Data Entry

Does it seem like the pile of receipts and bills only gets larger and never smaller? We can help you get caught up with entering these if you are behind; and, we can provide this service monthly to ensure that your books are always up to date. Do you have some transactions that you weren’t sure how to classify? We can clean these up for you too! And, if that’s not enough to free you up, we even reconcile your bank accounts and credit card statements for you.

Virtual

We can exchange receipts and invoices virtually via e-mail or cloud-based services and do all banking and bill paying online on your accounting software, our software, or cloud-based software.

Snail Mail

We can exchange receipts and invoices via mail or pick-up/delivery and do paper checks for paying bills on your accounting software, our software, or cloud-based software.

On-Site

We can come to your location to enter invoices and receipts and pay bills on your accounting software, our software, or cloud-based software.

Any Combination of the Three

We can also offer our services in any combination of the above options. We know that every business is different and we are here to meet your specific needs. If it doesn’t make your life easier, then we aren’t doing our job.

 

Establishing Sound Accounting Practices and Procedures

You may or may not already have someone doing your bookkeeping; but, you feel that things could be done more efficiently and effectively; or, you know that some things are not being done correctly. We offer consultations that establish what is currently being done and offer recommendations and training for improved procedures and practices. If you currently have someone who is doing your bookkeeping, reset assured we will work with them diplomatically to ensure that they are left feeling a part of the solution rather than the problem.

We will have an accountant meet with you to gather information about your business and its current practices. We will then explore what is working well and what isn’t and create a customized plan that fits your business’ needs.

 

QuickBooks Set-Up

We have Certified QuickBooks ProAdvisors on staff who do a spectacular job making sure your books are set up to give you the most valuable information at the click of a button. We do offer set-up services for other accounting software; but, QuickBooks is the most frequently used in small businesses so we tend to focus here.

We will have a Certified QuickBooks ProAdvisor meet with you to gather information about your business and its current or expected practices. We will then make recommendations on how we believe your software should be set-up to give you the most valuable information with the least amount of effort.

When we arrive at a set-up that is agreeable to you, we will complete the set-up and offer any training that might be required to keep the books in tip-top shape.

 

Spending Plan or Budget

When business is doing fine, spending decisions are easy. But what happens when business dips or unforeseen circumstances occur? We have a systematized budget that will more than prepare you for what the future holds and allow you to take the emotion out of spending decisions. But don’t wait until business is bad to do it because it will be too late! See 10 Reasons a Clean Set of Books and Our Spending Plan Spell Freedom to a Business Owner.

We look at previous periods to determine what is “normal” for your business and use this as a starting point. We then create a budget that fluctuates when you are operating anywhere between 50% of normal and 150% of normal. This means that if things don’t go as planned, your budget doesn’t go out the window with your plans.

There are certain principles that we teach as part of our budget to ensure that you are spending just the right amount for people expenses and non-people expenses while creating enough profit to be able to set some aside for four purposes: to re-invest in the business, retain in the business, save for tax time so there are no surprises and you don’t have to fear making money, and take some home to enjoy as the fruits of your labor.

What’s more, this plan creates a system which allows you to be away from the business more because the system manages your people rather than you having to manage them. It also leaves them feeling fulfilled because they are empowered to help the company succeed and a bonus system is built right into the plan if you choose to use it.

 

Financial Reporting, Review and Analysis

Data entry and a clean set of books are great; but, it can be difficult to find time to wade through those reports and make sure everything is accurate. We take care of that for you; and, can even go so far as to only pull out the information that is most valuable to you and present it to you on an easy to read scorecard as often as you need it.

Whether we are doing your bookkeeping or not, an accountant will review the data entry to ensure that everything was classified correctly, that assets were not recorded as expenses, that direct costs were coded to the correct accounts and that none of the data has been corrupted due to faulty software. This occurs after the monthly bank reconciliations have been completed. A profit and loss statement and balance sheet and/or scorecard will then be completed and submitted to you; or, anyone that you would like to see the financial reports, like, your tax preparer or banker, for instance.

 

Industry Comparison

Ever wonder how you compare to other companies similar to yours? This is valuable information that can help you determine where there you are doing a stellar job and where you might have room for improvement. Entrepreneurs can often be overwhelmed by all of the improvements or changes they would like to make. Knowing how you compare to similar businesses helps you stay focused on the areas that have the most critical need. We can do this research for you and make recommendations based on our findings.

We take your financial statements and calculate figures and ratios used for industry comparison. We then use an industry comparison service to find companies that are most similar to yours and create a report that shows how your company is performing relative to others like it. We highlight areas where your company is excelling and make recommendations for areas that could use some improvement.

 

Coaching

Many of our clients have stated that working with Prosperity Bookkeeping is like having a Chief Financial Officer on staff at a fraction of the cost.  That is because we take our role in coaching seriously.  Our services go far beyond the service of entering data into an accounting software package.  We work with our clients to ensure that they are managing the three components of business (marketing, production, and accounting) to the most efficient level so that they can realize a more profitable outcome.

Through coaching we show you how to make key comparisons that will help you better understand and manage trends in your business.  We also show you how to track key performance indicators and compare those to other businesses in your industry so you can identify your strengths and opportunities for improvement.

In addition, we offer a second set of eyes and we are a sounding board, a second opinion, or a resource for right answers.  ​Many small business owners feel that they are saving money by doing their own bookkeeping.  We show them the true opportunity cost of doing so – your time, lost revenue, and mistakes.

Schedule a free consultation today to learn how Prosperity Bookkeeping can make and save you money.  Your peace of mind is worth it!

 

Seminars and Workshops

You may feel that it is necessary to do the bookkeeping yourself for awhile; or, maybe you have someone doing it for you that could use a little extra instruction. Our seminars and workshops can help bring clarity to areas that seem cloudy or uncertain. See our Events page for upcoming seminars and workshops.

 

Prosperity Bookkeeping Referral Program