“The best preparation for tomorrow is doing your best today.”
– H. Jackson Brown Jr.
Basic services get you by.
Reactive services bring awareness.
Proactive services make dreams reality.
Ascent works to understand your specific needs and balances the finer details of today with your bigger picture goals of tomorrow. Properly recording your financial transactions will best prepare you for your future – so let Ascent take care of it for you!
With bookkeeping services ranging from recording transactions to reconciling ledger accounts, our team of professionals will assist in keeping your records in a way to keep your business running smoothly so you can grow it with confidence.
We will do so in a way that is cost-effective, compliant, and informative. Guaranteed.
Contact us to discuss your bookkeeping needs and see how Ascent can best prepare you for success.
There are many functions in a business’s recordkeeping eco-system. Generally:
- Administrators accumulate day-to-day documents which are provided to the bookkeeper for recording.
- Bookkeepers record the information in your accounting software. They may even print checks or generate reports for your review.
- Accountants often reconcile bank accounts or help you, the owner, interpret your financial reports.
- Owners are responsible for protecting your business from theft or loss. You sign the checks, authorize bank activity, and review financial reports.
- All documents are returned to the Administrators for safe keeping.
Follow this chart to help clarify what you can expect for an appropriate recordkeeping system. Contact us to help build an eco-system for your unique needs.
Which business size are you?
- Typical # of Employees
Your likely needs
For an appropriate recordkeeping system
- Due diligence
- Admin support
- Financial reporting
- Owner review
- Expected cost
- DIY or Remote Assistant
- Monthly to Bi-weekly
- $750/mo – $2,900/mo
- Part-time Assistant
- Bi-weekly to Weekly
- $3,250/mo – $7,600/mo
- Full-time Assistant
- Weekly to Daily
- Weekly to Daily
Bookkeeping is one function of your recordkeeping eco-system.
Like sales and marketing, it is one of the necessary and pivotal functions in business. Specifically:
- It tracks customer payments which completes the sales cycle.
- It helps you pay your vendors, such as marketers and contractors so you can operate.
- It helps keep documentation secure and retrievable for when you need it.
- It sets the stage for accounting, which evaluates trends and makes projections so you can anticipate growth or scale-back when needed.
Bookkeepers can perform a wide array of tasks within your recordkeeping eco-system. Ascent has built our bookkeeping services to match your business needs. Below are the services we provide to business owners who want an appropriate recordkeeping system that is both budget-friendly and appropriate for your business.
Designed for your business
- Virtual & secure
- Cash-basis recording
- Accrual basis recording
- Collect customer pmts
- Pay vendor bills
- Initiate bank transfers
- Reconcile bank accounts
- – Timely delivery
- – BS, PL, GL
- – AR, AP
- – Custom, class, etc.
Not sure what you need? Not a problem! We’d love to help you adopt a recordkeeping system that is appropriate for you and will deliver the information you need to make your dreams a reality. Contact us to get in touch with one of our team members.
Examples of Bookkeeping:
Monthly Reports Example
What is AR management?
What is AP management?
Frequently Asked Questions
At a minimum, if you are a one-person-shop, you should expect to spend one full day a week on bookkeeping. The more appropriate question is:
- What’s your day worth to you?
- Any dollars spent on bookkeeping, less than what you value your days’ worth, is money well spent.
Because bookkeeping is recurring (and produces highly valuable information) it is one of the first tasks often delegated in business. When delegated:
- Very simple businesses can get away with off-site bookkeeping as low as $75/week.
- A small business can hire a part-time employee to perform these functions at $27.5k/yr + benefits.
- An enterprise level businesses can spend as much as $350k/year on bookkeeping.
- Yes, you can. Just know you are responsible for overseeing the bookkeeper. Inexpensive bookkeepers at $20/hr often lack the knowledge to identify errors within their work. Therefore, you are responsible for overseeing the bookkeeping and making corrections to their work when needed. If you are not an experienced accountant, as well as an expert in the software they do the bookkeeping in, you put yourself at risk… A potentially very costly risk.
- Inexpensive bookkeepers can be a good option if they fit within your business’s operating plan. We suggest you speak with an accountant who can help you structure your system to accommodate a $20/hr bookkeeper AND teach you how to oversee their work OR be the oversight in your place.
We suggest you do a thorough cost/benefit analysis of your business.
A couple things to consider:
- Do you need to report your income and deductions to the IRS?
- What are the goods/services you sell and what’s the likelihood of legal issues?
- Consider your future plans. Are you growing? Do you want to hire an employee?
- If any of these answers are yes, then bookkeeping is a VERY good idea.
- Give us a call. We can help you decide if it’s necessary for you or not.
Bookkeeping is truly the foundation for managing your business. It keeps everything in working-order. When built correctly, bookkeeping shows you how well your business is operating and delivers information that helps you make informed, conscious, and intentional decisions. It delivers peace-of-mind and intention behind everything you do.
Bookkeeping is the day-by-day recordkeeping and supports the accounting and decision-making functions.
Accounting is the accumulation of information to help you make better, informed decisions. Accounting often includes reporting and analyzing information to help you run your business.
Accountants often have the expertise to build an appropriate bookkeeping function unique to your business and will often oversee the bookkeeper’s work.
Does bookkeeping get in the way of you selling/running/growing your business? If the answer is yes, it’s time to hand-off the bookkeeping function.
We utilize select cloud-based tools to help us do our job. We’ll set you up with these systems. Often, you simply must forward emails, scan/upload documents, or take photos with your phone. It’s that simple!
“Zeb is a thorough business advisor. I am grateful for the insights he was able to uncover throughout the advisory process.”
“The team at Ascent has been an asset in streamlining our business accounting. They have been extremely helpful and responsive. I would highly recommend hiring Ascent for your accounting and business consulting needs.”
“Very satisfied. I met with Ascent and in just one meeting we re-strategized my efforts. I’m way more confident as an owner/operator and the future because of Ascent’s insight.”