or tax preparer?
Absolutely. We act as an extension of your team. We can communicate directly with your CPA to ensure a smooth tax season and provide them with all the necessary reports and information they need.
Have a question we haven’t answered?
Contact us today for a free consultation.