FINTRADE Bookkeeping

FinTradeBooks Bookkeeping Services for Small and Medium-Sized Businesses

At FinTradeBooks, we believe that your books should work FOR you so you can work
on your business, not in your business. We work closely with our customers to build
compliant books that are accurate, and timely and give invaluable insight.

Our bookkeeping services span a comprehensive range designed to meet the unique
needs of our trade-based clients. Our foundational core is rooted in working with
trade organizations and the majority of our staff has direct hands-on experience
within trade companies before coming to FinTrade. While our services are uniquely
customized to meet your specific needs, we break down what we do into two primary
categories, the FinTrade tune-up and the FinTrade Maintenance Program.

Both FinTrade tune-up and FinTrade Maintenance each have various levels detailed
below, but basically, each higher level adds additional services to the prior.

TO BEGIN

We start with the FinTrade Check-up. This is where we first look at where your organization is from a bookkeeping and accounting perspective. This confidential analysis is complementary and very insightful as to what you are currently doing very well as well as some areas that you may want to focus additional attention or resources. Once we have done this analysis, we lay out options for your customized FinTrade Pathway.

The FinTrade Tune-Up:

After the check-up, we will present various options for your FinTrade tune-up. Whether you just need some extra help, want to fully outsource everything, are switching accounting systems or want to better align your books with your particular business group, this one-time tune-up will get you on track.

Basic Tune-Up:

The basic tune-up is best for our newer and/or smaller organizations. Best for Cash-based customers and doesn’t contemplate addressing many historical accounting items other than through one entry at the agreed-upon period
close date.

Better Tune-Up:

This includes the basic tune-up but goes a bit deeper. This is the most common tune-up we do and is for organizations below 25-30 employees. It goes deeper and includes some historical entries.

Best Tune-Up:

This comprehensive tune-up is for accrual-based customers who want their historical books fully mirroring the future maintenance plan by month back to the last closing tax period. This level is required for companies transitioning accounting or CRM systems and for those over $25 Million in annual sales.

The BASIC Tune-Up:

The basic tune-up is best for our newer and/or smaller organizations, It is for Cash based taxpayers only and not recommended for companies that are accrual, have more complex A/R, use Purchase Orders or have complex consignment or inventory relationships.. We start at the last closed tax period and go to the agreed-upon period (usually the prior month or quarter) This package includes:

  • ¬†Reconciliation of all bank and credit card accounts.
  • Implementation of a new chart of accounts (if applicable… usually good practice for business group
  • members). We will make entries on the last closed period that will reflect the period covered in the tune-up to match the revised chart of accounts.
  • Check and address basic problems with CRM/invoicing issues with most CRMs (if applicable), If these
    systems are not linked, we will assist in mapping and provide a pathway to do so but this does not cover addressing historical invoices or AR translation between CRM and accounting books.
  • Review of Payroll Journal Entries or existing mapping. Will provide a plan to best practices for maintenance moving forward but does not address prior entries.
  • Review and potential catch-up of Depreciation/Amortization entries.

The BETTER Tune-Up:

All the elements of the BASIC tune up plus a deep dive into the following areas

  • ¬†Accounts Receivable (A/R) reconciliation that ties receivables back to your merchant services and bank deposits. It also includes getting an accurate Accounts Receivable balance at the agreed close date.
  • Accounts Payable (A/P) analysis that reviews AP transactions, and ensures compliance with 1099 transitions and classifications.
  • Departmental (Class) analysis. If departments are used, we conduct a basic review for potential integrity issues in classification and if they do not exist, will work with the customer to implement them (if desired)
  • Historical entries by quarter for revised chart of accounts, Depreciation/Amortization, and other clean-up entries as needed. This does not include modifications to historical departmental classifications only arcount rerlassification

The BEST Tune-Up:

All the elements of the BETTER tune-up plus customized and comprehensive processes for larger, accrual-based organizations. This is recommended for any major systems changes and for all customers who follow GAAP accounting principles.

  • Implementation of alternative or new third-party apps as it relates to Accounts Receivable, Accounts Payable or other applications.
  • Comprehensive analysis of all prior transactions in an open period to identify issues.
  • Internal control analysis of existing processes.
  • Other customized, agreed-upon procedures for activities that improve the maintenance phase. Selecting which tune-up is right for your organization is something we take pride in finding the best fit.

