BooksTime Review: An Esteemed Bookkeeping Service Provider
Sonya Livshits and her husband, Jacob Livshits, a technology entrepreneur, set up BooksTime working as a Certified Public Accountant who already has quite a long tenure in leading accounting firms. A consultancy for small businesses, the company specializes in providing accounting services without the client having to spend too much money or time.
Given its long industry tenure, BooksTime is undeniably a legitimate accounting services firm. Numerous entities and clients attest to the company’s reputation, give several claims validity, thus making them a force in the accounting industry.
Bookstime Services (BooksTime Accounting: Bookkeeping)
BooksTime boasts of numerous capabilities that had solidified its place within the industry. Positive reviews abound the net about this provider that speaks of its efficiency and reliability. Described below are BooksTime’s flagship services:
Bookstime Does the Bookkeeping for You!
BooksTime’s services include recording and organizing transactions by category, account reconciliation, the closing of months, and the entire calendar along with many others. The staff at Bookstime is also tasked to synchronize the company’s accounting software with banks and other payment gateways to efficiently secure the importation of financial data.
BooksTime Sets-up Cleans-up Your Books
Bookstime will set up your books, clean and organize them, or even do the catching up or updating for you.
BooksTime Will Take Care of Your Payroll
BooksTime’s payroll services include filings of federal, state, and local payroll alongside tax payments across all 50 states. On top of that, the staff can conveniently set up direct deposit, off-tracking of paid time, and even multiple pay rates. Also included within the payroll offerings are W-2s for employees and 1099s for contractors. BoksTime’s clients are also viable for additional health benefits and insurances.
BooksTime Can Pay Your Bills for You
On top of taking care of unpaid bills, BooksTime can also issue bills payments. The staff follows the guidelines required for your payment. You are also at liberty to add an authorization step to secure payment.
BooksTime Does Invoicing
Bookstime will prepare invoices concerning your payment guidelines. They will even keep you up-to-date with your clients should there be delayed payments through different communication channels. The company would also provide reminders and confirmation of amounts.
BooksTime Online Bookkeeping Services
The growth of your business would require an efficient bookkeeping routine. As this is the case, the immediate desire would be outsourcing bookkeeping services.
A business owner like you would be offered facilities for bookkeeping management, calculations, and specifications for the formulation of a wage fund, control of operating expenses, and more.
Riding with the times, BooksTime had utilized modern technology that allows entrepreneurs to safeguard all their bookkeeping data. This works through a third-party or upload to the cloud.
What a bookkeeper does relies on the activities of the organization he or she is a part of. Much consideration is given to the bookkeeping department’s goal and objectives. Organizations may even opt to enlist the services of a third-party for electronic or online bookkeeping. More often than not, companies who provide record-keeping services perform the following:
- Render and secure fiscal transactions data;
- Manage Bank Accounts
- Regulate banking channels
- Administer enterprise receivables
- Keep records and work closely with tax agents
- Prepare fiscal reports
- Recommend optimization methods to maximize the cost of the company
- Provide facilities for modern business
Businesses are mandated to keep accounting books detailing all their financial operations. These books are necessary to demonstrate where all the enterprises’ income comes from. These also list their expenditures, expenses, and which of their income is taxable and non-taxable.
Record-Keeping Services for Small and Medium Businesses
Well-formed bookkeeping helps the company review its growth and development. This allows executives to see which of the enterprises’ endeavors are making money and those that are less profitable. The books serve to aid the company to determine what efforts it can further and what it needs to disregard. BooksTime comes into the picture to provide an organization with a company’s bookkeeping activities, especially when dealing with relatively-small enterprises.
Suffice it to say, and it is not always practical for a small-scale business to keep an in-house accountant, let alone hire a fiscal manager. What is practical is to get the help of a third-party online recording data provider. This permits the business greater efficiency in conducting its operations with the activity of constantly checking financial statements that will be taken out of their hands. This also saves them money usually spent on compensation for the regular bookkeeper and the facilities and logistics needed to keep him or her in the office.
BooksTime Guide to Accounting and Bookkeeping
BooksTime is versatile in that it is well-versed in the methods of bookkeeping. This makes for a reliable bookkeeping service that is viable for any business.
