I've just started my business and there isn't much activity yet. Is a bookkeeper necessary?

Yes, definitely! Setting up your bookkeeping, establishing a workflow, and discussing strategic goals early on is crucial, especially for new business owners who might not be familiar with accounting processes. It’s best to get these things right from the start to build your business effectively and achieve your goals quickly.

Should I use cash basis or accrual basis accounting for my books?

Most businesses start with cash basis accounting for tax purposes, which might be all you need if your operations are straightforward. However, for businesses with more complex activities, it’s advisable to maintain your books on accrual basis. Accrual accounting provides a more accurate picture of your profitability and performance, which is essential for forecasts, profitability analyses, and other advanced financial services. We can help determine if you need to use accrual basis bookkeeping based on your tax situation.

My bookkeeper is inexpensive; why should I consider switching to a more premium service?

Often, a low-cost bookkeeper might only manage basic cash basis bookkeeping and categorize transactions broadly, possibly due to handling many clients to cover costs. This can result in outdated books that don’t reflect your current business situation accurately. Our bookkeepers at MB Accounting Group not only know bookkeeping but can provide detailed financial statements that highlight the profitability of different aspects of your business, helping you make informed strategic decisions in a timely manner.

What's the recommended frequency for bookkeeping to ensure accuracy?

We suggest monthly bookkeeping as a standard practice to keep your financials current and comprehensive. For businesses with fewer transactions, like in the early stages of a startup, quarterly bookkeeping might be feasible. However, we generally discourage only annual bookkeeping due to the extensive cleanup required and potential missed opportunities for tax planning during the year.

How much will the bookkeeping services cost?

For an estimate tailored to your specific needs, please use our online quoting tool for bookkeeping services. For a combination of bookkeeping and tax services, you can check the pricing here.

I have complex bookkeeping needs with many transactions monthly. Should I outsource or hire someone internally?

Evaluating whether to outsource or hire internally depends on your ability to manage and lead accounting staff effectively. Many business owners find it challenging to make optimal hires in accounting, which could lead to subpar outcomes. Outsourcing to a firm like MB Accounting Group allows you to benefit from our expertise at a lower cost compared to hiring full-time staff, and without the overhead of managing additional employees. In some cases, a hybrid approach with both in-house staff and outsourced expertise might be the best solution. We can advise on the most effective strategy for your business.

Monthly Bookkeeping Services
To Elevate Your Business

Focus on what you do best — we’ll handle the numbers. Tailored bookkeeping solutions for small and medium-sized companies looking to scale. Discover Your Custom Plan with Our Free Pricing Calculator

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We are all about creating long-lasting, value-added relationships with our clients.

What We Offer

Why Choose Us?

Our team of experienced bookkeepers ensures that every aspect of your financial management is handled with care. We offer timely responses to keep you in the loop, custom reports that provide actionable insights, and tax-ready financials to ease your tax season preparations.

Our commitment to accuracy assures you can trust in the reliability of your financial data. Utilizing the latest software, we streamline your processes for maximum efficiency and safeguard your information. With vigilant cash flow management and strategic financial insights, we support not just your day-to-day operations but also your long-term sales growth.

As your dedicated bookkeeping partner, we are committed to helping your business not only run smoothly but thrive. To ensure your complete satisfaction, we offer a 30-day money-back guarantee as well as no hidden onboarding fees. Trust us to empower your business growth while you focus on what you do best—running your business..

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45%

of small businesses fail within first 5 years, largely due to poor financial management during their startup phase

70%

of businesses that fail due to poor financial management have in-house bookkeeping and accounting

60%

of businesses who outsource their bookkeeping experience a 35% reduction in operation costs and a 6% increase in profitability

Our services

Bookkeeping Services

At MB Accounting Group, we offer expert bookkeeping services to meet your business needs. Our team ensures your financial records are accurate, up-to-date, and compliant. Whether you’re a small business or a large enterprise, we’ve got you covered.

Daily/Weekly/Monthly/Quarterly/Yearly Transaction Categorizations
Monthly Account Reconciliations
Financial Statement Compilations
Accounts Payable (Bill Payments) Outsourcing
Accounts Receivable (Invoicing) Outsourcing
Payroll
Sales Tax Returns
Inventory Management Outsourcing
Chart of Accounts Customization

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We integrate with the best software

Other services

Catch Up Bookkeeping

Behind on your books? No problem. Our catch-up bookkeeping services quickly update your financial records. We’ll review past transactions, reconcile accounts, and prepare financial statements. Our team restores order with speed and accuracy, allowing you to focus on your business’s future. Let us handle your past records efficiently and stress-free.

