Accounting Clarity™
Account Clarity’s comprehensive accounting and outsourced bookkeeping services are designed to help you with every aspect of your company’s finances. Our online virtual-driven bookkeeping services give you record to report (R2R) access throughout the management process.
We collect, process, and deliver timely and accurate bookkeeping information to help you develop business strategies. You can also gain financial and operational feedback to better understand how your company is performing.
Multi-Faceted accounting and bookkeeping Services
Our accounting and outsourced bookkeeping services cover three main areas of your finances:
- Accounts payable and receivable management
- Daily sales reconciliations
- Preparation of bank deposits
- Accounting and payroll record management and organization
- Expense reimbursements
- Payroll preparation (using outsourced services)
- Maintain chart of accounts
- Comply with basic local, state, and federal government reporting requirement (including sales and use tax returns)
- Monitor fixed assets
- Maintain the petty cash fund
- Monitor cash balances and cash forecasts
- Maintain accounts receivable—prepare invoices and monitor collections
- Maintain accounts payable and process payments on a weekly basis
- Maintain liability accounts including but not limited to payroll liabilities, 401k, credit cards
- Reconcile bank and credit card accounts on a monthly basis
An Accounting Clarity outsourced controller has the industry and financial experience to help you focus on the critical aspects of your business instead of dealing with the day-to-day finances.
We provide targeted accounting and outsourced controller services that guide you through budgeting, forecasting, tax management, and complex accounting issues.
With an outsourced controller, you can make clearer business projections, develop key metric benchmarking and trend analysis, and make improvements with financial processes—all by utilizing our QuickBooks and virtual accounting services.
Our outsourced controller services include:
Month-end close
Manage capital requests
Monitor debt levels, compliance with debt covenants
Calculate variances from budget and report issues
Comply with government reporting requirements
Oversee operations of accounting department
Oversee accounting operations of subsidiary corps.
Recommend benchmarks against which to measure performance of company operations
Calculate and issue financial and operating metrics
Manage production of annual budget and forecasts
Provide for a system of management cost reports
Provide financial analyses as needed
Oversee employee benefit plans
Our professional outsourced CFOs can assist your company in overcoming barriers for growth, as well as supply and implement systems, processes, and strategies that accelerate and sustain your company in the future.
We can help you with essential accounting components such as strategic forecasting and planning, precise and accurate financial reporting, and raising and structuring capital. From capital structure or M&A, to risk management and efficiency analysis, our outsourced CFOs can help develop a plan that brings your company one step closer to meeting its financial objectives.
Our outsourced CFO services include:
Monitor and direct implementation of strategic business plans
Assist in formulating company’s future direction and supporting tactical initiatives
Develop financial and tax strategies
Develop performance measures that support company’s strategic direction
Supervise acquisition due diligence and negotiate acquisitions
Maintain banking relationships
Represent entity with investment bankers, investors
Report risk issues to audit committee
Maintain relations with external auditors
Maintain appropriate insurance coverage
Customer Testimonials
Online Virtual and QuickBooks Accounting
We provide clear and accurate online statements and reports of all your business transactions that you access anytime through our virtual portal. We offer helpful visual reports so you can view your company’s financial health at a glance.
Through QuickBooks, you can maintain control of your cash flow and financial assets. Accounting Clarity can help you stay on top of your revenue, expenses, and profits over time. Knowing where your money is coming from and going to is the first step to making smarter business decisions.
Contact Accounting Clarity
Accounting Clarity offers complete accounting and outsourced bookkeeping services designed to help modern businesses. We utilize modern accounting methods and online tools to give you more accounting and bookkeeping options.
If you are ready to move forward with your accounting and outsourced bookkeeping services, contact us today. Call us at 952.893.9320, or message us on our contact page.
Accounting Clarity Partners
GET CONNECTED
To learn more about how we can help, contact us by phone at 952.893.9320 or email us.
Accounting Clarity FAQs
An outsourced bookkeeper works with you on a part-time or full-time basis for an agreed time period. They assist you with tracking financial transactions into your accounting software. This gives you a broad level of accounting capabilities without having to hire a person directly into your company—avoiding the related costs of recruiting, employee benefits, training and work equipment.
Often, the owner of a small- to mid-size business is running the business while also doing the bookkeeping or managing the bookkeeper. Our outsourced bookkeeping and accounting services keep you focused on what you do best—running and growing your business, while we focus on what we do best—accurate accounting, recordkeeping and reporting. Outsourced bookkeeping services save you recurring expenses such as employer payroll taxes, employer benefits, compensation insurance and other costs associated with hiring and keeping employees on staff. In addition to the cost savings, you save time managing turnover and training the in-house bookkeeper. With outsourced bookkeeping services, you only pay for the actual accounting work and nothing else. You also gain a knowledgeable professional on your team who will keep your books up to date and provide desired reporting on a monthly basis.
Our fees are based on the volume and complexity needed for each client. We work with you to establish the scope of services needed, and then settle on a fixed monthly fee based on the services expected.
When you engage our outsourced bookkeeping services, we assign a dedicated Accounting Specialist to your account. This individual works with you to understand your business and processes and is responsible for servicing your account.
