Frequently asked Questions|Dailey Bookkeeping Services

How secure is your data?

Your Bill.com account:

Bill.com is committed to protecting the security and privacy of your information. We know that information regarding you and your company is extremely important and confidential. Bill.com uses the industry's most advanced security and process controls to ensure that the security, confidentiality, and availability of your data is protected. Bill.com is a US-based corporation and all storage and processing of data is done in the US.

Best-in-Class Data Security
  • Extended Validation (EV) SSL encryption technology - ensures privacy of communications between your browser and the Bill.com service.
  • Firewalls prevent unauthorized electronic access to servers.
  • Production servers are in high-security locked facility with biometric access controls preventing unauthorized physical access to servers.
  • All sensitive data is encrypted at rest in our database.
  • Offsite continuous backup enables Bill.com to recover from a potential disaster quickly.
Industry-Leading Controls
  • Bill.com undergoes an annual SSAE 16 SOC 1 Type II Audit by a leading national CPA Firm.
  • Payments are FDIC-insured en route.
  • Our employees may access your information only to help us provide you with our service.
  • All employees undergo background checks and annual training on security and handling sensitive data.
  • We will make any legally required disclosures of any breach of the security, confidentiality, or integrity of your information to you via email or conspicuous posting on this Site without unreasonable delay, insofar as consistent with (i) the legitimate needs of law enforcement or (ii) any measures necessary to determine the scope of the breach and restore the reasonable integrity of the data system.
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What is Bookkeeping?

Bookkeeping is the recording of financial transactions. Transactions include sales, purchases, income, receipts and payments by an individual or organization. Bookkeeping is usually performed by a Bookkeeper, who recorded the day-to-day financial transactions.

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What is Accounting?

Many times the terms accounting and Bookkeeping get confused. Accounting is the process of summarizing, analyzing and reporting financial transactions pertaining to a business. Accounting allows a company to analyze the financial performance of the business.

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What is the Certified Public Bookkeeper (CPB) and how are they different from a bookkeeper?

Anyone can say they do bookkeeping. They may read a book, take a class or two, or they may use an accounting program and therefore say they are a bookkeeper. Just being able to use the software and using it properly are two different things.

Certified Public Bookkeepers or CPBs are distinguished from other bookkeepers providing bookkeeping services to the public by stringent licensing requirements. CPBs have extensive bookkeeping knowledge, skills, experience, and ethics. In order to qualify for the CPB license, CPBs must possess bookkeeping education, pass a rigorous national certification exam, meet experience requirements, conform to a professional code of conduct, and obtain a minimum of 24 hours of continuing professional education annually.

The 3 part Uniform CPB Exam covers topics not only in Bookkeeping, but also payroll and Taxes such as:

  • Accounting: The Language of Business
  • Analyzing Business Transactions
  • Analyzing Business Transactions Using T Accounts
  • The General Journal and the General Ledger
  • Adjustments and the Worksheet
  • Closing Entries and the Post-closing Trial Balance
  • Accounting for Sales and Accounts Receivable, and Cash Receipts
  • Accounting for Purchases, Accounts Payable,
    and Cash Payments
  • Cash
  • Payroll Computations, Records, and Payment
  • Payroll Taxes, Deposits, and Reports
  • Accruals, Deferrals, and the Worksheet
  • Financial Statements and Closing Procedures
  • Payroll and Personnel Records
  • Computing Wages and Salary
  • Payroll and Personnel Records
  • Computing Wages and Salary
  • Social Security Taxes
  • Income Tax Withholding
  • Unemployment Compensation Taxes
  • Analyzing Compensation Taxes
  • Analyzing and Journalizing Payroll Transactions
  • Federal Taxation and Understanding Federal Tax Law
  • Tax Research, Practice, and Procedure
  • Individual Taxation
  • Gross Income
  • Gross Income - Exclusions
  • Deductions: General Concepts and Trade or Business Deductions
  • Deductions: Business/Investment Losses and Passive Activity Losses
  • Deductions: Itemized Deductions
  • Tax Credits, Prepayments and Special Methods

Getting an education in accounting teaches you the rules and laws of accounting (debits and credits); where to go to research for answers and how and where transactions will appear on which financial statements and how they affect the firms finances once they are posted. Also accounting theory teaches you why things are done either a certain way or in a certain order.

"Here is a great question that was posted in the LinkedIn Group 'American Institute of Professional Bookkeepers' on 11/09/12, which demonstrates the importance of making sure that you hire a professional bookkeeper."

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What is a Certified QuickBooks ProAdvisor?

Certified QuickBooks ProAdvisors are independent CPA’s, accountants, bookkeepers, computer consultants and trainers who work with small businesses and who have completed a rigorous and comprehensive QuickBooks curriculum developed by Intuit®. They understand the challenges you face and can offer guidance on everything from complex accounting questions and payroll interpretation to mastering advanced features of QuickBooks. ProAdvisors have taken a 3-part QuickBooks Certification course and have successfully completed comprehensive testing.

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What is a Xero Certified Advisor/Xero Certified Bronze Partner

Xero Certified Advisors have completed comprehensive Xero curriculum developed by Xero® in all aspects of the software including conversion and set up and have taken a 2-part Xero® certification course and have successfully completed comprehensive testing. A Xero Certified Bronze Partner has the same training as a Xero Certified Advisor however they have shown Xero that they have not only passed the certification, but they know how to use the software and have at least 25 active clients using Xero that they work with.

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What is a Registered Tax Return Preparer (RTRP)?

A RTRP is a certification through the IRS that requires all paid tax return preparers to register with the IRS each year and pass a one-time competency test which is a 2½ hour test that must be taken at a Prometric test center. Additionally, they must complete 15 hours of continuing education each year, and must pass a tax compliance check, and a suitability check.

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How do you pay my bills if I hire you to do my A/P?

There are two options that you can choose from when it comes to paying your bills:

  • Online Banking - You create a new user within your bank's website that has limited access to download activity, see statements, and paying bills to a certain amount for example, and we will access your bank account and pay your bills.
  • Bill.com - Gives you command and control over your cash flow, payables, and receivables – anywhere, anytime. It rakes in receivables faster, shows you the best time to pay every bill and eliminates hours of paperwork and drudgery. It invoices your customers, pays the bills on your schedule, banks your deposits and even syncs everything with your accounting program, freeing your time – and your mind – to grow your business!
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