Why outsource your bookkeeping and use a virtual bookkeeper?
Virtual bookkeepers are certified to care for your books using software such as Xero and QuickBooks to efficiently track your finances with little effort on the part of the business owner. Proactive solutions to situations are provided as well as accurate and timely reports. The virtual approach also minimizes errors and provides ease of communication that will save you time and money. A virtual bookkeeper will give you the peace of mind that your books are up to date while saving you the hassle of hiring a full-time employee with salary and benefits.
Below are some example bookkeeping packages. Plans can also be tailored to meet your specific needs. Services are explained in more detail under the list of packages. Prices vary by needs of client
Bronze package
Xero or Quickbooks Online Subscription (QBO)
Two synced account (bank account, credit card, other)
Up to 75 transactions recorded and categorized monthly
Reconciliation of accounts on a monthly basis
Preparation of financial statements on a monthly basis (Balance Sheet, Income Statement, Statement of Cash Flows)
30 mins of consultation time to review financial statements and activity
silver package
Xero or Quickbooks Online Subscription (QBO)
Three synced accounts (bank account, credit card, other)
Up to 150 transactions recorded and categorized monthly
Reconciliation of accounts on a monthly basis
Preparation of financial statements on a monthly basis (Balance Sheet, Income Statement, Statement of Cash Flows)
45 mins of consultation time to review financial statements and activity
gold package
Xero or Quickbooks Online Subscription (QBO)
Four synced accounts (bank account, credit card, other)
Up to 200 transactions recorded and categorized monthly
Reconciliation of accounts on a monthly basis
Preparation of financial statements on a monthly basis (Balance Sheet, Income Statement, Statement of Cash Flows)
Bill pay subscription
Accounts receivable management - up to 25 transactions
Accounts payable management - up to 25 transactions
45 mins of consultation time to review financial statements and activity
Services
Xero and Quickbooks Online (QBO)
Cloud-based accounting software that helps keep track of your business on any device. If available, monthly subscription to one of these platforms is included with our services. Monthly subscription costs vary by level of subscription set by Xero or QBO
Account Sync
Your checking account, credit card and other bank accounts can be synced directly into Xero or Quickbooks Online. We will retrieve all of your transactions and sync to the accounting software.
Record and Classify Financial Activity
All of your business transactions will be posted and recorded under the proper accounts, so you don't have to stress about how and where your transactions should be itemized to. By doing this, your monthly financial reports will be properly prepared, and they will become clearer and easier to understand.
Reconciliation of Accounts
This is the process of verifying that sets of records balance, are in agreement, and that no data is missing. This process is used to make sure everything spent (and accrued) is equal to money coming out of the account (and money received)!
Accounts Receivable
Commonly referred to as A/R. This is the amount owed to you from your customers for goods and services sold that you have not yet been paid for. Invoices are sent to customers that itemize what kind of services were bought and/or rendered. Staying on top of your A/R is vital to your business and will help prevent you from having cash issues.
Accounts Payable
Commonly referred to as A/P. This is the amount that you owe to vendors and/or supplies for goods and services that you have received and not yet paid for. You receive invoices, and they are due within a specified time. You want to pay these out in a timely manner. If you don't, your vendor may cut off services to you, or even withhold items until old invoices are paid.
Preparation of Financial Statements
A financial statement package will be prepared for you on a monthly basis. Reports that are included in all plans are the Balance Sheet, Income Statement, and Statement of Cash Flows. These statements will give you an overview of your financial picture and will help you make business decisions. Additional reports can be requested as needed.
Additional Services:
Bookkeeping Clean-Up
If you have fallen behind on your bookkeeping or even have lost your previous bookkeeper, no need to panic! We can help you get caught up.
Sales Tax Management
We can help with your preparation of monthly/quarterly sales tax.
Revenue Optimization & Expense Minimization
We can help you with finding trends within your business. Are you spending too much in certain areas? Can you cut back? Are you A/R getting too high? We can help bring these issues to the forefront and help guide you in the right direction.
Additional Account Sync
Additional bank accounts or credit cards can be added to your plan and synced up to your Xero or QBO accounts.
Additional Transactions
As your business grows, so does the amount of monthly transactions. We can add additional transactions to your plan.
Additional A/R and A/P management
Just like with your transactions, as your business grows, so does the amount of A/R and A/P. We can add additional transactions to your plan.
Personal Bookkeeping
Now that your business' books are in order, how do your person finances look? Do you keep track of those, too? If not and you need some organization, we can help.
Cancellation of Services
Contracts are considered to be on a month to month basis. You do not have to sign every month, just the initial contract of services, unless your plan changes. We hope that we do not have to go this route, but we request that thirty (30) days of notification is given when cancelling services so accounts can be properly closed and end monthly subscriptions.
We do everything in cloud-based support systems. In order to ensure that your financials are in safe care, we have bank- level security and encryption software!
For more information and for some insight into some common bookkeeping errors and ways to avoid them, click on the "Sign up" button below.
If you think Lutz Bookkeeping is right for you and you are ready to take the next steps to getting your books in order and save you all of those financial headaches, visit the "Consultation" page. Consultations are free!
