FAQ

The switch to hiring a professional bookkeeper is typically evoked from an owner’s series of events. It comes when late nights of managing books begin to cannibalize the time needed to focus on their business. Traditionally at this point, the books of the business are already beginning to slip and be incorrect, costing more time and money in the long run. If the burden of bookkeeping is causing obstacles in a business operation, it is certainly time to outsource a bookkeeper.

The most common mistake is generally setting up your books incorrectly from the very beginning. Doing so can lead to a loss of time and money down the road in an attempt to fix mistakes.

Some of the most common mistakes during the set up of bookkeeping we have seen are:

• Set Up – Accounting for cash setup, expenses or loans
• Accounts Payable – Duplicated Payments & not clearing against payments
• Accounts Receivable – Under-invoicing & applying incorrect payments
• Accounts – Opening balances not being correct & linking bank accounts incorrectly
• Reconciling – Not doing reconciliation at all or doing it without diligence and books not matching up
• Chart of Accounts – Incorrect account types / tax codes not matching
• Payroll – Opening balances not being submitted, documentation for payroll set up not being provided, calculating incorrectly for miscellaneous employee benefits / PTO / etc.

There is a multitude of free resources – YouTube Channels, LinkedIn learning and beyond. Beyond doing research and finding the appropriate resources for you and your team, it is strongly recommended to at least consult with a bookkeeper when setting up your books. Getting your books set up correctly from the beginning is important and can save you time and money down the road.

The price of bookkeeping can vary on a wide range of factors. Some examples are:

• How much clean up is required
• Number of transactions
• Number of accounts
• Number of accounts in need of frequent reconciliation
• Number of monthly vendor bills
• Frequency of reporting
• Reporting requirements

These factors, along with many more, are all considered and can cause prices to fluctuate. However, the reason Hullstone takes all of these factors into consideration is because every business is different and we want to make sure we provide the best possible service and provide real value to our clients.

To learn more about pricing you can book your FREE 30-minute consultation today with Hullstone.

Hiring a 3rd party bookkeeper is good for a multitude of reasons:

• Give you back the time you need to focus on your business
• Cheaper than hiring a full-time salary bookkeeper on your staff

It is also important to mention that Hullstone has the pleasure of working with multiple businesses in the same industry which allows us to learn from each of our clients and continue to improve our service, ultimately passing that along to all of our clients.

Traditionally, no. However, here at Hullstone, we believe that they go hand and hand and that is why we include tax preparation as a service offering to our bookkeeping clients. We are the ones that work with you all throughout the year and provide you with the tools and information necessary to make smart tax decisions while you are able. We want to help you find ways to make the burden of tax easier. To learn more about how we incorporate tax into our bookkeeping process call our team today!

Intuit QuickBooks ProAdvisor program is a service that trains bookkeeping and accounting professionals on the use and administration of Quickbooks. Once a bookkeeper or accountant is certified they are now prepared to assist and guide clients through their platform and provide support. In addition, ProAdvisors have a wider range of access to support QuickBooks from the software itself. Lastly, ProAdvisors are also required to take an annual test to maintain their status as a ProAdvisor.

Yes! All of our bookkeepers at Hullstone are Certified and continue to renew their certification every year!

 It sure is! When breaking down the cost to hire someone full time at your company vs. outsourcing, you will save money by finding a good bookkeeper externally annually.

Of Course! Our team has taken clients all over the USA and has all the capabilities necessary to provide our service remotely. We pride ourselves in being able to offer a solution to anybody who needs it!

Hiring a consultant for your business can bring an unbiased perspective on the business’s strengths, weaknesses, and areas for improvement. Hullstone is able to identify inefficiencies that may be overlooked by those who work in the business day-to-day and streamline processes. We can focus on specific areas that may need more attention, allowing your employees to keep up with daily operations and still implement the improvements your business needs to grow.