BooksTime Does Accrual Bookkeeping
BooksTime honors the two (2) ways of performing bookkeeping:
- Accrual Basis
- Cash basis
For this part, Accrual basis bookkeeping will be given emphasis. It is considered to be the most popular option for businesses.
Accrual basis gives its users the most realistic and accurate view of your financial position. For this reason, the IRS requires this type of bookkeeping. But of course, everything is reliant on what the proprietor of the business sees fit for their business. BooksTime assures its clients of its versatility as it offers both Accrual Basis and Cash basis bookkeeping.
Make no mistake about it, no matter how efficient you may be as a leader of an organization, there will be times you would fall short—be caught up with all the stress and the multiple roles that you have to assume in a day’s work—as such, keeping financial records day-in and day-out would be more than just taxing.
BooksTime aims at taking the burden off your backs by performing the bookkeeping through one of its certified professionals.
BooksTime ensures that you are assigned a responsive and dedicated financial expert who would be taking care of all your financial documentation. Through the company, you will be availed of the following advantages:
BooksTime Saves Clients Money
As BooksTime makes use of the latest technology, all bookkeeping tasks, simple or otherwise, are sped-up and rendered with greater efficiency. Despite being five steps ahead of its competitors, the company’s services are at 20% to 50% lower.
BooksTime Creates Reports that are Clear, Concise, and Relevant
BooksTime doesn’t just organize financial data, and it helps its clients use it properly. What a BooksTime bookkeeper does is analyze its client’s financials to aid it in securing more opportunities for profit. The professional will also send monthly reports, including specific metrics that will help the client weather his or her chances of making more profitable deals. Cash flow forecasts are also made available to clients.
BooksTime Partners with Industry Leaders
BooksTime assigns its clients’ bookkeepers that are only highly-qualified and certified with a tenure of 10-30 years. A client is assured that each is well-versed with your industry and has the necessary degrees and certifications. The bookkeeper is also adept at using the accounting software of your choice and is available when you need him or her to be.
BooksTime Adjusts to its Clients
As already mentioned above, BooksTime adjusts to the software that your organization uses. Adaptability is one of BooksTime’s significant strengths. They are more than happy to recommend software for more efficient work, but only upon the client’s request.
Of course, it is always easy to make claims. A company can still issue positive Press Releases regarding what they do. Deception might always be in the cards. However, if one is to talk from the inside, self-exaltation is a familiar pit to fall into. As such, it is reading through client testimonials are the way to go when considering services. And this is a department that BooksTime is big on the positive side.
Below are reviews from clients who had chosen to consult with BooksTime.
These can be found on BooksTime site itself. The mere fact that the site had boldly posted pictures to the names on the testimony is a big claim on validity and truth.
Upon scouring the net for further reference, much of the reviews pertain to working as an employee at BooksTime. These, much like the ones above, are also positive.
Is Bookstime a Scam?
So, is BooksTime a scam? The short answer to this question is NO.
BooksTime is a legitimate company composed of real people bent on providing legal services, not scammers. Scammers will always make sweet promises with their interests in mind. Scammers will go through lengths to create a concrete façade. But scammers, more often than not, will always leave a filthy trail. With the internet’s broad reach, it is almost impossible not to uncover half-truths and liars. To this cause, quick research would quickly render the truth.
And the truth cannot be overturned by negative reviews as such are in rarity to the point of nothing.
Even with reviews from an employee’s perspective, BooksTime is always placed in a positive light. As such, BooksTime’s claim to efficiency can be backed up by the international community that put esteem to the bookkeeping industry.
Indeed, choosing BooksTime as a professional accounting provider is the best choice for any organization; their online reputation sees them not only as a leading service provider but as an innovator in the financial field.
5 Reasons Why You Should Work with BooksTime
So how does one choose a record-keeping firm? Specific parameters have to be established so that a business proprietor may be able to choose well. For this, BooksTime delivers:
- Cost of facilities
Evaluating how much you are willing to allow for record-keeping and what services you will receive for this money takes precedence in deciding which service provider to choose. With BooksTime, the actual facilities that you would be made to experience are at par with the cost that the company quotes for each.
