Choice Financial Strategies, LLC

Who Can Benefit?

CFS provides outsourced bookkeeping services to small, mid-sized and fast growing companies, as well as individuals.  We are committed to providing quality customer support, while delivering services in a timely, efficient and precise manner.  

Maybe you only need a part-time bookkeeper for your business and don't wish to add this position to your employed staff, or you are having difficulty finding and retaining qualified help.  Maybe you are a busy individual who doesn't have the time or energy to track your own financial records. Outsourcing this "part-time" need can provide an excellent solution. CFS offers a competitive rate, as well as superior service, while also providing flexibility in adjusting the level of service to meet the seasonal needs of your business.

Services Provided

During a no charge, no-obligation consultation we can determine which of the following services would be useful for yourself or your business:

• Invoicing (Accounts Receivable)

• Bill payment (Accounts Payable)

• Account reconciliations

• Monthly financial statements (Profit & Loss, Balance Sheet, Trial Balance, General Ledger, Cash Flow)

• Payroll & Payroll deductions

• Monthly / Quarterly tax remittances

• W2's/1099's

• Inventory tracking

• Personal bookkeeping

• General financial organization

• Preparation of yearly tax filings (in conjunction with your accountant)

• QuickBooks support and training

Initial consultation

During the initial consultation we will complete an Interview Questionnaire to determine what you have done in the past and what needs to be done in the future.  We will outline:

• Whether services will be conducted on site or off site (remote);

• An estimate of the number of hours spent on services each week;

• Contact persons;

• Software systems to be used;

• Any other expectations you may have.

An Engagement Package will then be given to you for your review and signature. It will include our agreed upon terms, services scope, a personalized fee schedule, and an outline of documents and information you will need to provide.

To Get Started

Before we begin, you will need:

• A Business name

• A Federal ID number (FIN), Employer ID number (EIN), or Social Security number

• Historical documents from start date to current date

• When beginning payroll services, you need to obtain Worker's Compensation Insurance before the employee begins work, as well as a completed W-4 and I-9, and a New Hire Reporting Form. 

To begin the process you will need to:

• Obtain checking, savings, and credit card statements from date recordkeeping begins.

• Compile customer and vendor contact information and balances, if applicable.

• Compile employee information (including name, SSN, address, birth date, pay rate, benefits and tax information).

We will then create a QuickBooks company file for your company and services can begin.

Ongoing Process

On a predetermined date and time, we will pick up your data or come to your location and input it into the system.  Please note that documents will be returned along with financials on a pre-determined frequency, along with checks to be signed, customer invoices to be mailed, etc. At this time we are not prepared to offer document file storage.

At tax time, you will be provided with either a CD containing tax data or paper financials for your tax accountant/preparer. 

Our Advangtage

Lower costs

Outsourced bookkeeping can provide services at a fraction of the cost of hiring a full-time or part-time bookkeeper. By using our bookkeeping services you can replace the wages, payroll taxes, fringe benefits, worker’s compensation insurance, employee training and management, accounting software, office space and other costs associated with an in-house employee.

Your CFS bookkeeper functions as an independent contractor/consultant, so fees are also tax deductible for your business.

We are not designed to replace your current CPA, but to serve more as a liaison between the business owner and the CPA.  However, year-end work can be significantly reduced resulting in lower CPA accounting fees and faster turn around time in preparing tax returns and financial statements.

Professional Work

Your CFS bookkeeper will have professional training in the most recent version of QuickBooks, as well as access to older versions of the software.  By outsourcing your bookkeeping services to us you can ensure that you have a knowledgable professional working for you. 

Flexibility

With flexibility and a variety of services offered, you will find that our bookkeeping services can be customized to meet all of your needs. You can choose from one area of service, or sign up for full charge bookkeeping services.  At any time you have the option of increasing or decreasing your services needed to coincide with your business growth or any seasonal changes. 

What is this?

Bookkeeping Fees

You will be billed in simple-to-understand hourly rates based on portions-of-an-hour or full hours. Fees are based on the actual time spent in account setup, data entry, preparation and delivery of your financial records. With this kind of a fee structure, you pay only for the time we work with you or for you. Services are flexible, and different options can be added or eliminated as your needs change. 

The initial consultation is provided at no charge. A retainer fee equal to 5 hours of work ($100) is required of all new bookkeeping clients, to be remitted with the Engagement Package. Once work begins, you will then be billed on the 15th and last day of each month, with payment due within 10 days.  Payments are accepted in the forms of cash or check.

The current hourly rate for bookkeeping services is $20/hour.