Advice and Support: ABC can provide advice and support to help manage the finances of your organization.
Our areas of expertise include:
- Cooperative Technical Assistance (start-up and operating)
- Budgeting, cash flow projections, and financial modeling
- Nonprofit audit support
- Internal process review, internal controls, and creating financial policy manuals
- Transitioning accounting systems from fiscally sponsored to independent 501c3
- Product and service review and development
- Technology consultation, selection, and implementation
Training on How to Do Bookkeeping: ABC can support sole proprietors and freelancers, staff, and members of organizations with training and professional development. We’ll build on what you already know and answer questions when you run into something new in your bookkeeping and finance processes.
Bookkeeping Review and Oversight: For organizations looking to strengthen their internal controls and separation of duties: If you do your books in-house, ABC can be another set of expert eyes for an added layer of accuracy in your financials. Depending on your needs, this can include:
- Quarterly Review and Oversight
- Quarterly Reconciliation
- Year End Review: Proofread making sure your books are clean, complete, and ready for 1099 filing and for sending to a tax professional for on-time filing
$275/hour standard rate (info on our solidarity rates linked here)
An ABC bookkeeping plan ensures your books are up-to-date and accurate, so that you have a strong financial foundation for your work. Monthly tasks can include:
- Input all transactions for bank accounts and/or credit card accounts
- Reconcile bank and/or credit card accounts
- Provide Balance Sheet, Profit & Loss, and any other basic financial reports needed
- Accounts payable and receivable: Tracking revenue, creating invoices, and recording payments; Entering vendor bills and payments
- Journal entries (accruals, deferrals, AJEs, etc.)
- Running and recording payroll (outsourced)
- Record keeping and filing
- 1099 preparation and filing (additional cost for form plus applicable postage)
Standard rates listed below (info on our solidarity rates linked here)
Bookkeeping Plan FAQ
Intake process for new clients: We begin with an Initial Assessment (if you have books existing already) or a Set Up Package (if you’re starting from scratch). After this, we will give a quote for the monthly service plan level of your specific books and needs.
For ongoing clients, ABC reviews the scope of work periodically and adjusts service plan level if there are significant changes to volume or complexity so we can shift as your organizational needs shift.
XS Extra Small - These tend to be sole proprietors or freelancers with <$250K in annual expenses, fewer than 50 transactions per month in 1-2 bank accounts and credit cards.
Small - These tend to be small organizations with <$500K annual expenses, simple payroll for up to 5 employees, up to 100 transactions per month, and 3-5 bank accounts and credit cards. Extra small organizations with additional manual or more complex bookkeeping needs may fall into this service plan level.
Medium - These tend to be medium organizations of <$1M in annual expenses, payroll of up to 10 employees, up to 200 transactions per month, and 6-8 bank accounts and credit cards. Small organizations with additional manual or more complex bookkeeping needs (including fiscally sponsored projects, patronage tracking, and investments) may fall into this service plan level.
Large - These tend to be large organizations of over $1M in annual expenses, payroll of more than 10 employees, more than 200 transactions per month, and more than 8 bank accounts and credit cards. Medium organizations with additional manual or more complex bookkeeping needs (including fiscally sponsored projects, patronage tracking, and investments) may fall into this service plan level.
A Bookkeeping Service Plan may include some or all of the tasks listed above, and the tier will vary for each client based on volume and complexity.
The majority of communications for Bookkeeping Service plans are asynchronous, however, Bookkeeping Service plans's flat rate can include up to 1 hour per month for calls for bookkeeping-related questions. Additional meeting time beyond 1 hour per month, if needed, will be billed under our Consulting service rate.
Ready to get started?
We start all potential bookkeeping relationships with an Initial Assessment (IA).
We’ll review your current financial systems and have a 1 hour call to look together at your books and get to know your needs. We’ll also share how our cooperative works and answer any questions you have about ABC. After the call, we’ll create a deliverable that identifies any issues, makes recommendations, and includes quotes for services (e.g. clean up, systems development, consultations, ongoing bookkeeping, training, and/or referrals).
The IA lets us get to know one another and figure out if a working relationship would be mutually beneficial. The IA deliverable is designed as a standalone consultation and can be used to find the best fit for your needs, whether that’s ABC or another provider.
$380 standard rate (info on our solidarity rates linked here)
Set Up Package
If you are just getting started with an accounting program, we can make sure it’s correctly configured and orient you to your new system. This includes:
- Setting up your organization on QuickBooks Online, QuickBooks desktop for Mac/PC, Xero, or GnuCash
- Configuring the chart of accounts
- Setting beginning balances for balance sheet accounts
- Setting up bank and/or credit card feeds
- An orientation on the basics of information entry and pulling reports
$1,100 standard rate (info on our solidarity rates linked here)
Workshops and trainings
Cosmos: Financial Education for Other Worlds is the branch of the coop that houses ABC’s workshop and facilitation offerings. Learn more about this part of our work at this link.
ABC is taking on only remote work for the duration of the Covid-19 crisis. This means that:
The coop will not require any workers to travel for work.
All new client engagements will be 100% online.
We will maintain this policy in alignment and solidarity with the Peoples’ Strike Demand: “No return to work or end to physical distance until health experts determine it is safe.”