FAQs

Here, you'll find answers to common questions about our accounting services, tailored for start-ups, entrepreneurs, corporations, and small businesses.

If you need more detailed information or have specific questions not covered here, don't hesitate to reach out to us! We're always ready to help you understand and navigate your financial journey with complete clarity.

What industries do you serve?

At Saavi Solutions, we proudly serve a diverse range of service-based industries. We understand the unique financial needs and challenges that these industries face, allowing us to provide tailored solutions and expert guidance.

Some of the industries we commonly work with include:

Consulting and Professional Services: This includes management consulting, marketing consulting, legal services, architectural firms, engineering firms, and other professional service providers.
Creative and Design: We support creative professionals such as graphic designers, web developers, photographers, artists, and writers, helping them manage their finances effectively.
Coaching and Personal Development: We work with life coaches, business coaches, career coaches, and other personal development professionals, providing financial insights to support their growth and success.
General/Trade Specific Contractors: We also serve the general contracting industry, providing comprehensive accounting and bookkeeping services tailored to the unique needs of contractors.

Whether you specialize in residential, commercial, or industrial construction, we understand the financial intricacies of your industry. Please click here to learn more about our services tailored for contractors.

These are just a few examples, and we are equipped to work with businesses across various service-based industries. Regardless of your specific industry, we are committed to providing you with exceptional accounting and bookkeeping services to support your financial success.

My books are a mess, do I need to do anything with them before sending them to you?

Nope! During our Financial Clarity Assessment we will identify anything and everything that we may need to clean up. We deliver an action plan and work with you to identify the outcome of your business goals so that we can help you achieve them!

Why do I need a bookkeeper or accountant?

A bookkeeper or accountant plays a crucial role in maintaining the financial health and success of your business. They bring expertise in managing your financial records, ensuring accuracy, compliance with regulations, and timely reporting. They provide valuable insights into your financial performance, help you make informed decisions, and ensure you maximize tax deductions and minimize risks. By entrusting your financial matters to a professional, you can focus on core business activities and achieve peace of mind knowing your finances are in capable hands.

How does the monthly bookkeeping service work?

Our monthly bookkeeping service is designed to provide comprehensive financial support for your business. Here's how it works:

Initial Consultation: We start with an initial consultation to understand your business, financial goals, and specific bookkeeping needs. This allows us to tailor our services to your unique requirements.
Setup and Onboarding: Once we have a clear understanding of your needs, we set up your bookkeeping system, including software and account configurations. We collaborate with you to gather the necessary financial documents and establish secure data sharing protocols.
Ongoing Data Entry and Reconciliation: We handle the regular data entry of your financial transactions, such as income, expenses, invoices, and bank statements. Our team reconciles your accounts to ensure accuracy and identify any discrepancies.
Financial Reporting: We generate monthly financial reports, including balance sheets, income statements, and cash flow statements. These reports provide a clear snapshot of your business's financial health and help you make informed decisions.
Expense Tracking and Categorization: We diligently track and categorize your business expenses, ensuring proper classification for accurate financial reporting and tax purposes.
Tax Preparation Support: As part of our service, we assist with organizing and preparing the necessary documentation for tax filing. We work in collaboration with your tax advisor or can recommend one if needed.
Ongoing Support and Communication: Throughout the month, we maintain open lines of communication to address any questions, concerns, or changes in your business's financial landscape. We provide proactive advice to help you optimize your financial processes and maximize your profitability.

By outsourcing your bookkeeping to us, you can focus on growing your business while having peace of mind knowing that your financial records are meticulously managed by experienced professionals.

What affects pricing?

Our pricing is influenced by several factors tailored to your specific requirements. Variables such as the scope and complexity of the services, the frequency of engagement, and the size of your business may affect pricing. We provide transparent pricing structures and work closely with you to create a customized plan that aligns with your budget and goals.

How will we communicate each month?

At Saavi Solutions, we prioritize effective communication to ensure a seamless collaboration. We offer various communication channels, including email, phone calls, and virtual meetings. We adapt to your preferred method and maintain regular communication to address your needs, provide updates, and answer any questions you may have.

What is the difference between accounting and bookkeeping?

Accounting and bookkeeping are closely related but distinct functions within the financial management of a business. While they both deal with financial data and records, there are key differences between the two.

Bookkeeping refers to the systematic recording, organizing, and categorizing of financial transactions. It involves tasks such as recording sales and expenses, managing invoices and receipts, reconciling bank statements, and maintaining accurate financial records.

Bookkeepers focus on the day-to-day financial operations and ensuring the accuracy and completeness of financial data.Accounting, on the other hand, encompasses a broader scope and involves the interpretation, analysis, and reporting of financial information.

Accountants utilize the data prepared by bookkeepers to create financial statements, perform financial analysis, and provide insights into the financial performance of the business. They also handle more complex tasks such as budgeting, tax planning, financial forecasting, and strategic decision-making.In simpler terms, bookkeeping is like the foundation of financial management, ensuring that all financial transactions are recorded accurately.

Accounting builds upon this foundation by providing a deeper understanding of the financial data, analyzing trends, and offering strategic insights to drive business growth.While bookkeeping focuses on the organization and recording of financial data, accounting encompasses a broader range of activities, including financial analysis, planning, and advising.

Both functions are crucial for maintaining financial health and compliance, and they often work together to provide a comprehensive financial management system for businesses.

At Saavi Solutions, we offer comprehensive accounting and bookkeeping services to support your business's financial needs. Our team of experts combines the accuracy of bookkeeping with the insights of accounting to provide you with a holistic approach to financial management.

Whether you require assistance with day-to-day bookkeeping tasks or strategic financial analysis, we are here to help you make informed decisions and achieve your financial goals.

FAQs

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