Bookkeeping, answered plainly

What's the difference between a bookkeeper, an accountant, and a CPA?

While they are often conflated with each other, they are distinct links in a chain. The bookkeeper builds and maintains the books: every transaction categorized, every account reconciled, statements produced monthly. The accountant then interprets that record to provide insights. The CPA, a state-licensed accountant, files taxes, provides tax advice, and can represent you before the IRS.

Each of these links is dependent on the previous link; messy books make inaccurate insights, inaccurate insights make for poor advice from CPA and, worse, inaccurate tax filing. On a best case, one of these links will catch discrepancies - at the cost of time and money for you, the business owner. Trifonov & Co is the first link, and the commitment is to the standard that keeps the chain sound: every account reconciled to its statement, every transaction categorized, and anything that cannot be resolved flagged to you in writing rather than quietly buried.

Do I really need a bookkeeper for a small business or LLC?

Legally, no. Doing it yourself is allowed, and, frankly, if your books are current and not eating your evenings, you can keep going. The difference is when you begin to analyze performance. Ask yourself:

• Do you know last month's profit?
• What ate your bottom line last month?
• Come tax season, are you in a spreadsheet safari looking for your financials?

A yes to any of these questions means the DIY approach is already more expensive than an outsourced one.

What does monthly bookkeeping actually include?

Every month, your bank and credit card accounts are reconciled against their statements, every transaction is categorized, and a P&L + Balance Sheet are delivered to you, ready for analysis. At year-end, your CPA receives clean, organized financials to use for your tax filings.

What is catch-up bookkeeping?

A one-time reconstruction of books that fell behind by months or years. Statements for the missing period are gathered, the transaction history is reconstructed and categorized, every account is reconciled, and the fee is fixed before work begins. Full write-up on the catch-up page.

How much does bookkeeping cost?

The costs of bookkeeping are dependent on your needs, but they are always flat, monthly rates. Our current preset options are:

• Essentials from $399 a month
• Growth from $799 a month with payroll and higher volume
• Tailored for anything bigger or unusual.

The price moves on four inputs: accounts, transaction volume, payroll, and the current state of the books. There is no hourly billing unless explicitly negotiated by you. The full reasoning is in the pricing guide.

Do you do taxes?

No. I maintain the books; your CPA files from them. Any bookkeeper who casually says yes to this question deserves some suspicion. Clean, reconciled books are usually the missing half of tax season anyway; get them right and filing becomes dramatically easier. No CPA yet? No worries, your books will be ready for whoever you choose.

How does online bookkeeping work?

Bank and credit card feeds connect to your software of choice - QuickBooks Online or Xero - subsequently, statements move through a secure channel to load every transaction to your online file. You keep ownership and access of the file the entire time, and communication runs primarily on email with scheduled calls when necessary. Usually, clients see their bookkeeper fewer times than they do their dentist, and remote does not change this; in fact, remote allows for far easier communication and data transparency between client and bookkeeper.

What software do you use?

Primarily QuickBooks Online, and Xero, if a client insists. Regardless of choice, I am certified across both, so you can rest assured the rigor will be the same in either. A messy or nonexistent file is not a blocker: the online file can be built or rebuilt properly, from chart of accounts to bank feeds to workflows.

What do you need from me to get started?

Three things. Access to your accounting software - if any - or the file gets created fresh. Bank and credit card statements for the prior period or two. One short call to understand how the business runs. Once these are completed and you are onboarded, your part of the job becomes answering the occasional "what was this charge?" email, as well as uploading supporting documentation for transactions in order to adhere to bookkeeping standards. Most clients spend at most an hour per month on it.

How fast can you start?

By the end of the discovery call, you will receive a verbal quote, which will be followed by a written proposal within 48 hours of the call. Onboarding takes a week or two: connecting accounts, reviewing what exists, setting up the file. The pace depends mostly on how quickly access and statements arrive from your side. Catch-up projects get their own timeline in the proposal.