Our Process

Dear property investor, and a potential client. Thank you for your interest in professional bookkeeping services for your business.

Before learning about our process please read the notes below to get a better understanding of who we work with, and how we work and don't work.

Who we work with

We help landlords, house flippers and property wholesalers achieve financial clarity, so that they can make better decisions, save time, and focus on growing their business.

We don’t work with companies that require daily bookkeeping and tracking time.

Software

We work exclusively with QuickBooks Online accounting program.

If you currently use a different system and are happy to move over to QBO we can help you with this process.

With a QBO subscription we can organise and categorise your financial statements by class, so that you can see how each of your properties is performing, on a separate report.

This gives you a better understanding and control of your business finances.

Working on your books

We like to work on your books at least once a week, and reconcile your Balance Sheet monthly. We can agree on reporting submission dates.

Our basic reporting package includes following financial statements: Profit and Loss (P&L), Statement of Cash Flow, and Balance Sheet. However we offer you flexibility - we are happy to customise your reports in a way you want them.

Billing

Our fees are based on a project-based pricing model, where we agree on a specific scope of work, rather than charging you by the hour.

What we don't offer

You can read about services we offer here. However we don't provide the following:

Self-Assessment Tax Return

However we will organise your books in a way that your accountant will be able to help you with any tax queries and prepare your annual Tax Return.

Payroll management

If you require to process payroll please use a payroll software of your choice. However, we will account for your payroll expenses and reflect them in your books when they are paid.

Our Process

• Please schedule a free consultation. You can email us or fill out the contact form to arrange an introductory call.

• We will talk about your property investments, your bookkeeping system up to this point, and how we can best assist your business.

• This discussion will help us better asses how long it might take to clean up or create your financial records.

• Within a week of our call we will send you a proposal which we will then discuss on a follow-up call, where we can answer any questions you might have.

• If you think that working with a professional bookkeeper is the right move for your business, we will send you a letter of engagement.

• In order to organise your financials, we will need to clean up, or recreate, your financial records, reconcile income and expenses and then enter all data into QBO software. This will give you the most accurate picture of your business. If you have multiple properties, you will see a clear picture for each one of them.

• Once all is in good order, we can take over managing your accounts and provide you with monthly bookkeeping services. This will eliminate the burden and stress of doing the bookkeeping yourself.

Importance of Good Communication

Our main goal is to create an effective bookkeeping process for you. For that reason we will have to ask you questions about different types of transactions in your business. It is important to establish good communication to avoid delays and problems down the line.

Once a good process is in place, you will have a clean start, giving you peace of mind that your bookkeeping is taken care of. You will have more time to to focus on more important activities - taking care of your properties and your business.

When you work with Sierra Bookkeeping Solutions, you can expect professionalism, confidentiality, attention to detail and efficiency.