Overwhelmed running your business and keeping up with the finances at the same time?
Weld Street Bookkeeping empowers passionate small to medium-sized business owners to confidently expand their businesses by handling their bookkeeping needs through QuickBooks Online.
Who Weld Street Bookkeeping serves:
Small to medium-sized businesses that are operating within a positive footprint between their customers and the environment
Business owners who are responsive, a little tech-savvy, and can have a laugh
Businesses using QuickBooks Online
Businesses that have ten employees/contractors or less
Businesses needing ongoing bookkeeping services, whether monthly, quarterly, or yearly
What Weld Street Bookkeeping can do for you and your business:
Make tax season easier by:
have your financials ready when filing
communicate with your tax professional for any changes needed with your books
recommend a tax provider if you’re not working with one
Provide clarity into the business's profits and losses
Open and responsive communication
Provide training for a better understanding of your financials
Provide a dedicated bookkeeper who grows to understand the nuances of your business
What Weld Street Bookkeeping cannot do for you and your business:
Provide services in QuickBooks Desktop or other bookkeeping platforms, such as Sage or Xero
Process or file your taxes directly
Bookkeeping Services Offered
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Need bookkeeping for the long-term?
Ongoing Bookkeeping
The weekly, monthly, or quarterly bookkeeping will be completed for your review in preparation for the next business loan or the upcoming tax season.
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Does the bank statement match the checkbook?
Business Bank Reconciliations
All transactions are recorded and balanced from your bank accounts and credit cards so that you have a firm grasp on what your cash flow looks like.
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How is your business doing?
Financial Reporting & Analysis
I create monthly, quarterly, or annual reports for your company and review with you where your company stands during that time period.
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Have your books fallen behind and/or do you need a full-scale clean up?
Bookkeeping Catch Up/Clean Up
I can get your books caught up so you can get your taxes filed, apply for loans, prepare for an audit, or to simply have your books up-to-date. -
Having trouble navigating and using QuickBooks Online?
QuickBooks Online Training
I’m here to show you step-by-step how to use QuickBooks for your business, such as how to complete reconciliations, receive payments, and categorize transactions.
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Do you have any employees and/or contractors to pay?
Payroll through Gusto
I am certified through Gusto to process payroll for your employees and contractors.
Interested in having a conversation?
For starters, please fill out the Bookkeeping Services Questionnaire (Link Here) before you schedule a free, 30-minute Discovery Call, as this helps to save time during the call. A Discovery Call determines if we’re a good fit to work together.
Calendar Link: Book a Discovery Call here
Interested in a paid QuickBooks Online Training Session without signing up for additional services?
Calendar Link: Book a Training Session here
The face behind
Weld Street Bookkeeping
Credentials
Bachelor’s Degree in Accounting from St. John Fisher College
Over 10 years of accounting & financial experience
Bio
My name is Latashia, and I live in Upstate NY.
I am a motivated and driven introvert while trying not to take myself (or life) too seriously. My goal is to work with clients who want to be better versions of themselves personally and in their business. I am passionate about helping clients grow in their small businesses as I continue to grow in mine. My jam is to solve the puzzle of my client’s books and to improve processes.
What isn’t my jam? Taxes. It is said that it’s one of the two things you cannot avoid in life. The tax laws seem to change too often, and I’d rather not keep up with how tax guidelines apply to different businesses/industries. I do not give tax advice. However, I will gladly work with your tax professional to ensure your financial statements are ready when it’s time to file your taxes. If you don’t have one, I have a couple of tax professionals that I will gladly recommend.
What People Are Saying
“Latashia was AMAZING to work with. Reasonably priced for a part-time small business owner like myself. She was incredibly attentive to detail and helped me navigate and organize a unique inventory system and translated that inventory into quickbooks transactions. Cleaned up my quickbooks and provided financial reports for tax filing. Incredibly communicative and an all around great person to work with. I will be going back!”
— Lauren German: Google Business Review
“Working with Latashia @ Weld Street Bookkeeping was the missing piece that allowed our small business to really scale. In addition to completing all the key accounting work streams that we originally sought help with Latashia has recommended and implemented countless process improvements, which have allowed all our employees to focus more of their time on our customers! Communicating with Latashia is seamless, and she is always extremely prompt and thoughtful in all her responses. I would unequivocally recommend Weld Street Bookkeeping to any small/medium business..”
— Justin Lo Iacono: Google Business Review
“Latashia was an absolute pleasure to work with. Very communicative, extremely efficient and over-the-top helpful! Wish I’d found her years ago! I highly recommend her services to anyone who needs trustworthy bookkeeping support!“
— Crystal Lew: Google Business Review
Have you checked out the new Aces in Business Spaces: Featured Businesses page?
How do we begin?
Step 1: Fill out the Bookkeeping Services Questionnaire and book a free Discovery Call
You’ll share your business and bookkeeping needs by filling out the Bookkeeping Services Questionnaire (Link Here) and then book a free, 30-minute, Discovery Call on my calendar (Link Here). The questionnaire helps to save time by painting a better picture of your business, and it highlights the services you might be interested in.
Step 2: We review your needs on the Discovery Call and see if we’re a good fit to work together
On the free Discovery call, we discuss in-depth what your bookkeeping needs are and how I may be of service. By the end of the conversation, if we agree that we’re a good fit to work together, we schedule a paid review of your books in their current state.
Option 1 - We look through your books together via video calling, where we go over the details of your books. With you assisting in navigating, we’ll go over any changes that need to be made to get your books up to speed.
