Bookkeeping is tedious, time-consuming, and confusing; but it is a necessary evil so you can gauge the performance of your business. The information from your books allows you to make projections and strategic decisions for the company.
Whether you own a small business, startup, or a budding construction firm, monthly bookkeeping can significantly save you time and money, and more importantly, prevent you from facing financial issues down the road.
Of course, being a startup founder or an entrepreneur means you’re already wearing different hats, and for many, updating their books each month would be next to impossible. Here’s the good news: you don’t have to do it alone! If you need help, our team of bookkeepers at Miplly can take care of your monthly bookkeeping so you can focus more on running the business
Your numbers tell you a lot about your business – it helps you determine where your company is standing and where it’s possibly heading. Do note, however, that data will only be reliable if your records are properly maintained. That is why monthly bookkeeping is crucial for your business.
Having your financial records organized, it will be easier for you to review your income and expenses, which you can use as a basis for establishing a budget. An accurate budget is a key to financial stability and your company’s success. It helps you monitor cash flow, cut unnecessary costs, and plan out expenses for future growth. You will be left doing a lot of guesswork in creating a budget if you don’t keep your books updated.
Is filing taxes always a huge burden? With your books kept up-to-date each month, you won’t have the IRS breathing down your neck come tax time. You will have the correct financial information to hand over to your CPA, making filing taxes faster and much simpler. Don’t wait for the end of the year to reconcile your books. If are hardly keeping up and are months behind, our bookkeepers Miplly can help you sort your financial records and catch up in no time.
Updating your books to the last second means there’s a high risk of making mistakes and missing deadlines. Even the most seasoned entrepreneur may commit errors if their books aren’t periodically updated. These discrepancies on your books could trigger an audit with the IRS and result in expensive fines. An experienced bookkeeper helping you with monthly bookkeeping will prevent these mistakes and keep you on the right side of the law.
Almost all companies have the objective to grow, but poor record-keeping can slow down growth and even hinder it from happening. Having precise data readily available helps you map out your business goals more accurately.
As the old saying goes, “cash is king”. No doubt having money on hand is highly valuable because, without it, your company cannot purchase inventory, pay for its staff and run operations. To simply put, without cash, you won’t have a business. With monthly bookkeeping, you can monitor where and when cash is moving in and out of the business. A reliable bookkeeper can help you track your company’s receivables and payables and ensure these transactions are correctly categorized in your books.
When you work with Miplly for your monthly bookkeeping needs, our team will get to know you and your business first. This will help us determine where you require support so you can take advantage of the services that we offer. From this stage, we strive our best to gain your confidence in us to handle your financial records and provide solutions for your needs.
After you sign up with us, we will assign you with a dedicated bookkeeper who will be your point of contact. We will also set up your account so you can access your Miplly dashboard. Here you can connect your bank account so your assigned bookkeeper can download your transactions and go over your expenses. You can also directly chat with your dedicated bookkeeper on the dashboard if you have any queries or would like to set a meeting.
Of course, you also need to send your receipts and other important documents to your bookkeeper. There’s no need for you to send these via mail as you can conveniently upload these transaction records on the Miplly web application.
After account setup is complete, when you log into your dashboard, you will always be greeted by an overview of your business finances, including balances, graphs, trends, and any alerts from your personal bookkeeper.
Every month, your books will be compared with your bank and credit card account statements, and any adjustments needed will be made to ensure your financial reports are accurate and you are ready for tax season!
You’ll be able to log into your account and see all your current balances of linked bank and credit card accounts right on your dashboard. One location, one login for all.
Use the reporting tab in the menu on your dashboard to see your monthly, quarterly and yearly financial reports.
Use the reporting tab in the menu on your dashboard to see your monthly, quarterly and yearly financial reports.
Use the reporting tab in the menu on your dashboard to see your monthly, quarterly and yearly financial reports.
While this task is necessary to stay in compliance with IRS guidelines, it can be a task that raises a lot of questions: Should I or shouldn’t I 1099 this or that vendor? No worries, we got your back. We will generate, send out, and file these forms for you.
If you’ve fallen behind on your books, don’t let this stress you out. This aspect of our service will not only help you get caught in no time, but will also save you money with the IRS. On average, we’re able to bring your books up to date within 2-5 weeks.
Having an accountant on your side will take your business even further, saving you from potential financial pitfalls. We can connect you with a trusted accountant who will not only advise you but will help you by getting your taxes filed.
At Miplly, we understand that you have a lot of things to do and prioritize besides keeping your books updated. And the last thing we want is for you to run into trouble just because you don’t have enough time for proper bookkeeping – this is where our team comes in.
With a dedicated bookkeeper and a team of accountants on your side, you can be certain that your books are kept accurate and up-to-date.
Through the Miplly dashboard, you can generate monthly, quarterly, and yearly financial reports, review your records and analyze your company’s performance anytime and anywhere.
The best part about working with us is that you only pay for the services that you need and when you need them. Our high-level bookkeeping services are designed for small businesses, startups, and construction firms who don’t have the budget yet to pay for full-time staff.
As your company scales, Miplly also grows with you. We can deliver the financial services that you require no matter what stage you are in the business.
Give yourself a break. Let our team at Miplly assist you with your monthly bookkeeping needs. We’ll take care of your books so you can focus on what is more important for your business. Start your 30-day free trial today!
We specialize in helping businesses achieve financial freedom through strategic tax solutions. Our expert team navigates complex tax laws, minimizes tax liabilities, and maximizes returns. Trust us for reliable and results-driven tax & accounting services that put you on the path to success.
