Frequently Asked Questions

Every month, business related income and expense transactions will be categorized and a financial statement consisting of a Balance Sheet and a Profit and Loss Report will be provided to the client. These reports will provide the business' monthly financial situation to make sound decisions for the business' future.  These are also required in order to do any tax planning or to obtain any business loans.  Unlimited email and text support is also included.

Anything above and beyond basic tracking of income and expense items for the month not listed in the Basic Bookkeeping package above. However, additional services are available that can be added to the Basic Bookkeeping Package. 

Additional Services offered are Quickbooks Online (QBO) basic training, customer invoicing, vendor bill payment, back work clean-up, and vendor 1099 forms.  Should you need payroll services, we are partnered with a very reputable payroll company to help you stay in compliance with the various federal and state agencies.  We are also partnered with tax accountant professionals that offer stellar tax planning meetings and tax preparation for your business' tax returns. 

Ideally, our bookkeeping team will need access to the business' bank and credit card accounts in order to efficiently complete the monthly financials.  Many banks allow for accountant's access (read-only).  This access helps us keep our fees affordable and efficiency high. This will also alleviate having to send statements through an unsecured email as your bank account will automatically be securely connected to your QBO account and your QBO client account with us. A  list of other items needed relating to your specific business will be forwarded to you upon a requested quote.

Bailey's Books, LLC uses Keeper Security password vault where we securely store our client's login credentials.  Passwords are encrypted with the strongest encryption standard (AES-25) so you know that your information is safe.  We also use McAfee Total Protection services to ensure your electronic correspondence and documents are maintained on a secured server.  

Yes. Our team must use QBO in order for us to handle your bookkeeping. QBO acceptable versions are Essentials, Plus, or Advanced. QBO Simple Start nor Self Employed are acceptable as these do not allow for accountant services. If the business owner already has a current subscription, the business owner would need to invite Bailey's Books, LLC as their accountant. (Gear Icon >Manage Users > Accounting Firms > Invite Accountant) If a new subscription is needed, we can assist you in establishing an account or we can establish one for you. Adding a subscription through the link that we provide will allow you to obtain a discount on any QBO subscription. 

We strive to respond to our clients questions or concerns within 24 hours, excluding weekends and observed holidays.  We do use M-F 9-4 work hours to address emails and phone calls. 

A contract is not required for bookkeeping services; however, we do require an engagement agreement (terms of service) to be signed.  We also require that you have a free Melio account to pay your invoices via ACH.   

Sharon Bailey, Owner of Bailey's Books, LLC,  has joined the team at FIT Financial Solutions as a Financial Professional.  FIT Financial Solutions works with clients to help them take control of their financial future through education and the creation of a comprehensive financial strategy. This strategy is designed to assist clients with planning and managing the four critical areas of their financial futures: Supplemental Retirement Income Solutions; Social Security Maximization; Estate and Legacy Protection; and Medicare and Long Term Care Solutions. In the role as a Financial Professional, Sharon is able to offer financial reviews, including retirement planning..