- Why is bookkeeping important?
- Why should I outsource my bookkeeping?
- Why should I outsource my bookkeeping instead of using an off-the-shelf software, like Quickbooks?
- Why T.A.M.?
- What size and types of small businesses does SB Suite serve?
- What kinds of financial reports do I get?
- Does T.A.M. guarantee its work?
- Can I send credit card statements for business purchases I made using credit cards?
- How do you account for business expenses paid with cash?
- How do I send my documents to T.A.M.?
- What is the best way to organize my business financial records?
- What if I have questions regarding my reports?
- What are the payment options for your fees?
Why is bookkeeping important?
Maintaining your small business finances in good order is critical for several reasons. First, you need accurate books to properly file your tax returns. Second, your bank, investors, or other interested parties may require certain financial reports on a regular basis. Most importantly, however, is that good bookkeeping serves as an essential tool to get an accurate financial picture of your business, which helps you make better business decisions by allowing you to analyze profitable and unprofitable products or activities.
Why should I outsource my bookkeeping?
Outsourcing the “back-office” bookkeeping function is an effective medium which allows you, as the business owner, to free up considerable time and focus your resources on the core functional activities of your business. Outsourced bookkeeping services can result in improved efficiencies, cost savings, access to financial expertise not available in-house, and an improvement in your ability to monitor your business. You can then focus your efforts on growing your business, instead of spending hours performing non-revenue tasks.
Why should I outsource my bookkeeping instead of using an off-the-shelf software, like Quickbooks?
Many business owners today opt to perform bookkeeping functions on their own by using existing software such as Quickbooks. These types of software certainly offer business owners the flexibility to manage their own finances, but our experiences dictate that there are several limitations. First, to take full advantage of accounting software, the business owner must have some comfort level and knowledge of financial data and accounting language, which a vast majority of small business owners lack. Our experiences have shown us that all the hard work that a small business owner may devote to performing their own bookkeeping, are often re-done or entirely scrapped by professionals at the end of the year, as they spot numerous technical errors. In fact, our experience has shown that most business owners who initially purchase accounting software, end up using them only for check-writing and invoicing purposes, but leave the rest of the bookkeeping functions intact, simply because they do not understand it fully, or because they just don’t have the time or patience to learn the software.
In addition, the option of purchasing such software has traditionally been economically attractive, when compared to the costs of CPAs, or other professional bookkeeping and tax services. Making an initial investment on accounting software was believed to be more cost-effective in the long term. This no longer holds true, however, with T.A.M.’s low fees and its service guarantee. Considering the time that business owners must devote each month to maintaining their own books, and the opportunity cost of that time, T.A.M.’s low-cost full-charge bookkeeping service makes much more business sense.
Three words describe T.A.M.: Experience, Quality, and Cost Savings. First, T.A.M. has the experience to service your small business. Our founders served at one of the most prestigious accounting, tax and consulting firms in the world. Our staff includes highly qualified financial professionals including CPAs and seasoned accountants. Second, we provide professional and quality service. We know small business, and we ensure that our services are of the highest caliber. Third, we save you money. Our bookkeeping fees are the lowest in the industry. We even offer a low-price guarantee where we’ll beat any advertised bookkeeping fee.
What size and types of small businesses does SB Suite serve?
We serve small businesses of all types in all industries. With a few exceptions, we focus primarily on small businesses with less than $1million in total annual revenue. This focus helps us master our field and provide the best possible service to our clients.
What kinds of financial reports do I get?
Our standard reporting package for our monthly bookkeeping clients includes: Check register, bank reconciliation, general ledger, trial balance, income statement, and balance sheet. Other customizable reports are also available.
Does T.A.M. guarantee its work?
Absolutely. If you are dissatisfied with our services for any reason, you may cancel at anytime and we will not charge you for that month’s or quarter’s bookkeeping.
Can I send credit card statements for business purchases I made using credit cards?
Yes. It is important however, that you also provide the receipts behind those charges, or clear descriptions of what each charge was for. This applies particularly if you use your personal card for business purchases.
How do you account for business expenses paid with cash?
Much like credit card purchases, the best way to account for cash purchases is by remitting receipts with a clear explanation of the nature of the expense(s).
How do I send my documents to T.A.M.?
Our policy is to ensure that business owners send us their documents using their existing capabilities. You can choose the method most convenient to you: toll-free fax, email, or pre-paid mail/courier.
What is the best way to organize my business financial records?
We have found that the most successful small business owners keep good records and maintain a good record filing and retention policy. It is important to keep all monthly bank statements, monthly cancelled checks, credit card receipts, credit card statements, cash receipts, and any important business documents in an organized filing system. We recommend that you keep these documents sorted by month. This makes it easier to send us your documents and also ensures that your back-up documents are readily accessible should the need arise. One easy and effective record retention method is to purchase a scanner and save all your financial documents electronically. By doing so, you can save space and prevent document loss.
What if I have questions regarding my reports?
If you have any questions regarding your reports or our services in general, simply email us at email@example.com or call us toll-free. Your complete satisfaction is of utmost important to us.
What are the payment options for your fees?
You may pay for our fees with your credit card, direct debit from your bank account, or we can send you an invoice (5% service fee applies to invoices).