Frequently asked questions

Are bookkeeping and accounting the same thing?

Bookkeeping and accounting are not the same, but they do frequently coincide in purpose and practice. Bookkeeping is mostly concerned with recording and organizing of financial data, while full-fledged accounting enters the territory of analyzing, interpreting, and advising based on the data.

Do you perform services at an hourly rate?

We offer 3 distinct tiers of service at a predetermined rated range based on business size, style and transaction volume. We also offer customizable services, meaning, if you mostly fit within the smaller package size but also need a certain level of bill-pay not included in that tier, you can add that to your service package.

We believe that hourly based compensation penalizes efficiency, and it helps clients to know upfront what their monthly costs will be consistently - so we aim to stay away from hourly rates most of the time. However - we never say never! If you have an out-of-scope project or need for us, don't hesitate to let us know, and we can work something out!

Do you offer full-fledged accounting services, or just bookkeeping?

Our services are a little mixed for added value, and we sprinkle in a little accounting spice where it's helpful as our education allows. Based on your service package, we will likely work with your CPA (certified public accountant) to make advanced adjustments, and we may offer limited insights and interpretation of your financial statements - but for the most part we focus on accurate data & leave the advisory services to your CPA and tax preparer (just like we may be able to recommend a helpful software that we've personally used but leave the heavy tech advice to your IT guy.) If you have something specific in mind, it never hurts to ask!

What accounting platforms do you work with?

We have certified experience in QuickBooks Online products, and hands-on experience in Wave Accounting, NetSuite, and many other software that integrates with these such as Bill.com, Gusto Payroll, Service Titan, non-profit donation platforms, etc. What we don't have outright expertise in, we are willing to learn!

Do you offer tax preparation?

No, we do not offer tax preparation services. But we can work with your tax preparer to feed them the info they need to prepare your taxes.

Can you catch or clean up messy books?

Yes - in the event your books are behind, or you are unsure if they've been kept in the most proficient or efficient of ways, we can help you to get back on track with some TLC! We'll get in and do a thorough review of what you've got, and come up with a plan to get things nice and tidy!

How often will we communicate?

Initially and upfront during the onboarding process, we will likely communicate quite frequently to get everything set up and ready for routine, monthly rhythms. We will establish a detailed list of your needs/desires, responsibility parameters, data connections, and set expectations.

Something that makes operations and the bookkeeping process flow more smoothly and efficiently, is focus time with limited interruption to the workflows. It is not practical or wise for a bookkeeper to constantly be in a tug of war between phone calls, emails, conversations and the actual tasks at hand.

As such, past the initial set up process, accelerated communication & availability will depend on your service tier. All clients will receive a set of monthly financial reports and urgent updates, with more immediate availability and open access for questions or concerns at higher tiers or as an add on service.

Regardless, at all levels of service - you are important to us, and we will make sure to get in touch with you as soon as possible!

What do you need from me monthly? How quickly can I expect financial reports each month?

How quickly you can expect reports each month depends on your needs and expectation which should be disclosed upfront upon the start of services, and how efficiently you provide the information necessary to close the books each month.

Most of information these days is automatically fed into your accounting system via bank feed connections or access provided upfront by you, but there are occasions where a bank feed connection breaks and we need credentials to log back in, or for you to send us a statement manually.

Like most things in this world - you get out what you put in!

Are you month-to-month or contract based?

Our clean up services are typically on a project-by-project basis, and our service packages are available on a 6 month to yearly* basis. This is so that both parties can get the most shared benefits out of establishing a relationship and workflows. Exceptions to contract length may be made at the discretion of both parties.

If you are not satisfied with your service at any time during the contract, give us a month's notice and we will forego any penalties: We don't want either party to be forced to work with someone who doesn't want to work with them!

*A yearly contract will offer a slight discount compared with a 6-month contract.

How can we get started?

Navigate to the 'Contact Us' portion of our website and fill out the contact form. From there someone will be in touch to get a more detailed picture of your business and needs for an official quote and next steps!

What kind of businesses do you work with?

Right now, we are focused on service based small businesses, and non-profits. Please see details under 'About' section. But if your business doesn't fit within these parameters and you think we'd be a good fit, let's talk!

Why should I outsource my bookkeeping and financials, rather than hire someone to come aboard in-house?

This mainly depends upon preference, but it can also be much more cost effective to outsource rather than to have a staff member solely dedicated to bookkeeping or the accounting cycle.

For instance, an in-house employee can mean a reasonable monthly salary or hourly rate, a greater tax burden for that salary plus any benefits your company offers. You would not, however, pay the tax burden or any company benefits for contracted services such as ours.

Another benefit to outsourcing financials is the automatic, built-in check and balance and higher level of accountability it layers on for your organization. It's always a good idea to have multiple sets of eyes on your finances for transparency, integrity, and to serve as a fail-safe. A $10k mistake is much easier to be missed when you're the only one reviewing your own work; but theoretically, the risk is lower when multiple people are involved from different vantage points!

What kind of security do you use? How can I trust that my financial information will be secured and used responsibly?

At Cloud By Day, we set all of our clients up with a secure and compliant portal software called Client Hub, right from the start in onboarding. (This is a software that will be included in your monthly rate with us at no additional cost to you.) Client hub uses an encrypted SSL server over TLS 1.2 and up with verifiable security certificates. Client Hub's security framework and more information can be found both HERE and HERE.

Within your own secure portal, we will be able to share login information to your various banks and platforms, upload and store files such as bank statements or tax returns, and communicate 1:1 directly within the hub in its own built-in messaging, texting-like feature. You can also download the Client Hub app on iPhone or Android, so that everything is right at your fingertips on the go and you get notifications and alerts from us!