Service
Small Business Bookkeeping
Books kept current and reconciled monthly, by the same practice that prepares the return they feed.
Who this is for
- Owners doing their own books and falling behind
- Businesses whose accounts have not been reconciled in months
- Anyone who wants the bookkeeper and the tax preparer to be the same practice
- Businesses that need lender-ready financial statements
What this actually involves
Reconciliation is the part that matters
Categorising transactions is the visible part of bookkeeping. Reconciliation is the part that makes the numbers true. An unreconciled account can be out by a duplicated transaction, a missing deposit, or a bank feed that silently stopped importing, and none of that is apparent from the profit and loss.
Every account is reconciled monthly. If the books do not tie to the bank, nothing built on them can be relied on.
Bookkeeping that is ready for the return
Books kept by someone with no view of the tax return tend to need rework in March. Owner draws posted as expenses, fixed assets expensed rather than capitalised, and personal spending mixed into business accounts are all normal in books that were never prepared with a return in mind.
Doing both means the year-end close is a review rather than a reconstruction.
Statements you can use during the year
Monthly statements are worth having only if they arrive while the information can still change a decision. A profit and loss delivered in March tells you about a year you can no longer influence.
Nine months behind, and a lender asking for statements
A restaurant owner has not reconciled since March. The bank feed stopped importing in June and nobody noticed. Personal and business spending run through the same card.
A lender now wants two years of financial statements for an equipment loan.
What gets filed: Catch-up bookkeeping to bring nine months current, every account reconciled, personal spending separated out, and statements produced that the lender can rely on. Monthly close from that point so it does not recur.
Illustration only — not a real client. Figures are chosen to show how the rule applies.
What’s included
- Monthly transaction categorisation
- Bank, credit card, and loan account reconciliation
- Profit and loss, balance sheet, and cash flow statements
- Accounts receivable and payable tracking where needed
- Catch-up bookkeeping for prior periods
- Year-end close prepared for the tax return
How it runs
Assessment
We look at the current state of the books and tell you what catching up involves.
Catch-up
Prior periods brought current and reconciled before ongoing work begins.
Monthly close
Reconciled and closed each month, with statements delivered.
Year-end
Books closed and handed to the return, which we also prepare.
What it costs
Fees depend on what your situation actually requires — the number of accounts, the number of years, and whether prior filings need correcting. A return with one W-2 is not the same job as six years of catch-up reporting, and quoting both the same way would be dishonest.
You get a fixed quote in writing before any work starts. No hourly billing, and no invoice that arrives larger than the number you agreed to.
Common questions
Which software do you work in?
We work in what you already use where that is practical, and will recommend a change only where the current setup is actively costing you time. Migrating accounting software mid-year is disruptive, so it is usually better done at a year end.
How far behind is too far behind?
Rarely too far. Several years of catch-up is normal work. It takes longer where bank statements have to be retrieved and where personal and business spending are mixed, but it is a defined job with an end.
Do I need monthly bookkeeping, or will annual do?
Annual is cheaper and tells you nothing while you can still act on it. Monthly is worth it if you are making decisions on the numbers, carrying inventory, or dealing with a lender. If the business is small and steady, quarterly is often a reasonable middle.
Related services
Business Tax Preparation
Entity and owner returns prepared together, because for most small businesses they are one decision, not two.
Payroll
Payroll run on time, deposits made on schedule, and quarterly returns filed. The deadlines are the whole job.
Tax Consulting
A session for a specific decision, before you make it. Most tax outcomes are fixed by the time the return is prepared.
Talk to us about your situation
A short conversation is usually enough to tell you what your situation actually requires — and what it does not.