Tax services

Reduce tax liabilities and ensure compliance with our expert tax planning and filing services. Our professionals tailor strategies to your business needs, leveraging the latest regulations. We provide year-end planning, quarterly filings, and ongoing advice, optimizing your tax benefits and reducing your tax burden while maintaining full compliance.

Fractional CFO Services

Scale your business with our strategic CFO services. Our expert financial officers provide tailored insights and strategies to align with your growth goals. We offer financial forecasting, risk management, and investment strategies to strengthen your financial health and market position. Partner with us to navigate complex financial landscapes and drive sustainable growth.

Switching to MB Accounting was one of the best business decisions I've made. They helped streamline my book keeping and provide monthly reports to help manage and operate my business

Mike Bensimon

East Payment Solutions

MB Accounting gets the job done quickly and painlessly while eliminating many hassles that we have had in the past. MB Accounting also did a stellar job with our business and personal taxes and we paid a lot less taxes than we expected.

Darrell Brantingham

Acuity Technical Solutions

As a small business owner, managing finances can be incredibly challenging, but MB Accounting has been a lifesaver. Their commitment to personalized service has been great. They offered tailored advice that significantly improved my financial management. Reliable and responsive, MB Accounting is always available to answer questions. Thanks to MB Accounting, I have a clear picture of my business's financial health, allowing me to focus on growth with peace of mind.

Daniel Vaverko

Vera Hawaii

I am pleased to share my experience with MB Accounting. They have been everything I needed and more - efficient, thorough, and collaborative. The attention to detail and dedication to the work have been outstanding. I am particularly grateful for the support and consistency they bring to our financial operations. Their professionalism and proactive approach have truly made a positive impact on my business. I highly recommend their services to anyone in need of a reliable and skilled bookkeeper.

Mary Stephenson LLC

Our clients

FAQ

Frequently Asked Questions

I've just started my business and there isn't much activity yet. Is a bookkeeper necessary?
Yes, definitely! Setting up your bookkeeping, establishing a workflow, and discussing strategic goals early on is crucial, especially for new business owners who might not be familiar with accounting processes. It’s best to get these things right from the start to build your business effectively and achieve your goals quickly.
Should I use cash basis or accrual basis accounting for my books?
Most businesses start with cash basis accounting for tax purposes, which might be all you need if your operations are straightforward. However, for businesses with more complex activities, it’s advisable to maintain your books on accrual basis. Accrual accounting provides a more accurate picture of your profitability and performance, which is essential for forecasts, profitability analyses, and other advanced financial services. We can help determine if you need to use accrual basis bookkeeping based on your tax situation.
My bookkeeper is inexpensive; why should I consider switching to a more premium service?
Often, a low-cost bookkeeper might only manage basic cash basis bookkeeping and categorize transactions broadly, possibly due to handling many clients to cover costs. This can result in outdated books that don’t reflect your current business situation accurately. Our bookkeepers at MB Accounting Group not only know bookkeeping but can provide detailed financial statements that highlight the profitability of different aspects of your business, helping you make informed strategic decisions in a timely manner.
What's the recommended frequency for bookkeeping to ensure accuracy?
We suggest monthly bookkeeping as a standard practice to keep your financials current and comprehensive. For businesses with fewer transactions, like in the early stages of a startup, quarterly bookkeeping might be feasible. However, we generally discourage only annual bookkeeping due to the extensive cleanup required and potential missed opportunities for tax planning during the year.
How much will the bookkeeping services cost?
For an estimate tailored to your specific needs, please use our online quoting tool for bookkeeping services. For a combination of bookkeeping and tax services, you can check the pricing here.
I have complex bookkeeping needs with many transactions monthly. Should I outsource or hire someone internally?
Evaluating whether to outsource or hire internally depends on your ability to manage and lead accounting staff effectively. Many business owners find it challenging to make optimal hires in accounting, which could lead to subpar outcomes. Outsourcing to a firm like MB Accounting Group allows you to benefit from our expertise at a lower cost compared to hiring full-time staff, and without the overhead of managing additional employees. In some cases, a hybrid approach with both in-house staff and outsourced expertise might be the best solution. We can advise on the most effective strategy for your business.

Have more questions?

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Monthly Bookkeeping Services To Elevate Your Business