Services
Bookkeeping
At Parr & Ibarra, our comprehensive bookkeeping services ensure that your financial records are accurate, up-to-date, and aligned with industry best practices. We understand that bookkeeping can be time-consuming and complicated, which is why we handle the intricacies for you, freeing up your time to focus on growing your business. Our team ensures proper categorization of transactions, reconciles accounts regularly, and provides monthly or quarterly financial reports to help you keep track of your cash flow and business health. With our expertise, you can confidently make informed financial decisions and remain compliant with local regulations.
We understand that accurate and organized financial records are essential for businesses to make informed decisions and comply with regulatory requirements. Our bookkeeping service goes beyond simple transaction recording—our experienced professionals provide a detailed, hands-on approach to managing your day-to-day financial operations. This includes categorizing and classifying every transaction to ensure your financial records align with generally accepted accounting principles (GAAP).
We handle the following:
- Account Reconciliation: Regularly reconciling bank statements, credit cards, and other accounts to ensure accuracy.
- Financial Reporting: We prepare monthly, quarterly, and annual financial reports that provide insight into your company’s performance, including balance sheets, profit and loss statements, and cash flow statements.
- Expense Tracking: Monitoring your business expenses to ensure proper categorization and compliance with applicable tax laws.
- Tax Preparation Assistance: Providing accurate data to streamline your tax preparation process at year-end, reducing the burden on your internal team.
Our goal is to deliver a comprehensive solution that supports operational efficiency, improves decision-making, and ensures compliance with all regulatory and tax obligations, all while freeing up your valuable time to focus on what you do best—running your business.
Download our flyer here.
Frequently Asked Questions
What does a bookkeeper do?
A bookkeeper records and organizes financial transactions such as sales, purchases, receipts, and payments. They ensure your books are accurate and up to date.
Why is accurate bookkeeping important?
Accurate books help you track cash flow, prepare for taxes, make informed decisions, and ensure compliance with financial regulations.
Can I do my own bookkeeping?
Yes, but many businesses find it more efficient and reliable to hire a professional. Mistakes in bookkeeping can lead to costly errors come tax time.
How often should I update my books?
Ideally, bookkeeping should be done on a weekly or monthly basis. For high-transaction businesses or those seeking real-time insights, daily updates may be beneficial.
How can bookkeeping help me with taxes?
Accurate bookkeeping ensures you’re reporting the right income and claiming all eligible deductions. It also makes year-end tax filing faster and easier—and reduces your risk of an audit.
When should my startup start bookkeeping?
Immediately. Even if you’re pre-revenue, tracking expenses and investments is crucial. Clean financial records help with budgeting, tax prep, and pitching to investors.
How do I scale my bookkeeping as my company grows?
Consider moving from DIY or basic software to a dedicated finance team or outsourced bookkeeping service. Implementing more robust tools like NetSuite or Sage may also help as transaction volume increases.
How do I ensure compliance with tax laws and financial regulations?
Work with a bookkeeper or accountant who stays up to date on local, state, and federal requirements. Periodic financial audits (internal or external) are also recommended as your business grows.
What are the advantages of outsourced bookkeeping?
Saves time and reduces errors
Offers access to expert knowledge
Scales with your business
Often more cost-effective than hiring full-time staff
More FAQs here.
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