FAQs
What is bookkeeping?
1
Bookkeeping is the practice of tracking the money moving in and out of your business. Every payment you receive, every bill you pay, and every transaction you record is a part of bookkeeping. When you keep your books up to date, you avoid last-minute stress, catch mistakes early, and manage finances easily.
Can I do my own bookkeeping?
2
Yes, but it depends on your time, expertise, and the complexity of your business. Many small business owners start out managing their own books but later outsource to save time, reduce errors, and focus on growing their business. Outsourcing your company’s bookkeeping often pays for itself through improved accuracy and better financial insight. When bookkeeping constantly falls to the bottom of your to-do list, it usually means it’s time to outsource.
What if my books are behind?
3
If your books are months (or years) behind, a cleanup and catch-up service can bring them current. This process involves reviewing past transactions, correcting errors, reconciling accounts, and ensuring your records are accurate.
It’s never too late to get your finances back on track.
What is the difference between accrual and cash accounting?
4
The main difference between accrual accounting and cash accounting is the timing of when income and expenses are recorded.
Cash accounting records transactions when money actually changes hands. Revenue is recorded when you receive payment, and expenses are recorded when you pay them.
Accrual accounting records transactions when they are earned or incurred, regardless of when cash is received or paid. Revenue is recognized when an invoice is issued, and expenses are recognized when incurred.
How is cash flow different from profit and loss?
5
Cash flow and profit are related, but they measure two very different things in your business.
Profitability is measured on whether your business earned more revenue than it spent during a specific period. It includes all revenue and expenses even if the money hasn’t actually been received or paid yet.
Cash flow, on the other hand, measures the actual movement of money in and out of your bank account. It shows how much cash you truly have available to pay bills, payroll, and other expenses. The key difference is that you can still be profitable while having poor cash flow if your customers haven’t paid you yet, and you can have strong cash flow but low profitability.
How do you price bookkeeping services?
6
We price our bookkeeping services using fixed monthly packages so you always know exactly what to expect—no surprises or hourly billing. Your rate is based on your monthly transaction volume, the complexity of your business, and the number of accounts that need to be reconciled. This approach ensures transparent, predictable pricing that can scale as your business grows.