FAQ

I already have a bookkeeper, why do I need Neema Consulting?

Most bookkeepers do a great job, but they usually do not have the experience to address many of the complex issues that we encounter in our industry. Many of these issues do not surface until they become a problem. These issues, and there are many, will inevitably re-appear at the most inopportune time, if ignored, or are not properly addressed. Many business owners do not have the background or the time to properly train and supervise a bookkeeper. This absence of supervision and the inability to properly answer complex financial questions will often lead to bad decision making, which in turn will cause larger issues for the company. Neema Consulting staff has over a decade of bookkeeping experience in various industries. We not only understand the financials, but also the business needs. For example, if we see an invoice for one box of pens, which costs $10, we would question the reason behind the purchase because we know a box a pen would cost around $4, whereas a bookkeeper would simply pay the invoice. Bookkeepers are just data processors who record transactions, but often do not know the full implication of the transactions for financial statements and tax purposes. Neema Consulting would not only complete the data processing, but would also analyze the data, and raise issues and concerns.

Wouldn’t I be better off hiring an in-house bookkeeper?

In most cases, no. To hire an in-house bookkeeper, first you must find that person, check their credentials, negotiate a salary, hire and train them, and manage them. That can be very expensive both in time and money for a business owner. You must also provide office space, desk, computer, office supplies, and software for them to use. You incur payroll tax expenses, vacation and sick time, and the cost of other benefits for that employee. If the person you hire is part-time, you must manage their hours and will only have access to them when they are at work. If they go on vacation, get sick, or leave the company, you may have a large gap in your accounting and payroll. However, with Neema Consulting, if a staff member is sick or leaves, there is no burden upon the client. We will always have another experienced and knowledgeable employee on hand to cover the necessary bookkeeping responsibilities. Furthermore, in some cases, there can be security concerns when only one person has access to all your business financial information, data, bank accounts, statements, and checks. With Neema Consulting, internal controls and the division of tasks among our employees allows for resilient security protection.

What makes Neema Consulting different from various management consulting companies?

Neema Consulting will take charge of all your bookkeeping needs through proactive industry specific services, whereas other consulting firms focus only on specific areas.

My business is small… why shouldn’t I just hire a part-time bookkeeper?

All of our staff is full time. Companies who have part-time in-house bookkeepers find that problems may occur when the employee works part-time, calls in sick, or even leaves the company on short notice. With Neema Consulting, you get full-time, reliable, professional service. We will be able to answer your questions immediately, not just on Tuesdays and Thursdays. Most importantly, you have decades of experience running your back office instead of a part-time practitioner who is not likely to be as up to date on critical issues. You will save money with Neema Consulting and have the benefit of the back office capabilities of a much larger organization.

Am I not giving up a lot of control by using Neema Consulting services?

You actually don’t give up any control. We are not managing your business. We are a service provider, the same way that ADP or Paychex may have processed your payroll in the past. You maintain complete control over the management of your business and you maintain complete control over your cash. We provide the data and suggest solutions, but you approve any operational changes and all invoices for payment and sign all checks ensuring proper segregation of duties over the cash function.

Does Neema Consulting replace my Accountant or prepare my taxes?

Neema Consulting is not an accounting firm. We do not provide income tax planning and preparation or perform audits, compilations, or other types of financial reviews. We view ourselves as an extension of our client’s business and act in that capacity to provide a foundation of accurate, auditable, financial records from which outside accountants work. Neema Consulting believes that your accountant should prepare your taxes. They have the expertise in the preparation and the filing of tax returns. Neema Consulting is very involved and experienced in advising clients on business practices that will both minimize taxes and be compliant. This strategy is best implemented jointly with those responsible for preparing your tax return. If you currently do not have an outside accountant, Neema Consulting can refer someone who will affordably and accurately advise you and prepare your tax returns.

What Will It Cost?

It will cost less then what you’re spending or planning on spending now to develop and implement in-house solutions. We are replacing employees in your company so you will be able to save hiring and training cost. You will no longer have to pay for rent, phone lines or benefits for those employees. You will incur no hardware, software or ongoing maintenance costs. Our rate is determined by the nature of the work involved.

How long does it take to deploy Neema Consulting systems and services?

Neema Consulting can quickly deploy its services in your business because our systems and procedures are already tested and operating with live customers in real environments. You avoid the internal development learning curve time and expense of figuring it out on your own. Typical implementations range from 10-20 days.