buddywes1436

Hey guys,

How is everyone? Hope all is well on this awesome Monday! So we are on our 2nd salon and we have basically been doing everything our selves from bookkeeping to cleaning salons. We have employees who help us of course when we arnt there but we are wanting to be able to outsource a little more and now we are thinking its time for a bookkeeper/accountant. We currently have a CPA who does just our taxes and the end of year. We currently do payroll and bookkeeping with Quickbooks which is def learn as you go process. So like I was saying we think its time with the 2nd salon and all to out source this department. I have called a couple places locally to see how much they will charge and they give me an hourly rate which is good but its tough to see if we can budget it not knowing how many hrs it will take them. So my question to you (I hope its not to much personal info) is ...

How much do you pay your bookkeeper/accountant?

I am just looking ballpark figures doesnt have to be exact. And if you dont want to put a dollar amount on it can you tell me how many hrs you would say your bookkeeper/accountant works? This would help me estimate / ballpark if its in our budget.

I know this is digging a little bit deep into your business so i understand if no one wants to share exact figures. Any bit of info or advice would be highly appreciative!

Thanks for your time!

BuyersGroup

Your calling around I am sure has shown a trend it's based on local market conditions.

With business CC summaries, computerized POS, online banking, ADP payroll and UI and filings... You only have sales and excise tax to submit

I am not sure why a CPA would need to handle your paperwork except annually. More likely you need an experienced bookkeeper that will add your stuff to their portfolio maintain your quickbooks (which I HATE) files.

They will often have dozens of clients and maintain records as necessary and bill as necessary each client or they may put you on a cycle say 50 per location per month some months a bit more work sometime less but bill is always the same. How much work are you creating if you are not automated bill payments from your bank I'd switch banks. That alone reduces your workload to a few minutes a month IMO and the records would be in excel for your bookeeper to enter automatically might take them an hour for two location per month maybe 2 hours.

parrot head

My bookkeeper/accountant sometimes works for nothing, but on average makes somewhere between $30,000 to $40,000 a year net. That bookkeeper be me. lol Seriously, I'd say you should be able to get someone to do your misc bookkeeping, like taxes, state sales tax reporting and general stuff for somewhere around a $500 a month. Where do you live? I would do it for a grand. lol

House of Tan

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sun2go

Really ???


You're already on QuickBooks.

Set up all Utilities to Autopay. These will show as Debits on your checking Statement.

Either Continue with QuickBooks Payroll, or outsource and pay ADP / Paychex, etc.

Enroll for online banking and set up Quickbooks with banking account(w)

Use only 1 Credit card for all salon expenses, pay it off regularly for lowered interest (cost).

All you really need to do is enter Daily Deposits and Credit Card Credits. You CAN do this daily, but if you are watching the reports, you CAN make weekly deposits to cut down on time.

After 90 days of downloading and matching transactions to Quickbooks, 98% of your transactions will auto post, no additional work required.

Run a Payroll Report every two weeks and balance your checkbook and credit card through Quickbooks each month.

Personally, i try to Autopay everything with a CCard and get the additional time to pay, rewards points / rebates etc and ease of tracking all transactions very easily.

buddywes1436

It seems maybe we are doing more work then what we should... Daily we match our transactions with our reports and it doenst always match if there is an employee error of counting back change or something small like that. Also do you guys not keep a running tally of liabilities(taxes) that are due in Quickbooks?

We do.. When we match our reports we not only match the cash with credits cards but then each of those have to be broken down to what is sales tax and tan tax. Then you also have to separate which salon the credit goes to so we can see how well each salon is doing.

One thing I know we should prob do is get off of paying employees weekly and go bi monthly. But that is something we are transitioning into.

Like I was saying we are mostly looking to out source this (being the salon biz) as much as possible because we currently run 4 other companies as well. We are also trying to find a manager for either 1 or both salons. Which is a whole other topic on its own lol

sun2go

Salon software should generate the Tax Reports for each location.

You don't need to be on Accrual Basis as a salon is not a manufacturing company with excess inventory or large debts on receivable or payable. If you want that detail, book it with a General Ledger Entry once a month, you shouldn't be required to pay it more than that anyway.

Look at it with the KISS Method (Keep It Simple, Sweetheart) in mind, and remove resistance, don't fight it.

It's your money, why pay someone else to watch it, unless you're making that much extra and want to just spend it.

SprayRayz

I have an accountant who does my quarterly taxes, end of year and also bi-weekly payroll. I believe they use Quickbooks. I report what hours my employees worked for that pay period and they send me the report via email. Then I use my local bank to set up electronic payment to my employees accounts. Basically you just need their banking info to set it up. It is worth every penny. I pay the bank a small fee monthly to use the automatic funds transfer and I pay my accountant every 6 mos. Yearly I probably pay a little over $1,000 total for these services.

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