 

Tune-ups can be a la carte, but we highly recommend they be paired with one of our FinTrade
Maintenance Programs.

FinTrade Maintenance Program

Your books are a primary part of your financial engine and what good is a tune up if you don’t maintain that engine after? The maintenance programs offered by FinTrade are what give you all the tools for success. Whether it is customized management financial reports or cash flow forecasting, our maintenance programs are the backbone of what we do. Depending on your needs, we have four levels that we offer along with various additional services that can be added to a package or handled a la carte.


Much like the tune-up, these levels are designed to grow with your business and where you start today may not be where you go in the future.

1

Level One Maintenance

Level One is ideal for those smaller organizations seeking the very basics of bookkeeping support. This program offers helpful reporting and ensures you get the information you need when you need it so you can make informed decisions about your business. This works best when there is already someone in the office who handles some or all data input. We become your backstop and help maintain financial integrity within your accounting data. Includes monthly bank and credit card reconciliations, basic invoice reconciliations, monthly cash flow analysis and forecast and monthly report. Also, each TRADE has specific areas of interest that are individually tracked and reported on. (i.e HVAC Maintenance Programs, Warranty, Finance Buydowns etc).

2

Level Two Maintenance

This program is for those companies who need a little more hands on help in data input and in day to day activities. This includes all the services of Level One but where we do most of the lifting. That includes weekly data inputs, A/P reconciliation, Invoicing and A/R reconciliation, Merchant Services reconciliation, KPI analysis and month end reporting. This is ideal for small to mid sized companies who need a dedicated staff accountant but don’t necessarily have the budget for someone full time.

3

Level Three Maintenance

This program is what would be considered full outsourced bookkeeping. You get a top tier team supporting you in real time so you can make confident decisions based on financial fact, not assumptions. You have a dedicated senior staff accountant and our team handles almost all accounting entries, closing entries, management of A/R and A/P and any journal adjustments needed. Our team becomes like an extension of your own staff. Additionally, this includes weekly reports and updates for leadership within the organization that provides actionable insight about the financial health of the organization. At this level, we also work with you to take advantage of cutting ecge technology to streamline expense and receivable management as well as update your books on an ongoing basis so your information is as current as possible. If your organization also uses Purchase Orders, this level is required to adequately serve your needs. This level is strangly encouraged for mid to larger organizations and those seeking rapid growth or expansion.

4

Level Four Maintenance

At this level, FinTrade acts as your Fractional CFO and works directly with executive management in helping in the strategic initiatives of the organization. It includes all aspects of Level Three and dedicated weekly time from our Senior Staff and Fractional CFO leadership team. It also includes weekly cash forecasts, in depth financing analysis, vendor pricing negotiations and other strategic directives as agreed upon by both parties. With FinTradeBooks, you can trust that our services are tailored to your specific requirements, ensuring your financial success and peace of mind. Our goal is to first meet you where you are and then as we get to know one another, we work with you (and your business group coach, if applicable) to incorporate accounting and financial best practices and bring technology solutions that give you better insight, stronger financial controls and timely facts that help you make informed and confident decisions.

Additional Services (Optional):

At FinTradeBooks, we offer a range of additional services that can be seamlessly integrated into your financial management strategy. Our Expense Reports service ensures meticulous tracking and reporting of your business expenses, helping you maintain financial transparency. We also take care of the administrative burden by preparing 1099 forms, guaranteeing compliance with tax regulations.

For efficient cash flow management, our A/R Collections service helps you recover outstanding payments from clients, improving your liquidity. We can handle the complexities of Sales Tax Calculation, ensuring accurate and timely submissions. Moreover, our team is equipped to tackle Special Projects, addressing unique financial needs. While we are not a public accounting firm, we do work hand in hand with CPA’s and have other contacts in this area should you need CPA support.


Additionally, we extend our services to encompass critical aspects of your business through our partner Comprehensive Employment Solution Inc, including Payroll Management, Payroll Compliance, HR & Safety compliance, Health Benefit Planning, Workers Compensation and Liability Insurance Planning. These comprehensive solutions enable you to focus on your core business activities while FinTrade and CES handle the intricacies of finance, human resources, and risk management.

Which Bookkeeping Services Level is right for your Business?