Frequently Asked Questions
Nonprofit organizations can keep their own books. Often a volunteer or Board member who can operate the software is assigned the task. A bookkeeper, however, is trained in accounting principles and best practices, as well as the software. A professional bookkeeper can save many organizations money by keeping up with the bookkeeping more frequently than most volunteers do (giving the ability to act and react more timely), by increasing efficiency in business processes, by giving advice based on analysis of financial reports and reducing the billable time charged by the accountant.
Many organizations do have employees to do the bookkeeping, especially large organizations that can afford in-house accounting staff. It is usually more cost-effective for organizations to outsource bookkeeping due to the many costs involved in hiring employees. Some organizations have their clerical staff do bookkeeping, but they lose out on the expertise and insight of a professional bookkeeper.
Your financial software and data are stored on a “cloud” drive. You have access to the software via the internet to pay bills, send invoices, and make deposits. We have access to the software to correctly categorize your transactions, reconcile the bank accounts, and prepare financial reports. We will meet once a month by video to go over your financial reports and answer any questions.
If you have a bank account, your financial information is already stored in the cloud. I use bank-level encryption on all client accounts, so your information is just as secure with Books By Rachel as it is with your bank.
I am available to walk you through basic troubleshooting problems you may have, primarily by Zoom but, if requested and initiated by you, I can access your computer to walk you through solutions or point you to where you can get technical assistance.
Our written agreement runs on a month-to-month basis. You can terminate my services at any time.
Organizations are different. They have vastly different transactions, procedures, and needs. I meet with prospective clients to determine the scope of services and prepare a personalized proposal. Generally, you should expect bookkeeping services to account for about 2% of annual revenue. Request package & pricing information HERE
We can talk about it during the consultation. I may be able to perform additional services at an hourly rate.