Bookkeeping & Accounting Services
FOR EVEN THE SMALLEST DESIGNER, WE TYPICALLY:
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Reconcile your bank and credit card accounts to ensure that ALL charges and debits are deducted and ALL receipts are posted helping to ensure integrity in your client's funds.
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Periodically review reports such as Work in Progress, Accounts Receivable and Accounts Payable to ensure that you are invoicing consistently and notify you when something looks wrong.
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Manage sales tax compliance and reporting so you don't take the hit in the case of an audit.
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Notify you of inconsistencies & efficiencies, offering tried and true solutions for many of your biggest challenges.
These tasks form the solid foundation of your interior design bookkeeping system. You can customize the package of services you receive by adding monthly consulting, annual 1099 preparation, or any of our other services.
ADDITIONAL SERVICES :
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Posting receipts
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Posting disbursements
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Accounts Receivable and Accounts Payable management
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Proposal, order and invoice creation
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Time billing entry and invoicing
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Provide standard financial statements and periodic reviews.
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Fractional / Contract CFO Services
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Cash flow monitoring and analysis
Temporary services are available to help you when your staff members need a leave of absence. Please contact us for details. All of our employees have extensive interior design bookkeeping knowledge.
BANK RECONCILIATION
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Identify lost checks, lost deposits and unauthorized wire transactions.
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Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
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Know how your business is doing? You can't really know unless all accounts are reconciled and properly accounted for on your financial statement.
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Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
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Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists.​
SALES TAX
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We prepare sales taxes monthly or quarterly depending on your filing frequency, using online accounts to complete your returns with your taxing authorities. We review your sales tax reports by income account to confirm that you're taxing the things you should be and reconcile it with the general ledger to catch any inconsistencies.
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80% of our new clients have overpaid their sales taxes, and we make sure this doesn't happen to you. You will ALWAYS receive a copy of each return filed as well as all of the backup reports used to prepare them.
PERIODIC REPORTS
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Accounts Receivable: Creating invoices for your clients is great, but only if you actually collect
on all of them. Using the accounts receivable report regularly will prompt you to send
statements to your clients to collect on lingering balances. -
Accounts Payable: Making sure that the amounts due to your vendors is correct is the only way
to be sure that your expenses are correctly recorded. This is one that we consistently find
drastically inaccurate when we take on new clients and can have immense impacts on your
year- end income. -
Work in Progress: In addition to identifying items and amounts that need invoiced to your
clients, these reports also let us easily confirm client and vendor deposits within Studio
Designer. This report is great for catching those expenses that come in late and don’t get billed
to clients.
In addition, we review the Income Statement, Balance Sheet and General Ledger to identify discrepancies, maintain consistent placement of income and expenses, and help you to understand where you are making and losing money.
IDENTIFY INCONSISTENCIES & INEFFICIENCIES
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Inconsistencies are a red flag to the IRS and us. They are frequently an indicator of fraud or errors and you need to know about them right away.
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We also look for inefficiencies. These are the things that cause you lost income, frequently in the form of time, either yours, your employees, or ours. One of our core goals in our own business is to utilize the tools and processes that make it possible for us to be as profitable as possible with the least investment and to pass our experience on to you. We openly share all that we can to help your business be as profitable as possible too.
Payroll Services
When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.
Many CPA and accounting firms will provide you with payroll services, but it's frankly expensive and frequently requires you to perform many of the tasks yourself. Why do this, when you can use a payroll service that would only charge you $55-$65/mo and do everything for you?
We can get payroll set up for you as part of your interior design bookkeeping system, process for you if you like or just teach you how to enter it yourself, and help whenever you need it, but not charge you an arm and a leg to do it.
We no longer offer payroll services because we feel that the providers who specialize in this service can offer it to you in a much more cost-effective fashion than we can, but we can offer you input templates and input services to make recording payroll into your accounting system seamless. ​