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If you've read all the reasons I provided to encourage you to
do your own record keeping (click
here if you haven't), and you still insist you can't, won't, or have no time to learn to do
it yourself, I will do it for you. If this is the case, decisions
need to be made...
LOCATION: On or off-site?
use your software on your computer at your location. You can do any data entry
you're willing to and I can do the rest (some clients only write
checks or only produce sales invoices).
use my software on my computer at my location. You choose either Quickbooks
or Peachtree. I do all the data entry for
you based on entries made in your checkbook register and based on
any other forms you provide (i.e. - sales invoices, etc.). If you purchase the
for yourself, I can restore your data to your computer on a regular
basis, or I can print monthly/ quarterly/annual reports to present
Basic or In-depth?
the bare minimum on
a cash basis. Cash basis means we only
record the bank deposits and checks written. Both types of
transactions are posted to either income or expense accounts. Inventory is booked
periodically, not tracked perpetually. The accountant does the
sales tax and payroll returns, if applicable.
the middle ground using an accrual basis. Accrual basis means we record
sales invoices and bank deposits, along with vendor bills and checks
written. This allows you to track your
Accounts Receivable and Accounts Payable, which helps you make
more informed cash management decisions. As above, inventory is booked
periodically and the accountant does the sales tax and payroll
returns, if applicable.
The Works: Means
we go into as much depth as
your business can stand. We use an accrual basis as
described above. If your company has inventory,
we record Purchases and Sales in such a way that a perpetual
inventory is maintained. Perpetual inventory means
you can have a list of stock on hand and/or how much it's worth
at any time. If your company is required to
collect sales tax, I do the tax tracking, reporting, and advise
when and how much to pay. If your company has in-house
payroll, I do the Quarterly Reports and advise when and how much to
YEAR END: The accountant will
create year-end entries (i.e.- depreciation, accruals, etc.) and file your
annual tax return. I give your accountant all the
information needed to complete your tax returns. This can be a
backup of your data or printed reports. Your accountant gives me year-end
adjustments to book as Journal Entries, thus keeping the data in line
with the tax returns.
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This is a worst-case scenario. "Rebuild" implies
your accounting data needs to be reconstructed from the ground up.
WHY WOULD YOU NEED TO DO THIS?
Based on my experience, the need would arise if one of the following
situations applied to your company:
Data corruption - you didn't have
a reliable backup of your data to restore when you discovered the
- your office was broken
into and your computer is MIA. You have no backup of your data.
- a fire or hurricane destroyed your computer and the backup that was
kept in the office filing cabinet.
- your trusted
bookkeeper/employee didn't really know what they were doing and ruined
the integrity of your books.
Embezzlement - your trusted
bookkeeper/employee embezzled money from the company and tried to hide
their tracks, thus destroying the integrity of the data.
You select one of the "detail
levels" listed above.
You supply me with the paperwork
needed to reconstruct the books (i.e. - checkbook register,
bank statements, customer/vendor files, and any other
"physical" records you've kept). In the case of a
natural disaster, we rely on copies of bank records.
I do the work in my office on my
computer with my software and present the final result to you and your
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