Depending on the level of accounting services you are looking for and your needs, we can also provide your account with a senior accounting specialist, outsourced controller or outsourced CFO. The higher levels can provide reviews, KPIs or additional analyses as warranted.
By using an outsourced bookkeeper, you eliminate the costs of hiring and training an in-house bookkeeper which occur every time they switch positions. The turnover in a bookkeeping position is often high. An outsourced bookkeeper provides consistency and efficiency.
Our services do not create a conflict in working with your current CPA. In fact, we can provide your CPA with the final financial statements for tax purposes or assist in providing information for an audit.
We primarily work with QuickBooks (Desktop and Online), NetSuite, Microsoft Dynamics 365, Xero and Yardi.
Your CPA will only have access to your books if you give them permission. Allowing your advisors and accountants access gives them the ability to review or change your data and documents whenever they need to.
As a business owner, you may find you cannot be involved in every part of the business. Generally, this is when a business needs outsourced bookkeeping. Outsourced bookkeeping services help you handle billing, deposits, sales tax, payroll, collections, bank account reconciliations and basic financial statements.
Any business with in-house bookkeeping or accounting positions can benefit from working with an outsourced bookkeeper.
There is no limitation to the number of projects our outsourced bookkeeping services can help you with.
It’s completely up to you. Boulay’s Accounting Clarity team can handle small or large outsourced bookkeeping projects. Depending on the size of your company, it may be more efficient to outsource all the accounting. We work with you to determine what is most beneficial to your company.
It is really up to our clients. Whether it’s phone, email, text or in person, we will work how it works best for you. You can expect your outsourced bookkeeper to respond in a timely manner based on the expectations you’ve set.
Our outsourced bookkeeping services can be remote or on-site. If you are requesting on-site services, we work within the seven-county metro of the Twin Cities. If you prefer a remote outsourced bookkeeper, we can work with you virtually anywhere in the United States.
Bookkeeping is easy to do remotely. Online software, used to enter expenses and receipts, makes it easy for our outsourced bookkeepers to access your accounting files remotely. We recommend applications that work well with your software to create more streamlined procedures and automation, making it easier for you to approve invoices, payroll and/or other expenses.
Yes, Boulay offers a full suite of services including audit, tax and business consulting.
Essentially, tax accounting services focus on consulting and tax advice to prepare your tax returns for filing, and strategies to minimize your tax obligation. Outsourced accounting prepares your financial statements and fiscal year numbers to be ready to be input into your tax return.
Boulay’s Accounting Clarity team takes security seriously and regularly reviews our systems. There are three scenarios that influence the way your data is secured.
Scenario 1: Boulay hosts your files on our internal servers.
Your financial data is stored on our centralized server and protected by industry-recognized security controls
Access to your data is limited to those who are assigned to work on your data
Authentication is required and is protected by multifactor authentication (MFA) in all situations that are technically feasible
In situations where it is not technically possible to use MFA, other security controls are put into place
Access is also limited by conditional access policies that will block access from unapproved locations or machines
Data is protected at rest and in transit by industry standard encryption
Data is backed up regularly and ready for restore if an issue arises
All access is logged
Boulay does not share your information with third parties
Scenario 2: Your files are hosted on QuickBooks Online (Intuit).
You control the access our firm has to your data
Once you grant our administrator access, they will assign access to only those Boulay staff that are working on your account
All data is encrypted at rest and in transit using industry-leading security
Access is protected by login, MFA (cannot be enforced), and is logged
State-of-the-art encryption is used to protect your data at rest and in transit
Intuit performs regular backups of your data, so you do not have to
Scenario 3: You host your own data on your business’s internal servers and provide access to Boulay via a VPN.
You have full control of the security of your financial data and the systems on which it is stored
A secure remote connection is used either by client-provided VPN or Boulay-provided remote connection software to connect to the hosting system
Regardless of the scenario chosen, the general controls we have in place are as follows:
All systems are updated using automated systems on a weekly basis
Vulnerabilities are monitored and quickly mediated when a new one arises
All users are assigned security and privacy awareness training regularly
Boulay does not share your information with third parties
Security policies and procedures are reviewed and updated regularly
When it comes to the data handled as part of our outsourced bookkeeping services, only the people to whom you give express permission, including your CPA, advisors and employees, can access your data. Boulay’s outsourced bookkeepers can set controls so specific functions are limited to individuals with the appropriate access.
This varies by client. Some clients have their own access to the accounting software and log in to view and print the information they wish. Alternatively, an agreed-upon financial package can be sent to you monthly. We will work with you to determine the most beneficial information to help you run an efficient operation.
Our monthly fees are based on the number of transactions processed through your company on a monthly basis. We will work with you to determine the time it will take to process all your transactions, close your monthly books and meet a deadline to provide you with the financial statements or a financial statement package on a timely basis.
Yes, Boulay will be happy to help with a technical issue. If we cannot help, we have access to a QuickBooks helpline for ProAdvisors, to help you find the answer you need in a timely manner.
To get answers to any questions that are not on this list, learn more about our outsourced bookkeeping services, or schedule a meeting with a member of our Accounting Clarity team, connect with us today.