FAQ

Welcome to the FAQ page of Matter Business Solutions, LLC. We understand that bookkeeping can seem complex, especially for small business owners juggling multiple responsibilities. Our goal is to make financial management as straightforward and stress-free as possible. Below, you'll find answers to some of the most commonly asked questions about our bookkeeping services. Whether you're curious about our processes, pricing, or the specific benefits we offer, we're here to provide clear and helpful information. If you have additional questions, please don't hesitate to contact us.

What is a Bookkeeper?

Bookkeepng encompasses recording, storing, and retrievining financial transactions. It centers on the transactional day-to-day recording and upkeep of a business's financial records.
What does your Bookkeeper do?

It includes data entry, bank reconciliation, invoicing, and paying bills. Monthly reports, payroll, tax prep, end of year reports, and business strategy falls in line with your accountant.
Do I need a Bookkeeper and an Accountant?

Yes as your Bookkeeper organizes your financial transactions and your Accountant analyzes them on your behalf. Your Bookkeeper eases the hand-off to your Accountant to handle your yearly reports and taxes.
What services does Matter Business Solutions, LLC offer?

We provide comprehensive bookkeeping services, including monthly financial statements, profit and loss statements, accounts payable and receivable management.
How does your service benefit my small business?

Our bookkeeping services help you maintain accurate financial records, giving you clear insights into your business's financial health. This allows you to make informed decisions and focus on growing your business without worrying about the numbers.
What industries do you specialize in?

We cater to a variety of small businesses, including retail, consulting, healthcare, and more. Our team is equipped to handle the unique financial needs of different industries.
How do you ensure the accuracy of financial records?

Our team uses advanced bookkeeping software and follows rigorous procedures to ensure the accuracy and integrity of your financial data. We also conduct regular reviews to catch and correct any discrepancies.
How much do your services cost?

Our pricing is tailored to the specific needs of your business. We offer competitive rates, starting at $250 per month, and can provide a customized quote based on the scope of services you require. Contact us for a detailed pricing plan.
How do I get started with your services?

Getting started is easy! Simply contact us to schedule a consultation. We'll discuss your bookkeeping needs and see if we're a good fit to support your business.
What software do you use for bookkeeping?

We use industry-leading bookkeeping software like QuickBooks to manage your financial records efficiently and securely.
Do you offer tax preparation services?

While we specialize in bookkeeping, we also provide tax preparation support. We can organize your financial records and work with your tax preparer to ensure a smooth and accurate tax filing process.
How do you protect my financial data?

We prioritize the security of your financial data by using encrypted software and following best practices for data protection. Your information is safe with us.
What is Bookkeeping?

Process of recording your company's financial transactions into organized accounts on a daily basis. It can also refer to the different recording techniques businesses can use. Bookkeeping is an essential part of your accounting process.
What are Financial Statements?

A collection of reports that summarizes important financial information about an organization's financial results. They include a balance sheet, income statement, statement of equity, and statement of cash flows.
What is a Balance Sheet?

A financial statement that reports a company's assets, liabilities, and shareholder equity (capital) at a specific point in time.
What is an Income Statement?

A financial statement that reports a company's income and expenditures (expenses) over a given period of time. This report is also referred to as the Profit and Loss statement (P & L).
What are Cost of Goods Sold (COGS)?

Sum of all direct costs associated with making a product or providing a service. COGS does not include the cost associated with marketing, sales, or distribution.
What is Gross Profit?

A calculation that tells you how profitable your services and products are. Revenue LESS COGS = Gross Profit
What is Operating Profit?

A calculation that tells you how profitable your business is after operational expenses. Gross Profit less Operating Expenses = Operating Profit
What is a Statement of Cash Flow?

A financial statement that reports a company's inflows and outflows of cash transactions over a designated period of time. The statement is separated by operating, financing, and investing activities.
What is a Statement of Equity?

A financial statement that reports a company's changes in shareholder equity over a designated period of time.
What is an Asset?

Economic resources belonging to a business - could be cash or money in bank account. Examples: Property, fixtures, equipment, vehicles, goods for resale.
What are Liabilities?

Debts owed by business. Includes: creditors, bank overdrafts, and bank loans.
What is Capital?

Value of investment in business by owner(s). Part of business that belongs to owner "owner's interest."