Royce Bookkeeping

Royce Bookkeeping Hey there, I'm Trevor! I can help you take back your time, reduce stress and reach your goals faster with professional monthly bookkeeping.

Be informed to make better decisions with easy, accurate financial reports sent straight to your inbox!

Are you ready to start making MORE $ as a business owner?! Join us today ( JBC Presets] + ) for an awesome live Q&A all...
03/16/2022

Are you ready to start making MORE $ as a business owner?!

Join us today ( JBC Presets] + ) for an awesome live Q&A all about how proper bookkeeping can actually help you make MORE $!

Got specific questions? Ask us below in the comments and we’ll answer during the live! 👇🏼

See you there at 3pm PST today (March 16) on JBC Presets] ‘s page!

Are you a soloprenuer? Filing as a sole proprietor might seem tempting, but I'd really encourage you to form an LLC. ⠀⠀⠀...
03/14/2022

Are you a soloprenuer? Filing as a sole proprietor might seem tempting, but I'd really encourage you to form an LLC.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Becoming an LLC provides you with similar legal protections to a corporation, but enable you to run your company as a small business. Win win!

Why would your small business want such a structure? LIABILITY PROTECTION

Since corporations are separate legal entitles, the personal assets of an owner are shielded from the debt responsibilities of the corporation.

So, in a sole proprietorship, your personal assets could be liquidated to cover your business debts. Your car. Home. Personal Bank accounts. Yikes. 😬

You'll gain the limited liability protection similar to that offered by corporations with an LLC, but without the cost and complexity that corporations bring.

Forming an LLC is a simple process that offers you and your family peace of mind!

Money doesn't have to be the taboo subject that we’re told it is.💰
03/09/2022

Money doesn't have to be the taboo subject that we’re told it is.💰

Let's start fresh this year! 🧹 #1 Begin tracking your invoices. You might find that you've wound up with a lot of unpaid...
03/08/2022

Let's start fresh this year! 🧹

#1 Begin tracking your invoices. You might find that you've wound up with a lot of unpaid past-due invoices.

#2 Learn how to categorize your business expenses. You might be losing a lot of money due to mis-categorizing.

#3 Nail down the sales tax applicable to your business model. Inaccurate sales numbers might result in fines.

What tasks do you like to tackle after tax season?

Make sure this one report is accurate when applying for a business loan! 👀
02/23/2022

Make sure this one report is accurate when applying for a business loan! 👀

If you’re planning on writing a purchase off as tax-deductible, make sure it meets these requirements! ✅
02/22/2022

If you’re planning on writing a purchase off as tax-deductible, make sure it meets these requirements! ✅

Here are the hard numbers between bringing on a bookkeeper to be in the office and outsourcing online. 🤯Traditional Full...
02/18/2022

Here are the hard numbers between bringing on a bookkeeper to be in the office and outsourcing online. 🤯

Traditional Full time bookkeeper:
Median US salary is $47k per year
+ Taxes/Health Benefits: ~ $19k per year
= Total Annual cost of ~ $66,000 per year

Virtual Bookkeeper: $400 - $1500 per month (based on complexity)
+ No taxes/Health Benefits $0 per year
= Total Annual Cost of $4,800- $18,000 per year

Cashflow determines the fate of your business! Don't go it alone. 💰
02/16/2022

Cashflow determines the fate of your business! Don't go it alone. 💰

It's common to get these two confused. Where are the lines drawn? Who does what? These two actually work together to ens...
02/15/2022

It's common to get these two confused. Where are the lines drawn? Who does what?

These two actually work together to ensure you and your business are thriving!

In short, a bookkeeper sets you up with the daily habits and systems that support long term success and a CPA advises on long term strategies for your business.

That said, don't be surprised if both professionals offer many of the same services, but here's a general take on what tasks each specialize in:

Bookkeeper:
Daily Accounts Management
Prepare Monthly Financial reports
Invoice Management
Vendor Communication
Accounts Payable/ Receivable Management
Inventory Management
Budget Management & Allocation
Tax Season Prep (Liaison with CPA)
Maintain Software & Security
Revenue & Expense Management
Payroll Management
Accounts Payable/ Receivable Management

CPA:
Long Term Financial Planning
Offers Retirement/Investment Advice
Conducts detailed audits
Verifies Year End Financial Documents
Files taxes

Good Rule of Thumb: An asset is anything that has a useful life longer than 2 years.
02/15/2022

Good Rule of Thumb: An asset is anything that has a useful life longer than 2 years.

Address

Longmont, CO
80501

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