Welcome to JBV Bookkeeping’s FAQ page! I know bookkeeping can feel overwhelming, but I’m here to make it easy for you. Below are answers to some of the most common questions. If you don’t see your question here, feel free to reach out!
Getting Started with JBV Bookkeeping
How do I get started with your bookkeeping services?
Getting started is easy! First, book a free consultation so I can learn about your business, your current bookkeeping setup, and what you need help with. From there, I’ll recommend the right service and provide clear pricing and next steps.
What do you need from me to get started?
Once we decide to work together, I’ll guide you through securely providing access to the financial information and accounts needed for your bookkeeping. Depending on your setup, this may include your accounting software, business bank and credit card information, and prior financial records. I’ll walk you through exactly what’s needed; no need to figure it out beforehand.
How long does it take to set up my bookkeeping?
Timing depends on the complexity of your books and how quickly the information needed for setup is available. During your consultation, I’ll give you a realistic timeline based on your specific situation. Catch-up or cleanup work may require additional time.
Do you work with businesses outside Virginia?
Yes! JBV Bookkeeping is based in Virginia, but bookkeeping services are provided virtually, so I can work with businesses throughout the United States
What Comes with JBV Bookkeeping’s Services?
What does your bookkeeping service include?
I provide full-service bookkeeping, which includes recording and categorizing transactions, reconciling bank and credit card accounts, generating financial reports, and ensuring your books are accurate and tax-ready.
Do you clean up past bookkeeping messes?
Absolutely! If your books are behind, messy, or non-existent, I can get everything cleaned up and organized. Pricing depends on how much work is needed, but I’ll give you a clear estimate before we begin.
What software do you use?
I primarily use QuickBooks Online (QBO). If you’re already using QBO, great! If you’re starting from scratch or need help getting your bookkeeping system organized, we can discuss the best setup for your business.
Do I still need an accountant if I have a bookkeeper?
Usually, yes! I’ll keep your books accurate, organized, and up to date throughout the year, but I don’t prepare tax returns or provide tax advice. Your accountant or tax professional handles those services. The good news? Clean, accurate books make their job (and tax season) a whole lot easier.
Tracking Income and Expenses
How do you track my income and expenses?
Your business bank and credit card accounts can be securely connected to QuickBooks so transactions are automatically imported. I then review and categorize transactions and reconcile your accounts to help ensure your books are complete and accurate.
Do I need to send you receipts?
Not for every transaction, but sometimes I may need additional documentation or information to categorize an expense correctly. Keeping digital copies of business receipts is also a good practice for your records. If I need clarification or documentation for a transaction, I’ll let you know.
What if I use cash for some business purchases?
That’s okay! Just keep a record of the purchase and provide the transaction details so I can record it properly in your books. Since cash transactions won’t automatically appear in your bank feed, keeping receipts or other documentation is especially helpful.
Financial Reports
What financial reports will I receive?
You’ll receive a Profit & Loss Statement (P&L), Balance Sheet, and Statement of Cash Flows, giving you a clear picture of your business’s income, expenses, financial position, and cash activity. Additional or customized reports may also be available depending on your bookkeeping needs and service plan.
How often will I get financial reports?
Financial reports are provided monthly as part of ongoing bookkeeping services, so you have an up-to-date view of your business’s financial performance.
How do I use these reports?
Your financial reports help you understand how much your business is earning, where your money is going, what you own and owe, and how your financial position is changing over time. Rather than just having numbers sitting in QuickBooks, you’ll have organized reports you can actually use to understand what’s happening in your business.
Tax Time
Will you file my taxes?
No. I provide bookkeeping services, not tax preparation or tax advice. My job is to keep your books accurate, organized, and ready for your tax professional. I can also work with your tax professional to provide the financial reports and bookkeeping information they need.
How can bookkeeping help with taxes?
Accurate bookkeeping keeps your business income and expenses organized throughout the year, making tax time much easier. Instead of scrambling to reconstruct months of financial activity, you and your tax professional will have clean, organized records to work from.
Can you help me keep track of potential business expenses for tax time?
I’ll categorize and maintain records of your business transactions throughout the year so your tax professional has organized information to work with. Your tax professional can determine which expenses qualify for deductions and how they should be treated on your tax return.
Paying for Services
How much does bookkeeping cost?
My ongoing bookkeeping packages start at $500 per month. Final pricing is based on factors such as transaction volume, number of accounts, and the complexity of your bookkeeping needs. Visit my SERVICES page for package details. Catch-up and cleanup bookkeeping is priced separately.
How do I pay for your services?
Payment details and available payment methods will be provided during onboarding. Ongoing bookkeeping services are billed at the beginning of each monthly service period.
Do I have to commit to a long-term contract?
No. Ongoing bookkeeping services are provided month-to-month, so you’re not locked into a long-term commitment. I do require a service agreement that clearly outlines the scope of services, responsibilities, payment terms, and cancellation policy.
What if I need extra bookkeeping work one month?
If you need bookkeeping work beyond what’s included in your regular service plan, we can discuss the additional work and pricing before it’s completed. If your bookkeeping needs have changed significantly, we can also adjust your service plan going forward.
Security and Privacy
Is my financial information safe with you?
Yes. Protecting your financial information is a priority. I use reputable accounting software, strong password practices, multi-factor authentication where available, and secure methods for handling and sharing sensitive financial information.
Will you have access to my bank account?
I do not need your online banking username or password. Whenever possible, bank and credit card accounts are connected directly to QuickBooks using secure bank feeds or accountant-level access. I only request the level of access necessary to provide your bookkeeping services.
Custom Bookkeeping Services
Do you offer one-time bookkeeping services?
Yes! I offer one-time catch-up and cleanup bookkeeping for businesses that need to get their books back on track. Other one-time bookkeeping projects may also be available depending on your needs.
Can I do some of the bookkeeping myself and hire you for the rest?
Absolutely. If you’d like to handle certain parts of your bookkeeping yourself, we can determine which responsibilities you’ll manage and which I’ll handle. Your service and pricing can then be customized based on the work you need from me.
Ending or Changing Services
What if I want to cancel my bookkeeping service?
Ongoing services are month-to-month and may be canceled with 30 days’ written notice. Upon cancellation, I’ll complete the services covered by your final service period and provide the applicable financial reports and records for a smooth transition.
Can I switch to a different bookkeeping plan if my business grows?
Absolutely. As your business grows or your bookkeeping needs change, your service plan can change with you. We can adjust your level of service based on factors such as transaction volume, additional accounts, reporting needs, or increased financial complexity.
Still Have Questions?
Not sure which service is right for your business? Let’s talk! Schedule a free consultation and we’ll discuss your bookkeeping needs, answer your questions, and determine whether JBV Bookkeeping is a good fit.
