Detailed information on how we provide our bookkeeping services to our clients that are receiving a full-service (Launch, Go, Grow) bookkeeping service.
Our startup bookkeeping service is aimed at providing you a timely, accurate service ... on a weekly basis.
When you join Standard Ledger, we'll confirm which day of the week we'll be processing your books (so you've got an up to date position for the following week), and who your contact people are.
Note that while we may review any submissions you've done or queries you may have raised during the week, this is not guaranteed. Note, if needed, we can always step up the frequency of our reconcilaitions to bi-weekly, and even daily. Additional charges apply.
What we need from you
- During the week you should submit any invoices/receipts or expenses via the Dext (formerly Receipt Bank) App or email service. You should send in both things that you have paid, and are due to be paid.
- We recommend that you login to Xero ideally weekly (after our processing has been completed) and a) review/respond to any queries we have raised; b) review any payables that may be due; and c) review any customer invoices that are overdue and which you could follow up for collection
- When we send your weekly update email please reply with answers to any queries we have raised about your books that are not in Xero itself
- You should also keep an eye on Bills you need to pay. When you send in your invoices to Dext, if they've been paid (eg on your credit card) we'll see and reconcile them. This leaves those bills that are still due to be paid. When you're smaller, you'll be watching your cash and paying these yourself, personally which is why you need to keep an eye on them.. when you're bigger, and there's enough regular cash, our accounts payable service kicks in where we then keep an eye on due dates for you, letting you know when bills are due to be paid
- Each month, we also recommend that you login to Xero and review the P&L and Balance Sheet reports at a minimum as well as any Actual vs Budget reporting you may have in place.
What we do
On your nominated processing day, we'll a) review all invoices and receipts sent through Dext b) review all bank account transactions; and c) raise any queries we may need clarification for.
- Note that there may be times when receipts have been submitted into Dext by you that do not immediately appear in Xero ... until our next weekly processing cycle
- We will raise any bank transaction queries directly within Xero, using the Discuss tab, and ask that you respond through this same tab so we can allocate
- Each week, you will receive a weekly email update from the assigned bookkeeper, this will highlight that we've completed your processing and whether there are any queries we need a response on.
If you have any questions please send them to your nominated team member or support@standardledger.co and one of our team will respond. You may also want to check out our asking a question FAQ.
Notes:
- We can only maintain your books if we have information back from you on a timely basis. This means that when we've asked for you input on any particular transactions, we'll need a response to this to finalise the treatment.
- We sometimes get asked where our bookkeepers are based. In order to provide a start-up friendly cost-effective price we use offshore bookkeepers, based in Manila, for our core bookkeeping service. We have consciously chosen to partner with larger firm(s) to ensure a high quality of service. While, technically, this is a outsourced function, our people are genuinely part of our extended team and are actively involved in staff development ... because people matter to us.
