Frequently asked Questions
What is Xero?
Xero is an online, cloud based accounting system designed for small and medium-sized businesses. Taking your bookkeeping online means your financial information is accessible to you from anywhere, at anytime. Additionally, it provides you assurance that we stay accountable to performing our duties as provided, to ensure you are getting what you pay for. If you are currently using QuickBooks Online, we will ensure a seamless transition of all your accounting data to Xero.
What is the Client Referral Program?
For every new client you refer to us, and who signs on to achieve enlightenment with their books, you'll receive a 10% discount on the service portion of your subscription plan. Once you send us five referrals who sign up for our Standard or MAX services, you will start receiving 50% off the service portion of your monthly subscription cost (+ $50 cost of system software each month). The more we grow, the more you save! Please inquire for more details on this great incentive plan.
Do you do payroll?
The details, rules, and laws surrounding payroll push these processes into a league of their own, so we leave the payroll accounting to the professionals who are experts in their field. However, we will enter the payroll records and payroll documentation into the accounting system once we receive those documents from you or your payroll provider.
How does the bookkeeping service work?
Based on the subscription plan you choose, we take care of all your bookkeeping duties weekly to monthly, and provide you with timely, periodic financial statements and consultations so you can effectively run your business in the most efficient way. Leave the bookkeeping to us, so you can focus on the success of your business and spend more quality time where it counts.
Do you do catch-up work for less maintained books?
Yes! We can certainly work with you to recreate your bookkeeping records whether they are one month behind or several months behind. During our free meeting call, we will discuss the current condition of your books and agree on a negotiated fee to perform any catch-up work to bring your books current.
Why should I use Bōdhi Books rather than hire my own bookkeeper?
Many small businesses do not have an on-site bookkeeper because the number of financial transactions typically do not warrant the cost to keep one. Additionally, there are many costs to consider with a dedicated employee, such as hiring, training, and retaining costs. Other costs that need to be considered include overhead, vacation time, sick time, insurance, equipment, retirement, other benefits, and downtime. For many small businesses, it makes better financial sense to outsource your bookkeeping services to Bōdhi Books to avoid the costs and time involved with maintaining your own employee.
Do you do taxes?
This is another area we leave to the professionals, but with our services, your books will be clean and ready for tax preparation. Also remember, the Standard and MAX subscription plans include liaising with your tax accountant, so any questions they have regarding your accounts or information they may need will be handled directly by Bōdhi Books.
What does Tax Accountant Liaison and Audit Liaison mean?
This means we will connect with your tax accountant or external auditor to discuss any questions they have on your financial information. By leaving the tax questions and/or audit issues to Bōdhi Books to tend with, you can spend your valuable time investing in your business, rather than collaborating with those people, which can typically take hours, if not days of your time. We provide these services to you to make your life easier and less stressful, and we believe you will appreciate this beyond measure.
Why are you charging on a subscription basis, rather than by the hour?
Our pricing model focuses on providing a product rather than hourly services. This way, the focus is on getting the bookkeeping completed and delivering your products on time, every time, rather than tracking billable hours and increments, such as tracking time for our phone conversations or reading your emails. With subscription pricing, you know exactly how much you are spending on quality bookkeeping services each month, and you know exactly what you'll receive in return, and when.
What qualifies you to be a bookkeeper?
I earned a Bachelor of Science Accounting degree in 2004 after graduating with high marks in the areas of financial and cost accounting and immediately started work as an Auditor for the federal government, developing a keen sense for spotting errors and becoming very detail-oriented in my work. After changing roles to supervise an accounting staff in the accounts payable department for a large federal government agency, making payment, reconciliations and adjustments, and ensuring accounting records were correct for financial statement presentation, I realized how much I missed actual accounting. Those experiences have led me here, to the start of my own bookkeeping service, Bōdhi Books.
Through several security clearances and background checks required to work for the feds, my strong ethical conduct, integrity, and work ethic will provide proof to my clients that Bōdhi Books is the right choice for their business.
If you have any other questions pertaining to the products offered, how Bōdhi Books works, any business related question, or anything else you need an answer to, please send an email by following the Start Now button, below. I always look forward to providing service and imparting knowledge to future business Bōdhi's.