Bookkeeping for small businesses in Orlando: what it is and when you need it

If you own a small business in Orlando, Kissimmee or Hunters Creek, you probably started it to do the work you are good at, not to sort receipts at night. Bookkeeping is the part that keeps getting pushed to «later». This guide explains what it is, why it matters every month (not just at tax time), and how to know when it is time to get help.

What bookkeeping actually is

Bookkeeping is recording every dollar that comes into and goes out of your business, and putting each one in the right category: sales, materials, fuel, rent, payroll, and so on. Done every month, it answers three simple questions:

• How much did my business really make this month?
• Where is my money going?
• Am I ready for taxes, a loan, or a new contract?

Why monthly, and not just once a year

Many owners bring a shoebox of papers in March and hope for the best. The problem is that by then it is too late to fix anything. With monthly books:

• You don’t lose deductions. Expenses recorded on time are expenses you can prove.
• There are no surprises at tax time. You see the numbers during the year and can plan estimated payments.
• You can show your numbers. Banks, landlords and big clients often ask for a profit and loss statement.
• Sales tax and payroll stay on schedule. Late filings come with penalties that add up fast.

Signs your books are behind

• You use the same bank account or card for the business and for personal expenses.
• You don’t know if last month was a good month or a bad one.
• You have months of bank statements nobody has looked at.
• Your tax preparer asks for numbers you don’t have.
• You got a notice from the IRS or the Florida Department of Revenue.

If two or more of these sound familiar, it is time to catch up. Being behind is very common, and it can be fixed: we start by bringing the past months up to date, and then keep them current.

What you get from us every month

• A monthly report showing how much you made.
• Books ready for your business tax return.
• Reminders before every deadline.
• A real person who answers you, in English or Spanish.

How much it costs

Our plans are month to month, with no long contract:

• Basic, $275/month: bookkeeping, up to 2 accounts or cards and 100 transactions a month.
• Essential, $495/month: bookkeeping, payroll and sales tax; 3 accounts, 250 transactions, payroll for up to 5 employees.
• Complete, $795/month: bookkeeping, payroll and sales tax; 5 accounts, 500 transactions, payroll for up to 15 employees.

Start with a free 15-minute review

Not sure where your books stand? We review them for free in 15 minutes and tell you honestly what you need, whether or not you hire us. We work with construction, cleaning, restaurants and food trucks, trucking, beauty salons, contractors, retail stores and more.

See our bookkeeping plans or ask for your free review. Toro Taxes Hunters Creek, 12701 S John Young Pkwy, Suite 109, Orlando, FL 32837 · (407) 346-8957.