Business Financial Health Check

Your books might be in better shape than you think.

But just in case they’re not, there’s good news: Bookkeeping doesn’t present unanswerable questions or unsolvable problems. It’s not like actual health issues where the doctor’s answer could be, “We don’t know what’s wrong or how to fix it.”

When it comes to bookkeeping? There’s always a path to understanding the problem and prescribing a good solution—and we can find it for you!.

Our expert bookkeepers have 100+ years’ combined experience. They are the best team to develop solutions for your business’s books that are compliant (a.k.a. keeping that pesky IRS out of your life), tax efficient (because nobody wants to overpay on taxes!), and geared toward your long-term financial wellness.

Our financial health checkup examines the entire body of your business’s bookkeeping. Here are some of the items we check:

• Do you use accounting software?
• Is it the best one for your business and are you paying for the right subscription? Many business owners pay for a more robust subscription or platform than they need.
• If you don’t use software, how/where do you track your transactions?
• Is your Chart of Accounts set up properly? This is critical to being able to properly categorize transactions, understand your business’s costs, create meaningful reports, and predict profitability.
• How do you invoice clients? Is this the most efficient way for your business? Are your products and/or services optimized in your accounting system to easily reflect profitability?

• How often do you categorize transactions? Reconcile your bank accounts? We’ll let you know what (if anything) you need to do differently.
• Are you properly categorizing your transactions? This can mean the difference between tax savings or overpaying on taxes. We’ll let you know what’s off and how to fix it.
• Is the way you pay your team (vendors and/or employees) legal and setting you (and them) up for tax compliance and efficiency? We can identify concerns and suggest solutions.
• Do you make quarterly estimated tax payments and are you calculating them properly? We’ll let you know if your payments are off or how to make them if you aren’t currently paying.
• Do you run personal expenses through your business or business expenses through your personal bank accounts or credit cards? We can help you understand why not to do this and give ideas for what needs to be separated and how.

• Plan to hire employees? We deliver expert payroll recommendations.
• Plan to bring on 1099 contractors? Doublecheck our Guide to 1099 Dos and Don’ts to make sure you stay in compliance with federal and state laws.
• Already dreading tax season? Get our best practices guide for what you can do now to make next tax season a breeze.
• Have a service-based business but might sell products in the future? Discover what you need to know about this complex topic in our tutorial.