Professional Bookkeeping and Financial Services for South Carolina’s Businesses

Welcome to R&D Legal Bookkeeping, where our mission is to help small and medium-sized businesses across various industries manage their finances with precision and foresight.

With over 30 years of experience, we’ve evolved from a legal bookkeeping firm to a multifaceted provider of financial services, catering to a diverse clientele from real estate to tech startups.

Our personalized approach combines the latest technology with seasoned expertise to keep your business financially sound and ahead of the curve.

Our Services In South Carolina

At R&D Legal Bookkeeping, we understand that each business has its unique financial pulse. That’s why we offer a suite of services designed to cater to the specific needs of your business:

Outsourced Bookkeeping:

In the realm of modern business, financial clarity and efficiency are paramount. R&D Legal Bookkeeping’s Outsourced Bookkeeping service is the cornerstone for businesses that aim to streamline their financial operations without the overhead of an in-house CFO. Our service is a cost-effective solution that provides you with a dedicated team of bookkeepers, leveraging cutting-edge technology to ensure your financials are meticulously managed.

Our Outsourced Bookkeeping service begins with a comprehensive analysis of your current financial system, identifying areas for improvement and integration. We tailor a bookkeeping strategy that aligns with your business goals, ensuring that every transaction is accounted for and every financial statement reflects the true state of your business. With our service, you gain access to a suite of benefits:

  • Cost Savings: Eliminate the need for additional full-time salaries and related expenses.
  • Time Management: Redirect your focus from managing books to growing your business.
  • Expertise: Benefit from our team’s collective knowledge and experience.
  • Scalability: As your business expands, our services flex to meet your growing needs

QuickBooks Services In South Carolina:

QuickBooks is one of the leading accounting software options for businesses due to its user-friendly interface and powerful features. At R&D Legal Bookkeeping, we specialize in QuickBooks services that maximize the potential of this software for your business. From initial setup and customization to ongoing support and training, our QuickBooks experts ensure that you are getting the most out of your investment.

Our QuickBooks Services include:

  • Setup and Customization: We configure QuickBooks to fit the specific needs of your business, ensuring that your financial tracking is both comprehensive and easy to understand.
  • Training and Support: Our team provides training for you and your staff, empowering you to manage your day-to-day bookkeeping with confidence.
  • Troubleshooting: If you encounter any issues or have questions, our QuickBooks specialists are ready to assist you with prompt solutions.
  • Data Migration: Safely transfer your existing financial data to QuickBooks without loss or corruption.

With R&D Legal Bookkeeping’s QuickBooks Services, you gain a partner that not only understands the software but also understands how it can serve your unique business needs.

Bookkeeping Services In South Carolina:

R&D Legal Bookkeeping’s Bookkeeping Services are the bedrock of financial health for small to medium-sized businesses. We understand that accurate bookkeeping is the lifeline of a business, ensuring that every dollar is accounted for and that your financial decisions are based on solid data. Our services are comprehensive, encompassing all aspects of bookkeeping to keep your business on track.

Our professional team works closely with you to manage your day-to-day financial records, from invoicing and payroll to expense tracking and financial reporting. We ensure that your books are not just up-to-date, but provide actionable insights:

  • Customization: Services tailored to the unique needs of your business.
  • Reconciliation: Meticulous matching of your accounts with bank statements.
  • Reporting: Regular, detailed financial reports for a clear picture of your financial status.
  • Compliance: Ensuring your financial practices meet regulatory standards.

Virtual Bookkeeping In South Carolina:

In an era where remote work has become a staple, R&D Legal Bookkeeping’s Virtual Bookkeeping service stands out as a flexible and efficient solution for managing your business finances. Our virtual services offer the same level of accuracy and reliability as traditional bookkeeping but with the added convenience of remote access. This means you can keep your financials in check from anywhere, at any time, without the need for physical paperwork or in-person meetings.

Our Virtual Bookkeeping services include:

  • Remote Access: Utilize cloud-based software to access your financial data securely from any location.
  • Real-Time Updates: Your financial records are updated in real-time, providing you with up-to-the-minute insights.
  • Paperless Transactions: Reduce your carbon footprint and storage needs with digital record-keeping.
  • Customized Support: Whether you need full-service bookkeeping or just occasional oversight, we can provide a package that fits your needs.

By choosing R&D Legal Bookkeeping for your virtual bookkeeping needs, you’re not just keeping up with the times; you’re staying ahead of the curve.

