FREQUENTLY ASKED QUESTIONS
Questions before we get started?
Here are answers to some of the most common questions about our bookkeeping services, pricing, QuickBooks, and what to expect when working with In The Black CPA.
PLANS & PRICING
How much do your monthly bookkeeping services cost?
Our monthly bookkeeping services start at $300. The final engagement price is determined by the volume of transactions, the number of bank and credit card accounts, payroll complexity, and specific reporting requirements.
What does the $300 starting price include?
The starting price covers our Essential Bookkeeping tier. This includes professional transaction review and categorization, monthly reconciliation of bank and credit card accounts, a monthly close process, and a standard Profit & Loss and Balance Sheet package.
What is the difference between the service plans?
Essential focuses on core compliance and clean books. Managed adds accounts payable and receivable tracking, including bill entry and invoicing. Full-Service acts as an outsourced accounting function, including more complex reconciliations, fixed asset schedules, and accrual-basis adjustments.
BOOKKEEPING SERVICES
What exactly is included in monthly bookkeeping?
Monthly bookkeeping includes transaction review and categorization for all bank and credit card accounts, regular reconciliations to ensure bank balances match your records, a reviewed balance sheet, and a monthly profit and loss statement. We essentially handle the record-keeping cycle so your financials stay current.
Can you help with accounts payable and customer invoicing?
Yes, we offer back-office support that goes beyond standard bookkeeping. This can include entering vendor bills, tracking accounts payable, preparing payments for your final approval, generating customer invoices, and tracking aging receivables. These managed services are quote-based depending on your weekly volume.
QUICKBOOKS & MONTHLY PROCESS
Do I need to use QuickBooks?
Yes, we focus exclusively on QuickBooks Online. This specialization allows us to maintain deep expertise in the platform, ensuring your books are built on the most robust and widely supported accounting ecosystem for small businesses. If you are currently on another platform, we can discuss a migration project.
How often are my accounts reconciled?
All business bank and credit card accounts are reconciled monthly as part of our standard process. This is the foundation of trustworthy bookkeeping—ensuring that every transaction shown in your financial statements matches your real-world bank records to the penny.
When will I receive my financial statements?
You will typically receive your monthly Profit & Loss and Balance Sheet statements within the first 15 days of the following month. This timeline allows us to wait for all month-end bank statements to be released and perform our detailed review and reconciliation process.
CLEANUP & CATCH-UP
My books are a mess. Can you help fix them?
Absolutely. We specialize in cleanup projects, from simple transaction catch-ups to deep forensic reconstruction. We'll identify the gaps, reconcile historical data, and get you back to a point where your books are ready for current monthly maintenance.
Is cleanup included in the monthly bookkeeping price?
Monthly pricing starts once your books are current. Historical cleanup and catch-up work are quoted as one-time projects based on the volume and complexity of the records needing attention. We provide a firm quote for this work before we begin.
OTHER COMMON QUESTIONS
Do you handle tax preparation?
We focus exclusively on providing high-quality bookkeeping and financial reporting. While we don't prepare tax returns in-house, we provide your CPA or tax preparer with clean, reconciled, and reviewed year-end financials to make their job easier.
Do you process payroll?
We do not process payroll directly. We recommend using a third-party provider like Gusto or QuickBooks Payroll. We can, however, help record your payroll activity in your bookkeeping system to ensure your labor costs and liabilities are correctly stated.
Are your bookkeeping services an audit or other assurance service?
No. Bookkeeping services are a non-attest service. We do not provide an opinion or any level of assurance on your financial statements. Our goal is to provide accurate and reliable financial information for management's use.
Why choose CPA-led bookkeeping?
CPA-led bookkeeping ensures your financial data is handled with a high level of professional competence and technical knowledge. We prioritize accuracy, reconciliations, and structural integrity in your books, rather than just basic data entry.
Can you provide bookkeeping services in Spanish?
Yes! We are proud to offer full-service bookkeeping and communication in Spanish to support a diverse range of business owners. SĂ, hablamos español y podemos atender todas sus necesidades de contabilidad.
Still have a question?
Prefer email? Questions can also be sent to chris@intheblackcpa.com