UptoDate Bookkeeping & Payroll - MN Accounting Services

Category: Bookkeeping service

Address: 9360 Baltimore St NE, Minneapolis, MN 55449, USA

Phone: +16514660130

Opening hours

Sunday: Closed

Monday: 8AM–5PM

Tuesday: 8AM–5PM

Wednesday: 8AM–5PM

Thursday: 8AM–5PM

Friday: 8AM–4PM

Saturday: Closed

Reviews

Alex Bly

Aug 9, 2022

Could not recommend UptoDate more. Incredibly competent and effective. They have made Bookkeeping an afterthought for us after a few years of it being a massive stressor. If you want to focus your energy on the day-to-day of your business opposed to doing books yourself or taking a risk on a different bookkeeper, then this is the firm for you. Every decision we make is now informed by reliable numbers and those numbers are produced with minimal efforts by us.

iMowediT Email

Aug 9, 2022

UptoDate helped us get out of an absolute nightmare of a situation with our previous bookkeeper. In about 2 weeks, they were able to redo our entire 2021 books and develop a system to ensure that our 2022 year end will be a breeze. Brian, specifically, has been an invaluable resource. We are thrilled to have found UptoDate and could not recommend them higher.

John MacKenzie

Dec 17, 2020

Always prompt, always courteous, always correct!

Jeff Mork

Aug 10, 2020

UptoDate Bookkeeping in Blaine has been a huge asset for my business. Their custom bookkeeping services have saved me a ton of time and have allowed me to spend more time finding new clients. I definitely recommend their services!

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Questions & Answers

Do you offer a consultation?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Yes, just click on the Schedule a consultation today button on our site and pick your appointment time.

I am having trouble learning QuickBooks? Can you provide training?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

We are a QuickBooks Pro Advisor, which means you get expert advice and we customize our services to your needs.

Do you take the place of my CPA or Tax Preparer?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

We do not prepare taxes. We work with your CPA or tax preparer to complete your team. As a cloud bookkeeping service, we encourage CPAs to give proactive advice to their clients, and we can give them access to your data to do so!

Will I lose touch with my business if I outsource my bookkeeping?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Quite the opposite! Instead of having to manage and enter information into your books, you will be able to focus more time analyzing them and managing the operations and sales of your business. Having an outsourced bookkeeping service is like having a trusted adviser make sure your books run accordingly while you concentrate on what you do best, running your business.

I often hear the words bookkeeper, accountant, and controller used interchangeably. What’s the difference?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Accountants record and classify financial transactions while the controller sets up and maintains the accounting system. A bookkeeper records and categorizes financial transactions, while accountants analyze, review, and report on that information.

How should employees be classified?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Did you hire an employee or an independent contractor? Get the decision wrong and you might get stiff fines from the IRS.

How long should I keep my receipts for my business?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

The reason is clear. If you lose your receipts, you won't be able to prove your deductions on your tax return or you may even be fined. Keep receipts for at least seven years.

What is the difference between cash and accrual accounting methods?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Income and expenses are recorded differently in cash and accrual methods of accounting. A cash accounting method records income and expenses as soon as they are received or distributed. On the other hand, a accrual accounting method records income and expenses when they are incurred, not when they are actually paid or collected.

What is the difference between current and fixed assets?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Current Assets are assets that are expected to be gone or sold within a year, but Fixed Assets are long-term assets that are not expected to go anywhere in the near future.

What is accounts payable?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

“Accounts Payable” is what you owe other companies as a result of purchasing goods or services from them.

What is accounts receivable?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

“Accounts Receivable” refers to money owed by your company to customers. Usually, the customer paid on credit for the goods or services.

Do bookkeepers do payroll?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

Yes, we can do your company payroll or union payroll.

Why should I hire a professional bookkeeper?

UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021
UptoDate Bookkeeping & Payroll - MN Accounting Services | Oct 30, 2021

A bookkeeper may prove useful for a number of reasons, three of which include: They save you a lot of time. They help you manage your business finances. It can take a lot of pressure off of managing things like cash flow. Having a bookkeeper on your team can also offer support to business owners who feel like they’re working alone.

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