Frequently Asked
Questions

  • When should I contact a Financial Service Provider?

    As soon as you start to think about your business, an accountant can help you take the next steps. We can discuss your business's organization, financial operations, along with target pricing and profit margins.

    If you have started your business and finding that you are spending more time handling financial tasks (i.e. spreadsheets, processing payroll, paying bills, and organizing financial operations) than actually advancing your business- than NOW would be the perfect time to contract with a financial service provider to manage and oversee all day-to-day financial activities.

  • Do you work with all types of businesses?

    We serve small businesses that are service providers, agencies, consultants, course creators, or online business owners. If you do not fall within those business types we would still love to hear from you. We have a network of other high-quality financial service providers that may be able to assist you.

  • How often will I receive financial reports?

    Our bookkeeping clients receive financial reports every month.

  • What can I expect the onboard process to look like?

    Our onboard process looks different for every client and enagement. In general, for our bookkeeping clients, you can plan to be somewhat active with us while we are collecting data, reports, statements, and credentials. After this process, our typical engagements leave little requirements on the part of the business owner.

  • Do you provide Financial Analysis and Strategy as a stand-alone service?

    We do. Some of our clients manage their own bookkeeping and our engagement is specifically to consult on the financial analysis and strategy of the business. The key factor of success of this service is, however, accurate bookkeeping. Inaccurate or messy books do not allow for a successul financial advisory relationship. Bad data in, bad data out. We LOVE bookkeeping as it is the foundation for all accurate financial decisions and we are happy to discuss the addition of this service in conjunction with Financial Advisory and Strategy.

  • What are some typical areas of analysis with small businesses?

    While every business is unique there are consistant areas that we focus on with our clients. This includes, but not limited to, profitability, cash on hand, expense management, return on investment, labor multiplier, debt repayment, team growth, and owner equity.

  • Will Wellspring Financial file our taxes?

    Wellspring Financial will partner with your CPA or tax preparer for year end tax returns. Our ongoing monthly service plan will allow for you to have all of your ducks in a row when it comes time to file state and federal returns.

  • Can you process payroll?

    Yes. Our preferred payroll platform is Gusto.

  • Do you only use QuickBooks online?

    Yes. We love QuickBooks Online!