Simply Bookkeeping

01/31/2025

As accountants, we often hear clients worry about getting audited.

While audits don’t happen too often, they can be very stressful and take up a lot of time.

The good news is, by making sure your business is audit-proof, you can avoid the hassle and save time and money.

Here are 5 simple ways to keep your records clean and compliant.

Remember, the best way to avoid an audit is by keeping your reporting accurate, honest, and well-documented.

Have questions? Feel free to reach out, we’re here to help!

01/31/2025

01/31/2025

Our firm exclusively works in QuickBooks Desktop. If you are currently using QB Online for your bookkeeping, we will migrate you over to QuickBooks Desktop as part of our preliminary tasks.

01/31/2025

How do I share my documents with you?

We will use email to securely share documents throughout our engagement. We also request read-only access to all accounts for which it is available, for easier statement retrieval. Receipt storage & organization is the responsibility of the client, however, we will match receipts that you upload into QuickBooks Desktop Version or QBO to the corresponding transactions.

01/31/2025

When will I receive my reports?

Our work is entirely dependent on information provided by you! Initial project completion timeline will depend on receipt of documentation and complexity of project. We will communicate with you as we go! Quarterly clients can expect reports to be delivered by the 10th of each month, if all information has been supplied in a timely manner.

01/31/2025

What if my bookkeeping is a total mess?

No need to worry! We will clean it up! Anytime we work with a new client, we always begin our work based on the date of the last filed tax return (i.e., if you have filed your 2022 taxes, we will begin with January 1, 2023) and we will clean up any work already performed since that start date. If you do not have any bookkeeping established, we will set up a new QuickBooks company file for you and customize it specifically for your business.

01/31/2025

What is included in my services?

Services are customized to each client based on their bookkeeping needs. Your Proposal and Engagement Letter describe in further detail the Scope and Terms of services.
We do not provide tax return preparation or filing services, nor do we provide sales tax or inventory tracking services.

01/31/2025

Why Hire A Professional Bookkeeper?

Bookkeeping can be a lot of work, especially if you’re an already busy small business owner. Procrastinating and failing to document transactions could lead to bookkeeping work piling up and make your records very difficult to manage. If you find yourself falling behind or feeling overwhelmed by bookkeeping, it’s a good idea to hire a professional bookkeeper who can put in the hours needed to keep your books up to date.

01/31/2025

The Benefits of having a good bookkeeper maintain your books:

Why does any of this matter? If you have a top notch bookkeeper, you'll reap some of the following benefits:

-Better budgeting decisions, knowing exactly where your money is going.

-Peace of mind knowing your books are in order and tax season won't be a scramble.

-Audit-proof business with detailed documentation.

-More hours in your day to focus on your business.

-Understand the seasonal flow of your business.

-Understand the key metrics: revenue, costs, profitability, etc.

01/31/2025

What if I don't have a QuickBooks file set up for my company?
We’ll create a QuickBooks file for you.

What if I do have a QuickBooks file?
We’ll review your QuickBooks file to make sure everything is complete and make any necessary changes for accuracy.

01/31/2025

Quarterly payment due dates for estimated taxes

If you don’t pay enough or any income tax for the year through tax withholding, you’ll need to make estimated tax payments by certain due dates using Form 1040-ES. If the due date falls on a weekend or holiday, the due date is the next business day.

“When are taxes due for quarterly payments? Here are the dates to jot down:

Jan. 15 — Pay your fourth payment of your estimated tax by this due date. You won’t need to make the fourth payment if you file your tax return and pay the entire balance due by Jan. 31.

April 15 —The first payment of your estimated tax is due for the tax year.

June 15 — The second payment of your estimated tax is due.

Sept. 15 — The third payment of your estimated tax is due.

01/31/2025

What is the tax return due date for filing taxes with extensions?

Oct. 15 — If you filed for an extension with Form 4868 to extend the due date of your return, this is the last day to file your tax return and pay any tax, interest, or penalties due.