- Personalization of record-keeping facilities
- Accounting software integration
As a client, you need to ensure that the bookkeeper enterprise you would enlist is savvy and therefore makes use of the accounting software your company uses. This saves you time, as learning through the ropes of entirely new software won’t take either of your time. Be assured that BooksTime is adept with just about any accounting software in the mainstream market, making them more than flexible and adaptive to your technical accounting requirements.
- Conducive to Small and Medium-Scale Businesses
As already expressed, keeping an in-house accountant may not be the best choice for small and medium-scale businesses. A company can save much by enlisting the services of a third-party provider with whom they can request a specific set of services and facilities.
- Top-Tier Online Bookkeeping Services
BooksTime had done well by establishing its place in the fast-paced technological terrain. It had geared itself as a premier third-party provider that efficiently secures fiscal transaction data, manages bank accounts, and regulates banking channels as it keeps all records on the cloud.
BooksTime’s 10 Measures for Better Small Business Bookkeeping
Bookkeeping is no walk in the park. BooksTime knows this and wants to take the burden away from you. Nevertheless, a client might want to be privy to the steps that a third-party provider would be taking in securing your fiscal data. Detailed here are steps that a provider like BooksTime takes to become a wholly reliable accounting provider that makes the most jarring activity of bookkeeping easy.
Business and personal finances are separated
Not checking your expenses against your income might be a common mistake in bookkeeping for small businesses, but it is far from being a minor one. Not compartmentalizing business and personal finances is a recipe for financial disaster. You won’t be able to tell what money is coming in and where you’re taking money from. BooksTime keeps tabs on the expenditures, expenses, and profit that come into your business. Through this, BooksTime helps your business build a handsome credit rating.
Automation of all transactions is the way to go.
Manually entering data into spreadsheets is out. BooksTime’s online bookkeeping system makes use of cloud-based bookkeeping software. This allows its clients the pleasure of making banking transactions online. BooksTime synchronizes the software with the client’s business bank account. This keeps the client abreast of the activities of his or her finances. With everything in the cloud, critical financial data is safely backed-up.
BooksTime employs only the best of professionals.
As a client is recommended to get the help of an accountant, BooksTime refers a competent professional to address a client’s concerns, may it be regarding the accounting software or what other facilities are needed. The accountant gives sound fiscal advice and walks a client through the usage of the accounting software.
Financial checkups are done religiously.
Bounced checks, unaccounted expenses, and unaddressed invoices are things you don’t want to take care of late. BooksTime helps the cause by keeping such troubles at bay through the accountant’s constant check of the client’s books.
Quarterly reviews are done.
BooksTime scrutinizes a client’s bookkeeping and accounting records at each quarter’s end. The professional does well by looking into trends exemplified by either climbing or declining sales, yearly revenues, or even through the influx of customers who pay late.
Keep records of business expenses.
With the changes to the tax code done, organizations need to consult BooksTime’s professionals with how you can go about deducting expenses through the coming years. Through all these, the provider will be assisting you in rendering all transaction documents such as invoices and official receipts in digital format.
Employees’ hours are monitored effectively through software.
BooksTime recognizes the need for organizations to monitor their employees’ hours. As such, it makes use of cloud-based time tracking software that can be accessed through various devices. This automates the filing for overtime, undertime, and ultimately helps in effectively plotting out the monthly payroll.
Accounts receivables are recorded.
While late-paying customers might answer only to their own conscience, and efficient organization should pay attention to its receivables. Should customers become persistent in their delayed payments, then they should be contacted. If the customer is faced with a difficult financial situation, it is recommended that a payment arrangement be made, this ensures that none of the parties involved are burdened.
Tax deadlines are met.
Planning ahead is always sound advice. For organizations, this means setting aside money for bills. This helps avoid delayed payments that result in fines. BooksTime helps by making the necessary arrangements for you so that tax deadlines are always met.
Consult with BooksTime now!
BooksTime’s professionals are always ready to lend a hand. To start your journey with fiscal efficiency, we urge you to contact BooksTime now to set a meeting with one of its qualified local accountants.
With everything said about BooksTime, it’s hard not to see why they are a professional bookkeeping provider worthy of the industry’s trust.
The numerous positive reviews that can be found across the online community are enough to attest to this. As cheaters and deception abound the digital and physical world, one can be assured of BooksTime’s legitimacy. It is far from being a scam and far from being a haven for cheaters. It is merely a company built on a principle of faithful service and esteem.