E X P E X

Bookkeeping

Bookkeeping is the process of recording the daily, weekly, and monthly financial transactions for a business. It ensures that transactions are recorded correctly and that the financial records are accurate and up to date.

A bank reconciliation compares all transactions in your bank account to the transactions in your accounting system. Any differences must be accounted for before the reconciliation can be completed. Bank accounts should be reconciled every month before publishing financial statements.

Reconciling your bank account ensures that you identify unusual transactions that may be caused by accounting mistakes or fraud.

A bookkeeper performs all the daily, weekly, and monthly financial transactions required by a business. This can include paying bills, recording payments, managing cash flow, reconciling accounts, and publishing financial statements.

Yes. However, you always want to review bills before they are paid and review open bills that are due. Carly, our automated bookkeeper, makes this a snap by automating the bulk of the bill payments process and tracking your future cash flow bases on your upcoming expenses and current cash balance.

Bookkeepers perform tasks and even give insights into keep metrics. You need a bookkeeper to recorder transactions, manage cash flow, reconcile accounts, and publish financial statements. Accountants are more strategic and can review and analyze your financial reports to provide financial advice. They also provide compliance, audit, and tax services.

Bookkeepers have traditionally billed for their time on an hourly basis. Expex charges a flat rate based on the number of transactions your business has and the services your business requires.

Accounts receivable is a list of all open invoices owed to a company and have not yet been collected.

Accounts paytable is a list of all open bills that a company owes that have not yet been paid.

A balance sheet is a financial report showing all assets, liabilities, and equity of a business.

An income statement is a financial report of all revenue, expenses, and net gain or loss for a business for a specified period. It is often referred to as a profit and loss statement, or P&L.

A statement of cash flow is a financial report showing the sources and uses of cash from all operating and investing activities in a business.

The accrual method of accounting recognizes all income and expenses as they occur. In the accrual method, income is recognized when an invoice is created, and expenses are recognized when a bill is received.

The cash method of accounting recognizes revenue when cash is received and expenses when bills are paid for. In the cash method, income is recognized when payment for an invoice is received, and expenses are recognized when a bill is paid.

Carly

Carly is an automated bookkeeper that thinks and acts like a human bookkeeper. Carly can perform various bookkeeping tasks and notify you of things you need to review or act on. Carly works in conjunction with a human bookkeeper at Expex to create a simple, easy to use, low-cost solution to the frustration most small business owner experience with traditional bookkeeping.

Carly thinks and acts like a human bookkeeper by performing tasks that would typically require a human being, like paying bills, letting you know when you’re low on cash, and categorizing transactions from your bank account and credit cards.

Yes, Carly uses artificial intelligence to help automate the tasks a bookkeeper would perform. However, there is always a person at Expex reviewing the work Carly does.

Getting started

You will need a QuickBooks Online account, but don’t worry if you don’t have one; we can always set up QuickBooks for you.

You’ll need your FEIN and username and password to your online banking accounts (including credit cards), and your username and password to your QuickBooks Online account.

The onboarding process typically takes 2 hours to connect your accounts and train you on using Carly. We also like to spend some time with you to get to know your business and understand how transactions are currently being booked, especially if you have monthly journal entries that are required.

Yes, we offer training for you and your staff and are always available if you have questions.

Integrations

Yes, Carly is integrated with QuickBooks Online. You must have a QuickBooks Online account to use Carly.

Carly automates tasks that a bookkeeper would need to do in QuickBooks and gives you better visibility into your finances. Carly was built to remove the frustration and time associated with performing bookkeeping work. Carly works together with QuickBooks to make your life easier and create clean, up to date books for your business.

Pricing & Support

Pricing starts at $99 per month. Please see our pricing page (link to the page) for more information on pricing

All plans come with both email and phone support