Online Bookkeeping Services

It’s highly important to stay on top of your bills because, if you don’t, it could lead to cash flow issues and penalties for late payments, and it could even affect your ability to order products and services on credit. Small business owners want to save time, yet 90 percent don’t realize software can help achieve that goal. At 11:59, we stress this heavily. Don’t underestimate what a difference we can make to your business and lifestyle by introducing automated accounts payable.

              What We Offer:

  • Enter and pay bills from one central location
  • Print/Analyze A/P Aging reports

 

 

A huge benefit of hiring 11:59 Accounting is getting help with receivables. Now you can focus on your work we manage the data. Once the invoices are sent out, we can also help you with collections. One of the most critical elements of successfully running a small business is effective cash flow management. Your ability to cover day-to-day expenses and plan ahead for long-term growth hinge on whether you have a steady stream of cash coming in. How you manage your accounts receivable has a direct impact on your cash flow. Analyzing your accounts receivable and taking steps to minimize any risk associated with invoicing is essential for maintaining a healthy bottom line.

        What We Offer:

  • Automatically create and send invoices
  • Send reminders/statements to customers with past-due payments anytime
  • Access and analyze A/R Aging Report
  • Track payments

 

Historically, bank reconciliations are done on a monthly basis once statements have been issued by the bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can help you spot inefficiencies. Most cloud accounting software programs like QuickBooks Online allow you to connect your bank accounts so that you can download your banking transactions automatically to your accounting software on a daily basis. There are a number of benefits to reconciling your bank accounts. Whether you review your banking transactions while having that first cup of coffee each day or carve out 30 to 45 minutes each week or month, investing that time will pay off.

         What We Offer:

  • Daily, weekly and/or monthly data entry from your bank accounts to QBO
  • Matching bank reconciliation balances to your trial balance for financial statement review.
  • Reconciliation of all cleared transactions, open deposits and open checks
  • Cash reporting as needed/requested

 

Small business credit cards are indispensable resources for managing procurement for many small businesses today. Credit cards help you manage your expenses against your cash flow, and they make it easy to make purchases for the business on the spot. Most small business credit cards offer perks and rewards that can add value to your business. If handled the right way, they can improve your company’s business credit rating. Additionally, many vendors prefer credit card payments, too. You want your cards to be a tool to finance growth in your organization. You don’t want them to become a crutch that ruins you. When credit cards are not managed properly, they become a burden to a business.

         What We Offer:

  • Paid on time to avoid fees and interest
  • Each credit card will be reconciled to its statement
  • Card transactions will be loaded into QBO

 

 

If your business sells a product or provides a service that is taxable in a sales tax state, you will need to set up a process to collect and pay sales taxes and file sales tax returns periodically. Collecting, calculating, reporting and paying sales tax continues to be one of the most confusing — and sometimes annoying — aspects of running a small business. Each state offers its own set of exemptions from sales tax. It is extremely important for a small business owner to know the applicable state and local tax rules and which exemptions apply in a particular jurisdiction. Additionally, due to the Wayfair ruling, physical presence is no longer the standard. States can now tax remote, online sellers.

          What We Offer:

  • Review transactions to determine tax liability
  • Calculate/Prepare sales tax returns
  • Coordinate with client on cash requirements and approvals to pay
  • File/pay Returns

 

 

Running payroll can be a difficult and time-consuming process. To simplify the complex task, more and more small businesses are employing online payroll services. Intuit Payroll provides small businesses with scalable payroll services that easily integrate with QuickBooks. The service collects and reports all payroll taxes and offers a variety of helpful tools. It is available in several plans with varying services and price points. Intuit also offers a wide variety of payroll plans. Simply login to QuickBooks Online, enter your business details, pay run information, add employees, and it’s payday!

         What We Offer:

  • A complete payroll solution
  • Completion of all payroll tax returns
  • A payroll specialist that will support your business

 

 

 

Have Any Questions?

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