Bookkeeping Services

Accurate and Thorough Bookkeeping Made Easy with Limitless Bookkeeping Services for Small Business.

Small business owners need to be equipped with solid financial data to make sound decisions. Ensure your books are in balance and error-free with Limitless bookkeeping services. We are available around the clock to keep a trained eye on your ledgers. Our comprehensive approach to outsourced bookkeeping means the Limitless team will take care of everything from bank reconciliation and invoicing to cash flow management and year-end reporting. 

—

Customized Bookkeeping Services for Every Client. 

The Limitless Investment & Capital team of professional bookkeepers has worked with small businesses for numerous years. We have seen first-hand that the needs of each small business is unique. We pride ourselves on being able to set up customized bookkeeping services that are tailored specifically to the needs of each individual client. 

In order to determine how our bookkeeping services can best help you run your business, we will start with a thorough assessment of your needs and then design a system that can grow alongside your company. Outsource your bookkeeping and let us create your chart of accounts, establish accounts payable and receivable policies and procedures, design a payroll system and more.

—

We provide the data your small business can’t do without!

—

Small Business Bookkeeping Services Include:

	Accounts Payable Keep Track of expenses, due dates, and ensure accuracy.		Accounts Receivable Track all your income in QuickBooks Online and timely follow-up on money you are owed.		Sales Tax Filing Create items with appropriate sales tax precent, use correct items in invoices, and pay sales taxes to state-tax agencies.
	Expense and Document Management Project expenses and cash flow in advance for better business management at your fingers.		Credit Card Reconciliation Import charges to track expenses, keep them within budget, and  reconcile your bank account.		Payroll Processing Calculating hours, overtime, sick pay and holiday pay, and submitting it to your  payroll company.
	Financial Reporting Profit and loss, balance sheet, AP aging, AR aging, reconciliation or custom.		Bank Reconciliation Keep Your Quickbooks matched to your bank statements to manage your cash flow, keeping your books audit ready.		And MORE!

—

What Are The Benefits of Bookkeeping Services for Small Businesses?

1. Saves on Operating Costs: Often, small businesses are hesitant to hire an outsourced bookkeeping service because they’re worried about the cost. Although hiring a bookkeeper isn’t free, the long-term benefits worth the money spent. The bookkeeper will be able to take a deeper look into the operating costs of your business and will be able to make suggestions on areas in which future savings can be made. 
2. Unbiased Financial Opinion: A disadvantage of hiring an inside bookkeeper is that he or she may become personally involved in the daily operating procedures of your business. When hiring an outsourced bookkeeping service, the individual has no relation to your day-to-day operations. This outside source will allow for a clear, unbiased insight to be given regarding your business’s financial position, including your business’s strengths and weaknesses.
3. Focus on Running Your Business: When your business is growing rapidly, there are a variety of different responsibilities to account for. Whether it’s increasing sales or focusing on growth, the financial statements are necessary to complete these tasks. Having a bookkeeping service available allows you to manage other aspects of your business that attribute to your overall growth. 
4. Minimize Errors Without A Training Gap: Hiring an in-house bookkeeper comes with an initial increase in errors, as well as a prolonged training period. Often, there is an adjustment period riddled with initial errors. By hiring a bookkeeping service to perform your business’s bookkeeping functions, initial errors are eliminated. An outsourced bookkeeping service allows for maximum efficiency on day 1. 
5. Access to Centralized Bookkeeping Software: In today’s technologically-driven age, modern bookkeeping services are performed 100% online through an online portal. This streamlined service allows for information to be accessed at any time, from almost anywhere in the world. In addition to an organized approach to manage your business’s finances, a centralized bookkeeping service allows for expenses to be inputted easily, allowing for information to be updated at an efficient rate. 
6. Avoid Paying Late Bills : Managing a business can be time-consuming, and often, certain tasks get overlooked. Forgetting to pay a bill is a mistake that can lead to further larger consequences for your business. You must have someone monitoring the payments of your company’s bills. An outsourced bookkeeping service has the experience to succeed in this task because it’s their job. Organize an arrangement with the bookkeeper so that they can manage the payment of your business’s bills.
7. Services Tailored to Your Business Needs: Just because a bookkeeping service may have a lower cost doesn’t mean that you will be sacrificing quality. Bookkeepers will bring value to your business by ensuring the delivery of timely and accurate data. Your staff will be able to work with your business’s needs and provide insights on the latest technology and trends that will be relevant to your business’s needs.
8. Plan for the Future: A bookkeeping service will be able to maintain accurate and complete records of your business’s financial statements. This maintenance is extremely important in long-term planning for your business. Bookkeeping services are eager to help you create a strategy to reach your long-term business goals.
9. Avoid Conflicts of Interest: Business partnerships can be tricky. It may be difficult to entrust the accounting functions to just one of the business owners. An owner might find themselves in a situation of having to choose what is financially best for themselves or the company overall. Hiring a bookkeeper allows company employees to wonder about the owners’ intentions, and maintain trust in the truth behind the firm’s accounting transactions. 
10. Create a Long-Term Partnership : Most outsourced bookkeeping service providers are interested in creating a long-term partnership with your business. As your business continues to grow, they have staff with experience that will grow with you. Staying with the same bookkeeping service ensures a deeper understanding of your business and its needs. It is important to recognize the features that bookkeeping services offer when searching for the right one for your business. A great small business bookkeeping service will be able to offer additional services such as an outsourced financial controller or part-time CFO services.

How Can Outsourced Bookkeeping Services Reduce Internal Fraud?

• Divide Responsibilities: When you have just one or two employees handling your books, your company has a higher risk of fraud. The person paying the bills might be the one reconciling the bank account, and because there isn’t a separation of duties, you have just given them the keys to the bank.  They can steal from you and cover their tracks. And you won’t find out until it’s too late. Outsourced bookkeeping services help reduce the risk of fraud associated with your business’s accounting because there is a separation of duties and more rigorous steps taken when providing financial statements for the business. Most outsourced companies have two sets of eyes reviewing each step with different levels of staff working on one account. There are steps taken for one employee to review the others work to ensure there aren’t any discrepancies or errors.

• Restrict Manual Payments: Another common form of fraud is where employees make cash payments and take out more than they need and fail to return the change. Another common fraud scheme is when an employee with check-writing abilities two checks, one in proper payment and one made out to themselves, to pay a bill.

• Review All Reports Monthly: Even if bookkeeping work is done by two separate people, there should be a manager that reviews their work monthly. Fraud can be committed by more than one employee, so having a manager review reduces the risk of collusion in fraud and will allow fake entries to be detected much quicker. When proper controls are in place, this takes little time beyond the work managers should already be doing to monitor the financial health of the company. The manager simply needs to compare the total of the month’s receipts and invoices against the amounts entered in the books, and cross-check both figures against the cash in the bank.

—

Tired of Spending Your Free Time Reconciling Your Books? The Limitless Team is Serving Small Businesses in Gilbert, Scottsdale and Denver.

The Limitless team has been serving the needs of small business owners in Gilbert, Scottsdale, and Denver for many years. Please contact our team to learn more about our outsourced bookkeeping services. Contact us today!

Limitless Investment & Capital is a Certified Quickbooks ProAdvisor Elite!