In our FAQ sections, we wanted to thoroughly cover commonly asked questions that individuals may have when looking for financial and/or consulting services. If you have additional questions, please don’t hesitate to contact us!
Contents
FAQ: Bookkeeping & Accounting Services
What does the set up process include? How long will it take?
Depending on how well your books have been kept, if at all, set-up can be completed in as little as 1-2 weeks depending on how quickly and completely records are sent and access granted to your business finances. If necessary, we will get you fully set up on QuickBooks Online with customers, vendors, Chart of Accounts, products and services, etc. If already set up, we will review your QuickBooks and get accounts and workflows organized. After your books are organized and systems put in place, we will have a check-in with you to let you know what we have found, what we have done, and to answer any questions/address any concerns moving forward. If interested in doing some of the bookkeeping on your own, we will train you and your team on the workflows we use so that we approach your books as a team.
Have no fear, we will not drop communication with you once we have your books set up. We will be in contact monthly (at a minimum) to go over the status of your business finances.
I have multiple businesses, how can you help?
We charge based on work involved, the number of businesses does not matter to us.
When can I expect my financial statements?
Financial Statements are mailed to you monthly, quarterly, and at year's end. Which statements are sent and when are dependent upon the necessity of the information included in the statement and the preference of the client.
When are my payments due?
Payments are due on the 1st of the month for on-going services. For one-time projects, payment is due prior to start of project.
Do you prepare taxes?
We do not currently prepare taxes, but we are in the process of becoming certified to be able to prepare tax returns.
Will you work with my CPA when it is time to file taxes?
As we currently don't prepare tax returns, we will work with your CPA or a CPA that you are comfortable with.
Are you able to handle bill pay?
Yes we are, that is an add-on service that we offer.
Are you able to help with invoicing?
Yes we are, that is an add-on service that we offer.
Do you handle sales tax payments?
Yes we do, that is an add-on service that we offer.
Do you handle payroll?
Yes we do, that is an add-on service that we offer.
Will you handle my payroll tax payments?
Yes we will, that is an add-on service that we offer.
When is the work performed, will it be on a schedule, and if so, what is your schedule?
Your bookkeeping will be performed routinely throughout the month. Accounts will then be reconciled and statements sent out. A follow-up meeting will then be set up to check in, answer any questions, and address any concerns moving forward.
What if I need services outside the scope of our agreed-upon contract?
Just like businesses change, contracts can also be amended to add services to your program.
I only need data entry with Account Payables & Receivables, I do my own reconciliations. Will you still work with me?
Of course we will! Accounts Payable (A/P) and Accounts Receivable (A/R) are other services we offer and can be offered without bookkeeping services.
*If a reconciliation needs to be undone, it will be subject to a $75 fee. For clients utilizing bookkeeping services, they are allowed 1 free reconciliation undone per year. Any others will incur the same $75 fee.
What if I want to do the recordkeeping myself, will you teach me how?
We want all clients to succeed. When we perform on-going bookkeeping services, once books are cleaned up and set up, we provide a 1 hr training to you and your team to help keep us both working together should you desire to do some of the recordkeeping yourself.
If we perform a one-time clean-up of your books, as an add-on we offer a 1 hr training to give you and your team the tools necessary to follow the workflows we create to help keep your books accurate and up-to-date.
FAQ: General Business
Where are you located?
We are located in Northern Colorado in the front range of the Rocky Mountains but our services are available to anyone residing and conducting business solely within the United States. Unfortunately, we do not offer services in other countries.
What types of businesses do you work with?
We specialize in Agriculture and Real Estate. Below are some examples of the businesses we work with:
- Dairy Farms
- Beef Farms, Feedlots, and Ranches
- Calf/Heifer Ranches
- Dairy Sales/Service Companies
- Hoof Trimmers
- Independent Breeders/Breeding Service Companies
- Independent Dairy Nutritionists/Consultants
- Real Estate Rental Companies
- Real Estate Agencies
- Real Estate Investors
What are your rates?
Rates are tailored to the specific needs of the client, which a consultation gives us the information necessary to provide a proposal and rate for your business. We charge a monthly flat rate vs an hourly rate. We feel that business owners like to know what they are paying each month and that there won't be any surprises. We do offer discounts for multi-month billing!
Do you give quotes over the phone?
