Bookkeeping and Accounting Services for INFORMATION TECHNOLOGY

Bookkeeping and Accounting Services for Hi-Tech companies

As former IT professionals, we know this industry inside and out. Now, we can use our CPA knowledge to support the financials of the Information Technology industry. We offer bookkeeping, accounting, and tax planning services to help IT companies in all stages of their business growth - from startup to maturity.

IT projects are unique by nature and can be compared with those in the construction industry. As such, the accounting solution must satisfy all the business needs that might arise when implementing IT projects. Whether the project's timeline is short or long, and regardless of the number of sub-projects coming in any order in an agile environment, the transactions in books must be complete and reflect all the financial aspects during the project. For many professionals, QuickBooks Online is ready to use without additional customization of reports or creating journal entries. That is also the case for Hi-Tech companies except for creating intangible assets and investments accounts commonly used in the Chart of Accounts in the Hi-Tech industry.

Can you use QuickBooks Online to manage your IT firm?

Can QBO handle the complexity and unpredictability of the IT project? Yes, it can. QBO provides necessary functionality, such as:

The most known functionalities of IT services that QuickBooks Online cover:

• Creating customer payments

• Scheduling customer payments

• Maintaining customer record

• Creating a project

• Tracking time for a project

• Tracking different sources of income (ITC and SR&ED credits)

• Creating budgets

• Tracking costs on a transactional level (by a project)

• Grouping costs by a project

• Daily and management reporting plus custom-made reports

QuickBooks Online Capabilities

What about inventory? QuickBooks Online supports the basic functionalities of the inventory module, including the re-order feature.

What if the built-in billing capabilities of QBO are not enough? QBO integrates with 3-d party software, such as ClockShark Time Tracking suitable for field service industries.

QuickBooks Online + dedicated professional software

Bookkeeping and Accounting Pricing for Professional Services Firms

Based on our standard pricing list plus optionally 3rd party professional software subscription. Depending on the choice of the software, additional charges will apply for periodic data transfer into QuickBooks Online.

Reach us by email or phone to book an appointment. If you would like to discuss your bookkeeping, accounting, or tax requirements over the Internet we work with Zoom, Skype, or Teams.