Frequently Asked Questions
We know for many people, anything dealing with finance and
bookkeeping can seem daunting. You may have many questions
and you need answers. We’d like to help you along the way.
What are the benefits of outsourcing my books?
Bookkeeping is a necessary function for any business with any level of success. There are several benefits of outsourcing your bookkeeping needs such as:
Focus on Growing your business – Outsourcing allows free time to build your business focusing on your core operations and your customers instead of spending long days and late nights doing bookkeeping tasks.
Cost Effective – A qualified professional can provide bookkeeping services without additional expenses related to employee’s health insurance, sick time, vacation time, retirement benefits or payroll taxes The Standard employees cost more to employ than outsourced contractors.
Saves Time – by leaving financial reporting functions to subject matter experts you can alleviate the stress of trying to do the books yourself.You can save time and energy with outsourcing and spend that time with family and friends instead.
Access to Team of Experts – Outsourced Accounting professionals will give you access to best practices, latest software technology, and business strategies ensuring your business stays up to date with industry standards.
Scalability – As your business grows or downsizes you can increase or decrease your engagement ensuring you only pay for the service you need.
Back Up & Recovery – With an outsourced Bookkeeping using state of the art cloud based systems, you’ll be more prepared than ever for an IRS audit.
What software do you support?
Currently the preferred accounting software is Quickbooks Online and Xero.
Do you offer consulting services?
Yes, contact us so we can discuss your specific needs and how we can serve you.
Do you replace my need for a CPA?
No. Stellar Ledgers recommends small businesses retain a CPA who specializes in taxes for tax return preparation, tax planning and tax audits. Our Virtual CFO service is a compliment to your CPA or tax professional Stellar Ledgers can collaborate with the CPA during tax season by providing required financial reports used to prepare and file all required tax returns.
I have multiple businesses, can you still help me?
Yes, we will work with you to assess your financial service needs and develop a customized package mutually acceptable to all parties.
Do you help with invoicing or payroll?
Yes as part of the new client set up process we will assist with customer invoicing and also as part of the Accelerate and Amplify packages management of accounts receivable is available along with ongoing advisory services and Quickbooks support.
We recommend cloud-based payroll solutions for payroll needs due to the time-sensitive aspect with getting paychecks timely as well as the deadlines for tax payments and tax filings. We can collaborate with small business owners who elect to process their own payroll and tax payments and tax filing. Outsourcing to a dedicated payroll service lifts a huge burden from the small business owner’s shoulder so you can concentrate your efforts on the more important corporate aspects of growth and development.
We can assist with selecting a cloud-based payroll service if one is not already being used. Most full-service payroll service options include quarterly and annual payments and filing of employment tax returns to federal, state and local agencies.
Who will be servicing my account?
Senior, managing member of the firm with oversight of any applicable team members.
Do you provide audit and tax services?
No Stellar Ledgers is not a CPA firm and does not provide attestation services such as reviews, audits or compilations. SL does not offer tax preparation services. We recommend that you separate your bookkeeping from your taxes. Stellar Ledgers is a boutique firm offering bookkeeping and financial reporting services to clients however we can offer assistance on your selection process for audit/tax preparation providers. Our bookkeeping services are designed to help small business owners from a financial reporting perspective.
Stellar Ledgers believes a firm that only concentrates on bookkeeping and financial reporting & analysis is much more focused and specialized than a firm that offers multiple services. When you work with a firm that only does bookkeeping you should get a much more powerful bookkeeping system compared to other services. Although we have CPAs on staff with audit and tax experience we have focused our offering on financial reporting services customized to our small business client.
Do I need to fix my books before coming to you?
If your books require clean-up work SL can provide this additional service. Pricing depends on the volume and nature of the cleanup work.
Do you service businesses with under 100k in revenue?
During the start-up phase of your business the activities related to ongoing financial transactions may be limited allowing the business owner to take a do it yourself (DIY) approach or to consult with a Accountant on an as needed basis. We believe it is at the $200k -$250k revenue level when business owners seek to delegate accounting functions to experienced, qualified professionals to free their time up to concentrate on the core operations.
What is the process to get stared with you?
The process begins with scheduling a complimentary strategy session and completion of the new client intake form. During this call, we will discuss your business needs in more depth and answer any questions. When you are ready to move forward the next step is to secure a one month retainer, review and approve a customized service agreement and onboarding checklist to begin services.
Invest In Your Business Today
Stellar Ledgers is more than a bookkeeping service, we have the expertise to provide value-added feedback and advice on the financial health of your business and this data is so vital that with it can sustain your growth or without it can lead to insolvency.