Virtual Bookkeeping Services For NonprofitsSmall Businesses

Our bookkeeping services begin with an in-depth consultation. During this phase, we take the time to understand the unique needs and goals of your organization. Whether you are a startup, or a nonprofit, we recognize that every organiation has its own set of financial challenges and objectives.

What We Do:

Assess Your Current Financial Situation: We will review your current bookkeeping practices, software, and financial records (if available). This helps us understand any existing gaps or inefficiencies in your system.

Identify Your Financial Needs: Based on your business model, industry, and growth stage, we will identify the key areas where bookkeeping support is needed, whether it is expense tracking or financial reporting.

Understand Your Goals: We ask questions to better understand your short-term and long-term goals. Do you want to improve cash flow management? Are you preparing for tax season? Do you need regular financial reports for investors or board members? Knowing your goals allows us to customize our approach.

Customization: Based on the insights gathered, we will propose a bookkeeping strategy that’s tailored to your needs. This ensures that the services we provide are perfectly aligned with your financial objectives.

Discuss Payment Terms: During/after this consultation, we will outline our payment structure, including pricing for our services, billing frequency, and payment methods. We aim to make payments simple and flexible, ensuring there are no surprises.

Once we understand your organization’s needs, we move on to setting up your bookkeeping system. This step is crucial for ensuring that everything is configured correctly from the start, providing a solid foundation for financial management.

What We Do:

Choose the Right Accounting Software: We use a cloud-based software called QuickBooks Online because of its scalability, security, and user-friendly interface. 

Set Up Your System: Our team will set up your account, ensuring that the software is configured to match your organization’s financial structure. This includes but is not limited to:

• Chart of Accounts: We create a customized chart of accounts that categorizes your income, expenses, assets, and liabilities, ensuring that everything is properly tracked.
• Bank Account Integration: We connect your organization’s bank accounts, credit cards, and payment platforms to QuickBooks, allowing for automatic transaction imports and real-time updates.
• Invoice and Payment Setup: We customize invoice templates and payment options, ensuring that your billing system is streamlined and easy to use.

Data Migration (if applicable): If you are transitioning from another system or need to migrate historical financial data, we handle the process securely, ensuring that no data is lost during the transition.

Training and Onboarding: We provide training on how to use the software, so you are comfortable navigating the system. 

Payment Integration: We integrate your payment gateways (such as PayPal, Stripe, or credit card processors) with your bookkeeping system to ensure all transactions are automatically recorded. We also set up automated invoicing to ensure timely payments from clients.

After the setup, we take over the day-to-day bookkeeping tasks, ensuring that your finances are consistently monitored and managed. Our goal is to keep everything running smoothly, so you can focus on running your organization.

What We Do:

Transaction Categorization: We categorize all incoming and outgoing transactions, ensuring that each expense, income, and payment is properly classified. 

Bank and Credit Card Reconciliation: We perform monthly bank and credit card reconciliations to ensure that your financial records match your bank statements. This process helps catch any discrepancies early and ensures that your books are always accurate.

Financial Reporting: We generate regular financial reports (monthly, quarterly, or annually) to provide you with an up-to-date view of your organization’s financial health. These reports include:

• Profit and Loss Statements: To show your organization's profitability over a specific period.
• Balance Sheets: To give you a snapshot of your organization’s financial position, including assets, liabilities, and equity.
• Cash Flow Statements: To track the movement of cash in and out of your organization, helping you manage liquidity.

Accounts Payable and Receivable Management:

• Accounts Payable: We ensure that all bills and invoices from vendors are paid on time, preventing late fees and maintaining positive relationships with suppliers. 
• Accounts Receivable: We manage your accounts receivable by tracking outstanding invoices, sending reminders to clients for overdue payments, and following up to ensure timely collection. 

Clean-Up/Catch-Up Work: If your organization has fallen behind on bookkeeping or if you’re transitioning from another system, we provide clean-up and catch-up services. Our team will review your financial records, organize past transactions, reconcile accounts, and bring everything up to date. 

Monthly Business Consultation: In addition to regular financial reporting, we provide monthly consultations to discuss your organization's financial health. During these consultations, we review your financial reports, address any questions or concerns you may have, and offer strategic advice on improving your organization’s financial processes. 

Our commitment to your organization doesn’t end with monthly reports. We offer continuous support to ensure that your organization stays on track financially, no matter what challenges arise.

What We Do:

Review Financial Reports: During our check-ins, we review the key financial reports with you. This helps us identify trends, opportunities, and areas for improvement.

Identify Financial Health: We analyze your financial position and provide feedback on how your organization is performing. Are you on track to meet your financial goals? Do you need to adjust your budget or expenses? These reviews help ensure that you stay financially healthy.

Make Recommendations: Based on our analysis, we offer actionable recommendations for improving your financial processes, whether it’s optimizing your expenses, improving cash flow, or preparing for future growth.

Ongoing Communication: We are always available to answer your questions, whether you need clarification on a financial report, guidance on a new tax regulation, or advice on a business decision.

Proactive Financial Advice: We keep an eye on changes in tax laws, industry trends, and financial best practices to ensure that you’re always in compliance and making the best financial decisions for your organization.

Troubleshooting: If any issues arise with your financial records, software, or transactions, we’re here to troubleshoot and resolve them quickly.

Scaling Support: As your organization grows, we scale our services to meet your evolving needs. Whether you need more detailed reporting, additional services like budgeting or forecasting, or help with managing a larger team, we’re here to support your growth.

Payment Assistance: If you encounter issues with your payment system or have concerns about overdue payments, we offer ongoing support to help resolve these issues promptly and ensure that your organization’s revenue stream remains stable.