What is bookkeeping and why is it important for my business?

Bookkeeping is the process of recording, organizing and summarizing a business’s financial transactions. This provides a clear picture of income, expense, and cash flow, which helps with tax compliance and informed decision-making.

What is the difference between a bookkeeper and an accountant?

Bookkeepers focus on the daily tasks of recording transactions, reconciling accounts, and generating foundational reports like profit and loss statements and balance sheets. Accountants provide a higher-level services like financial analysis, tax preparation, and strategic financial planning.

Do I need a bookkeeper even if I’m a small business or freelancer?

Yes, even small businesses benefit from professional bookkeeping to accurately track income and expenses, ensure tax compliance, and understand financial performance. this frees up time to focus on core business operations.

What services do you offer?

• Transaction Recording and Categorization

• Bank and Credit Card reconciling

• Accounts Payable and Receivable management

• Payroll Processing

• Financial Reporting (Profit and Loss Statements, Balance Sheet, Cash Flow Statements)

• Sales Tax Reporting

• 1099 Preparation

• QuickBooks Online Training and Set-up

• Clean Up and Catch Up

Do you specialize in any industry?

While a specific industry hasn’t been the focus, a diverse range of businesses has been served successfully. The strength lies in applying core bookkeeping principles to any business model, ensuring accurate records, optimized cash flow, and clear financial reporting. Being highly adaptable and committed to understanding the unique financial needs of each client is essential, ensuring that services are tailored to each specific situation. Varied experience allows for a broad perspectives.

What bookkeeping software do you use or recommend?

There are many bookkeeping software out there like QuickBooks Online, Xero or even Zoho Books. I use Quickbooks Online so that I am able to link with my clients books easily and make sure everything runs smoothly.

How much do your services cost?

Pricing is based on the value provided to your business, not just the time spent. This is tailored to each client’s specific needs and the overall value delivered to help achieve financial goals.

Will you work with my CPA for tax season?

Absolutely, my bookkeeping services doesn’t just stop when the year is over. I will make sure that your CPA gets everything they need to make sure your taxes are done correctly and flawlessly.

How do you ensure the security of my financial data?

Lexy’s Bookkeeping uses LastPass and Carbonite to make sure passwords and documents are safe and secure.