Bookkeeping Services

Your SDB bookkeeper handles all of your monthly, weekly or daily bookkeeping needs including invoices and statements, accounts payable, cash receipts and disbursements, bank reconciliations and reporting. All bookkeeping is done on QuickBooks by a qualified bookkeeper and reviewed by a CPA. We customize our service to fit your needs and budget.

Example of services:

Monthly Bookkeeping Services

Fees: Generally between $300 – $1,000 per month. All fees are customized to your service needs.

Typical Company Profile:

  • Clients with sales between $0 & $500,000
  • Monthly record keeping with all income and expense accounts maintained
  • Cash Basis Financials

Client Specific Needs

  • Record bank deposits
  • Record Checks Disbursed, Debit Cards, EFT Payments
  • Record Credit Card Transactions
  • Record Bank Charges
  • Prepare Bank Account Reconciliations
  • Prepare Credit Card Reconciliation

Financial Reporting:

  • Balance Sheet
  • Profit & Loss Statements – Month and Year-to-Date
  • Cash Flow
  • General Ledger
  • Bank Reconciliation Report
  • Credit Card Reconciliation Report

Daily Bookkeeping Services

Bookkeeping Service:
Accounting Type: Cash or accrual Basis Reporting

Fees: Subject to required services and complexities.

Company PROFILE:

  • Clients with sales between $500,000 & 2 million
  • Daily Accounts Payable, Accounts Receivable, Banking, & Payroll maintained
  • CASH Basis Financials

Client Specific Needs

  • Record Sales Invoices
  • Record Customer Payments
  • Record Vendor Invoice
  • Record Vendor, Debit Card Transactions, Pay Pal & EFT Payments

Weekly:

  • Weekly Accounts Receivable Aging Report
  • Weekly Accounts Payable Aging Report
  • Record Payroll / Payroll Taxes / Payroll Fees
  • Track Employee Advances

Monthly:

  • Prepare Bank Account Reconciliation
  • Record Individual Credit Card Purchase Transactions
  • Prepare Credit Card Reconciliation
  • Maintain Vendor W-9 Information
  • Email/Mail Customer Statements
  • Prepare Sales and Use Tax Return

Financial Reports:

  • Balance Sheet
  • Profit and Loss Statement – Month
  • Profit and Loss Statement – Year-to-Date
  • Cash Flow Statement
  • Accounts Receivable Aging
  • Accounts Payable Aging
  • General Ledger
  • Bank Reconciliation Report
  • Credit Card Reconciliation Report

Accounts Receivable
Get your invoices out promptly and send monthly statements on the date of your choice.

  •  We prepare your sales invoice from information you email to our bookkeeper. We email you the final invoice for approval.

OR

  • You generate invoices and statements through your time and billing software. You send the invoices to SDB for recording & mailing by your SDB bookkeeper

Whether we prepare your invoices or you generate them, your SDB bookkeeper can print and mail or email customer invoices and statements on your behalf.

Accounts Receivable reports for your collection and cash flow needs are prepared and delivered to you on a schedule of your choice. Statements can be set up with finance charges on past due amounts based on your terms and conditions and statements can be created and delivered on a schedule of your choice.

Accounts Payable
Invoices you receive from vendors will need to be scanned and placed in your SDB Portal to your SDB bookkeeper.
This process is as simple, easy and quick.
Alternately, you can have vendor invoices mailed or emailed directly to SDB Accounting for processing.

On a schedule determined by you, your SDB bookkeeper will email you a report of all open vendor invoices. Just indicate which invoices you want paid, then email the report back. You then have two options:

  • Your SDB Bookkeeper will set up the checks for processing and print the checks. The checks will then be sent to you for signature and mailing. You maintain full control over your funds.
  • Your SDB Bookkeeper will prepare online bill payment at your bank. Your bookkeeper will then send you a list of bills paid by your bank.

Cash Receipts
Prior to taking deposits to the bank, you will scan the deposit slip and each of the items to be deposited. You will deposit the scanned file into the SDB portal. The SDB Bookkeeper will then apply the payments against the customer invoices and record the deposit.

Payroll Services
Your SDB bookkeeper makes the necessary entries to record payroll processed by a third-party provider. Payroll entries will include complete recording of gross wages, employer taxes and other payroll expenses, and payroll liabilities, and quarterly and annual reconciliation of general ledger balances to payroll returns. If needed, your bookkeeper can also initiate transfers from your operating bank account to your payroll bank account to cover payroll if these accounts are held by the same bank. See more information about this under Banking Activities.

Banking Activities
Your SDB bookkeeper will have access to view and download transaction history and bank statements, and if authorized to transfer funds between business accounts at your bank. Your bookkeeper will not have the authority to sign checks or to initiate electronic payments that have not been pre-approved by you or a designated staff member.

Bank account activity is updated daily in your accounting file, so that you always know your available cash balance. Transactions that appear in your bank account that the bookkeeper has no knowledge of will be posted, but the bookkeeper will inform you of these transactions and request supporting information by email. Bank account balance notifications and cash receipts and disbursement reports can be placed in your SDB portal account daily, weekly, or monthly as desired.

Banking, credit card, and loan accounts are reconciled to the corresponding statements each month, and the reconciliation reports are emailed to you promptly. When emailing the reconciliation report, the bookkeeper will call your attention to old outstanding items that require resolution and will also provide a list of any missing check numbers for security and control purposes.

Business Filings
Your SDB Bookkeeper will prepare required business returns such as sales tax, business license tax, personal property tax, and various industry specific tax filings. Your bookkeeper will either file these returns electronically upon approval, or place the completed forms in your SDB portal account for signature and mailing. All such filings are reviewed and approved by your SDB Accounting CPA before being submitted to you for final approval.

Bank Reconciliation
Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to…

  • Identify lost checks, lost deposits and unauthorized wire transactions.
  • Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank.
  • Detect and prevent embezzlement of funds from within your company.
  • Know how your business is doing. You can’t really know unless all accounts are reconciled and properly accounted for on your financial statement.
  • Manage your cash more effectively. Proper management of funds not only saves money, it makes money for you.
  • 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.

Income Statement/ Profit & Loss
An income statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period. An income statement allows you to…

  • Track revenues and expenses so that you can determine the operating performance of your business.
  • Determine what areas of your business are over-budget or under-budget. Like that hard to control office supplies account.
  • Determine your income tax liability.

Balance Sheet
A balance sheet gives you a snapshot of your business’ financial condition at a specific moment in time. A balance sheet helps you…

  • Quickly get a handle on the financial strength and capabilities of your business.
  • Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables take longer to collect, maybe you can focus more emphasis on your collection efforts.
  • Determine if you need to take immediate steps to bolster cash reserves.
  • Determine if your business has been slowing down payables to forestall an inevitable cash shortage.

Balance sheets, along with income statements, are the most basic elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you.

Maintaining a Clean General Ledger
The general ledger is the core of your company’s financial records. These records constitute the central “books” of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books.

Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we’ll fix the discrepancies so your books are always accurate and kept in tip top shape.