Trust Accounting In South Carolina:

Trust accounting is a critical service requiring precision and an understanding of the legal responsibilities involved. R&D Legal Bookkeeping offers specialized trust accounting services that ensure compliance with state laws and ethical rules. Our meticulous approach to managing and reporting on trust accounts safeguards the interests of all parties involved and maintains the integrity of your fiduciary duties.

Our Trust Accounting services provide:

  • Accuracy: Detailed tracking of all trust transactions to ensure accurate accounting for every client.
  • Compliance: Adherence to the strict regulations governing trust accounts, helping you avoid legal pitfalls.
  • Reporting: Timely and precise reports that give you and your clients confidence in the management of trust funds.
  • Reconciliation: Regular reconciliation to maintain a three-way match between bank statements, ledgers, and client balances.

With R&D Legal Bookkeeping, your trust accounts are managed with the utmost care and professionalism, giving you peace of mind and protecting your reputation.

Payroll Services In South Carolina:

Payroll management can be complex, time-consuming, and fraught with risk if not handled correctly. R&D Legal Bookkeeping’s Payroll Services streamline this essential business function, ensuring your employees are paid accurately and on time, every time. We manage the intricacies of payroll processing, tax withholding, and reporting so you can focus on running your business.

Our Payroll Services include:

  • Efficient Processing: Automated payroll systems that save time and reduce errors.
  • Tax Filing: Timely and accurate filing of all payroll-related taxes to avoid penalties and interest.
  • Custom Reports: Detailed payroll reports that provide insight into your labor costs and support financial planning.
  • Employee Access: Easy access for employees to pay stubs and tax documents, enhancing transparency and trust.

R&D Legal Bookkeeping’s Payroll Services are not just about writing checks; they’re about providing a comprehensive payroll solution that supports your business’s overall financial health.

Business Consulting In South Carolina:

At R&D Legal Bookkeeping, we go beyond traditional bookkeeping to offer strategic business consulting services. Our goal is to help you navigate the complexities of business ownership, from financial planning to operational efficiency. With our extensive experience and industry knowledge, we provide actionable advice that can lead to significant improvements in your business performance.

Our Business Consulting services focus on:

  • Strategic Planning: Developing long-term strategies that align with your business goals and market opportunities.
  • Financial Analysis: Interpreting financial data to identify trends, opportunities, and areas for cost savings.
  • Operational Review: Assessing your business processes to improve efficiency and reduce waste.
  • Growth Advising: Providing insights and guidance to support the scaling of your business.

With R&D Legal Bookkeeping, you gain a partner who is as invested in your business’s success as you are, offering expert advice every step of the way.

Financial Statements In South Carolina:

Accurate financial statements are the foundation of sound business decision-making. R&D Legal Bookkeeping’s Financial Statement services ensure that you have a clear, accurate, and up-to-date picture of your business’s financial health. We prepare and analyze your financial statements, providing you with the critical information needed to make informed business decisions.

Our Financial Statement services include:

  • Balance Sheets: Providing a snapshot of your company’s financial position at any given time.
  • Income Statements: Detailing revenues, expenses, and profits to help you understand your business’s profitability.
  • Cash Flow Statements: Tracking the flow of cash in and out of your business to manage liquidity effectively.
  • Custom Financial Reports: Tailoring reports to meet specific management or investor needs.

With R&D Legal Bookkeeping, you can trust that your financial statements will be prepared with precision, providing you with a reliable basis for planning your business’s future.

Bank Reconciliation In South Carolina:

Bank reconciliation is a vital process to ensure the accuracy of your financial records. R&D Legal Bookkeeping’s Bank Reconciliation services compare your internal financial records against bank statements to identify any discrepancies and ensure that every transaction is accounted for. This meticulous process is crucial for maintaining the integrity of your financial data.

Our Bank Reconciliation services offer:

  • Error Identification: Quickly spotting and correcting any discrepancies in your records.
  • Fraud Prevention: Detecting unauthorized transactions that could indicate fraudulent activity.
  • Account Accuracy: Ensuring your financial statements accurately reflect your bank balances.
  • Peace of Mind: Knowing that your financial records are consistent with your bank statements.

R&D Legal Bookkeeping provides thorough and reliable bank reconciliation services, giving you confidence in the accuracy of your financial information.

