Frequently Asked
Questions
When should I hire a bookkeeper?
If you’re just starting out, ideally, you’ll want to hire a bookkeeper as soon as possible to help create a system that works best for your business. Keeping your books on track from the start will make a significant difference on your time management, workload, and taxes. But, maybe you’re a seasoned entrepreneur.
You’ve had your business for a number of years and you’ve been handling the books on your own thus far. However, you’ve gotten quite busy, you’ve run out of time to keep the books as you have more important day to day tasks to handle, your receipts are piling up, and you’re not ready for tax season – it may be time to hire a bookkeeper. You started your business because you’re passionate about what you do, not because you love accounting (unless you’re like me…). Maybe you just want your time back.
After a long days work, you don’t want to do bookkeeping. You likely want to spend time with family, relax, or you just want to spend more time on high growth areas of your business. Your time is valuable – put it towards doing what you love.
How can I know which bookkeeper is right for me?
Does your bookkeeper return your calls? Do you feel comfortable asking them questions? Do they understand your horse lingo and the nature of the transactions going through your accounts? With the right accountant/bookkeeper for your equestrian business, the answers should be a resounding “Yes!”.
You want to hire a bookkeeper to make your life easier and have a positive impact on your business! Not to spend more time explaining what hay cubes and dewormers are. You want someone with experience in the equestrian world that speaks the same language and knows what questions to ask that matter!
What’s expected from me when I hire a bookkeeper/accountant?
We do as much as possible to make sure your bookkeeping tasks are at a minimum! However, in order to ensure your books are reliable and tax ready there are two main things we need from you! Financial related paperwork and timely feedback when we have questions on your transactions. Don’t worry – we make both as easy as possible!
- Financial related paperwork. This includes receipts, invoices, bills, purchase documents for new assets, essentially, anything related to financial transactions. Wondering how you get this to us? We include a receipt management software that we’ll set up and walk you through! It comes with a couple options to upload documents so you can choose whichever you prefer! Using the app on your phone, you can simply take a picture of the document from your app. You can also forward emailed receipts to a customized email. Once it’s in the system, we’ll take care of the rest!
- Providing feedback. When we have questions for you, it’s as simple as clicking a link to our questions (we’ll send via email and/or text) that will take you to your Client Portal. Add your feedback for each question, and we’ll take it from there!
What is outsourced bookkeeping?
Outsourced bookkeeping provides full time presence and knowledge at a fraction of the cost of hiring in house, saving you time and money. When you outsource your bookkeeping, you can put your money toward exactly what you need and keep your time focused on running your business rather than hiring and training employees. In turn, saving on payroll costs and benefits as well. We work virtually through the cloud to provide exceptional bookkeeping solutions to businesses nationwide.
Is QuickBooks Online required?
Yes! We use QuickBooks Online exclusively with our clients and require a minimum of QBO Essentials for our Bronze service plan. QBO Plus is required for our Silver and Gold service plans. If you don’t have QBO already, don’t worry! We include a new subscription in our service packages and we can get your QBO all set up and ready to take your business to the next level!
