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We Love Month End, Saving the World Through Peace, Goodwill and Reconciliations…

In the months or years since you first became a small or home-based business owner has your accounting, bookkeeping or tax reporting become frustrating and time consuming? Have you been encouraged to find a good service that can assist you? What about strategic planning?

If you've put off that advice thus far it generally means you’ve been spending most of your time growing your business and managing all the roles yourself or perhaps through the kindness of a family member. But now might be a good time for some research. Why…? Because now your involved with more than recording payables and receivables. Now, you’ll want to guarantee the security, power and continued success of your business.

Abacus provides services to all business entities which includes home-based sole-proprietors especially when they may have employees or independent contractor staff recognized by the Internal Revenue Service.

Our remote bookkeepers have years of cloud-based multi-platform experience. You may interact with your team as needed, however… quarterly consults are part of our normal process.

Our service takes a three-tiered approach when on-boarding new clients. The first is to review/establish the accounting file structure. Clients must provide administrator access to their online platform. We work within your existing system, migration of data is not required. Haven’t chosen a software platform yet, we can help you evaluate.

Next, we prioritize the bookkeeping tasks. Sounds simple but there’s a lot more to this step than meets the eye. Here is the initial process we look to create, we can add or subtract tasks where applicable …

Daily Small Business Bookkeeping Tasks

  1. Check how much cash you have on hand
  2. Be aware of incoming and outgoing payments

Monthly Small Business Bookkeeping Tasks

  1. Prepare and send invoices
  2. Record customer billings
  3. Record customer payments
  4. File vendor bills and payment records
  5. Make vendor payments
  6. Update payroll file
  7. Review projected cash flow


Quarterly Small Business Bookkeeping Tasks

  1. Evaluate annual profit and loss estimates
  2. Make quarterly payroll payments
  3. Make quarterly sales tax payments (varies by state)
  4. Make quarterly income tax payments


Annual Small Business Bookkeeping Tasks

  1. Analyze year-end inventory
  2. Begin compiling tax data for preparer
  3. Review full-year financial reports
  4. Review tax returns with accountant before filing


And, lets not forget bank reconciliation(s) or payroll services as needed.

Last, but certainly not least… there is a subtext here that needs consideration. While every task bookkeeping completes is vital the financial health of your business and its underlying structure will only be fully achieved when business development and tax planning have been brought into the process and should be the third step in any tiered approach.

Our recurring bookkeeping fees are as follows. If your monthly expenses are less than 1k your reconciliation is done quarterly for $149.00… if your monthly expenses are above 1k your reconciliation is done monthly. When between 1-3k your fee is $169.00… if between 3-5k your fee is $184.00… or between 5-10k your fee is $199.00. Expenses above 10k are all negotiated rates, please call for a quote. We do include payroll in our monthly expense calculation.

For our quarterly reconciliation clients... Tax Work, Payroll, Business Planning and Advisory services are billed separately.

For our monthly reconciliation clients... all additional services are included in your monthly fee except clean-up work when disorganized or incomplete files are submitted or when multiple state filings are necessary.

**Service Disclosure**
Every client is provided a confidentiality agreement. You will be assigned to an experienced accounting team. Each accountant has their own bookkeeping staff. All bookkeeping tasks are completed based on the client records provided. Nothing will be added or deleted that would portray an inaccurate accounting of your business situation.