We do not give quotes over the phone. We find it more advantageous to the business owner to receive quotes in writing. By having quotes in writing, business owners are able to see all the services they will be receiving in detail and what each service will cost. In so doing, there are less questions and confusions. What you see is what you will get and what you will be charged, no surprises. Ask about our discounts for multi-month billing!
What forms of payment do you accept?
For on-going financial services, we use ACH or direct bank transfer for payments. This avoids fees associated with swiping cards and guarantees payment to us while avoiding late fees for you. Plus, you don't have to be bothered by us looking for payment.
For one-time jobs or projects, we accept card payments. Card payments incur a 2.9% fee to the client.
Do I need to clean up my books before I start working with you?
Clean books is not necessary to start with us. Book clean-up is included in your Financial Services proposal.
My records are a mess and all over the place. I am embarrassed for anyone to see it let alone organize everything. Where do I start?
Start with a free consultation with us. We will gain your trust and help you take control of your finances.
How do you meet with clients: phone call, video, or in-person meetings?
Every form of communication has a proper time and place. Where applicable, in-person meetings can be utilized. We are always just a phone call away. If a distance meeting or training is necessary, Google Meet or Zoom are utilized.
How often may I contact you? Will I be charged?
You can reach us anytime by phone. If a meeting is required, we charge $75/hr for a meeting or training.
FAQ: Software & Security
What software do you use?
We are currently specialized in QuickBooks Online and use this as our sole platform for our clients. By specializing in one platform, we are able to offer expert services to our clients rather than better-than-average services to clients using multiple platforms.
*Xero is starting to gain market share in the U.S. and companies are starting to switch from QuickBooks to Xero. We are monitoring this and will provide services using Xero should it or another platform gain significant market share from QuickBooks.
What tools do you use?
BF&C utilizes QuickBooks for bookkeeping along with integrated apps for a more user-friendly experience and to help save clients money by being able to utilize a lower subscription level.
How do I get my documents to you? How will you send information to me?
Non-sensitive documents can be sent to us via snail mail, email, OneDrive, or Google Drive. Anything sensitive we utilize HubDoc, an ISO/IEC 27001:2013 certified program, to maintain the safety and security of your financial and other sensitive information. We will utilize the same programs to get information to you. Anything from us requiring a signature will be sent via DocuSign.
All required document-sharing programs that we utilize are free of charge for our clients to use. The only required program cost is for QuickBooks Online.
What type of security do you have in place? How will you keep my information safe?
We understand the importance of having trust and confidence in the company that you hire to manage your business' private financial information. The privacy of our clients is of utmost importance to us, for this reason we use contracts in our standard practices to hold ourselves accountable to our clients. Any sensitive information that we come into contact with will be held in the strictest confidence.
- All employees have background checks performed
- Your company data and information is only available to the manager and your assigned bookkeeper
- All company records are kept in a secure server encrypted using 256-bit Advanced Encryption Standard (AES) and only use platforms that have the same standards
- All passwords used are strong and unique and we utilize two-step verification whenever possible
- If our agreement ends for any reason, we will return all files to you and/or properly discard them
What if I don't use Quickbooks Online?
Thats ok, we'll set you up. Unfortunately, at this time we only work with QuickBooks Online. By specializing in one platform, we are able to offer expert services to our clients rather than better-than-average services to clients using multiple platforms.
*Xero is starting to gain market share in the U.S. and companies are starting to switch from QuickBooks to Xero. We are monitoring this and will provide services using Xero should it or another platform gain significant market share from QuickBooks.
FAQ: Other
Shouldn't my bookkeeper be local? How does virtual bookkeeping work?
It is not necessary for a bookkeeper to be local. In fact, it may be advantageous to not have a local or even in-house bookkeeper. Often virtual bookkeepers can perform the same work, for less time, and are cheaper than having an in-house bookkeeper. The other advantage to having a virtual bookkeeper is that it allows you to shop around for the best bookkeeper possible who has knowledge and experience in your industry and doesn't tie you to who is available locally.
How long will I need a bookkeeper?
Bookkeeping is an on-going process that is in constant motion as businesses develop and evolve. We are here for the long-haul with you and your business.
What do you need from me as the business owner?
Open, honest, complete communication is at the center of any high achieving team. Business owners aren't in the business to be mediocre, rather to excel as far as they are able to. Bray Financial & Consulting will keep the records up-to-par with how your business is performing and will give you the financial tools to succeed.
