Congratulations on completing your onboarding! We've now set up the tools and resources to successfully run your back office. Collective Bookkeeping will be the next phase of your journey to success. We've outlined below what you need to know.

Our Partnership

What We Do

What we need you to do

Understanding your Numbers


Our Partnership

As a Collective member, we want you to focus on your passion, not your paperwork.

Your assigned Accounting Advisor will be hard at work monthly to keep your books updated for quarterly taxes. We will upload your financial reports to your dashboard so you know where you stand with your finances every month.

Since you are the expert in your business, we’ll need your help with certain transactions and will reach out to you when we need more information. We also need you to review your financial reports and let us know if you have any questions. Finally, let us know about changes that may affect your bookkeeping.

We appreciate your timely response so we can keep your books accurate and complete. Teamwork makes the bookkeeping dream work!


What We Do

Each month we’ll be hard at work to:

  1. Put your income and expenses in the right category so your tax deductions are properly tracked as you go. Those deductions are really important when it comes to lowering your tax bill!

  2. Compare your bank and credit card accounts to 3rd-party bank statements to make sure the books are complete. We’ll help to make sure everything lines up as it should so you know that your numbers are current and accurate.

  3. Review your financial reports with expert eyes before handing them off to you.

  4. Provide your complete financial report package. We’ll provide you: Profit & Loss YTD Comparison, Balance Sheet, Cash Flow Statement, General Ledger, and Accounts Receivable and Accounts Payable Detail (if applicable).

  5. Get ready to close your books at the year-end to make sure everything is buttoned up and ready for tax season.


What we need you to do

  1. Send us your business bank/credit card statements monthly o allow us to reconcile your books to the bank so we can identify any errors and duplicates. Your 3rd-party PDF bank statements are used to double-check the bank feeds in your accounting software.

  2. Send us your accountable plan worksheets monthly so we can deduct mixed-use expenses (expenses that are both personal and business such as your home office)

    You can securely upload #1 and #2 before the 15th of the month to your dashboard > navigate to the Documents tab > and click on Update documents

  3. Provide information on certain transactions. Since we are not part of your day-to-day operations, we are not as familiar as you are with some of the transactions. Occasionally, there will be transactions we’ll need your help with. We’ll reach out to you for information and we'd appreciate your timely response to keep your books updated.

  4. Review transactions on your financial reports. We ask that you review the General Ledger report showing all transactions categorized for the month sent along with your financial reports. If you have any questions on the transactions, please reach out to align and make timely corrections, if needed.

  5. Let us know if:

    1. You opened a new business bank or credit card.

    2. You took out a business loan or sold a business asset during the year.

    3. Your health insurance is not run through payroll or your premiums increased/decreased.

    4. Your state unemployment insurance rates increase.

Without this information, the books won't be accurate and complete.


Understanding your Numbers

We can offer you a one-on-one financial analysis of your books! We'll show you the tools and information you'll need to help make informed decisions about your business right at your fingertips. We will be looking at sample reports, customizing them as needed, and we'll show you critical numbers that you should always be aware of. Reach out to your Member Relationship Manager (MRM) to schedule a meeting with our Accounting & Payroll Advisor.


Got questions? Send us an email at [email protected]. Your MRM will help with your accounting and payroll questions. If there are specific questions about your books, we will connect you with your assigned Accounting Advisor so you can ask all the detailed questions!

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