Bookkeeping Frequently Asked Questions

What do I need to do before working with you?

At Faithful Bookkeeping Service, we understand the importance of starting off on the right foot when it comes to your financial goals. That's why our team is here to provide you with comprehensive assistance every step of the way. Whether you have existing books that require a thorough review and clean-up or need us to set up new books from scratch, we have you covered. Our knowledgeable professionals will work closely with you to determine the most efficient and effective processes to follow, ensuring a smooth transition and prompt progress towards your goals. With our support, you can rest assured knowing that your books are in capable hands, allowing you to focus on what matters most – growing your business.

Do I need a Bookkeeper if I have an Accountant?

If your accountant provides bookkeeping services, then probably not. However, depending on the nature of your business, there might be instances where having a separate bookkeeper could prove advantageous. It may be worth your while to assess the potential cost savings associated with hiring an independent bookkeeper. Additionally, one advantage of having distinct bookkeeping and accounting services is the inherent checks and balances that exist between the two roles, fostering accuracy and accountability in financial management.

What is the difference between a Bookkeeper and an Accountant?

In short, your bookkeeper compiles and maintains all the necessary financial data and records that are crucial for your accountant's tasks. This includes but is not limited to organizing your receipts, categorizing your expenses, reconciling bank statements, and tracking accounts payable and accounts receivable. With their keen eye for detail and meticulous record-keeping, bookkeepers play a vital role in ensuring the accuracy and reliability of your financial information. By collaborating closely with your accountant, they help to streamline your financial processes, ensure compliance with tax regulations, and provide valuable insights that can aid in strategic decision-making for your business. With their expertise and knowledge, bookkeepers are the backbone of a well-managed and successful accounting system.

Bookkeepers will provide:

  • Enter daily activities within the correct categories

  • Review for accuracy

  • Account reconciliation

  • Generate financial reports

  • Bill Pay

  • Invoicing

  • Payroll

  • Payroll and Sales Tax Prep

Accountants will provide:

  • Complete tax returns

  • Tax planning advise

Do you communicate with my CPA or Tax Advisor?

Yes, at Faithful Bookkeeping Service, we pride ourselves on offering exceptional customer service that goes above and beyond. We understand the importance of seamless communication and collaboration when it comes to working with your company's CPA or tax advisor. That's why we provide unlimited communication and integration services, ensuring that everyone is on the same page and able to work together efficiently. In addition to that, we also offer tax preparation services to our clients. Our dedicated team of experts will carefully review your financial records, employ the latest tax guidelines, and prepare your taxes accurately and on time. For more detailed information about our tax preparation services, please visit our Taxes page on our website. We're here to simplify your tax filing process and make sure all your financial needs are taken care of.

Can other people access my data?

No, you cannot share sensitive financial information with anyone outside of your company without obtaining explicit permission. This permission should include consent from your CPA, advisors, and specific employees who require access to this information for legitimate purposes. To further maintain security and control, you can also establish restrictions to limit certain functions only to individuals authorized by your company.

Can I choose a schedule for when you do my books?

Yes, we understand the importance of flexibility when it comes to bookkeeping services. Therefore, at Faithful Bookkeeping Service, we offer a wide range of options to accommodate your specific needs. Whether you require daily check-ins to stay on top of your finances or prefer a more relaxed approach with monthly or quarterly updates, we are here to cater to your preferences. Additionally, if your needs change over time, we are more than happy to adjust the frequency of our services accordingly. With our customizable scheduling options, you can remain confident that your books will be managed with utmost care and accuracy, no matter the timeline you choose.

Can you do my taxes?

Currently, at Faithful Bookkeeping Service, we are proud to offer our clients a range of tax services that includes expertise in handling Payroll Taxes and Sales Taxes. With our dedicated team of professionals, we work diligently to ensure that all your tax obligations are met accurately and on time. However, we understand that the ever-evolving nature of tax regulations necessitates the need for continuous growth and expansion. Rest assured, we are actively exploring opportunities to expand our service offerings to cater to a wider variety of tax needs. Our commitment to excellence in tax accounting remains unwavering as we strive to provide comprehensive solutions to our valued clients.