On-line bookkeeping is a new concept for most businesses. We have tried to answer the most frequently asked questions here. If you have a question that is not answered in our FAQ, please email us.

What is Daily Balance?

For a fixed fee – typically less than the cost of a full-charge bookkeeper – Daily Balance will provide a Daily Bookkeeper Package, handling the daily transactions and providing monthly financial statements. Another option is the Daily Controller Package which encompasses our Daily Bookkeeper Package plus regular consultations with a CPA. When more in-depth assistance is needed our Daily CFO Package assists with various strategies such as succession, mergers and acquisitions, all critical crossroads for which professional help is advised.

Who Controls My Money?

You have 100% control over all of your cash and the decisions on how it is used or invested. You decide what individuals and which vendors get paid. We provide the data, but you approve all invoices for payment and sign all checks, ensuring proper segregation of duties over the cash function. You are also responsible for depositing all checks and cash received.

Won’t I lose control if the bookkeeping is done by an outside service?

On the contrary, you’ll have perhaps MORE control than ever before! Many business owners are possibly out of control right now because they have inaccurate or incomplete accounting data or are experiencing a turnover of their bookkeeper or accountant. With Daily Balance, you’ll be able to view your accounting information at any time on any day of the week. And, you’ll ALWAYS be in control of your cash; you write, sign, and mail your checks, and you make your deposits.

How will I get access to my accounting data?

At any time, from any Internet accessible computer, you can use your login and password to access your accounting records. They are always up to date (within 24 hours of each transaction scanning). This is the same procedure and technology your bank, medical records and the IRS use to access and process information. It is secure and dependable, with a 100% back-up running in real time. And, YOU, the business owner, authorize access to this data. You are always in control as to who else is allowed access to your information; you control all the log-ins and passwords for access to your data.

What About Security?

Right now if you are like most of us, your accounting records are in an unlocked file cabinet, your backup tape is somewhere in the office, and a lot of important papers are sitting on someone’s desk. You may already have “bad” security.

What kind of Internet security?

For transacting across the Internet, Daily Balance uses the same level of encryption that major banks (such as CitiBank and Wells Fargo) use. You can be assured that you and only you can access your most important data.

Security measures are taken to make sure that your information is protected. Each company’s data is password-protected. As your data travels over the Internet, it is protected by a technology called Secure Sockets Layer or SSL encryption. SSL ensures that your data makes it your location before it can be decoded. For added security, your company needs to use an Internet browser that supports 128-bit encryption. This level of encryption is the highest currently supported by consumer web browsers. Be sure you are also using the latest version of your web browser, as enhancements have probably been made since you last upgraded.

Can other people access my data?

No one can have access to your data without your express permission. Daily Balance goes to great lengths when it comes to our security measures. We have greater security than many companies would have if the software and hardware were located in-house. Your data is backed up on a real time basis to an off-site backup facility. Also, the facility’s power supply is hooked up to backup generators to protect against power failures. If you think about it, how many of us with computers in our offices have this type of system and security?

What software can I use?

Daily Balance works with QuickBooks desktop and online software packages as well as Xero. We are QuickBooks Pro Advisors and Xero partners; experts users. Should you be interested, however, in staying with your current software we would certainly be willing to discuss your situation with you. The decision is usually based on your type of business and the adequacy of QuickBooks/Xero  in meeting the needs of your business. Software is merely a tool we use to provide the financial information critical in running your business.

How can I get my quick questions answered?

Daily Balance works as a team. When you become a client you are assigned a bookkeeper and a CPA manager. Our admin staff is also available during business hours. The answer to your question is just a click away. As part of setting up your company on our system you will be connected via Instant Messaging directly with the bookkeeper and CPA manager.

How can I be ensured that you will keep the importance of my company at a high level?

The professionals assigned to your company are only assigned a limited number of clients. Our mission is to change the way business does it’s bookkeeping. We must, therefore, provide the highest level of customer service possible. Great customer service means being available, responsive, and always looking for ways of solving your problems before they occur. Please read our Mission Statement.

My company already has a CPA. Why would we want or need another one?

Although Daily Balance is a licensed CPA firm in the state of California we are professional bookkeeping service. We will work with your CPA and will provide a clean set of books ready for tax preparation or audit. We are not in business of replacing your outside CPA. Our service replaces your bookkeeping and/or accounting department. As a result you will find the value of your CPA going up since you are able to spend your time on more important matters.