What is a Small Business Virtual Bookkeeper?

In short, a small business accountant and bookkeeper is someone who keeps proper track of all your business finances, how your business is performing financially, and ensures you are staying in compliance. They are an important professional to have in your corner to help you run a business smoothly and profitably. All of our services are offered virtually.

Virtual Bookkeeping

What factors should I consider?

Consider, first, if doing the books for your business yourself is taking you away from growing and running your business. Chances are, you don’t have the time to run your business and be your business bookkeeper at the same time. If you don’t bring a bookkeeper onboard, your books may fall behind, and you won’t have relevant or timely information on how your business is performing. You also will be taken away from the time you need to manage and grow your business.

Next, consider how complicated your transactions and accounting functions are. If your payroll or sales tax is getting frustrating or confusing, it’s time to turn it over to an expert. This is what small business bookkeepers do professionally, so they are efficient at completing tasks that may seem to take you forever.

Finally, if your tax accountant is currently doing your bookkeeping, they are probably charging you CPA tax rates. A small business bookkeeper’s hourly billable rate is significantly (sometimes more than half) that of a CPA tax accountant. Hire a small business bookkeeper to manage your ongoing bookkeeping tasks, which will save you significantly.

Updating Transactions

Business transactions create lots of movement in your books. Unfortunately, you may not be able to track every single transaction you make while living out your business plan. That’s why you need a bookkeeper capable of updating all transactions related to banks, credit cards, and loans. In addition to being vital for tax purposes, transaction tracking also ensures that you know where every drop of capital is being directed.

Clients who utilize virtual bookkeeping services from Bookkeeping & CFO Solutions 5280 enjoy the benefit of knowing that every account is being reviewed to ensure that money is moving in and out exactly as it should. When issues are detected regarding late payments, incomplete payments, or changes of payment terms, they are flagged for your review to ensure that you’re up to speed with all of your accounts and transactions.

Reconciling at Month End

Bookkeeping & CFO Solutions 5280 offers month-end reconciliation services that help to ensure that all of your posted transactions from financial statements align with your business records. We’re equipped to confirm matches between accounts receivable, accounts payable, and the rest of your company’s ledger items to verify that you have the correct cash balance.

While reconciling at month’s end is one of the most essential tasks for any business owner, far too many neglect this responsibility because there’s simply too much to be done to slow down at the end of the month to conduct the proper audits and confirmations. When you use virtual bookkeeping services to handle reconciliation, you can confirm that there’s a balance between your monthly revenue and expenses. This information is essential when making business decisions going into a new month. It also helps you to see where money is being directed. In addition to being a good decision-making resource, proper end-of-month reconciliation is also one of the best defenses against fraud.

Bill Pay

As a business owner, you have many irons in the fire. There’s a real risk for letting bills slip through the cracks. Leaving bills unpaid can harm your credit score, leave you with fees, and sour professional relationships. That’s precisely why Bookkeeping & CFO Solutions 5280 includes bill payment as one of the services folded into our virtual bookkeeping services. We can help you stay on track with both recurring and special payments. Our clients enjoy the benefits of our prompt action, reliability, and impeccable record keeping.

Invoicing and Customer Payments

Your business is only as successful as your ability to collect the revenue you’ve earned. Drawing in sales is only half the battle. You also need a consistent, resourceful way to make sure that you’re getting paid. It’s not uncommon for small business owners to get in over their heads because they don’t have a good system for handling invoicing. That means that invoices get scrambled by never being delivered, never getting follow-up treatment, or never being collected. Don’t work for free! Use virtual bookkeeping services to enjoy the peace of mind of knowing that a professional is tracking every invoice on your behalf.

Sales Tax

Sales tax is one of the most complicated aspects of owning a business today. If any aspect of your business crosses state lines on either the customer side or vendor side, your tax situation instantly becomes more complicated. In today’s connected economy, this is simply the standard for nearly everyone who does business. There was a time when it was necessary to have a dedicated tax accountant on your staff if you wanted to avoid serious state and federal tax violations. With virtual bookkeeping services, you can now enjoy the expertise of an experienced tax professional on an as-need basis.

Tax accountants at Bookkeeping & CFO Solutions 5280 are experts at the following:

  • Checking sales records
  • Reconciling your sales with the correct tax rate
  • Implementing tax-account policies specifically for your business and industry
  • Providing with you updates regarding all federal tax changes
  • Providing you with updates regarding tax rates and regulations in your city, county, and state

While many virtual bookkeeping firms offer standard accounting services, Bookkeeping & CFO Solutions 5280 provides rare expertise regarding the complicated world of sales tax. Our tax accountants live and breathe sales tax. In addition to helping you take care of your tax obligations today, they can also help you stay ahead of tax changes that impact your business.

Payroll and Payroll Taxes

Payroll is one of the biggest expenses for many business owners. It can also be one of the most complicated aspects of owning a business that you’ll ever navigate. Is your payroll a mess? The last thing you want to do is be late with paychecks when your employees are counting on you. It’s not just your employees who are watching. As an employer, you have legal obligations when it comes to paying employees on time, paying employees accurately, withholding the correct amount for taxes, and properly reporting your payroll taxes. Falling out of balance during just one payment cycle could result in a labor investigation that you simply don’t want knocking on your door as a business owner. You don’t have the hours per month it takes to properly manage payroll on your own.

Bookkeeping & CFO Solutions 5280, LLC handles every aspect of the payroll cycle. Yes, that means you can tend to the business of running a business instead of getting bogged down by processing checks.

Our comprehensive virtual payroll services include:

  • Collecting and processing employee payment and deduction data.
  • Ensuring your employees are paid on time through direct deposit.
  • Verifying that all state and federal taxes are being paid accurately and promptly.
  • Preparing year-end filings.
  • Verifying that all necessary tax paperwork is received by employees by the tax-season deadline.

Payroll doesn’t have to be a headache. Bookkeeping & CFO Solutions 5280 will implement a system that works for your employment environment. In addition to making it easier to manage payroll for you, our services also boost employee morale and confidence by creating seamless payments that are never late!

Don’t let bookkeeping be your pain point. Keep everything compliant, efficient, and in position for growth by utilizing affordable online accounting and tax services from Bookkeeping & CFO Solutions 5280, LLC. We’re the virtual bookkeeping firm business owners trust because we have a proven track record of providing corporate-level support from reliable, experienced professionals with an understanding of what makes small and medium-sized businesses tick. Discover what getting a handle on your books can do for your bottom line. Contact our Denver-based virtual bookkeeping firm today at (720) 608-6240.