Questions & Answers

During our many years of being in business, we have identified the questions most frequently asked by our future clients.  We thought you would like to know this information too!  

Q.
 I am presently doing my own books or...I have an in-house bookkeeper.  Why should I outsource?
 
 
A:  The #1 reason is it allows you to spend more time on your business, your customers, and your personal life by having us do your financial work!  You'll have more time in your week to spend on what you choose to!  
 
Secondly, we are accounting professionals and we know our business and the standards that must be adhered to, just as you know your business.  You can be assured that the work will be done right, according to industry standards, and on time. 
 
If you presently have someone on staff doing your books, we can probably save you money!  Consider the costs in both time and money associated with having a bookkeeper on your staff: recruiting and hiring; salary; benefits and time off; training; possible employee theft or inaccuracies.  If you lose that employee, the recruiting and training process begins again.  With Bayco, we are always here for you!
 
Q.
Is there a difference between the services provided by a bookkeeper and those performed by an accountant?
 
 
A:  Yes, a bookkeeper handles the day-to-day reporting and recording of a firm's financial information.  An accountant will take it a few steps further, by preparing all the necessary financial statements a business owner and his tax preparer need.  An accountant will work with a tax professional to assure accurate information is given.  Bayco Management performs both services.
Q.
Who will be handling my account?
 
 
A:  An Account Specialist will be your primary contact and will have complete day-to-day responsiblity for your account. They will have a total understanding of what your account needs and what your requirements are.  An Account Supervisor will oversee all work.  They will monitor the completed work for accuracy and timeliness before releasing the financial results to you. 
Q.
How do I send & receive information e.g., invoices, bank statements, and financial statements? How do I communicate with Bayco.
 
 
A:  We offer our clients the following methods of communication and information transfer:
  •  Secure E-mail on our secure encrypted file transfer system
  •  Fax
  •  U.S.Mail and overnight courier service
  •  Telephone
  •  Zoom video 
  •  In person -  Our offices or yours.

Depending on the extent of services you ask us to perform, we might ask that certain recurring expenses (utilities, rent, royalties, insurance, etc.) be mailed directly to our office.  Other bills would first go to you for your approval. 

Keeping our clients informed is a top priority at Bayco Management. We strive to communicate timely information so that the business owner can better run their business.  We feel we are "Partnering with Our Clients for Their Success".
 
Q.
I am concerned about the security of my personal and business information.  How do you protect my financial information?
 
 
A:  Our clients privacy is a number one priority at Bayco.  Our team members adhere to the strict enforcement of our Privacy Policy.
 
In addition, Bayco offers a secure encrypted file transfer system as a means of handling data transfer between you and Bayco. This service assures that our clients' financial information is secure in transit and will only be read/received by the intended recipient.  As a client, through this encrypted system, you will have exclusive access to your financial information, 24 hours a day, 365 days a year.
 
Q.
Will you come to my office to perform any services I might need?
 
 
A:  Yes, but  unless there is a specific purpose for us to come to your office, we suggest that our clients let us perform the services in our office.  This not only saves time and is more efficient, but it also saves the additional travel expenses.
 
Q.
Can you process my work remotely to help reduce my costs?
 
Q.
My banker/franchisor is requesting a clearer picture of my business.  Can you help us get our financial information in order?
 
 
A:  Yes, we specialize in helping our Clients organize their financial records to produce reports requested by banks, landlords and franchisors.  Producing accurate and meaningful reports provides a clearer professional picture of your business.
 
Q.
I own a franchise business with a National Franchisor.  The Franchisor requires that all financial information I provide them to be in their standard format.  Can you reproduce what my Franchisor requires?
 
 
A: Yes, we have the ability to customize financial reports to almost any specifications.  In addition, with your approval, your Bayco staffer will provide certain information on a predetermined schedule, to your Franchisor, relieving you of performing these tasks. We understand what National Franchisors want and what they need.
Q.
I notice that you list business consultation as one of your services.  What does this mean?
 
 
A: The principals of Bayco Management have owned and operated businesses for a combined experience of 65 years.  They have "hands on" experience in almost every facet of opening, building, owning and operating a business.  This experience has proved valuable to those Clients who have taken advantage of our business consultation service.
Q.
What are your fees?
 
 
A:  We offer a free one hour consultation for all new Clients.  During this time we determine what your accounting and business needs and wants are.  We then review your transactions over several previous periods. We will then be able to put together a written engagement proposal outlining the services and the cost we will provide  for your review and execution. 
Q.
Do I need to sign a long term contract for your services?
 
 
A:  No long term contract is required.  You can cancel our service at any time by giving a thirty-day notice.
 
Q. Do you provide payroll sevices as part of your service?
 
  
A:  Yes, Bayco provides its Clients complete payroll service!  Whether you pay your employees weekly or bi-weekly we will provide accurate and timely paychecks.

Q. OK I'm interested!  What should I do next?
 
  
A:  Great!  Go to our Contact Us page on this web site and fill out the information form.  E-mail it to us and we will contact you to set up a meeting.  The first meeting takes about an hour and it is free.  There is no obligation.  When you are ready to start,  we will prepare a Client Services Agreement Letter.  Both parties must sign this letter before we begin working on your account.  

ADDITIONAL QUESTIONS

If you should have any additional questions regarding our company, services or how we can help you and your company, please Contact Us.

 

Get In Touch

At Bayco Management we are a Virtual Accounting Firm. We service Clients throughout the United States from our Southfield, Michigan offices. If you need any help in managing any aspect of your business or home's finances, we want to hear from you.

Please fill out this form and let us know how we can be of service to you. We will happily offer you a FREE and no-obligation consultation to determine how we can best serve your company.

Thank you for visiting. We look forward to working together!

Bayco Management Company, Inc

29688 Telegraph Road Suite 200,
Southfield, MI 48034
T: (248)351-1818
F: (248)351-1919
E: tom@BaycoUSA.biz

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