A monthly close that lands on time, reconciles to the penny, and gives you numbers you can actually run the business on.
Most owners don't need more reports. They need one set of numbers they trust, delivered before the month is a distant memory. Monthly bookkeeping means every transaction gets coded, every account gets reconciled, and the books get closed on a schedule you can count on.
Baum's Accounting Services has spent 18 years on the inside of finance departments as bookkeepers, controllers, and CFOs. We know what a clean month looks like and how fast a sloppy one compounds. Companies across Lexington and the surrounding Kentucky markets bring us in when the books have stopped keeping up with the business. The work is done on site or virtually, whichever fits how you operate.
The close is a sequence, not a pile of tasks. Bank and credit card accounts get reconciled first, because nothing downstream is reliable until cash ties out. Then income and expenses get coded to the right accounts, not dumped into a catch-all bucket. Loans, credit lines, and any accounts with interest get trued up so the balance sheet reflects what you actually owe. Payroll gets recorded correctly, including the employer side. Once that's done, the financial statements mean something.
There's a version of bookkeeping where the books get touched once a year, right before somebody needs a tax return. It works fine until you have to make a decision. Should you take that job? Hire? Buy the equipment or lease it? Those questions need last month's numbers, not last year's. When a close happens every month, you catch the margin slip in February instead of finding it the following spring. You see the customer who's quietly stretched to 75 days. Small problems stay small when somebody's looking at them regularly.
The clients who get the most out of monthly bookkeeping are usually somewhere between $5M and $50M in revenue. They have real payroll, real receivables, and enough moving parts that a part-time data entry person can't keep up. Construction, healthcare, retail, and service businesses all land here. If your current setup handles the transactions but nobody's actually reviewing what those transactions add up to, that's the gap. Monthly bookkeeping closes it, and it's the foundation for controller or CFO support later if the business needs that.
It depends on how quickly bank feeds and payroll data come through, but the target is a close finished within the first couple weeks of the following month. That timing gets set during onboarding so you know what to expect. A predictable date matters more than a fast one you can't rely on.
No. The firm doesn't prepare or file income tax returns. What you get is a clean, closed set of books that your CPA can work from without a cleanup project first, and we can refer you to an outside CPA firm if you need one. Sales tax filings, payroll tax filings, and quarterly estimated payments are handled here.
QuickBooks Online, QuickBooks Desktop, Xero, Sage, and NetSuite. If you're already set up in one of those, we work in your file rather than moving you. If the setup itself is the problem, that gets addressed before monthly work starts so we aren't closing on a broken foundation.
Other work in this area that tends to come up in the same conversation.
For lower-volume businesses, a full close every three months covers what monthly attention would, at a rhythm that matches how often the numbers actually change.
Read moreOne yearly pass that pulls twelve months of activity into finished statements, with the supporting detail your outside CPA firm will ask for.
Read moreBehind by months or years? The backlog gets rebuilt period by period until the file is current and every balance ties to something real.
Read moreBook a consultation. Half an hour is usually enough to know whether this is a fit.
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