Virtual Accounting
Info to run your business, without the hassle
Too often we hear from business owners how hard they have to work to get the financial data they need. Sometimes it seems like accounting just can’t keep up, and it impacts the company’s ability to grow.
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Combine with a Virtual CFO subscription for a complete financial department. May also be combined with Virtual Analysis.
What We'll Do For You
Accounts Receivable Support
We work with your staff to ensure invoices are properly booked to your general ledger software. We review AR weekly and advise you on any collection issues. We post all collections, including credit card payments.
You are responsible for preparing and sending invoices to customers and collecting all customer remittances.
Meetings
Schedule a standing weekly meeting with your Virtual Accountant to keep you informed and ensure you transactions are being properly posted.
Accounts Payable Processing
Online Dashboard
See your financial performance via any device connected to the internet. Scroll down the page to learn more.
Bank Reconciliations
All bank and credit card accounts are reconciled after the end of each month. We inform you of any uncleared deposits over five days old and any uncleared withdrawals over 30 days old.
Payroll Posting
Accurately post all payroll transactions to the general ledger. We require access to your third party payroll provider.
If available, we'll set up an integration with your payroll provider and QuickBooks Online.
We do not manage nor administer payroll.
Bank Transaction Processing
We post all bank and credit card transactions to your accounting software regularly. We work with you to ensure transactions are coded to the proper accounts.
Support
We'll troubleshoot transaction processing problems with your staff and answer questions they may have about your accounting.
Month-End Close
Close your books each month to ensure they are GAAP compliant. This includes sending you a general ledger transaction listing each month so you can review the transactions we make.
We maintain the monthly close checklist, prepare supporting schedules and organize our workpapers so we may vouch the data in the financial statements.
Software Management & Data Backup
We will maintain the software applications we use on your behalf and provide reasonable support for those problems we think we can solve. In cases where we deem the problem to be a technical issue, we will refer you to the software maker's support team.
We connect your QuickBooks Online to a data backup service to provide an extra level of redundancy.
Monthly Financial Report
Every customer gets a standard monthly financial report. Scroll down the page to learn more.
Tax Prep Assistance
Provide reports to your tax preparer and meet with them and you if needed. This generally means helping you estimate your quarterly tax payments and annual tax liability.
We do not prepare tax returns. We work with you and your preparer to make the process easier.
Monthly Report & Online Dashboard
Our monthly financial report is more than just financial statements. We provide trend analysis and Key Performance Indicators to help you better understand your financials.
We offer an online dashboard connected to your QuickBooks Online so you can view your financial information on any devices connected to the internet.
We Use QuickBooks Online
We've chosen QuickBooks Online as the accounting software we use for all our customers.
If you choose to work with us we will migrate you to QuickBooks Online if you aren't already using it. Here's why:
- Since it is in the cloud, QuickBooks Online can be easily accessed from anywhere
- It is a single source of truth - everyone works from the same ledger
- It seamlessly integrates with our technology stack so we can provide you a complete picture of your company's financial health
- With more than 7 million users, many of our prospects and customers were demanding we use it
Frequently Asked Questions
How often do you look at my books?
How often do you look at my books?
We generally review your books two to three times per week.
Do I have to use QuickBooks Online?
Do I have to use QuickBooks Online?
Yes. If you are not using QuickBooks Online we will migrate you to it during onboarding. We can't deliver our services without it, so if you don't want to make that change, we are not a good fit for you.
What is Accounts Receivable Support?
What is Accounts Receivable Support?
We post payments to invoices, book daily credit card deposits and review receivables to make sure they are properly booked. We do not create, nor send invoices on behalf of our customers nor contact your customers to collect cash.
Our customers gave us feedback that they like to control their Accounts Receivable. They see it as part of their customer service. They want control over what goes on the invoice, when it is sent and collecting payment.
They want us to make sure the process is running smoothly and to be a "second set of eyes" on the cash flow, which we are happy to do.