Option 2 - I review your books on my own time. I must be invited with Accountant access to the QuickBooks Online file to perform the review. The turnaround time is between 7 to 10 business days.
The review determines pricing for future services.
Step 3: Complete a paid review of your books
Once the review is completed, we’ll go over the proposal outlining the different plans and pricing options on how we can work together based on the pain points in your books.
Step 4: We discuss and review pricing for services
FAQs
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Bookkeeping is the process of tracking and recording a business’s financial transactions. These business activities are recorded based on the company’s accounting principles and supporting documentation. Supporting documentation includes bills, receipts, invoices, and purchase orders.
Bookkeeping is just one facet of doing business and keeping accurate financial records. With well-managed bookkeeping, your business can closely monitor its financial capabilities and journey toward heightened profits, breakthrough growth, and deserved success. -
At first glance, bookkeeping and accounting may seem interchangeable. While it may be easy to confuse the two, they are not the same thing. Accounting is the umbrella term for all processes related to recording a business’s financial transactions, whereas bookkeeping is an integral part of the accounting process.
Common examples of bookkeeping include:
Recording financial transactions
Posting debits and credits to a journal
Preparing financial statements
Processing payroll
Unlike accounting, bookkeeping zeroes in on the administrative side of a business’s financial past and present. Accounting, on the other hand, utilizes data from bookkeepers and is much more subjective.
Common examples of accounting include:
Reviewing and analyzing financial statements
Preparing adjusting entries
Performing audits
Filing relevant tax returns
Without bookkeeping, accountants would be unable to successfully provide business owners with the insight they need to make informed financial decisions.
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Access to detailed records of all transactions
By logging and keeping track of all financial transactions, you will have easy access to any financial information you might need. To make it even easier, bookkeepers often group transactions into categories. When it’s finally time to audit all of your transactions, bookkeepers can produce accurate reports that give an inside look into how your the business is doing.
Ability to make informed decisions
Because bookkeeping involves the creation of financial reports, you will have access to information that provides accurate indicators of measurable success. By having access to this data, businesses of all sizes and ages can make strategic plans and develop realistic objectives.
Examples of financial statements that can help with decision-making include:
Balance sheets
Income statements
Cash flow statements
Not only can this help you set goals, but it can also help you identify problems in your business. With an accurate record of all transactions, you can easily discover any discrepancies between financial statements and what’s been recorded. This will allow you to quickly catch any errors that could become an issue down the road.
Better Tax Preparation
When it’s time to file your taxes, you’ll need to comply with the Internal Revenue Service’s (IRS) legal regulations and systems that govern their finances.
Some of the most common documentation businesses must provide to the federal government include:
Financial transactions
Financial statements
Tax compliance
Cash flow reports
By staying up to date with your bookkeeping throughout the year, you can help alleviate some of the stress that comes with filing your taxes.
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1. Consider a phased approach
Trying to juggle too many things at once only works to put your organization in danger. If you’re looking to convert from manual bookkeeping to digital, consider a staggered approach. Overhauling all at once can be overwhelming and discouraging, so it’s best to take it slow and make meaningful and intentional shifts.
2. Keep your general ledger current
A general ledger is a collection of accounts that classify and store all records associated with a company’s financial transactions. The general ledger includes balance sheet accounts (liabilities, equity, assets) and income statement accounts (revenue, expenditure, gains, losses).
Your general ledger should be up to date so that your bookkeeping software is able to provide functionality that you can navigate easily. QuickBooks is an excellent option for novice and seasoned digital bookkeepers alike.
3. Plan for taxes throughout the year
Whether it’s updating your books or keeping in contact with your tax adviser, maintain your business’s financial records and expenses throughout the year. That way, you can be well prepared when it’s time to file taxes with the IRS. Without any hiccups or last-minute scrambles, you’ll be able to enter tax season confidently.
4. Keep your personal and business finances separate
As you dive deeper into the bookkeeping process, it may be tempting to blur the lines between your personal and business finances, but it’s not the best idea. By avoiding this, you’ll reduce the risk of triggering an IRS audit and will allow an accurate picture of your business finances.
Some common ways to help keep your personal and business finances separate include:
Utilizing a business credit card for all business expenses
Setting up separate checking accounts
Keeping all personal and business receipts organized and separate
By following these tips and diligently working to keep your personal and business finances separate, you’ll get a clear view of the performance of your business, while minimizing the risk of accidentally misrepresenting your business’s finances.
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1. Do I have the expertise?
How does your accounting and bookkeeping experience size up? You may be hoping for the best and have a few college courses in your back pocket. Even with these tools, you may not have the expertise you need to handle the responsibilities of a bookkeeper.
If you’re unfamiliar with local and federal tax codes, doing your own bookkeeping may prove challenging. On the other hand, if you have in-depth tax and finance knowledge beyond the bookkeeping basics, you may be able to get the job done.
2. Do I have the time?
Bookkeeping can be time-consuming and tedious. If you’re a new business owner, you’re likely already spread thin. Adding bookkeeping to the mix may overwhelm you. But if you have the time to dedicate to updating your books regularly, doing your own bookkeeping may be feasible.
If you’re like most modern business owners, odds are you didn’t become one so that you could practice professional-level bookkeeping. Outsourcing the work to a seasoned bookkeeper can allow you to focus on your business plan and growth.
Questions sourced from Intuit QuickBooks Online article titled “What is business accounting? 21 tips for business owners”