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Our Services

Systems Setup

We begin by establishing solid bookkeeping systems

Leveraging experience as a Certified QuickBooks ProAdvisor and NACPB Certified Bookkeeper, Morgan Morrow will guide you through the process of choosing and setting up financial systems and processes.

Morgan Morrow will help you determine if you want to use a financial software at this juncture in the life of your business. We will discuss the alternatives as well as the pros and cons of utilizing financial software for bookkeeping needs.

If you are ready to implement a financial software system, our favorite is QuickBooks. Morgan Morrow will help you choose the version of QuickBooks that is right for your business.

• QuickBooks online is ideal for companies that do not have a server and have multiple locations or staff who telecommute. Keep in mind that the online versions are slower than the desktop versions.

• QuickBooks Desktop versions have more features and are easier to use. This may be the preferred option if all employees that handle company financial operations are in the same location or if the business has a server. 

QuickBooks Features and Pricing

QB Online

QB Desktop

 Having the following items on hand helps the QuickBooks Setup process run smoothly and efficiently

•  Company name

•  Company address and phone number 

• Company Employer Identification number (EIN)

    • An Employer Identification Number (EIN) is a unique identification number that is assigned to a business entity so that it can easily be identified by the Internal Revenue Service (IRS). It is commonly used by employers for the purpose of reporting taxes. The EIN is also known as a Federal Tax Identification Number.
    • The quickest way to get an EIN is through the IRS website.  
 
Bank, Credit Card and Loan statements for the dates you would like to start capturing data in your financial software.  
• For example: If you would like to capture all of your transactions starting January 1st of this year, you would need all of the statements from January 1st to present.
 
 
Vendor Information
   • Vendor information may be uploaded when the company file is created. The vendor company name, contact name, address and phone number would need to be available in a MS Excel spreadsheet for upload.
   • Vendor information may also be entered individually at a later date.
 
Customer Information
   • Customer information may be uploaded when the company file is created. The customer name, address and phone number would need to be available in a MS Excel spreadsheet for upload.
   • Customer information may also be entered individually at a later date.
 
Account names for your chart of accounts
   • QuickBooks will create a standard chart of accounts based on your type of business, so you would only need a list of the more specialized accounts you would like to track for reporting purposes.
   • Specialized types of revenue (ways the business earns money) that you would like to track
   • Specialized types of expenses (ways the business spends money) that you would like to track
   • Specialized types of assets (cash accounts and things the business owns) that you would like to track
   • Specialized types of liabilities (loan or financial obligations of the business) that you would like to track
 
Banking Information
Bank name, account number, routing number and online passwords to set up online access
 
Credit Card Information
Credit card name, account number and online passwords to set up online access
 
 

Morgan Morrow will help with establishing procedures that incorporate best accounting practices and efficiencies.

Morgan Morrow provides initial training as the QuickBooks company file is being created and populated. Ongoing training is available as your staff acclimates.

Bookkeeping

We offer operational support for day-to-day tasks

Enter bills in QuickBooks

Issue authorized payments

Organize source documents for future reference

Record payments

Create invoice 

Issue Invoice

Ensuring that the company’s records and bank statements are in agreement. Reconciliation is used to ensure that the money leaving an account matches the actual money spent.

Morgan Morrow will provide the financial statements you find helpful for time periods you outline.

Income statement – The income statement presents the revenues, expenses, and profits/losses generated during the reporting period.

Balance Sheet – The balance sheet presents the assets, liabilities, and equity as of the reporting date. 

Statement of Cash Flows – The statement of cash flows summarizes the amount of cash and cash equivalents entering and leaving a company. This cash flow statement complements the balance sheet and income statement.

Statement of Retained Earnings – The statement of retained earnings outlines the changes in retained earnings for a specified period. This statement reconciles the beginning and ending retained earnings for the period, using information such as net income from the other financial statements.

Morgan Morrow will prepare the appropriate adjusting journal entries necessary for accurate reporting for each indicated reporting period.

Morgan Morrow will review your ledgers, which contain a record of business transactions, for any items that look out of place or that may be incorrectly coded.

Morgan Morrow will prepare your books for presentation to your tax accountant/ CPA. We will help answer CPA questions and consult with your CPA on the nuances of how they like data presented. This will make their job easier and is likely to make your tax preparation bill smaller.

Consulting

We help small businesses tackle projects and solve problems

Morgan Morrow has corporate experience with accounting, research, data collection, soft skills training and human resources. We can join forces with you to handle projects that you would like to accomplish but are running out of resources to execute.

Morgan Morrow will help you run numbers and evaluate the story your financial statements are sharing.

Running a business is complex. Morgan Morrow can help tweak processes and procedures within your financial operations team to provide both simplicity and efficiency.

 

Morgan Morrow is available to provide training on QuickBooks and/or accounting best practices for your in-house financial operations team.

Common Questions:

   • What are debits and credits and how do they impact what I do in QuickBooks?
   • How do I enter transactions so that my reports say what I want them to say?
   • Is there a way to leverage QuickBooks and automate these manual processes?
   • How should I enter this transaction?
   • How do I reconcile an account?
   • How do I void a check from a prior period?
   • Oops, I made a mistake. How do I fix it?
Examples of Proper Segregation of Duties That Can Help Thwart Theft :
   • Where possible the person who pays the bills should not handle the deposits.
   • Payments should be approved by a person of authority before checks are written by a clerk or bookkeeper. That approved document should be matched to each check or payment before mailed or issued.
   • Where possible, one person should enter/write payments and another person signs and mails or executes payments.
   • Where possible one person should order supplies while another counts the supplies when they arrive.
   • Where possible employees should be cross-trained on duties that include financial transactions, inventory or supplies so that no one person has complete control without additional sets of eyes.

Get Your Initial Consultation on Us!

We provide end-to-end solutions helping with financial systems set up to providing turnkey bookkeeping and consulting services as your business grows. Our goal, as a company, is to step in where you need us. Our clients notice a common thread to all we do. Our actions show that we care intensely about the quality of our end product and our customer satisfaction.

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