Frequently Asked Questions.  

Who we service.  

Numberhub offers support across various industries including: Property Management, Construction/General contracting, legal services, Real Estate, Consulting services, Vacation rental / Bed & Breakfast, Veterinary services, Medical and Aesthetic clinics, Food and Beverage establishments, Landscaping and construction, Interior Design, Oil & Gas, Specialty Gym & services 

 

Getting started.  

The process is simple. Reach out to us and we will set up a free phone consultation.  

Billing process. 

Numberhub offers hourly billable services that are customized to the level of support you choose. Invoices are sent out monthly, either on the 15th or the last day of the month, depending on the engagement commencement date.  

  • Visa

  •  MasterCard 

  • Check 

  • ACH  

Common Accounting questions.  

Can I do my own small business accounting? 

With so many affordable accounting tools available, it’s easier than ever for business owners to do their own accounting. Many accounting operations are automated in the software, making it easy to integrate financial transactions. However, doing your own accounting for your business may not always be the best plan if that data is not setup or captured or categorized correctly. Accounting details are the driving force behind financial reporting. These reports impact not only tax obligations but other significant business activities like pursuing investors or financial lending, investments into equipment or inventory, adding employees or expanding your business. Bad data can lead to poor business decisions. Leveraging expertise in the field of accounting can provide the necessary assurance to the successful growth of your business. 

 

Can I hire someone to do my QuickBooks? 

QuickBooks ProAdvisor consultants are extremely well versed with the accounting software QuickBooks, and can best leverage system features to optimize operational needs specific to your business. 

Is it worth it to hire an accountant for a small business? 

An accountant can help you establish best business practices from the early stages of growth by properly implementing an accounting system to handle invoicing customers, collecting payment, processing payments to vendors, capturing personal investments into the business, processing payroll and submitting/reporting payroll taxes. They will also be able to guide you through financial reporting and understanding what key financial information can best serve future business strategy and management decisions. Could these functions be completed by the business owner? Of course. But is this the best use of your time? Leveraging a professional’s expertise in the field of accounting leaves you free to focus on ways to keep your business growing. 

What accounting is needed for a small business? 

Small business owners benefit from establishing a simple accounting solution, like QuickBooks Online, in order to manage their financial activity accurately and efficiently. QuickBooks subscriptions meet best accounting practices for managing outgoing expenses and investments into the business, revenue tracking and receivables, payroll, inventory tracking and financial reporting. 

What is the difference between an accountant and a CPA? 

A Certified Public Accountant (CPA) technically refers to a level of training and certification. Only accountants that have pursued the CPA certification and have passed the test can call themselves a CPA. Simply put, all CPAs are accountants but not all accountants are CPAs. To become an accountant, a bachelor’s degree in finance, accounting or related field is required.

It’s important to note that CPAs are needed in specific instances that small business may not demand such as government accounting (public), non-profit accounting, internal auditing, management of IRS auditing process, and tax preparation and consulting.  

 

As for an accountant’s role, typical responsibilities include setting up and maintaining accounting records, managing financial operations, planning for the future, consulting in terms of accounting strategy and financial business management.  

 

Ultimately, accountants and CPA are equally involved in essential activities to assist business owners with finances and help clients stay on track and informed about the financial status of their business. Despite similarities, these positions have different functions. Many specific duties set them apart so it is important to understand what needs your business has and find a reputable professional with the experience, expertise and certifications that compliment those needs. 

What does a bookkeeper do vs accountant? 

Many people refer to bookkeepers and accounting interchangeably, however, these operations are not synonymous. The experience level with bookkeepers are typically acquired through on-the-job training or bookkeeping certifications. Accountants obtain their designation through accounting or finance degrees and may be CPAs. The services provided also differ as bookkeepers provide specific business-level solutions while accountants can provide more complex solutions for tax planning, accounting software integration, human resource management and payroll, and other higher level business operation planning and managerial accounting needs.