Bookkeeping
Running a painting business is not only providing a great quality service to your customers, but also requires you to be diligent with your bookkeeping to make sure that it’s running the way it’s supposed, avoiding any problems in the future.
Keeping track of every payment, purchase, payroll, and any other transactions is a time-consuming process, and it can make you work many hours of overtime just to keep your books organized. Sometimes, these bookkeeping tasks can make you move away from the actual work that you want to provide your customers, which can make your business suffer.
That’s why Bookkeeping for Painters is here! We offer professional and comprehensive bookkeeping services for painters to alleviate the burden of trying to wear too many hats when you are trying to run your painting business. We believe that, while owning a painting business requires you to be good at your craft, delegating tasks for your employees, and all the administrative work that goes with it, you don’t have to do this on your own. When you hire our team of experts to help you with your bookkeeping needs, you receive more than a team willing to help you with your administrative tasks — you’ll find an ally for your painting business in us!
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Bookkeeping Service Plans
Bookkeeping can be a stressful task and it usually takes a lot of time to do right. A painting business is constantly purchasing supplies and equipment which rotates often out of your inventory. This means that you need to be on top of your bookkeeping to avoid the recipes and other paperwork from piling up, ultimately forcing you to spend days inputting the data onto your books.
The main thing that you should be concentrating on when you are running a painting business is the services and quality you are able to provide to your clients, and we want you to provide that better service — leave the tedious bookkeeping work to us!
Here are some plans that we offer that can take some weight off your shoulders so you can continue to grow your business and providing excellent service:
Primer PLUS
Monthly bookkeeping & reconciliation
- Monthly Financial Video Review
Email support
Receipt management system subscription
Our Primer PLUS Bookkeeping Plan is perfect for start-ups and smaller painting businesses looking to start off on the right foot. With a monthly bookkeeping cycle and emails to ask any questions, you may have, we can provide you with audit-proof books to keep you on track for tax season.
Satin
*Our Most Popular Plan*
Monthly bookkeeping & reconciliation
- Monthly Financial Video Review
- Monthly QBO Reports
- Email, text, and phone support
Monthly Financial Mastermind Group
Receipt management system subscription
Our Satin Bookkeeping Plan is perfect for the painting business owner that wants to take their business to the next level. With unlimited calls, emails, and texts to your dedicated account manager, as well as a monthly financial review meeting, we can provide you with tailored advice and guidance to help you increase your profit and grow your business.
High Gloss
Weekly bookkeeping & reconciliation (if applicable)
- Weekly Snapshot
- Weekly & Monthly QBO Reports
Unlimited Email, text, and phone support
- Bookkeeper BatPhone Rapid Response
Dedicated Account Manager
- Monthly Financial Review Meeting
Receipt management system subscription
Our High-Gloss plan is for the painting business owner that wants to run a painting empire. With a weekly bookkeeping cycle, you are eligible for weekly job profitability reports*, so knowing the financial position of your business has never been easier.
*Job Costing add-on is an additional fee.
Interested in our bookkeeping plans?
Importance of Bookkeeping
Like we’ve mentioned before, bookkeeping is an important part of your business and it can help you grow your business and organize yourself by making sure that all your transactions are accounted for and easy to search.
Let’s dig in more about some of the reasons why bookkeeping is so important:
Budgeting
Budgeting can be one of those aspects of your business that can define the success of your operation. Knowing where all your money is going and which payments and transactions are recurring and necessary can help you define what to cut down in times that you need or can even tell you if you have a leak of capital due to spending the money in the wrong places.
Planning
Planning goes hand in hand with budgeting. When you have the right information about your painting business, you can budget your monthly expenses better. Once you get budgeting down, you can start planning ahead in case you want to grow your business or are in need of some improvements.
Track Profit & Growth
Being able to track how much money you are making in profits is extremely important because it ultimately determines if your business is being successful. In the business world, a company or enterprise that’s not growing and it’s stagnant can be considered a dying business.
