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Is This Basic Bookkeeping or Something Else?
I have a client with several users accessing QuickBooks Online (QBO), leading to frequent errors, including some made by the owner. These mistakes don’t just create a lot of cleanup work during reconciliation; they also impact the company’s relationships with clients and vendors.
Primarily, I manage accounts payable for the company. However, I am often tasked with investigating and correcting errors made by various users in QBO, and resolving any issues that stem from these mistakes. Additionally, I engage directly with the client’s vendors and clients to uphold positive relationships when errors affect these interactions.
My question is, what would you call this service? It’s quite time-consuming, and I want to define it accurately. Could this be considered part of basic Bookkeeping? I’ve never worked with a client whose interaction with QBO resulted in so many issues before. Any insights would be greatly appreciated.
Thank you!
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One response
Based on your description, the service you are providing goes beyond basic Bookkeeping. Here’s how you might define it comprehensively:
Service Definition: Bookkeeping & Financial Data Management Support
1. Bookkeeping & Accounts Payable Management
– General Bookkeeping: Handling the day-to-day financial transactions, which includes recording financial information, maintaining records, and managing accounts payable.
– Accounts Payable**: Ensuring that invoices from vendors are recorded accurately and paid promptly.
2. Data Error Management & Rectification
– Error Identification and Correction: Regularly investigating and rectifying errors resulting from inaccurate data entries by multiple users in QuickBooks Online (QBO).
– Quality Assurance: Implementing checks and audits to minimize data entry errors and streamline financial processes.
3. Client & Vendor Relationship Management
– Issue Resolution: Communicating directly with clients and vendors to resolve issues that arise due to data entry errors.
– Relationship Maintenance: Acting as a liaison to maintain and improve relationships with clients and vendors impacted by Accounting inaccuracies.
4. Financial Systems Management
– User Training/Guidance: Providing guidance to users of the QBO system to improve competency and reduce data entry errors.
– Process Improvement: Identifying areas within financial processes that could be optimized to prevent recurring mistakes and enhance efficiency.
Situating within Bookkeeping
While basic bookkeeping typically involves recording and organizing financial transactions, the service you are offering includes:
Recommendations
Given the complexity and additional responsibilities involved, you might consider defining your service as a specialized form of “Financial Data Management and Bookkeeping Support” or “Advanced Bookkeeping and Financial Operations Support.”
By doing so, you can highlight the value added through error management, client and vendor communication, and system improvement, distinguishing it from traditional bookkeeping services. Furthermore, consider discussing with your client the possibility of providing formal training sessions for QBO users, as it could reduce the frequency of errors and streamline your workload.
This comprehensive approach not just meets the immediate need of correcting mistakes but also addresses the systemic issues causing them, potentially enhancing the overall financial health of the company.