Email Us info@accounting4buds.com

Give us a call 802-871-2616

Accounting Consultant

Accounting Consultant

QuickBooks Software

QuickBooks On-line Set-up

You have your business plan, licenses, product/service and are ready to get started. You now need bookkeeping software.

Give us a call and see how we can help you get painlessly set up.

QuickBooks On-line Training

Perhaps you have been using QuickBooks for a while but you feel as though there must be an easier way.

Call or e-mail us and see how we can help you

  • understand the program better
  • train you how to automate some transactions
  • explain how to customize reports
  • walk you through using their phone app where you can
    • automatically track travel mileage
    • upload receipts using your phone camera and never lose a receipt again
    • invoice on the spot rather than having to do it later
    • and so much more

Financial software housekeeping

Have you had a bookkeeper several bookkeepers throughout the years and feel as though your statements are not making sense?

As an experienced accountant I can dig into your software and see where there may be problems.

As bookkeepers change, so does the experience level and process of inputting transactions.

  • Perhaps the first bookkeeper used Supplies in the Chart of Accounts and then the next bookkeeper created other accounts for supplies such as Office Supplies, Work Supplies, Vehicle Supplies.
  • Do you have duplicate accounts that really should be merged into one?
  • Do you have debt that is being recorded as an expense?
    • Or, perhaps the debt was recorded but not the asset to go with the debt. Are these accounts set up properly?
  • Maybe you did the initial set up to the best of your ability but now want someone to help you with the proper set up and transaction entry.

We can help; we know what to look for. We can help you clean up your system to make your financial statements appear cleaner and easier to understand.

Contact us and see how we can help simplify your bookkeeping and accounting processes!

e-mail: info@accounting4buds.com

Cell: 802.871.2616

Accounting Information:

If you are just getting started and have little accounting knowledge, terms like Chart of Accounts, Depreciation and Amortization, Owners Equity probably seem like a foreign language to you.

Do you know the difference between Accrual based accounting and Cash based Accounting?

Chart of Accounts

Your Chart of Accounts are the fundamental building block of tracking financial transactions and consequently affects all yorur financial reports. It is a systematic and logical format that groups transactions into buckets.

  • Let us help you establish best business practices in designing your Chart of Accounts. This is an underappreciated tool that can either help or harm businesses in the future.
  • We can be your business partner and guide you through the process: teach you how to use this tool and, possibly, add future accounts if necessary (which is most likely).

Equity Accounts

Do you know how to properly record assets, such as vehicles, computers, machinery, cash, etc., that you bring into the company?

  • Should the money you put into the organization be a loan to the company or placed into capital? How do you know? Does it matter? What are the effects of those choices?

Assets and Liabilities

The most common mistakes in recording transactions happens at this level. We can help you avoid these errors.

  • Are you sure how to properly record that equipment you just purchased?
  • Did you take out a loan to purchase equipment or property?
    • How do you record the debt associated with the property or equipment? How do you record the monthly transactions associated with that debt?

Month-end Reconciliations

Did you know that the majority of errors made in recording transactions can be found by reconciling every account on your balance sheet?

We all know that the bank accounts (checking, savings, money markets, etc.) need to be reconciled each month. But what about your other balance sheet accounts: loans, credit cards, prepaid expenses, machinery and equipment, etc.? All these items should be reconciled as well.

  • Let us help you establish best practices for monthly reconciliations
  • We can develop spreadsheets for your business that will help you ensure that there are no serious deficiencies in your reports

Period Close Process

Does month/quarterly/annual closing periods seem chaotic and reports not getting out as soon as you would like?Do you find that you are unsure of the information that is in your statements? Do they somehow not feel quite right, intuitively?

Talk to us about how we can help you develop period-end closing routines that will

  • eliminate the chaos
  • consistently get reports distributed on time
  • and ensure accuracy in the data being presented

We will walk you through the process, devise a strategy for your team, and create a checklist to be followed each month in order to deliver timely and accurate reports each period, every period!

Accrual vs cash basis of accounting/bookkeeping

What is the difference? Simply stated-

Cash basis of accounting records transactions when cash changes hands: when you receive payment on an invoice or when you actually pay a bill.

Accrual basis of accounting records transactions when the income is earned and when the action happens that causes the expense. For example, assume you provide a service at the end of February but you do not receive payment for that service until March. Under accrual based accounting, the revenue would be recognized in February. Under the cash method, however, the revenue is not recognized until you receive the cash in March.

Call us and let us discuss the differences. Each business and owner is unique. There are benefits to each; we can help you decide which would be best for your business.