Individual Building - Block Bookkeeping Services
Updated: Jul 13
Sometimes a small business doesn’t need to hire a bookkeeper full-time but needs help with one or two small projects. Alternatively, an investor may be looking to invest in a company and needs the Financial Statements reviewed.
Knowing the different types of individual bookkeeping services a bookkeeper can provide is important so you don’t spend more time or money than necessary getting the bookkeeping help you need.
Here are some A La Carte Services that can help your company:
1. Current bookkeeping / financial process review
Useful if you’re in-between bookkeepers or you complete your own bookkeeping and want to improve your processes.
This will be a review to ensure:
All current processes are being utilized to maximum capacity
Missing processes can be added to increase productivity
All required and relevant information is being included
The Accounts Payable balance is accurate
The Accounts Receivable balance is accurate
All bank accounts and credit cards are being accounted for
Any discrepancies are noted and a solution can be recommended
2. A Financial Statement Audit
Useful if you’re looking to invest in a company and want to understand their financial position.
This will be a review to ensure:
All relevant Financial Statements are provided
Review of the AR Aging report to ensure revenue is being collected
Review of the AP Aging report to ensure supplier invoices are being paid
For any outstanding loans, review of contacts to understand terms
Review historic profit and loss trends
Review future cash projections
Review bank statements to ensure the bookkeeping accurately reflects the account balances
Inventory reports to review inventory turnover
3. Budget set-up
This provides a very clear financial plan for your business and allows you to plan for future revenue and expenses.
A budget creation will ensure:
Revenue projections are being realistically projected
All relevant expenses are being captured
Planning can be done for seasonal lows
For loan repayments, a timeline can be put in place
To plan for future company growth
To plan for large expenses
4. Implement electronic / paper-based filing system
When you’re setting-up a new company, you may come across a lot of new documents that you don’t know what to do with. Alternatively, you may be reviewing your current processes and would like to update your systems.
Implementing organizing systems will ensure:
All like documents are filed together
Important documents won’t be misplaced
Outdated or unnecessary documents are decluttered
If your company is heavily paper based, you can implement methods to transfer them to an electronic filing system
Save time and money by not having to search for missing documents
Get a clear understanding of what documents need to be kept
5. Set-up accounting software
There are so many options for setting-up accounting software. Before spending time and money investing in a system, get an assessment of which system will fit your company needs.
Setting-up the correct accounting system will ensure:
Templates are set-up correctly and look professional
All important information is included in the system
Instructions will be provided on how to use the system
The system has all the features your company requires
The system is not overly advanced for your company needs
Find the right service for your company by checking out my services page and booking a free consultation here.