Top 10 FAQs About Working with P.S. Business Services

In this article, we have organized our most frequently asked questions into two sections: one for Small and Medium-Sized Businesses (SMBs) and another for our CPA partners. We hope to address the specific needs of both, offering details on the processes, services, and partnership models of P.S. Business Services.

If you have questions about topics we weren't able to answer here, please contact our team at ps@psbkservices.com.

Top 10 FAQs for Small and Medium-Sized Businesses (SMBs)

1. What specific bookkeeping services does P.S. Business Services offer?

We offer a core suite of virtual bookkeeping services, including:

• Transaction and expense categorization
• Monthly bank and credit card reconciliations
• Financial statement preparation (Profit & Loss and Balance Sheet)
• Accounts payable management for vendor bill payments
• Sales and use tax filing services

For example, if you're a restaurant owner, we can help you track daily revenue deposits and manage accounts payable for supplier invoicing. Or, if you run a construction company, we can handle job cost tracking and reimbursement reporting to keep your projects on budget.

2. How does virtual bookkeeping work?

Virtual bookkeeping allows our professional team to manage your company's financials remotely using secure, cloud-based software like QuickBooks Online (QBO). This gives you access to expert services without the cost and overhead of hiring an in-house employee.

For example, a real estate brokerage can share its rental income and expense details in QBO, while we reconcile financials to support investor reporting or tax preparation. Regardless of your industry, the system is designed for efficiency and convenience.

3. What are my responsibilities as a client?

Your primary responsibility is to ensure we receive accurate and complete information. This includes:

• Providing necessary logins for your financial accounts
• Responding to questions about uncategorized transactions
• Uploading requested documents to our secure shared folder

For example, a law firm might need to supply detailed client billable expenses or settlement deposits to maintain accurate books. Clear communication ensures precise and reliable financial reporting.

4. How do you ensure the security of my financial data?

We take data security very seriously. Here’s how we protect your information:

• We use secure Dropbox Business folders to exchange documents.
• All bookkeeping requests and changes must be submitted in writing via email or our secure client portal, Karbon.
• We do not accept sensitive information through text message.

Our robust system ensures your information is protected, whether you're in the logistics, restaurant, or real estate industry.

5. How much do your services cost?

Our pricing is customized to meet the specific needs of your business.

• All services are invoiced in advance, due upon receipt.
• Larger projects, like initial setups or historical cleanups, typically require a 50% deposit before we begin.

A construction company requiring detailed tracking of multiple job sites may need more custom pricing than an e-commerce business with a consistent transaction flow. Contact us for a tailored quote.

6. I'm behind on my books. Can you help me get caught up?

Yes! We offer cleanup services for businesses that have fallen behind on their bookkeeping.

• We define the cleanup period through a signed agreement.
• Our team organizes transactions, performs reconciliations, and delivers accurate financials for that time frame.

For a thriving restaurant juggling daily sales volumes or a law firm managing client retainers, we can help you regain financial clarity and compliance, no matter how far behind you may be.

7. How often will I receive financial reports?

We provide a complete set of financial statements, including your Profit & Loss and Balance Sheet, every month.
These reports are delivered on a predictable schedule once transactions have been classified and accounts reconciled.

Whether you’re managing fleet vehicles, real estate portfolios, or restaurant inventory, regular reports ensure you have the insights needed to make informed financial decisions.

8. What accounting software do you use?

We primarily work with QuickBooks Online (QBO), which is:

• An industry standard for small business accounting
• Seamlessly integrated with our services, enabling efficient collaboration

If you're a small construction company tracking job materials or a restaurant balancing supplier invoices, QBO makes it easy to manage and monitor your financials.

9. Will I have a dedicated person handling my account?

Yes. We believe in building personal, trusted relationships with every client.

• You will have a dedicated bookkeeper who understands your business and serves as your primary point of contact.
• Their focused attention ensures familiarity with your specific processes, from managing settlement statements to handling tenant rental deposits.

10. Why is a monthly financial review important?

A monthly review transforms your financial reports into tools for growth. It allows you to:

• Track financial trends
• Improve cash flow management
• Stay compliant with taxes
• Make informed, data-driven business decisions

For example, real estate professionals can analyze monthly rental income trends, while restaurants might review profit margins to find cost-saving opportunities. Across all industries, monthly reviews equip you to stay ahead.

