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Albuquerque Bookkeeping Services

505-341-2622


Accounting vs. Bookkeeping

What’s the difference?

bookkeeper with calculatorBookkeepers and accountants perform many similar functions. CPA’s are great for solving complicated accounting and tax issues, but many of the same accounting issues handled by your CPA can also be handled by a bookkeeper.

On top of that, bookkeeping is what’s with you in the trenches day-in and day-out. Bookkeepers keep the detailed day-to-day records of financial transactions that you need to run your business. With up-to-date financial details at your fingertips, bookkeeping helps you save time and money.  What would you do with more time and money?

Frequently Asked Questions

While they share similar duties, accounting and bookkeeping are completely different services. So, what does it mean to have a bookkeeper for your business? Kim Mayfield answers the most frequently asked questions:

    1. What is the difference between a CPA, an accountant, and a bookkeeper?A bookkeeper is somebody who helps you on a frequent basis. We record your financial transactions in computer programs and make sure things are posted to the proper accounts.  We get a system in place for you to keep up-to-date on the financial status of your business.On the opposite end of the spectrum, CPA’s (certified public accountants) are licensed by the state. They have completed certain education requirements, trained with somebody who is already licensed, and completed a difficult licensing exam. CPA’s are the most knowledgeable about accounting and tax.  You don’t always need the big gun to take care of business, though.The title “accountant” is pretty ambiguous and does not always mean you are dealing with a licensed professional. CPA’s are called accountants. But not all accountants are CPA’s. If you are not sure, it’s a good idea to ask.In sum, CPA’s, accountants, and bookkeepers are different types of accounting professionals who can work together to provide the best service for your business. At Provision Business Services, LLC, we can work seamlessly with all of these people to meet your goals.
    2. Will you ever have access to my funds?No. I will never ask nor do I want access to your funds.  For example, if you want accounts payable services, I will record the payment in Quick Books and can even print your check from Quick Books.  But I will never sign your checks.
    3. Do you work at my office or yours?I can work at either your office or mine. It is my goal to make bookkeeping services convenient and stress free for you.
    4. What is the range of services performed by a bookkeeper?Many business owners are surprised and pleased when they discover the benefits of hiring a professional bookkeeper, especially if they already have a CPA. As a professional bookkeeper, I can perform accounting services as well as work with your current CPA so you can get the best possible information for your business. Examples of bookkeeping services would be:
      • Preparing in-house financial statements and financial reports
      • Setting up computerized bookkeeping systems, such as Quick Books
      • Recording every business transaction to the right accounts
      • Taxes
      • Gross receipts filing
      • Report financial facts to you or your CPA.

 

  1. What does it cost?The biggest cost predictor is how many transactions you have each month. For some customers, I set them up so that their banking transactions and credit card transactions are automatically downloaded every day. All I have to do is a quick check to make sure things are posting to the right accounts.  It can take as little as one or two hours of my time a month.
  2. Do I lose control of my accounts?No. You are always 100% in control of your finances. In fact, you will be in more control of your finances with up-to-date financial information at your fingertips.
  3. Who has access to my financial data?At Provision Business Services, LLC, your financial information is completely confidential. I will never share or disclose any financial information without your consent.

Did we miss your question? Please feel free to contact Kim Mayfield with any additional questions!

Benefits for Albuquerque Businesses

By using bookkeeping for your day-to-day financial needs, you can hone a more economical strategy for your business. Not only will you be able to access up-to-date details of your finances quickly, but you will also be able to present your accountant with a computer file containing easy-to-read financial statements. That way, when you do need a more experienced approach, your CPA can get the job done quickly.

Call a Bookkeeper Today

As a business ourselves, Provision Business Services, LLC understands how important it is to make the most out of every dollar earned. With up-to-date bookkeeping services, you can empower your business with more time and money!  Contact us today and see where your business can go…

See the difference a professional bookkeeper can make and call our Albuquerque office today at 505-341-2622!