Annual Bookkeeping

Bookkeeping (Completed Annually for the Prior Year)

In the Starter program, all bookkeeping work is performed once per year for the prior calendar year’s activity. This service is designed for businesses that do not require ongoing monthly bookkeeping but still need accurate, professional financial records for compliance and tax preparation.

ABBL completes the full bookkeeping process after the year has ended, with final financials typically delivered by the end of the second month following year-end (generally by the end of February), provided all required information has been received on time.

What This Feature Includes

• Importing and reviewing all bank feed transactions for the year

• Posting and categorizing all transactions into QuickBooks Online

• Matching transactions to available source documents (receipts, bills, statements)

• Identifying and flagging unclear or missing information

• Preparing the books for final reconciliation and reporting

All work is completed in a single annual cycle for the prior year’s activity, rather than on a monthly basis.

How the Process Works

1. Year-End Work Begins

   After the close of the calendar year, ABBL begins processing your full year of transactions.

   
   

2. Transaction Posting & Categorization

   All transactions from connected accounts and provided documentation are reviewed and recorded in QuickBooks.

   
   

3. #Clarify (Client Questions)

   Any transactions that are unclear, missing context, or lacking documentation are flagged in the client portal under the #Clarify section for your review.

   
   

4. Uncategorized Transactions Handling

   To ensure timely completion, any transactions that remain unresolved are recorded as Uncategorized and included in your financial reports.

   
   

5. Completion Timeline

   Books are finalized by the end of the second month following year-end, assuming timely document submission and responses.

   
   

Client Responsibilities

To ensure accurate and timely completion, clients are responsible for:

• Providing access to bank, credit card, and loan account statements

  or uploading statements to the portal

• Uploading receipts and supporting documentation via HubDoc or the client portal

• Responding to #Clarify requests within a reasonable timeframe

• Reviewing and approving final financials once delivered

Failure to provide required documentation or respond to requests may result in:

• Increased Uncategorized transactions

• Delays in completion

• Additional fees or change orders if rework is required

Service Scope Guidelines (Important)

This service is designed for businesses with low transaction volume, generally:

• 120 transactions per year or fewer (average of 10 per month)

This is a capacity guideline, not a strict cutoff. However:

• Consistently exceeding this volume may result in:

  • Additional fees (change orders), or

  • Recommendation to upgrade to a higher-tier program better suited for your activity level

What Is Not Included

• Monthly or ongoing bookkeeping updates

• Real-time financial reporting during the year

• Ongoing transaction monitoring or account management

• Chasing missing receipts or documentation

• Delaying completion while waiting on client responses

Starter is a year-end compliance service, not a real-time bookkeeping solution.

Additional Notes

• ABBL may perform limited administrative activity during the year (such as posting document requests or portal reminders), but bookkeeping work itself is completed annually

• Late submission of documents after work has begun or been completed may require:

  • Reopening the books

  • Additional cleanup

  • Change order billing

Why This Feature Matters

This service ensures your business has accurate, complete financial records for the year—without the cost of ongoing monthly bookkeeping.

It is ideal for business owners who:

• Have simple operations

• Maintain relatively low transaction volume

• Primarily need clean books for tax filing and compliance

By completing your bookkeeping annually, ABBL helps you stay organized, compliant, and prepared—without overpaying for services you don’t yet need.