Bookkeeping Services

Local CPA for Accounting & Bookkeeping Services in Phoenix, AZ

As a business owner, you have many demands on your time. It’s usually employees who opine about the importance of maintaining a “healthy” work-life balance that’s conducive to a fulfilling lifestyle. Business owners aren’t usually included in the conversation because they’re presumably busy working.

Bookkeeping is one of those time-consuming tasks you likely don’t have time to tackle during normal business hours. Many small business owners try to wade through the invoices, income statements, vendor contracts and receipts necessary to stay on top of bookkeeping during their off hours. 

Handling your own bookkeeping isn’t just a drag that may cut into your work and personal time – it can also be hazardous to the health of your business. 

Most SMB owners aren’t accountants. DIY bookkeeping may work if you have a simple business, a passing familiarity with QuickBooks and a basic understanding of accounting fundamentals, but mistakes can (and will) happen. 

Working with an experienced accounting firm like H&H Accounting Services to have your bookkeeping handled by professional Phoenix accountants is often the best solution. Our detail-oriented experts have extensive bookkeeping experience. We can ensure your books are accurate and free up your time to focus on the things that matter, like running your business or unwinding during your off hours. 

What Does a Bookkeeper Do? 

At the most basic level, bookkeepers reconcile bank accounts and enter data. This means recording every financial transaction to “balance” the books. The books then need to be cross referenced against bank statements, receipts, orders, contracts, invoices and other relevant payment or income tracking records for your business. Bookkeepers like those employed by H&H Accounting Services will also: 

  • Organize your business transactions 
  • Prepares financial statements 
  • Monitor business health 
  • Provide monthly financial reporting 
  • Provide all necessary information for business taxes


Our experienced bookkeeping professionals provide fast, timely and accurate services. We always deliver tax-ready financial statements to ensure our clients are never caught flatfooted when it comes time to file their business taxes. 


Many of our bookkeeping clients also rely on our CPA to complete their business taxes, which greatly simplifies their accounting needs and ensures smooth, on-time submissions and maximized returns. 


What to Expect When You Start Working With a Phoenix Bookkeeper

Hiring a professional bookkeeper can make running your business easier, but it does not mean you can hand off every financial detail and disappear from the process. A bookkeeper can organize your records, categorize transactions, reconcile accounts and help keep your financial information current, but accuracy still depends on having the right systems, documents and communication in place.

  • Reviewing Your Current Bookkeeping

    The first step when starting with a bookkeeper is usually a review of your current financial records and bookkeeping systems. This helps identify the overall condition of the books, determine what records may be missing and evaluate whether cleanup work or catch-up bookkeeping is needed.


    During this review process, a bookkeeper may assess:

    • Existing QuickBooks files
    • Bank account records
    • Credit card transactions
    • Payroll reports
    • Point-of-sale systems
    • Expense tracking methods
    • Prior financial reports
    • Outstanding reconciliations

    Some businesses already maintain reasonably organized records, while others may have months of uncategorized transactions or incomplete reconciliations that need attention before ongoing bookkeeping can begin.

  • Access to Financial Systems and Records

    To properly manage bookkeeping, businesses typically provide secure access to the financial systems used in daily operations. This allows the bookkeeper to review transactions, reconcile accounts and maintain accurate reporting moving forward.


    The onboarding process may also involve coordinating with a prior accountant or bookkeeper if records are being transferred from another provider.


    For businesses switching accounting professionals, this transition period can help identify inconsistencies, duplicated entries, outdated records or missing financial information that needs correction.

  • Identifying Missing or Disorganized Records

    One of the most common issues businesses face is incomplete or disorganized financial records. Missing transactions, uncategorized expenses and unreconciled accounts can create reporting problems that eventually affect taxes, cash flow tracking and financial visibility.


    A professional bookkeeper helps identify:

    • Missing bank statements
    • Duplicate transactions
    • Uncategorized expenses
    • Unreconciled accounts
    • Incomplete payroll records
    • Incorrect account classifications
    • Outstanding liabilities

  • Catch-Up Bookkeeping and QuickBooks Cleanup

    Many Phoenix businesses seek bookkeeping services because they have fallen behind on monthly bookkeeping responsibilities. 


    Catch-up bookkeeping focuses on bringing financial records current so reporting and tax preparation can move forward accurately.


    This process may involve:

    • Cleaning up QuickBooks files
    • Categorizing uncategorized transactions
    • Reconciling bank and credit card accounts
    • Reviewing prior entries for errors
    • Organizing missing records
    • Updating overdue financial reports

    QuickBooks cleanup is important when financial reports no longer match actual bank balances or when prior bookkeeping inconsistencies create confusion.


    It’s often a good idea to address overdue bookkeeping before:

    • Filing taxes
    • Applying for financing
    • Seeking investors
    • Preparing year-end reports
    • Expanding operations

    Accurate cleanup work creates a stronger financial foundation moving forward.

  • Establishing a Monthly Reporting Schedule

    Once the books are organized and current, the next step is typically establishing an ongoing monthly bookkeeping workflow. 


    Consistent reporting helps businesses maintain financial visibility and reduce the risk of falling behind again.


