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We provide bookkeeping, tax and payroll for sole proprietors, partnerships, LLCs, and S-Corporations. As a company, we have made a decision to leave the C-Corporations for the CPAs since they require audited financial statements for the public. We are ideal for small business owners (those companies who are under $1 million in gross revenue).
With today’s cloud technology, it is more important to have a knowledgeable bookkeeper who meets your needs and expectations. There is nothing a local person can do that I can’t, except a physical touch like a hug, high five or pat on the back.
While maintaining your books this way may be somewhat different from what you’re used to, it’s not nearly as scary as you may think. You undoubtedly already exchange financial information with others online. This is just more of the same. Communication is the important aspect and I am available by e-mail, phone, and Zoom Meeting.
Cloud Based Accounting is a newer way to manage your accounts, online. Home Time Bookkeeping will work with you to ensure your business accounts, payroll and other financial functions comply with all regulatory requirements. You input your financial data anytime, anywhere, via simple to use cloud software (on your computer, laptop or smart phone) and we then look after your books. We offer a range of services and work as a team, to achieve the quickest and most convenient solution to all your financial needs. In summary, Cloud Based Accounting is the ideal online solution for quick and simple internet accounting.
The primary benefit of using Cloud Accounting is mobility. You can access your data wherever you are, on any device, so long as you have an internet connection. This means you can now generate invoices on the go or process payments immediately, saving you time and effort. Your data is always safely secured and backed up online, meaning you never need to worry about your computer crashing and losing your data… ever.
Your financial data (and the actual bookkeeping software) IS NOT located on my personal computer. Everything is safely secured on servers protected by bank-level security. That’s the same type of security Wells Fargo, Bank Of America, and others use to protect their customers from hackers.
You will always have access to your files and YOU (and only you) determine who can see it. There are different levels of access. I’ll be more than happy to explain it to you.
I keep NOTHING on my personal computer that involves clients. No names. No financial data. NOTHING. If someone were to hack my system at home, they’d find some cute video clips of puppies and what-not, but NOTHING that would indicate that I do financial work at home. Not even on thumb drives.
Looking for more information, check out this article here. Xerox Small Business Guides: Cloud Accounting and Computing
Maybe, it depends. There are certain things that a CPA can only do, such as represent you in front of the IRS, perform audits, and prepare audited public financial statements. This is typically only needed if you are a C-Corp who needs to publish audited reports. Home Time Bookkeeping can provide most of the needs for sole proprietors, LLCs, partnerships, and s-corps. Since we provide tax services too, you may not have a need for a CPA but we are happy to work with your CPA and turn over your well-kept books for services that they would still provide.
Simple answer, no. Depending on structures and if there is one parent company, we would either set up multiple accounts or use sub-accounts. Most of the time, the prudent course of action is to have multiple accounts for each business so that you truly understand if one is out performing another in terms of profitability and cash flow. This is also important during times of growth and expansion that may require lending.
YES! Home Time Bookkeeping is approved to e-file with the IRS. More importantly, we also offer tax planning which is educating you on legal ways to use the IRS code to your advantage.
Home Time Bookkeeping prefers Xero Accounting software, but is also a certified ProAdvisor for QuickBooks Online. Sometimes Xero is not the best solution, and we recognize this need to be flexible for software.
1. Schedule a 10 minute quick call where we can learn about one another’s business and make a quick assessment whether we should work together.
2. Schedule a consultation call (one hour) which will allow us to discuss what you need and to prepare a proposal at this point I will request access to your current system to make the proposal if this is not an option, current financial statements and bank statements would be requested. From here, we determine the scope of my services needed (sometimes there are options for what you choose to have us perform).
3. Review the proposal, decide what you would like for me to perform for you.
4. Sign a letter of engagement which outlines both our responsibilities (you would need to provide the documents I need to perform the work, I perform the work in a timely manner) and a payment for services.
5. Gather items from the checklist of items which includes: Legal name of business and EIN, Bank Statements (for months we are catching up), most recent tax returns, logo (if you are invoicing it would be on there), contact information for current CPA (if applicable), current chart of accounts, sales tax information (state ID number, tax rates).
6. Account balances, outstanding invoices, bills or uncleared funds as of the date we start as your bookkeepers.