How soon can I expect my financial reports in the first month?
While our goal is to provide your financial reports on the first business day of the new month, this rarely happens during our first month working together. Due to many circumstances outside of our control, it is difficult to answer this question for the first month. It may be necessary to clean up or catch up on months of data at first. Clients often have other priorities resulting in delays in providing us with necessary actions or information. Sometimes third parties can impact our ability to process data. Late payments from clients will also impact the delivery date. Whatever the case, every month, unless unexpected things happen out of our control, we will make improving on the previous month’s delivery date a high priority as we work with you to reduce it to one business day.
How do you determine your pricing?
Pricing is determined by several components:
*Service Package – We offer three levels of service with three levels of pricing. The highest is the Gold package, followed by the Silver, and finally, the Bronze package.
*Cash Basis Sales – Depending on the level of service package, a specific percentage is applied to cash basis sales for that month. This incentivizes us to help increase sales for our clients. Additionally the percentages are tiered such that as sales increase, the percentage decreases.
*Cash Basis Profit – Depending on the level of service package, a specific percentage (5%) is applied to cash basis profit for that month. This incentivizes us to help increase profit for our clients. This portion of the fee is relatively small compared to the portion related to cash basis sales.
We will be happy to provide an estimate of pricing. While our pricing approach differs from most bookkeepers, you will find the amount to be competitive within their general range.
What are the differences between the levels of service?
- Bronze – CFO services focused on increasing the value of your business and its profitability.
- Silver – Bronze level services + Controller services focused on managing the bookkeeping function to provide accurate financial statements on a timely basis.
- Gold – Silver level services + Bookkeeper services focused on efficiently and effectively performing the bookkeeping function except for tax and payroll services.
What differentiates First Day Bookkeeping from other bookkeepers?
While all bookkeepers should provide accurate financial statements, we also make the goal of providing monthly financial reports within one business day following month-end a priority.