What are the steps to transition into becoming a client of Well-Balanced Bookkeeping?

Typically, clients have a general idea of Well-Balanced Bookkeeping, either from reviewing the website and/or being referred by an existing client.

After you’ve taken a few moments to review our website, please read below to discover what the typical on-boarding process will be:

Step One - Initial Consult
This is an introductory virtual meeting scheduled at your convenience (at no cost to you) where your accounting needs will be discussed. You will have time to ask questions and determine which of Well-Balanced Bookkeeping’s packages and/or add-on services will suit your business goals.

Step Two - Contract Signing
Once you have determined which monthly services and/or additional services will be best suited to your business, a service agreement and initial invoice will be sent. Once both have been completed, CONGRATS! You’re officially on your way to becoming a Well-Balanced business. We are SO excited to work beside you.
*It is during this stage you will be asked to provide account information & passwords for accounting purposes. A secure link will be sent to gather this information electronically.

Step Three - Established Relationship
Now that you are an established client of Well-Balanced Bookkeeping, you’ll have the freedom to apply your energy and focus to other, more pertinent aspects of your business. You will schedule a monthly virtual meeting with Nichole to receive an overview of the month’s finances and discuss any topics on the horizon. *Please note, Nichole can also be reached for pressing issues needing attention before your monthly meeting.

Things to consider before/during the transition to Well-Balanced Bookkeeping

Which accounting method is best? (Cash, Accrual or Modified accrual method)  
We will discuss these methods to make sure we are using the best possible method for your business

Separate Business and personal expenses.  
It can be very easy to mingle business and personal expenses, especially for small businesses just getting started.  It is crucial to avoid this temptation and draw a clean, straight line in the sand between your business and personal finances.  This will help you avoid messy, inaccurate financials that could potentially land you in trouble with the IRS.  From the start, we will make sure that a separation of business and personal finances can be achieved.

Track all expenses and maintain accurate records.  
This ensures that we can properly manage cash flow and that we are keeping accurate, up-to-date financials for better decision-making.  These are also key factors for lenders or potential investors who are deciding whether to invest in a business. We will sync all business accounts(bank,loan,credit cards)  to Quickbooks so that transactions are automatically pulled in and nothing is missed! We might also need access to your POS system to make sure revenue is recorded and reconciled on a monthly basis.

Automate when possible!  
Running a business can pull you in a thousand different directions making it easy to lose track of an invoice, receipt or even completing the basic accounting functions like reconciling your bank account or recording your receivables properly.  We will work to clear the clutter off your desk and automate where we can.