Financial Reporting
Good reporting tells you why, and what to do next.
Financial Reporting & Accrual Accounting
Accurate books tell you what happened. Good reporting tells you why, and what to do next. As your business grows, generic reports stop answering the questions you actually have. BBK Accounting restructures your books and reporting around how your business really runs, so the numbers you get each month are useful for decisions, not just for taxes.
How we help
Reporting built to match your business: a chart of accounts and reports organized around how you actually operate
Connected financial data: payroll, point-of-sale, and other systems brought together in one set of reports
Budgets and performance analysis: budgets, margins, and monthly variance reviews that explain what changed
Accrual and GAAP-ready financials: reports that show when revenue is earned and costs are incurred, not just when cash moves
Reporting built to match your business
A chart of accounts that made sense when you started rarely fits the business you have today. We restructure it to reflect your real operations, so your reports group revenue and costs the way you think about them.
- A chart of accounts cleaned up and reorganized around how you operate
- Reporting by entity, department, location, service line, or job
- Class, location, and job-cost tracking for industries like construction, real estate, and nonprofits
- Historical reporting rebuilt so past periods compare cleanly with today
Connected financial data
Your financial picture is often spread across payroll, point-of-sale, banking, and spreadsheets. We bring that data together into one connected set of reports.
- Payroll integrated with your books for true labor-cost analysis
- Point-of-sale, practice management, and other system data flowing into your reporting
- Fewer manual exports and copy-and-paste reports
Budgets and performance analysis
Numbers are most useful when they explain what changed and why.
- Budgets built with you and aligned to your chart of accounts
- Budget-vs-actual reporting
- Margin analysis by service, product, or customer
- Variance and flux analysis that flags what moved, with plain-language explanations
Accrual and GAAP-ready financials
Your bank statement shows when money moved. It doesn't always show how your business actually performed. A large annual software payment, a client who prepays for a year of service, or a month of work you haven't billed yet can make cash-basis reports badly misleading. Accrual accounting records revenue when you earn it and expenses when you incur them, so your reports reflect what's really happening.
The right level for your business
Switching to accrual is more than a report setting in QuickBooks. It depends on processes: when invoices and bills are entered, how prepayments are handled, and how balances are tracked month to month. We help you choose how far to go, then build those processes:
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Accrual basics: customer invoices and vendor bills recorded when revenue is earned and expenses are incurred
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Prepayments: customer deposits and prepayments handled so cash received early doesn't distort your revenue
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Full accrual: deferred revenue, prepaid expenses, and accrued liabilities maintained every month
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GAAP-ready: books kept to the standard auditors, lenders, and buyers expect
Many businesses don't need full GAAP. It matters when someone outside the business relies on your numbers, such as an auditor, a lender, or a buyer. We prepare your books for that scrutiny. The audit itself is done by an independent CPA firm that you hire, and we work alongside them.
Reporting that speaks your industry's language
The right reports depend on how your industry makes money. A few examples of what we build:
Law firms:
profitability by practice area, attorney, or matter type, plus unbilled time and work in progress
Nonprofits:
reporting by program and grant, expenses allocated by function, and restricted funds tracked so your books are ready for an audit by an independent CPA firm
Construction:
job costing, with revenue matched to the work completed on each job
SaaS:
recurring revenue and customer metrics, with annual contracts recognized over the service period
E-commerce:
margins by channel and product after fees and returns, with cost of goods sold recorded when products sell
Real estate:
income, expenses, and returns by property, with prepaid rent and deposits in the right period
Restaurants and hospitality:
results by location, with labor and food costs as a share of sales
How it works
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Spot the need. Often your bookkeeper notices first: reports you keep asking for that don't exist, decisions the current numbers can't answer, or data living outside your books.
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Scope it. We define what the project will deliver and estimate the time it will take.
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Get a quote. You approve the scope and price before any work begins.
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Build it into your books. We complete the project, and the improved structure carries into your monthly bookkeeping from then on.
Every service on this page works the same way: a one-time project sets it up, and your monthly bookkeeping keeps it current. That might mean coding transactions to your classes, departments, or jobs, keeping connected data flowing, reviewing budget vs. actual, or maintaining accrual balances.
Pricing
Every service on this page comes in two parts: a one-time project to set it up, and monthly upkeep added to your bookkeeping package. Schedule a call for a quote.
| Part | What it covers | Pricing |
|---|---|---|
| One-time setup | Chart of accounts restructuring; class, department, location, or job tracking; connected data; budgets; accrual or GAAP-ready setup | $150 per hour, scoped and quoted before work begins |
| Monthly upkeep | Transactions coded to your classes, departments, and jobs; connected data kept flowing; budget-vs-actual and variance reviews with a monthly meeting; accrual balances maintained | From $200 per month, added to your bookkeeping package |
Your monthly price depends on which pieces you use, and accrual-basis books also move your bookkeeping to a package sized for accrual.
Frequently asked questions
How is this different from regular bookkeeping?
Bookkeeping keeps your records accurate and current. These projects improve how your books are structured and reported, so the numbers are more useful for decisions.
How much does it cost?
It depends on what you set up. One-time setup starts at $150 per hour, and monthly upkeep starts at $200 per month as part of your bookkeeping package. We'll quote it after a short call.
Will I have to pay for this every month?
Setup is a one-time project. The monthly upkeep keeps your new structure accurate and is added to your bookkeeping package, scaled to what you've set up.
Can you rebuild past periods so I can compare years?
Yes. We can rebuild historical reporting so earlier periods line up with your new structure.
Can you combine data from payroll, point-of-sale, and other systems?
Yes. We bring data from your other systems into one connected set of reports, including payroll for labor-cost analysis.
Can't I just switch my QuickBooks reports to accrual?
The setting changes how reports are displayed, not whether the underlying records are right. Accurate accrual reporting depends on when invoices and bills are entered, how prepayments are recorded, and whether balances like deferred revenue are maintained.
What's the difference between accrual and GAAP?
Accrual is a method of recording revenue and expenses when they're earned and incurred. GAAP is the fuller set of standards that auditors, lenders, and investors expect. Many businesses benefit from accrual reporting without needing full GAAP compliance.
Do I need accrual accounting?
If your revenue or expenses often land in a different month from when the work happens, such as prepaid contracts, annual subscriptions, or large unbilled projects, cash-basis reports can mislead you. We can help you decide.
Do you perform audits?
No. We prepare your books to be audit-ready. Audits and reviews are done by an independent CPA firm that you hire, and we work alongside them.
Still have questions about financial reporting?
We'll talk through the reports you need and whether accrual or GAAP-ready books fit your business.
Get reports that answer your questions
Tell us what you wish your numbers could show you, or how your business earns revenue and pays its costs, and we'll scope what it takes.