Bookkeeping services include the recording and management of your business’s daily financial transactions, from debits and credits to payroll, invoicing and more.
Bookkeepers maintain your company ledger, which tracks your daily sales and purchases (debits and credits). At Legacy, we do this using the cloud-based software Quickbooks Online.
At regular intervals, bookkeepers compare the company’s bank account statements to its cash records. We correct any errors and use this information and make adjustments as necessary.
Bookkeepers ensure your employees are paid on time by managing your bi-weekly payroll, which includes accounting for source deductions and other benefits or compensations.
Bookkeepers manage your Accounts Receivable (AR) and Accounts Payable (AP). Essentially, we handle all incoming and outgoing invoices and payments so you don’t have to!
Bookkeepers can help you to establish and track budgets as well as issue cash flow forecasts as well as business unit and financial reports that can help you steer your business.
Small business bookkeeping isn’t a small task. Having a dedicated bookkeeper on your team ensures that your business’s financial dealings are recorded consistently and accurately.
Your bookkeeper or bookkeeping firm can help you to improve efficiency by revising transaction processes and implementing new software tools.
By keeping a watchful eye on budget performance, cash flow trends, project costs and more, a skilled bookkeeper can provide you with a clear sense of how your business is performing.
As your small business grows, so do the demands on your time. Engaging a small business bookkeeper frees you to direct your time and energy to where it’s really needed.
Bookkeepers aren’t stock brokers, or tax accountants—we’re highly specialized providers of bookkeeping services. We focus on what we do best so that you can focus on what you do best.
Knowing that your books are up-to-date and accurate will give you tremendous peace of mind, particularly when handing those books over to your accountant for year-end assessment.
You’re going to have to speak with your bookkeeper at least once a month. Make sure they understand you, your needs, and your business before you start working together.
Don’t be afraid to research a bookkeeper. Nowadays there are plenty of online review sites. Just think of it like checking references. You are, after all, entrusting them with your business.
What do you think will be the most complicated aspect of your company’s financials? Ask your potential bookkeeper how they’d manage that, and see what innovations they suggest.
Depending on the size of your business and your working style, you may wish to work with an individual bookkeeper or a bookkeeping firm. There are pros/cons to each.
Each client is assigned a dedicated bookkeeper, but we work as a team. If your bookkeeper is ill or away, another team member will jump in to ensure your accounts are never unattended.
We work exclusively with Quickbooks Online. We know the ins and outs of this program, how it integrates with other software, and how we can use it to provide flexible, accessible services.
Our focus is small business bookkeeping. We go an inch wide and a mile deep to develop highly specialized knowledge of bookkeeping tools and techniques relevant to small businesses.
We love apps, and we can help you use these to streamline, optimize and automate your bookkeeping, improving efficiency and creating a more affordable (and paperless!) process.
That’s right, it’s an employee requirement. Why? It allows us to provide you with useful business insights and support you in understanding and interpreting your business financials.
By providing small business owners with quality bookkeeping services, we provide the peace of mind, clarity and insights that empower them to realize their passion and potential.