    A monthly bookkeeping process may include:

    • Bank reconciliations
    • Credit card reconciliations
    • Transaction categorization
    • Expense review
    • Payroll tracking
    • Financial statement preparation
    • Accounts payable and receivable review

    Establishing a reporting schedule also helps business owners know when to expect updated financial reports each month.

  • Monthly Financial Reporting for Phoenix Businesses

    Monthly financial reporting is one of the most valuable aspects of professional bookkeeping. Organized financial statements help business owners better understand profitability, expenses, cash flow and operational performance.


    Monthly reporting often includes:

    • Profit and loss statements
    • Balance sheets
    • Cash flow reports
    • Expense summaries
    • Account reconciliations

    These reports help identify:

    • Spending trends
    • Cash flow concerns
    • Revenue fluctuations
    • Outstanding liabilities
    • Reporting discrepancies

    Regular bookkeeping also improves tax preparation by ensuring financial records remain organized throughout the year instead of requiring major cleanup work during tax season.

  • Preparing Tax-Ready Financial Records

    One of the biggest benefits of professional bookkeeping is maintaining tax-ready records year-round. “Tax-ready bookkeeping” generally means:

    • Transactions are categorized correctly
    • Accounts are reconciled
    • Financial reports are current
    • Expenses are documented properly
    • Payroll records are organized
    • Supporting records are accessible

    When bookkeeping is maintained consistently, tax preparation becomes far more accurate and less stressful and time consuming.


    Businesses also reduce the likelihood of missing deductions, overlooking reporting issues or scrambling for documentation at year-end.

Is Your Business GAAP Ready? 

GAAP (generally accepted accounting principles) readiness is important for many businesses, especially those who are undergoing an internal audit or being subjected to an IRS audit. Any business that releases public financial statements must adhere to GAAP principals, which is why businesses that are aiming to attract private investors or believe they may one day take the plunge and go public should adopt GAAP standards as soon as possible. 

Our bookkeeping team can help you adopt and adhere to GAAP standards. Even if you aren’t releasing public financial statements, GAAP can still help ensure optimal accountability and transparency in your business financials.

Why Should You Use the Same Accountants for Bookkeeping and Tax Preparation? 

If you outsource your bookkeeping to an accountant (like most successful SMBs do), your bookkeeper should have an intimate familiarity with your business. They will understand where your revenue comes from, what your expenses are and your business’s strengths and challenges. The accounting pro who is up to their elbows in your business’s finances on a monthly basis is also the accountant who is best positioned to maximize your tax credits and deductions. 


Working with a Phoenix bookkeeper who is also renowned for accurate business tax preparation is often ideal. At H&H Accounting Services, we can handle both your regular bookkeeping and your annual business tax preparation. 


Frequently Asked Questions About Bookkeeping

  • What documents do I need to provide to a bookkeeper?

    Most businesses provide access to bank accounts, credit card statements, QuickBooks files, payroll systems, invoices, receipts and financial records needed for reconciliations and reporting.

  • How often should bookkeeping be updated?

    Many businesses update bookkeeping monthly, although some high-volume businesses may require weekly or more frequent updates.

  • What financial reports should a small business review each month?

    Most businesses benefit from reviewing profit and loss statements, balance sheets and cash flow reports regularly.

  • What does “tax-ready bookkeeping” mean?

    Tax-ready bookkeeping means financial records are organized, reconciled, categorized properly and prepared for efficient tax filing.

  • Can a bookkeeper help clean up overdue records?

    Yes. Catch-up bookkeeping and QuickBooks cleanup are common services for businesses with incomplete or disorganized financial records.

  • Do you work with platforms other than QuickBooks?

    H&H Accounting Services primarily supports businesses using QuickBooks, including QuickBooks setup, cleanup and ongoing bookkeeping. If your records are currently managed in another platform, our team can review your situation and help determine the best path forward.

  • How long does bookkeeping onboarding usually take?

    Bookkeeping onboarding depends on how organized the existing records are, how many accounts need to be connected, how quickly bank and credit card access can be provided and whether prior months need cleanup or catch-up work. Businesses with current, well-organized books may move through onboarding more quickly, while businesses with missing statements, uncategorized transactions, payroll issues or multiple entities may need more time upfront.

  • What’s the difference between bookkeeping and accounting?

    Bookkeeping focuses on recording and organizing financial transactions, while accounting generally involves higher-level financial analysis, tax planning and reporting.

  • Can bookkeeping help identify cash flow problems?

    Yes. Accurate financial reporting can help businesses identify spending patterns, receivable delays and cash flow concerns earlier.

  • Should bookkeeping and tax preparation be handled by the same CPA firm?

    Many businesses prefer working with one firm for both bookkeeping and tax preparation because it improves consistency and communication between financial records and tax filings.

Outsource Your Bookkeeping to the Phoenix Accounting Pros 

What is your time worth? If you’re a small business owner, you can probably do the math and figure it out. For most SMB owners in Phoenix, it makes more financial sense to outsource their bookkeeping to experts like H&H Accounting Services so the focus can be on cashflow management. In addition to saving you time, we’ll also do the job properly, allowing you to avoid the headaches and costs associated with bookkeeping mistakes. 


Learn more about how working with H&H Accounting Services can save your business time and money by calling us at 

(480) 561-5805 and scheduling a one-hour consultation.