Introductory Discovery Call

Duration: 15 Minutes

Format: Phone Consultation

Cost: Complimentary 

Our 15-minute Discovery Call is designed specifically to discuss our offered services and determine how our firm can best support your business needs. This is a high-level conversation to explore a potential partnership and ensure we are the right fit for your bookkeeping or tax goals.

Important Policy Guidelines:

• No Tax Advice: Please be advised that no tax advice, technical research, or specific financial guidance will be provided during this 15-minute session. This call is strictly for service inquiries.

• Need Immediate Advice? If you require specific answers to tax questions or a deep dive into your financial situation, please book a Paid Tax Consultation to ensure we allocate the necessary time and research to your case.

Required Action Item

• To make our time together as productive as possible, we require all prospective clients to provide preliminary information.

• The following Intake Form MUST be completed at least 24 hours prior to your appointment: Complete the Intake Form Here

• Failure to submit the form prior to the scheduled time will result in an automatic cancellation of your appointment.

Why the Intake Form is Required

In accordance with best practices for Practice Management, we use your intake data to:

1. 1. Verify that your needs align with our core competencies (ex. Domestic vs. International).

   2. Analyze your business requirements ahead of time so we can present accurate bookkeeping and assessment options during our call.

   3. Respect both your time and our firm's scheduling availability.

Mandatory Bookkeeping Assessment

Service Process & Billing Please note that the Mandatory Bookkeeping Assessment is a specialized diagnostic service performed by our team independently. Unlike our 1:1 consultations, this assessment is not a scheduled meeting.

To provide the highest level of service and ensure the integrity of your financial data, all prospective bookkeeping engagements begin with a Mandatory Bookkeeping Assessment ($150 fee). During this comprehensive review, our team analyzes your current ledger to identify necessary cleanup tasks, historical discrepancies, and workflow efficiencies. This assessment allows us to provide you with an accurate, fixed-fee quote for an initial cleanup or monthly services. Please be advised that this quote is based on the data and account volumes disclosed at the time of the assessment. 

Upon request, you will be issued an invoice for the $150 assessment fee. Once payment is received and access to your bookkeeping software is granted, we will begin our deep-dive review. Our findings, cleanup requirements, and ongoing service quotes will be delivered to you via email upon completion.

Our fixed-fee agreements are subject to immediate adjustment should new information or additional complexities be discovered after the service has commenced. Factors that may trigger a fee increase include, but are not limited to:

• The discovery of undisclosed bank, credit card, or loan accounts. 

• The identification of fixed asset schedules requiring depreciation tracking. 

• Integration or reconciliation of multiple Point-of-Sale (POS) systems or third-party merchant processors. 

• Significant increases in monthly transaction volume or the addition of new payroll and sales tax nexus requirements. 

We believe in pricing transparency; therefore, if such complexities arise, we will pause work to provide a revised service agreement/estimate before proceeding.

Monthly services quotes will only be provided after a Mandatory Bookkeeping Assessment and/or a Fiscal Year Cleanup & Catchup has been completed (if required). 

Please note that our Monthly Bookkeeping Rates are tailored to your current business volume; therefore, fees are subject to adjustment should your business complexity increase (e.g., the addition of new bank, credit card, or loan accounts; the implementation of payroll or additional employees; or new filing requirements for Sales Tax in additional jurisdictions).

Strategic Bookkeeping Assessment

Duration: 2 Hours | Lead Expert: Enrolled Agent (EA) | Fee: $250

Overview

The Strategic Bookkeeping Assessment is a voluntary, 2-hour working session designed for business owners seeking more clarity than our independent Mandatory Bookkeeping Assessment. During this deep-dive diagnostic, an Enrolled Agent (EA) will perform a live review of your data to identify structural issues, historical discrepancies, and compliance gaps.

This session serves as the essential roadmap for your financial health, allowing us to provide a high-precision quote for both cleanup and ongoing maintenance.

Session Deliverables

• Enrolled Agent Consultation: Direct access to an EA to discuss how our professional systems apply to your specific industry and business structure.

• Live Ledger Diagnostic: A thorough "State of the Books" walkthrough to identify missing data, uncategorized transactions, or reconciliation errors.

• Bookkeeping Needs Analysis: A collaborative evaluation to determine the optimal frequency for your business (daily, weekly, or monthly maintenance).

• Compliance Alignment: High-level discussion of your tax filing requirements (e.g., Sales Tax, 1099s, Income Tax) to ensure your bookkeeping workflow supports your future tax obligations.

  • • Note: Specific tax advice or planning is not provided during this bookkeeping-focused session.

• Guaranteed Price Quote: At the conclusion of the diagnostic, you will receive a formal, fixed-fee estimate for:

  • • Fiscal Year Cleanup (Historical catch-up and data integrity correction).

    • Ongoing Professional Bookkeeping (Tailored to your specific account volume).

Mandatory Session Requirements

To maximize the value of this 2-hour investment, the following conditions must be met:

• Technology: You must attend via Zoom using a desktop or laptop computer.

• Software Access: You must have active admin access to your bookkeeping software (QuickBooks, Xero, etc.) and be ready to screen-share at the start of the call.

• Engagement: Please be in a quiet environment where you can focus on sensitive financial data and answer questions regarding your business operations.

Estimate Delivery & Acceptance

Upon completion of your Step Two Assessment, you will receive a formal service estimate via email.