Additional FAQs for SMBs

How do you handle transactions you don’t recognize?
We use an Uncategorized Transaction Spreadsheet to document any transactions we’re unsure about. This is sent to you for clarification, ensuring every item is classified correctly.

What happens if I need a service you don’t provide?
If you require a service outside our scope, such as payroll tax advisory, we can refer you to a trusted specialist from our network.

Do you offer services for businesses in specific industries?
Yes. We serve businesses across various industries. While we are experts in the logistics sector (Amazon DSPs and FedEx contractors), we also assist restaurants, law firms, real estate agencies, and construction companies with tailored bookkeeping services.

Top 10 FAQs for CPAs

This section is for our CPA partners. It addresses how we collaborate, ensure data integrity, and function as a seamless extension of your firm to better serve our mutual clients.

1. How does PS Business Services support CPAs & CPA firms?

We act as an operational partner by managing the day-to-day bookkeeping for your clients. We deliver clean, accurate, and tax-ready financials, which frees up your team from time-consuming data cleanup. This allows you to focus on high-value tax planning and advisory services.

2. How do you ensure the books are "clean" and tax-ready?

Our process includes meticulous transaction categorization with human oversight, not just automation. We perform rigorous monthly reconciliations of all bank, credit card, and liability accounts to ensure the balance sheet is accurate. Our goal is to minimize the year-end Adjusting Journal Entries your firm needs to make.

3. How do you collaborate with our firm on a shared client?

We view ourselves as an extension of your back office. With client permission, we can communicate directly with your team to resolve queries efficiently. We provide organized access to supporting documents and ensure the chart of accounts is well-maintained for easy import into your tax software.

4. Can you work with clients in niche industries?

Absolutely. We have established expertise in the logistics sector, particularly with FedEx and Amazon contractors, as well as other industries. We understand the complexities of their settlement statements, fleet assets, and fuel card reconciliations, ensuring their books are compliant with industry standards. Reach out to our team to see if we have experience in your niche.

5. What is your process for client onboarding?

Our onboarding process is structured to be seamless. We gather all necessary information upfront, including logins for financial accounts, tax account certificates, and details for setting up QuickBooks Online. This ensures we have everything needed to perform our services without delay. Schedule a discovery call to learn more.

6. Do you handle sales and use tax compliance?

Yes. We assist clients with sales and use tax compliance by preparing and filing the necessary returns and processing payments to the correct state and local authorities. This is a separate process from annual income tax filing.

7. How do you handle client communication and requests?

To ensure a clear audit trail, we require all bookkeeping information, changes, and requests to be submitted in writing via email or our client portal, Karbon. This maintains professionalism and ensures no details are lost.

8. What technology do you use for collaboration?

We use QuickBooks Online Accountant (QBOA) as our central, cloud-based portal to access and manage client QBO companies. We also use Dropbox Business for secure document exchange, ensuring all relevant files are organized and accessible.

9. How do you ensure the timely delivery of financials?

We operate on a strict monthly closing schedule. Adherence to client deadlines for providing information is critical to this process. By ensuring clients check off their task-list items promptly, we can begin processing and deliver financial reports on a predictable schedule.

10. Do you offer a referral program for CPA partners?

While we do not have a formal income-based referral program, we prioritize building strong, mutually beneficial partnerships. Our value is demonstrated through the quality and reliability of our work, which enhances your client relationships and saves your firm valuable time.

Additional FAQs for CPAs

Do you handle inter-company reconciliations?
Yes, we perform inter-company reconciliations to ensure that transactions between related entities are accurately recorded and balanced.

What are your procedures for year-end work?
We have a defined year-end process that includes completing an uncategorized transaction spreadsheet with the client and finalizing all reconciliations to deliver a clean trial balance for tax preparation.

Can you adapt to our firm's preferred chart of accounts?
Yes. During cleanup or setup, we can rename and reorganize the chart of accounts to align with your firm's standards, ensuring consistency across your client base.

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*The information provided in this content is for general informational purposes only and is not intended as financial, tax, or legal advice. Every business’s financial situation is unique, and you should consult your accountant, tax advisor, or other qualified professionals to determine the best approach for your specific circumstances.