FAQs

Broadly speaking, a bookkeeper collects, organizes, and categorizes your business’s day-to-day financial transactions. This is usually performed using software such as Quickbooks Online. Bookkeepers maintain financial records for accuracy, reconcile bank accounts, and produce financial reports. Bookkeepers can also process payroll, prepare and submit invoices, and pay bills. Message me to discuss what I can do for you.

A journal entry is any financial transaction on the books of a business. For example, this could be an expense, invoice, or bill. It could also be an entry not tied to a bank or credit card statement (called a Journal Entry in Quickbooks online), such as accumulated depreciation or owner’s investment. Whenever possible, one of Quickbooks' regular transaction types should be used (Invoice, Sales Receipt, Expense, Bill, etc). If no other transaction type works, then a Journal Entry can be used.

Yes, although this should be considered a last resort. The question we will need to address is, Why do we have an extra transaction on the books? Duplicate transactions can often be matched or merged. We may need to discuss workflow changes that will eliminate duplicate transactions showing up in your file.

Once the Service Agreement is signed, deposit received, and requested documents uploaded, I can get to work I will start by asking for Accountant User access to your QBO file. You will receive an invite to be set up in my secure portal. I will request access to statements and copies of cleared checks. This may involve bookkeeper access to your financial institutions. (No, I do not have access to your funds!) I may ask for an introduction to your accountant. I may ask you to refrain from using QBO while we are in the initial stages of working together. If you are a cleanup, catchup, or file review client: Sometimes the work just involves a catchup of transactions that have fallen behind. Other times it involves a cleanup of transactions, company settings, and/or processes. Many times it’s a combination of them all. As they arise, I will compile questions in my portal and send periodic requests, grouping them together as I can. Mostly likely there will also be periodic phone calls to ask more complex questions. Depending on how many months and how many transactions we are cleaning up, a cleanup can take a few days to a few weeks. Once the specified work is completed, we can schedule a video call to review the work I did and perhaps propose improved and streamlined processes. If you are a monthly client, I will start by doing a complete file review to ensure that your file is up-to-date. If anything unusual stands out to me, we will discuss how to address those items. Once I am sure we are at a good starting point, I will get to work on your monthly bookkeeping. Initially, I will be asking a lot of questions as I get more familiar with your transactions. Most transaction-related questions can be asked and answered through my portal at your convenience. As the months progress, the questions may slow down, but you can always reach me via email or schedule a phone/video call. Depending on the level of complexity, I may access and work on your file weekly or monthly. Financial reports will be provided based on your needs, usually monthly. If you wish to contact me at any time during the month, the best ways to get a hold of me are to email me or set up an established client phone appointment. I will likely be interfacing with your CPA at year end to discuss any adjusting entries that need to be made.

Upon booking a call, I will ask you to fill out a brief Intake Questionnaire that will help me prepare for our call. If there is anything you think would be helpful for me to know ahead of time, please let me know on the Questionnaire. During our call, I would like to hear from you about how you operate your business, how you are set up for legal and tax purposes, how you have been handling bookkeeping to this point, and any bookkeeping challenges you have. I will then provide you with my recommended next steps.

I usually start by recommending a review of your books. From there, I can determine the scope of the work and provide an approximation of the number of hours I will need for the cleanup. If you decide to engage my services, I will credit the review to your cleanup. During the cleanup, I will ask that you not make any changes to historical transactions.

No, but I work with your tax preparer to ensure appropriate reporting and seamless reporting to the IRS at tax time. I usually ask for an introduction to your tax preparer when you engage my services.

We always start with a no obligation discovery call. It is the best way for us to get to know you, your business, and your bookkeeping needs. File review. The next step is to perform a bookkeeping file review to get an overview of where I will be starting. Customized proposal. We send a customized proposal for bookkeeping services for your review and approval. Service Agreement, payment authorization, and deposit. Once the proposal is accepted, we formalize a Service Agreement, and securely obtain payment authorization and a deposit. We get started on your file.

I use two-factor authentication with an authenticator app when available. I work on a secure network with a password. I use a single encrypted computer to access your files. My cloud-based file storage employs Transport Layer Security (TLS) during transit, and AES-256 encryption at rest.

I aim to have satisfied, happy customers! If you are neither satisfied nor happy, I would appreciate feedback that helps me to improve my service. Having said that, you are welcome at any time to disengage my services per the terms of our Service Agreement, generally 30 days. No hard feelings, I promise!

While I'm working on your account, please do not make any entries or changes to QuickBooks. This ensures that our work is accurate and reflects the most up-to-date information. Making changes during our work may lead to discrepancies and errors in your financial records. We strive to provide the best bookkeeping services possible, and your cooperation in this matter will help us maintain the integrity and accuracy of your financial data. Thank you for understanding and for entrusting us with your bookkeeping needs.

I usually work with Quickbooks Online along with third party apps that integrate with Quickbooks Online. Do you work with other programs? Contact Me to discuss.

There are many methods that can work for receipt records. A lot of it depends on your workflow which we will discuss during onboarding. As of this writing the IRS recommends keeping copies of records for up to seven years.

Email me at andrea@velostone.com or call or text me at 503-383-1781. There is also a contact form on this website.

Quickbooks Online is designed for single-entity use. In cases where limited activity takes place within multiple entities, and subscription costs are a consideration, we may be able to utilize a limited version of Quickbooks Online called Ledger. Ledger is only available through a Quickbooks ProAdvisor.

I work in conjunction with a third-party payroll service provider to meet your payroll needs.

Yes. We understand trust accounting and the importance of keeping your accounts in balance. We review the State bar association, real estate commission, or other agency at the beginning of our engagement with you. Talk to me about how I can help.

These are completely customizable to your business’s needs. Contact me to discuss what you have in mind.

Message me to discuss updating your Service Agreement.

No, but I can refer you to a trusted accountant if you need tax preparation services.

Depending on your situation, I may need the following: Access to bank, credit card, and loan statements; as well as payroll reports. For my monthly clients, I request bookkeeper access (not Signor access) to your account so that I may view statements and cleared checks. Ensure that your bank and credit card Bank feeds are connected and active within Quickbooks Online. QBO may need you to re-authenticate your login periodically. Possibly an income tax return. Possibly an introduction to your accountant. I will need you to create an account within my portal where you will find questions from me about individual transactions. I will send email reminders for you to answer any questions I have

Yes. Message me to discuss. If you are a month-to-month client, you will have the option to select this service during onboarding.

My number one recommendation is to collect a W9 from your contractors before submitting your first payment to them.

Yes! Their W9 will assist in deciding whether or not they need a 1099 at year-end.

Yes!

There are many types of 1099s. Most commonly, you may need to issue a 1099 to your attorney or landlord, so it is always a good idea to collect a W9 from them.

You may be required to withhold a percentage of subsequent payments, and you may need to file a paper 1099 with "Refused" in the TIN box.

I may occasionally reach out to your accountant throughout the year to discuss accounting and bookkeeping-related questions.

Every business’s needs are unique. Contact me or Book a call to set up a complimentary consultation to discuss what you have in mind.

Major credit cards and ACH transfers.

The Onboarding Fee covers my time to review and familiarize myself your file its integrations. I use this time to address any outstanding issues or questions such as old, uncleared transactions, old AP, or old AR. I also review financial statements for anything unusual that may need attention as I work on your file. I also use this time to get set up with appropriate financial institution access and confirm Bank Feed connections in Quickbooks Online.