Managing your day to day bookkeeping & financial tasks.

Managing your day to day bookkeeping & financial tasks.

Sandy is a new tenant in our building and stopped in to introduce herself and inquire about our company, Expex and what exactly we did. We invited Sandy in and sat down and discussed, more importantly, how she ran her business in terms of accounting and bookkeeping.

She was a deer in the headlights.

Sandy had little to no idea how to financially set up her business. She formed the LLC properly, hired an attorney for contracts and employment agreements but stumbled with hiring an accountant, since she “didn’t need one until tax time.”  Interesting. So, we reviewed some of the required bookkeeping items and their frequency:

Daily Review days cash on hand
Daily Post Cash Receipts
Daily Perform customer billing
Weekly Receive Vendor Bills
Weekly Review and approve vendor bills
Weekly Pay Vendor Bills
Weekly File Vendor Bills
Weekly Review Cash on Hand Forecast
Weekly Review Receivables
Weekly Reconcile credit card accounts
Weekly Process Payroll
Monthly Reconcile Bank Account
Monthly Review P&L
Monthly Review Balance Sheet
Monthly Review Management Reports
Monthly File sales tax returns
Monthly Enter Journal Entries
Annual Review Receivables for collections or write offs
Annual Create year-end financial statements
Annual File Annual Reports
Annual Review reports with Accountant
Annual File Income Tax Returns

We discussed what bookkeepers do and that even with a good bookkeeping service, it can be a bit over whelming. “Wow,” she said, “I had no idea. How am I going to be able to handle this by myself?” “It’s not a problem and we can help by setting you up with our bookkeeping services using the Expex application.” We further explained that we can automate 85% of these tasks including bill payments, cash management, aggregation of her financial accounts and creation a financial health dashboard in real time!

In less than an hour we had the app installed, her accounts set up for view and she was on her way.

Are you like Sandy and feeling like a deer in the headlights too? Let us help you. Contact us to learn more and automate the tasks to make your business financially healthy.