Cash Flow Management In South Carolina:

Navigating the ebb and flow of business finances can be one of the most challenging aspects of running a company. At R&D Legal Bookkeeping, we specialize in Cash Flow Management, a service crucial to the sustenance and growth of your small to medium-sized business. Our approach is not just about tracking dollars and cents; it’s about creating a strategic plan that ensures your business thrives through all financial tides.

Strategic Cash Flow Planning: Our service begins with an in-depth analysis of your current cash flow situation. We look at the cycles your business goes through, identifying patterns in income and expenditures. With this information, we craft a strategic plan that addresses the timing of cash movements, helping to avoid shortfalls and capitalize on surpluses.

Cash Flow Forecasting: We provide detailed forecasting that projects your financial future based on historical data, current trends, and planned initiatives. This forecasting allows you to anticipate cash needs, plan for investments, and make informed decisions about financing options.

Receivables and Payables Optimization: Our team works to optimize your Accounts Receivable processes to speed up cash inflow, while carefully managing your Accounts Payable to maintain good supplier relationships without compromising your cash reserves. We help you find the right balance to keep your business financially healthy.

Budgeting and Expense Management: A key component of managing cash flow is maintaining a budget and controlling expenses. We assist in creating a budget that reflects your business’s priorities and goals, and we provide ongoing monitoring to keep spending in check.

Liquidity Management: Maintaining liquidity is essential for day-to-day operations and for the flexibility to seize opportunities as they arise. We implement cash management techniques that enhance your liquidity position without increasing unnecessary borrowing or idle cash.

Risk Assessment and Management: We identify potential risks to your cash flow, such as market fluctuations or changes in customer payment behaviors. By understanding these risks, we can develop strategies to mitigate them, ensuring that your business remains stable and secure.

Customized Reporting: You will receive customized reports that give you a clear picture of your cash flow status. These reports are designed to be easily understood and actionable, providing the insights you need to steer your business effectively.

Proactive Advice and Support: Our team is always on hand to provide proactive advice and support. We work with you to adjust plans as your business evolves, ensuring that your cash flow management strategy remains aligned with your changing needs.

With R&D Legal Bookkeeping’s Cash Flow Management services, you gain more than just a bookkeeping solution; you gain a strategic partner dedicated to your financial success. Our goal is to provide you with the confidence that comes from having a solid cash flow plan in place, so you can focus on growing your business with peace of mind.

Accounts Receivable/Payable In South Carolina:

Efficient management of Accounts Receivable (AR) and Accounts Payable (AP) is a vital component of a company’s financial health. R&D Legal Bookkeeping offers comprehensive services to manage these critical aspects of your business finances, ensuring that cash inflow and outflow are balanced optimally for sustained growth and profitability.

Accounts Receivable Management:

Our AR services are designed to accelerate cash flow and minimize the time between delivering a service or product and receiving payment. Here’s how we can help:

  • Invoice Processing: Timely and accurate invoice generation to ensure prompt payments from customers.
  • Payment Tracking: Diligent monitoring of incoming payments and customer accounts to quickly identify overdue accounts.
  • Collections Management: Tactful and effective collections strategies to recover outstanding receivables while maintaining positive customer relationships.
  • Reporting and Analysis: Regular reports on the status of receivables, aging analysis, and identification of trends to improve the collection cycle.

Accounts Payable Management:

Our AP services focus on managing your outgoings to ensure that you meet your financial obligations efficiently without compromising your cash position. Our services include:

  • Bill Management: Organized handling of all bills, ensuring that they are paid on time to avoid late fees and maintain supplier relationships.
  • Payment Scheduling: Strategic scheduling of payments to optimize cash flow while taking advantage of any early payment discounts.
  • Expense Tracking: Monitoring of expenses against budget forecasts to control costs and prevent overspending.
  • Vendor Communication: Maintaining open lines of communication with vendors regarding payment expectations and terms.

Integrated Approach:

We understand that AR and AP are interconnected, and effective management requires a holistic approach. Our integrated AR/AP services ensure that:

  • Cash Flow is Optimized: By aligning receivables and payables, we help maintain a healthy cash flow that supports business operations and investments.
  • Financial Obligations are Met: We balance the timing of payments with incoming funds to ensure that your business can meet its financial obligations without stress.
  • Financial Relationships are Strengthened: Through professional and timely management of receivables and payables, we help you build and maintain strong relationships with both customers and vendors.