Bookkeeping is the record of what your business earned, spent, owes and owns. When it is current, you can make decisions with real numbers, your tax return takes less time, and lenders and partners get statements they can rely on. When it is behind, every one of those things gets harder and more expensive.
We keep your books each month, reconcile them to your bank and card accounts, and send you statements you can read. Because the same firm prepares your taxes, the books are organized the way your return needs them.
What our bookkeeping covers
Monthly bookkeeping
Recording and categorizing your transactions every month, so your numbers are current instead of a year behind.
Bank and credit card reconciliation
Matching your books to your statements each month to catch missing, duplicate or mistaken entries.
Financial statements
A profit and loss statement and a balance sheet each month, so you can see how the business is doing.
Cleanup bookkeeping
If your books are months or years behind, we bring them up to date so your return and your decisions rest on accurate records.
QuickBooks setup and use
We can set up QuickBooks Online for your business and keep your books in it. We tell you up front which software we will use.
How bookkeeping and taxes work together
A tax return summarizes a year of records. When the books are categorized correctly all year, deductions are not missed, owner draws and payroll are recorded properly, and the return reconciles to the statements. Keeping both with one firm means fewer questions at filing time and fewer corrections afterwards.
Who it suits
- Small business owners who do not have time to keep their own books
- New businesses that want the books set up correctly from the start
- Businesses that fell behind and need a cleanup before filing
- Owners who need statements for a lender, an investor or a partner
How it works
- 1
We look at where your books stand
We review your accounts and any existing books, and tell you whether you need monthly bookkeeping, a cleanup or both.
- 2
We set up your accounts
We connect or collect your bank and card statements and agree how your categories should be set up.
- 3
We keep your books each month
We record and reconcile your transactions and send your monthly statements.
- 4
Your return uses the same records
At tax time the return is prepared from the books we have already reconciled.
What we need from you
- Business bank and credit card statements, or read access to the accounts
- Existing books or software file, if you have one
- Invoices you issued and bills you paid, or access to where they are kept
- Payroll reports, if you have employees
- Loan and lease statements
- Last year's tax return, if we did not prepare it
Not sure what applies to you? Send what you have and we will tell you what is missing.
Why work with BUTA Tax
- Tax preparation, bookkeeping, payroll, business formation and IRS help in one firm, so your records line up.
- A secure client portal for your documents and messages, available whenever you need it.
- Starting prices shown on this site and the questions that set your final price asked before you pay.
- An office in Frisco, Texas, and online service for clients across the United States.
Frequently asked questions
How much does bookkeeping cost?
It depends on how many transactions your business has and how current your records are. Tell us roughly what you spend and receive each month and we will quote the work before you commit. Cleanup work is quoted separately from the monthly fee.
Can you clean up bookkeeping that is behind?
Yes. We bring past months up to date and reconcile them to your statements, then move you to monthly bookkeeping so you do not fall behind again.
Do you use QuickBooks?
We can set up and keep your books in QuickBooks Online. We tell you which software we will use when you start.
Do I still need a separate accountant for taxes?
No. We prepare your business and personal tax returns too, from the same books, which cuts down on back-and-forth at filing time.
Can you work with the books I already have?
Usually. We review them first. If they are accurate we continue from there, and if not we tell you what has to be corrected before the numbers can be trusted.