Frequently asked questions
How does outsourcing my financial operations (or components of my financial operations) work?
When business owners need skills or expertise that they cannot currently support, it may make sense to outsource that function rather than hire someone. The cost of an employee can be significant – much more than the actual wages paid. Breakwater will do the work required to support your financial operations from our offices or yours – freeing you to focus on your business and customers. We will either physically or electronically pick up the necessary files needed to manage your accounting and bookkeeping functions. You will have 24/7 access to your books so that you can keep an eye on your business’s financial health.
How much will the bookkeeping and/or payroll processing cost?
Every customer is different. At breakwater we excel at the individual service we can offer each customer while providing an affordable option. A breakwater professional will meet with you to identify your current needs and then discuss proposed options. Most breakwater customers choose a monthly flat fee. If there is initial clean-up or set-up involved, we will charge a one time start-up fee depending on the complexity of your existing financial operations. If at any point your needs change, breakwater will revisit and reassess the fee.
The conversion process depends on how your books were managed prior to hiring breakwater. We have converted customers in as quickly as a day.
How long will it take to set up or convert my current books and finances?
How will my accounting data be managed and reconciled?
Breakwater professionals will ensure the appropriate bank feeds are set up, collect any necessary paperwork and bank statements from you, and manage your books from our offices. We provide on-site support as needed and required.
Who will be paying for the accounting software?
As a QuickBooks ProAdvisor and Xero Certified accountant, breakwater receives reduced rates to subscribe to the necessary accounting software and passes those rates directly on to you the customer. There is no markup whatsoever.
What will my business need to provide to the breakwater team?
All we need from you is access to your current bookkeeping software account and the necessary financial documents to stay up to date with all of your financial needs.
Are you able to help my small business file taxes?
We do process your payroll taxes and reporting. We do not prepare business tax returns, but we will prepare and deliver a clean year of books to your tax accountant should you choose to work with us.
Do you provide accounting services for individuals?
At this time we only serve small and medium sized businesses. We do provide guardianship, child support, and forensic accounting services for law firm clients.
I'm not sure exactly what my small business needs. How do we proceed?
Call us – 302-543-4564! We will talk with you, get to know your business and offer suggestions and a proposal, with your comfort being our utmost priority.