Bookkeeping and Accounting Services for PROFESSIONAL FIRMS

Bookkeeping and accounting services for professional firms from $80 per month

Here, at Bean Counters Erin Hills, we offer our bookkeeping services to businesses classified as professional services. The list of these professions is long, with one similar requirement of a license to permit practice in public. Some professional companies usually do not have physical inventory to sell. If they do, the inventory will consist of complementary marketing products only. Other professional companies offer their services and sell supporting products to their customers. That would require managing their inventories. Professional service providers charge their customers based on time length and costs incurred while using their professional equipment.

For many professionals, QuickBooks Online is ready to use without additional customization of reports or creating journal entries. For some professions we might recommend using Sage Intact, since this web solution is PIPEDA compliant. This security regulation applies to lawyers, dentists, medical doctors, or any businesses that require storing detailed personal information of a customer that is sufficient to use to identify this person. We often compare QuickBooks Online with Sage Online bookkeeping solutions. In most cases, it is just a personal choice of choosing the solution. For a few dollars more, Sage might offer extra features worth considering.

Can you use QuickBooks Online to manage your firm?

The most known specifics of professional services that QuickBooks Online includes:

  • Creating customer payments

  • Scheduling customer payments

  • Processing insurance reimbursements (medics)

  • Creating trust accounts (lawyers)

  • Tracking different sources of income

  • Time tracking

  • Creating budgets

  • Tracking costs on a transactional level

  • Grouping costs by locations

  • Tracking holdbacks (retainage)

  • Maintaining customer record

QuickBooks Online Capabilities

Businesses offering professional services:

  • IT professionals

  • Day-care service providers

  • Consulting professionals

  • Hairdressers, barbers, and nail technicians

  • Lawyers

  • Medical practitioners

Other professional service providers (some specific to rural areas): tourist agencies, marketing agencies, real estate agents, garbage removers, metal recyclers, providers of portable sanitation, septic system providers, gas and fuel providers, water well providers, landscaping services and snow plowing services, window cleaning services, duct cleaning services, sign making services, dog and cat sitting services.

Professional Business Sector

All these professions adhere to their own rules and regulations but in a heart-core, the setting up Chart of Accounts in QuickBooks would follow the creation of generic accounts and choosing appropriate bookkeeping software version. In some cases, we suggest the integration of 3rd-party software specific to a particular industry.

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 business over the Internet we work with Zoom, Skype, or Teams.