Frequently Asked Questions
What Do You Want to Know?
Why do I need a bookkeeper?
- You must know where your income and revenue is coming from and where your money is going in order to know if your business is profitable.
- If you are losing money, bookkeeping will let you know how much and from what.
- You need to know which clients or customers owe you money, which ones pay you on time and which ones pay late or not at all. This is important when deciding if you can safely extend credit terms to a particular client.
- If many of your customers pay bills late, you need to know how late so you can take action to collect from “problem” customers.
- You need to know where you are spending money. If you are spending too much in some areas, bookkeeping will clarify your expenditures and help you to develop a plan to save more and spend less.
What information is required to get my company set up?
- Your company's name, address, phone numbers, EIN Numbers
- Bank statements, credit card statements.
- A list of your customers and their billing information whether in a spreadsheet, note pad, or even on scrap paper
- A list of services you will be billing for - along with your charges
- Any and all receipts on expenses you have paid. Shoeboxes welcomed!
How long does it take?
Obviously, the time will depend on the size of the company and the number of transactions that occur on a regular basis. Typically, a new setup will take approximately 5-7 days depending on the amount and clarity of the information provided. After initial set up, maintaining books (dependant on the number of transactions) usually has a 3-4 day turnaround. Any catching up on entries will depend on the length of time you are behind and how many entries are needed.
What software do you use?
We recommend and use QuickBooks® Online Version.
Do you provide CPA Services?
We do not provide CPA services, but we work closely with several CPA's and would be happy to refer you if needed, or we will work with your existing CPA.
What are your hours?
We are available Monday through Friday from 9:00 AM until 4:30 PM by appointment only.
What is the cost?
We provide a free consultation in order to create a customized plan for each customer. Once we look over your current bookkeeping system, we will be able to suggest a plan that best suits each customers needs. Pricing starts as low as $350 per month, depending on the services needed.
What is a Bookkeeper?
A bookkeeper handles the daily financial record keeping and reporting associated with the day to day financial responsibilities of a company. Having a good bookkeeper is just as important to the growing business as having the products and services that are offered. Learn more about the fundamentals of bookkeeping.
Please read on throughout our site to see how DFW Financials can help you by performing some of your daily bookkeeping activities such as, accounts payable, accounts receivable, preparation of financial statements and bank reconciliations.