Frequently Asked Questions
Check our FAQs for answers to the most common queries we receive about our services.
Why should I choose a monthly accountant vs. less frequent methods of accounting ?
Monthly accounting services provide substantially more value than only an annual service. If an accountant only sees your numbers once a year, it is too late to offer advice that would have helped to make that year more profitable. And definitely too late to lower your tax liability for a year that is already over with. Monthly accounting saves you time, improves the chances of business profitability, gives you peace of mind that your finances are handled, reduces your tax liability, helps you to make more proactive financial decisions.
What are the best ways to separate my business and personal finances ?
Mixing business and personal finances is a major problem for small-business owners. Not only does it create headaches at tax time, it also makes it difficult to track the profitability of your company. Worse-case scenario: you get audited by the government tax authorities and end up with major fines. Keeping these two parts of your money life separate is essential to preserve your sanity and to ensure you have a sustainable business model. We will help you in ensuring a complete operational effectiveness in your differentiation between your personal and business finances.
How does better accounting affect my bottom line ?
Many small- and mid-size businesses fail to adequately measure and manage their finances, even though poor financial management is a major cause of business failure. If you don’t have good financial practices in place, your business could suffer in a number of ways, including lost revenue, insufficient tax planning, and missed financial opportunities. A great monthly accounting service will handle your profit and loss statements, monthly balance sheets, and regular account reconciliation to help you take back control of your finances without much effort on your part. We will create efficient financial structures for your business which will be compatible with your peculiar business and provide advisory regularly.
How much does monthly accounting cost? What factors go into the pricing ?
Pricing for our monthly accounting services varies by your company’s needs. Our pricing is not based on the size of your company, rather our pricing model is based on your company’s accounting activity and the complexity of your financial statements. We will work with you to arrive at an affordable, fixed monthly fee. Our fixed-monthly fees are all-inclusive; services provided include profit and loss statements, balance sheets, bank reconciliation, business tax work, sales tax filings, audit representation, and unlimited consultations.