It depends on the service. To start a business, there are no requirements other than providing us with the necessary information for your new business. This includes the names and personal information of all partners, your business name, and other information depending on the state you wish to register. For any bookkeeping, tax, payroll, AR & AP service, we may need: Access to your accoutning/payroll software or we can help you get set up, your personal information (this may include address, contact information, and SSN), business EIN and business information, previous tax returns, and access to internal documents if AR & AP is needed.
“We service most retail and service based industries. Examples of industries we serve, but not limited to: Arts/Entertainment/Recreation, Agriculture, Automotive, Broadcast & Film, Cannabis, Construction, Design, Ecommerce, Education, Healthcare, Insurance, Legal, Manufactuiing, Oil & Gas, Real Estate, Restaurant and Food Service, Retail, Technology, Travel & Logistics, Telecom, Trucking, and Union industries.
Regardless of the entity type, we can maintain your books and file your taxes. These include: Sole Proprietors, Partnerships, LLCs, S-Cororations, and C-Corporations. We will help file the necessary forms for your entity type.”
“The main difference between accrual and cash bookkeeping is the timing of when revenue and expenses are recorded.
Cash accoutning recognizes these transactions when money changes hands. This means that invoices as income, or bills as expenses do not count toward your financials until they have been settled. This method does not recognize AR or AP. It is also the simplest form of accoutning that the majority of small businesses use to maintain their books.
Accrual accounting recognizes recognizes revenue when it’s earned and expenses when they are billed. It is recorded even if payment won’t be made / recevied for another month. Larger businesses typically use accrual accoutning to have a better representation of their financial activities over the long-term.
Modified Cash-Basis accounting combines both cash and accrual accounting. This is used for the simplicity of cash accoutning but allows more sophisticated accounting to be able to match revnue and expenses with bills and invoices. It is also used to record depreicaiton, deletion, or amortization for long-term assets on the balance sheet. Due to compliance reasons, modified cash-basis accounting is to be used for internal purposes (such as tracking Accounts Receivable, instead of recording a direct sale). When generating reports and financials, cash-basis reports will be delivered.”
We will not touch your invoices or bills as a standard. We also do not recommend using bills and invoices if you are trying to maintain a strict cash-basis accounting method. Generally, Accounts Payable and Receivables are handled by the business itself as it usually has more information available for all their vendors and customers. We can help manage your invoices and bills (AR & AP) only per your direction.
This is an additional service by Kleanbooks that is not part of the standard ongoing or cleanup bookkeeping. We will match payments received or sent that have a perfect match with invoices or bills as part of the ongoing and cleanup process, however entering invoice/bill details and managing customer/vendor information is out of scope for the Ongoing/Cleanup Bookkeeping unless you sign up for our additional service. In order for us to match payments and bills included in our scope, we need your direct co-operation to ensure that things are applied properly. Often times, we cannot magically know how to apply things without information that only your business may have internally.
We only use Xero and QuickBooks Online. The reason for only using these two softwares is because they are the industry standard. This means that if the need to leave our service arises, you can easily switch companies or find a local bookkeeper who can pick up the work. The majority of bookkeepers use both of these softwares and we do not want to restrict you or lock you into our service through special in-house software (like Bench).
You can always call Kleanbooks Customer Support for general questions about our company and service. When you sign up for our bookkeeping, tax, payroll, AR & AP, or business compliance services, you will receive support from our internal teams to help manage these tasks. Often times you will be paired with a dedicated Kleanbooks expert who can help review the services you are paying for.
Occasionally, you will hear from other team members depending on availability, work-load, and specialty of knowledge. If the need for a different dedicated Kleanbooks expert arises, we will review your account and talk to your former Kleanbooks expert to ensure a smooth transition so that all work on your account is still being accomplished. We also offer priority support which will allow your business to receive expidited responses and will receive priority compared to businesses who do not have priority support.
Please visit our pricing page for further details. Our services all have varying levels of pricing and features depending on the package you select. If you only need select services, or if you need certain features not included in your plan, please reach out to our customer service so that we may build a customized plan for your business. Our bookkeeping plans are priced based on Cash vs Accrual Accouting. Furthermore, we have monthly and annual pricing. Our annual pricing is cheaper on a month-to-month average but requires a lump-sum payment.