To maintain our commitment to current pricing and firm availability, estimates must be accepted within 14 days of receipt. Please monitor your inbox and check your spam folder regularly to ensure you do not miss this deadline. Our fee structures are time-sensitive; any quote not accepted within this 14-day window is subject to adjustment based on updated market rates and current firm capacity.

Billing & Payment Terms

1. Cleanup & Catch-Up Services (One-Time Projects)

• Payment Terms: 100% upfront payment is required for projects under $1,000. For larger cleanup projects, a 50% non-refundable deposit is required to begin, with the remaining 50% due prior to the delivery of the final financial statements.

• Commencement: Professional work will commence only after the initial payment has been received and all requested documentation has been provided.

2. Ongoing Monthly Bookkeeping

• Payment Terms: Monthly services are billed on a pre-paid basis.

• Due Date: Invoices are issued on the 1st of each month and are due upon receipt.

• Automated Billing: To ensure uninterrupted service and real-time financial reporting, all monthly clients are required to keep a valid payment method on file for automated processing.

• Service Suspension: Work is performed for the current month once payment is secured. If payment is not received by the 5th of the month, services will be paused until the account is brought current.

Documentation & Information Acquisition

Overview The accuracy of your financial reports is directly dependent on the quality of the underlying documentation. This phase is dedicated to the secure collection of all necessary financial records, bank statements, and supporting documents required to verify your business transactions.

What to Expect: To provide a comprehensive cleanup or maintain your monthly books, we will require access to:

• Digital Statements: PDF copies of all bank, credit card, and loan statements for the periods under review.

• Support Documentation: Receipts, invoices, and bills for significant or complex transactions to ensure proper categorization.

• Third-Party Access: Read-only access to your financial institutions and Point-of-Sale (POS) systems (where applicable) to streamline data flow.

Our Policy on Information Requests:

• Confidentiality: All documents are handled via our secure, encrypted client portal to ensure your sensitive financial data remains protected.

• Timeline Impact: To maintain our delivery schedule, we ask that all requested information be provided within 48–72 hours.

• Work Continuity: Please be advised that work on your file will be paused if there are outstanding documentation requests. Timely information acquisition is essential to ensure the integrity of your financial statements and the accuracy of our Enrolled Agent review.

Bookkeeping Work Commences

Overview Once the initial assessment is complete, the estimate is signed, and the initial payment is secured, your file officially enters our Production Queue. At this stage, our team begins the technical execution of the Agreed-Upon Terms outlined in your service estimate.

What This Phase Includes:

• Implementation of Scope: We begin the systematic categorization of transactions, bank reconciliations, and ledger adjustments as specified in your contract.

• Adherence to Timeline: Work is performed according to the schedule established during onboarding (e.g., historical cleanup first, followed by transition to monthly maintenance).

• Communication of Discrepancies: Should our team encounter items during production that fall outside the original "Agreed-Upon Terms," we will notify you immediately to discuss a change in scope.

• Defined Boundaries: To maintain efficiency, our team focuses strictly on the tasks defined in the signed estimate. Any requests for services not specifically listed in the current agreement will require a separate service addendum.

• Client Availability: While we handle the heavy lifting, we may occasionally reach out during this phase for clarification on specific transactions. Timely responses ensure that your work stays on track for its scheduled completion date.

Reliance on Client Information & Classification Policy

Accuracy of Source Data The classification of all business transactions—including deposits, withdrawals, and expenses—is based strictly on the information, documentation, and explanations provided by the client. 1st Bookkeeping then Taxes relies on the accuracy and completeness of the data you provide to categorize your financial activity.

Liability for Mis-categorization While we apply professional standards to every entry, our firm does not audit or independently verify the underlying business purpose of every transaction. Consequently, 1st Bookkeeping then Taxes assumes no responsibility or liability for the mis-categorization of any financial data resulting from incorrect, incomplete, or misleading information provided by the client nor for expenses transactions classified or categorized by the client prior to engagement. 

Client Responsibility It is the client’s sole responsibility to ensure that:

• All expenses categorized as "Business" meet the IRS criteria for being ordinary and necessary.

• All deposits are correctly identified as taxable revenue, owner contributions, or non-taxable loan proceeds.

• Supporting receipts and documentation are maintained by the client to substantiate the business purpose of all recorded transactions in the event of an agency inquiry.

Finalization & Financial Delivery

Overview The final phase of our process involves a rigorous quality control review and the delivery of your financial package. Once all reconciliations are complete and the ledger is balanced, your records undergo a final Enrolled Agent review to ensure accuracy and tax-readiness before the reporting period is officially closed.

Deliverables & Reporting:

• Standard Financial Package: You will receive your essential financial statements, typically including the Profit & Loss Statement (Income Statement) and the Balance Sheet.

• Management Review: We provide a summary of your business’s financial health, highlighting key trends and any areas requiring your attention.

• Tax-Ready Ledger: For cleanup projects, you receive a finalized, adjusted trial balance that can be provided directly to your tax preparer.

Terms of Finalization:

• Final Approval: Upon receipt of the reports, you have a 72-hour review period to ask questions or request clarifications. After this window, the books for that period are considered "closed" and final.

• Payment Requirement: Please be advised that final financial reports and cleanup files will be released only after the final balance of the engagement (if any) has been paid in full.

• Period Closure: To maintain data integrity, once a period is finalized, no further changes should be made to the software by the client. Any retrospective changes requested after finalization may incur additional service fees.