Tax Preparation
Having organized books with everything that goes on in your business can immensely help you at the time of filing taxes. Not needing to look into dozens of different folders, documents, and boxes of papers every time you have to do taxes can be a great relief!
Business Analysis
A thorough and organized book filing can help you analyze your business. The books will show you where your inflows and outflows (profit and loss) are coming from or going to. It can be a helpful tool when you are looking to move forward with a new project or expand your operations.
Investors
Whether you are looking to expand your operations to cover multiple locations or you are planning on franchising your painting business, having organized bookkeeping and everything accounted for in your books can make it easier for potential investors to decide if they want to invest in your business.
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IRS Audits
While IRS audits are not common, they can happen when you least expect them. Keeping your books organized and in good standings make audits easier, not only for you, but for the entity performing the audit. Also, the faster the IRS is done with your audit the faster you can stop stressing about it.
Required by Law
Keeping organized documentation and records of your business is required by law. Not being able to provide these records to the pertinent authorities like the IRS, can result in fines and/or termination of your business.
Don’t overstress putting countless hours into your bookkeeping when you could be spending that time growing your business and providing great services to your customers. At Bookkeeping for Painters, we have the experience your business needs and our team strives to provide the administrative services you require.
Contact us today to receive a free consultation or if you have any questions. Our team will be happy to assist you in any way we can!
Tax Preparation Services
Whether you are an individual that works a personal painting business or you own a large business with multiple employees, Bookkeeping for Painters is here to help you with your taxes.
If you are in need of tax preparation or planning, our team of experienced accountants and tax specialists are here to provide the services your business needs! Learn more about our tax services by clicking the button below.
Basic Tips for Efficient Bookkeeping
If you are starting your own painting business, there are some general tips that can help you start efficiently. Even if you are already running a business, these tips can help you put extra organization into your finances and other aspects of your company.
Business Accounts
Whenever you are starting a business, it is important to create a separate account for it. This will not only help you put all the business expenses into one single account, but it can also help you not spend your personal money if your business and personal finances are intertwined.
Tax Budget
Making sure that you have the funds to pay for taxes, whether you are doing it quarterly or yearly, is a really smart plan. This will help you not get caught by surprise when you need to pay taxes and you don’t have the money to cover them.
Organization
While running your painting business, try to keep all your expenses organized. For example; when buying supplies like brushes, rags, and other items that you’re not buying often, you can keep those items under non-recurring purchases. On the other hand, whenever you buy paints, tape rolls, and other construction materials that you use often, you can keep these under recurring expenses. This way, organizing your books in such a way that you can easily go in and inspect how much you spent on certain items.
Track and Maintain
Track every transaction that happens in your business, no matter how small or how unimportant you think it may be. Also, by maintaining this practice, you can potentially take less time each day working on your bookkeeping and focusing on your business and services.
Deadlines
Be aware of tax and other business-oriented deadlines so you can plan accordingly. Do not let any of these important dates catch you by surprise, that way you can continue running your business without any major hiccups.
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What To Expect From Our Services
Years of Experience
A Team Committed to Your Success
Experts That Know Your Field
Quality Services
Hire Bookkeeping Experts for Your Painting Business
While bookkeeping can be a task that anyone can do, more often than not, it takes away time from business owners to provide the service they offer. Your painting business can benefit from you spending your time to grow it and improve the services you provide instead of using a lot of your time to solve administrative tasks — this is where Bookkeeping for Painters comes in!
Our services not only give you the peace of mind of having professionals with the necessary experience to have your books organized and done the right way, but it also lifts the weight off your shoulders so you can focus on what really matters in the end, growing and expanding your business while providing great painting services!
Contact our team today to learn more about our bookkeeping services, if you have any questions, or if you wish to start a free consultation. We will be more than happy to assist you with anything you need and we are looking forward to working with you!