SourceUP FAQs

Taking the leap to hire outside help is a large one as you grow and identify the need for more help. We offer several options for service levels depending on what you are looking for in your business. We provide a dual level service structure that 1.) provides both frequent and comprehensive transactional (bookkeeping) support and 2.) provides strategic business planning that takes financial data and gives insights and direction on how to most effectively manage the future of your business and achieve your goals. The strategic level is the point of difference with SourceUP. This will include deep dive analysis into the components of your business as well as budgeting/forecasting. We only will provide that strategic level if you are a transactional client as well. We must be able to validate the bookkeeping work that is completed.  

We provide different levels of service depending on your needs and complexity of your business. Each client has a customized plan for service fees.  

As a business we take learning and curiosity very seriously! We are always learning and take the notion that we are not experts in all parts of your business too. We are also going to be learning along the way from you. We want to be able to provide you with the information and explanations that you need to be able to make decisions and meet your goals. We know talking about financial data makes everyone feel a bit vulnerable and we take that privilege to help you very sincerely. We hope that you will communicate with us when you need more information, and we will do the same when we need you to teach us!

We always want to use what you currently have in place first to make sure we don’t have to re-create the wheel. If you are using software for your business that is currently working effectively, then we do not have to create something new. We use Quickbooks® Online and can also get you set up on this system if that is the right decision for your business. We study and review the relationship between your business and your accounting system to ensure you have the appropriate level of detail for easy reporting and decision making. This is usually part of the project fee when we get started along with other fees to get the business transitioned to SourceUP. 

SourceUP provides two levels of service; transactional and strategic while most CPA or accounting firms only focus on transactional services (bookkeeping) and tax. Given the broad, multi-discipline experience from our team, we understand the challenges and twists and turns of owning and running a business. We live it every day for ourselves and our clients! We will learn your business and understand your challenges so we can provide effective solutions. SourceUP is going to ask and make sure you are thinking about solutions comprehensively and cohesively.

SourceUP is focused on providing transactional services (bookkeeping) and CFO services to companies that are in a position for growth or needing more financial support. We focus our attention on customer service and relationships. We will ask you questions … sometimes ones that are hard to answer or ones you may like to avoid… with the intent to get you to the goals you have envisioned. We are looking for firms that are open and transparent about financial decisions and that are flexible to new ways of doing things to help achieve your short/long term goals. We will spend the first part of our time getting to know each other and YOUR goals so that we can find solutions that fit your business.

We are always researching new ways of integrating systems and apps so that we can best support our clients. Apps are ever changing, and we try to recommend solutions that fit your business now and the growth you have planned. No one likes multiple system changes as the business grows. We also stay current on situations (tax, retirement, etc.) that affect the states that our businesses operate in regularly.

Each situation and client for SourceUP is unique and so is your business. We build our SetUP phase and retainer based on the number of hours we expect to dedicate to your business.

We frequently get asked questions about managing the books and knowing when to make decisions as your company grows (When should I hire an employee? When do I get office space? Should I engage in a new platform?). We want to make sure you are set up for success not only for the business but for yourself. We are going to help by asking the questions that you wish you knew before! We want to be able to provide comprehensive and cohesive solutions that also allows for the growth you are anticipating.

We partner with lots of different firms to be able to provide solutions for your business such as legal, CPA, and retirement.

SourceUP strives to provide a customized approach to each client we work with depending on the clients’ goals and situation. We will utilize meeting in person, virtually, and by phone to help ensure we are communicating effectively and efficiently for the specific client. In some cases, that is weekly and others monthly. SourceUP wants to understand the operations of your business. We will want to get to know the components that make up your business so we can provide the best possible advice on scaling and growing. 

We will review your financial statement package including a review of your P&L and Balance Sheet at a minimum each month. Depending on the complexity of the business and your goals, we will manage this meeting either in person or data will be sent to you with notes for your easy review and action. Additionally, we will ensure that you have access to your financial statements on your own so you can view these at any time. We want to empower you to feel more confident in your financial competency. 

Absolutely! We LOVE collaborating with your whole team. We are “people people” and love to genuinely know your team, clients, and vendors. This helps us immensely to understand your needs and how you do business. In some cases with our clients, we have our own email address with your company’s domain that will allow us to have a seamless role in your business. This is especially helpful if we will take over invoicing and collecting bill payments. This practice allows us to have that straight line of communication, so we can contact clients and vendors on your company’s behalf. 

We want all customers to have a budget, depending on the time period, annually for a forecast to finish the year and then create an annual budget for the following calendar year. We believe that budgeting is one of the best ways to empower you to make decisions. This will inform your sales goals, hiring plans, overhead, and timing of decisions. We believe budgets/forecasts are living documents that will change as your business does too but it will inform the future and provide clarity on how to move forward. We will use your current sets of books (once it has been validated) including your P&L and Balance Sheet. With these tools, we will discuss at length your goals for the business and your growth/maintenance plan. This will allow us to create a budget with your approval. We will use our strategic expertise to guide you through the process.

Depending on the relationship and work to be completed, we will need access to your accounting systems (Quickbooks® or otherwise). Additionally, once we determine the scope of work, we may need access to business bank accounts and retirement portals.

Yes! We take your financial data privacy and plans very seriously. We will ask as part of our Master Services Agreement (MSA) for our shared confidentiality. We always agree not to share any of your data, and we also ask that you do not share what we provide to you. We will provide budgeting tools/templates as well as advice for different points of your business growth and we ask that you keep those tools confidential.