What a monthly close is, and why it matters
Bookkeeping is recording what happened. Closing the month is checking that the record is actually right: every bank and card account reconciled against the statement, every transaction categorised, money owed to you and by you recorded in the right period, and the books locked so the numbers stop moving.
Without a close, your books are a rough draft. They look fine until your accountant finds three months of mis-categorised expenses in March, or a lender asks for last year's profit and loss and the number changes depending on when you print it. A closed month is a month you can make a decision from.
The practical payoff is money. Clean monthly books usually mean a cheaper tax return, because your accountant is reviewing rather than reconstructing. They also mean you can see which jobs actually made money, which is the single most useful thing a service business can know.
What you get every month
You get a profit and loss statement, a balance sheet, and a short written summary that says the useful part: revenue was up or down and why, what your biggest costs were, what changed from last month, and anything we think you should look at. Numbers first, plain-English meaning second.
If something looks wrong, we tell you. If revenue dropped, we say so and bring two things you can do about it. That is the job — not sending a report and hoping you read it.
Your books feed everything else: your payroll and sales tax filings, your quarterly CFO review, and your funding readiness if you ever want a loan or a line of credit.
Your QuickBooks, your access
The books live in a QuickBooks account in your business's name. You have full access the entire time. If you ever decide to work with someone else, the file is yours and it goes with you — there is no hostage situation and no export fee.
The QuickBooks subscription itself is passed through at cost rather than bundled into our fee, so you can see exactly what you are paying for software and what you are paying for people.
Signs you need this
- You do not know whether last month was profitable until your accountant tells you in April.
- Receipts live in a glovebox, a shoebox or a photo roll.
- Your business and personal spending share an account.
- Your tax return costs more every year because of cleanup work.
- You cannot say which of your services actually makes the most money.
- A lender or a landlord asked for financials and you had nothing to send.
If two or more of these sound familiar, take the free business checkup — ten questions, two minutes, and you get the list of gaps either way.
How it works
Set up
QuickBooks in your business name, with a chart of accounts built for your trade rather than a generic template.
Connect
Bank and card feeds connected so transactions arrive automatically instead of being typed in.
Close each month
Everything categorised, accounts reconciled against the statements, books locked.
Report
P&L, balance sheet and a written summary of what the numbers mean and what to look at.
What is included
- QuickBooks setup and a chart of accounts built for your trade
- Monthly categorisation of every transaction
- Bank and credit card reconciliation
- Monthly close and locked books
- Profit and loss statement and balance sheet
- A plain-English written summary every month
- Year-end file handed to your CPA ready to file
All of this sits inside one package — the Whitelow Launch + Back Office Partnership — rather than being quoted as a separate service.
Who it is for
- Owners who have never had real books
- Businesses whose tax return keeps getting more expensive
- Anyone planning to apply for funding in the next year
- Owners who want to know their real job margin before raising prices
What affects the price
Whitelow sells one package with two ways to pay: $2,497 one-time plus $597 a month, or $0 up front in exchange for a 15% stake in the LLC. Government fees and your QuickBooks subscription are passed through at cost on both. These are the factors that move what this piece of the work involves:
| Factor | Why it matters |
|---|---|
| Transaction volume | Up to 300 transactions a month is included. Above that there is a published add-on rate so the cost stays predictable. |
| Catch-up work | If there are prior months or years to clean up, that is quoted separately before any work starts. |
| Number of accounts | More bank, card and loan accounts means more reconciliation each month. |
| QuickBooks subscription | Passed through at cost rather than bundled, so you can see what is software and what is service. |
See both payment options side by side, including what each one costs in year one.
Frequently asked questions
How much does small business bookkeeping cost?
Bought on its own, monthly bookkeeping for a small service business commonly runs in the range of $300 to $700 a month, and many firms quote $400 to $800 for businesses under $5M in revenue. Whitelow includes bookkeeping and the monthly close inside one partnership fee alongside compliance, payroll, HR and quarterly CFO reviews. See pricing for the exact figure.
Do I still need a CPA for my taxes?
Yes, and that is by design. We keep the books clean and hand your CPA a finished file at year end, which usually makes their work faster and cheaper. We are not a substitute for a tax preparer or a tax advisor.
What if my records are a mess right now?
That is normal and it is fixable. We start by catching up the period that matters, tell you honestly how far back it is worth going, and get you current. Cleanup work beyond the normal scope is quoted before we start it, never added as a surprise.
What counts as a transaction?
Every line that hits your business bank or card accounts. The partnership covers up to 300 transactions a month; above that there is a published add-on rate rather than a renegotiation. Most one-truck and two-truck service businesses sit well under that.
Will I see my numbers before anything is filed?
Yes. You see every number every month, in plain English, and nothing is filed without your okay. If you do not trust people with your money, good — you should not have to. Transparency is the point.
Who owns the QuickBooks file?
You do. It is in your business name, you have full access throughout, and if you ever leave it goes with you. There is no export fee and nothing is held back.
How quickly after month end do I get my numbers?
We close and report on a set schedule each month so you know when to expect it. The date is agreed when you start, and if something will be late you hear it from us before the date rather than after.