FAQ’s
Frequently Asked Question
- While RK Bookkeeping doesn’t do tax prep internally, we do work with some exceptional CPA partners – and can arrange for your taxes to be done for you at a great price (and that your books are in-line with our CPA partners’ standards).
- If you prefer to use your own CPA, we will ensure your books are accurately updated throughout the year so they’re ready to be passed on to your tax preparer.
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Contrary to popular belief, accountants and bookkeepers perform distinctly different tasks for the businesses they serve. Bookkeepers are responsible for on-going maintenance of their clients’ general ledgers. A bookkeeper’s common responsibilities consist of:
- Compiling data on a daily basis
- Categorizing expenses in the general ledger
- Reviewing the general ledger for accuracy
- Reconciling bank statements against the general ledger
- Generating financial statements
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Accountants use the accurate and up-to-date general ledger maintained by the bookkeeper to provide advisory services, such as:
- Analyzing the company’s financial data
- Preparing income tax returns
- Providing tax planning advice
- No, we’ll include clean up for you as part of our work estimate. Your RK Bookkeeping team of financial specialists will setup your industry-specific general ledger in the cloud accounting solution that best fits your needs.
- Yes, RK can set you up with a cloud payroll system that connects with your accounting software. We’ll ensure the details from each pay run are accounted for in your financial records and reconciled against your bank statement.