Monique Dodd- Bookkeeping Services is the Deer Creek Chamber’s Business of the Month. Monique has been in the bookkeeping field since 1990 and started her own business in 1997. Her and her family relocated to Deer Creek in 2002.
She provides her clients with bookkeeping services that include organizing all info by month-accounts receivable/accounts payable, reconcile monthly bank/savings accounts, credit card reconciliations, cash detail reports, payroll, federal/state tax deposits/reports-all monthly/quarterly/yearly reports for tax filings, inventory control, sales tax reports/payables (retail accounts), profit/loss reports.
“We were Putnam City residents prior; we were not aware of the Deer Creek community until we purchased our home in DC School district. We wanted to move out of OKC a bit. We were excited to become a part of the “heart of a community and hard work”– we call Deer Creek.”, said Monique.
What’s the difference between bookkeeping and accounting? I do not have an accounting degree. Accountants have much more knowledge of the process. They are always up- to- date on tax changes, forms, filings, legal requirements, etc. However, I have gained a lot of knowledge from the accountants I work with. My work is received from referrals of accountants and tax attorneys who are need to find a bookkeeper who can organize, follow the plan of bringing a client’s account(s) up to date for both the federal and state filings for their personal/business and hopefully continue on a monthly/yearly basis with that client. A good bookkeeper will follow the accountant’s leads and suggestions. The cooperative effort provides the result to the client of: keeping compliance with filings, a productive business and account(s) that reflect organization to assist with business growth and needs.
What are some tax tips you might give other businesses? I would recommend any business consult with an accountant. Ask them if they have a bookkeeper or if they refer one or may have one in house. This can be a cost savings. As you are not paying a higher hourly fee for an accountant vs. a bookkeeper. The bookkeeper can organize and work closely with the accountant to bring the client up to date. If a business has concerns, an accountant who also specializes as a “tax attorney” (one who can help your business should it be called into question in a court setting by the IRS or state) is a good choice. I also suggest to stay organized. (Even receipts in a shoe box can be a start, at least all the paperwork is in one box.) File taxes early or on time and if you cannot follow the guidelines for requesting an extension. Do not ignore letters from federal or state tax entities. A response to their request, even when you may not be able to meet it, it better than none.
If you would like more information about bookkeeping services you can contact Monique at 405. 550.9884.