We define real-time bookkeeping as services that provide a business owner or management team with financial information on an up-to-the-minute basis. This service is like having a bookkeeper in your office, without having to pay full-time for the employee.
We customize the service to meet your needs, but we do the following for most of our clients:
- Access client bank records online and enter transactions on a regular basis, which vary from daily to weekly or monthly.
- Enter expenses as they happen. The client notifies us when checks are written or a debit card is used and we update balances to accurately reflect available cash. We can also track debit card use directly online, saving time for the client.
- Process all customer invoices for the client
- Record payments and deposits against customer invoices
- Reconcile bank statements
- Create financial statements for review
This bookkeeping is most often at an hourly rate, based on usage.