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Innovative Accounting

710 East Main Street, Lexington, KY, USA

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‘19 Certificate of Excellence, 2019

About

We believe that innovation is happening all around us, all the time, and we take advantage of the technology that is out there in order to provide a better experience for both our clients and our employees. We are a fully virtual accounting company that is not tied down to outdated procedures or geographical location which allows us to offer reasonable prices with exceptional services.

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5 hires on Bark
14 hour response time

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Reviews (4)

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5/5

4 customer reviews

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9 February 2019

The team at Innovative Accounting is very professional and efficient. They take charge of your books and you don’t have to worry about a thing. Highly recommended!

Reviewed on Facebook

14 January 2019

Got exactly what I paid for at a good rate. Will continue to use Bethany.

6 November 2018

This was probably the best tax preparation experience my husband and I have ever had. We usually don't take the time to write reviews, but the service we got deserves it. The lady we delt with, Bethany, was very professional and informative. We had a lot of questions due to our unique circumstances, she was very patient and knowledgeable through the entire process. For the service we received it was very reasonably priced, we will definitely use her again. More...

Reviewed on Google Maps

4 October 2018

Best experience I've had working with an accountant!

Reviewed on Facebook

Q&As

Bookkeeping, Accounting, Projects, Budgets & Forecasting, Financial Analysis, Quickbooks Cleanups & Conversions, and Tax Preparation

Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more. One of the main causes is poor financial management. Partnering with a great accountant can help you see exactly where your business is so that you have a path to get to where you want to be.

My favorite part of my job is solving problems. I love fixing things, improving processes, and cleaning up accounts.

I like to have a flexible schedule to work to live our lives instead of living life to work, and I also wanted to offer that same option to the people who work with me. Having my own business allows me the freedom to provide solutions to my clients that I know will work, while at the same time having time for the more important things in life.

We genuinely care about the success of our clients and so we devote extra time and effort into going the extra mile. We want you to be happy with the service you receive, and we want to show you how you can optimize your financial resources to achieve the best results possible for your business.

Yes, all of our services are provided online and remotely.

Services

Are you confident that the reports you are pulling in Quickbooks are accurate? Many small businesses state that their Balance Sheet is incorrect and they don’t know how to fix it. Unfortunately, an incorrect Balance Sheet means an incorrect Profit & Loss report as well. It may seem like an overwhelming mess, but this is where we shine. We look at every transaction that has went through your company for the time period you want to clean up in every account. We perform all your reconciliations and verify all your balances. We work on your account until we are confident it is accurate, regardless of the time it takes us.

For this work our prices are set from the beginning, based on the time period we are cleaning up and the amount of transactions. There will be no surprises on your end when it comes to billing, even if takes twice the time we originally estimated.

Financial analysis reports show what you are currently doing and how you need to change in order to reach your goals, and a budget gives you the plan on how to get there.

Budgets: One of the most important tools in a business is a budget. A budget helps you pinpoint where you need to be in order to be profitable and gives you a concrete way to measure where you want to be against where you actually are. A budget allows for strategic, long-term planning that will help your business to succeed.
Financial Analysis: Are Profit & Losses and Balance Sheets all Greek to you? We use advanced analysis tools to provide you with an easy to read report with insights and metrics that actually let you know what you are doing right and what you are doing wrong. We measure and monitor KPIs (key performance indicators) that matter most to your business. We use charts, tables, and visually appealing graphics to make your financials simple.
In-Depth Forecasting, Projecting, & Budgeting: We partner with Futrli, an intensive forecasting software, to create and maintain multiple budgets, forecasts, and scenarios to give you the information you need to confidently make business decisions. This is for the business that has grown to have many moving parts and needs a cohesive way to bring them all the data together and see how making a change would affect the business in the long run.

We offer different packages depending on the size of your business, your needs, and your budget. We understand that small businesses are tight on cash and need to watch their expenses, so our Starter Package gives you what you absolutely need to ensure you have accurate financials.

As you are growing, you will need more information to make smart business decisions and strategies to save money on your taxes. For growing businesses, our Standard & Elite Packages provide advisory services that fill these needs, eliminate stress, and save you time.

We know it’s not fun, but it has to be done. We prepare each tax return as if it was our own. We send out initial questionnaires, perform initial tax work, and then follow up with questions and try to identify any missing deductions, errors, or documents that might affect the accuracy or amount of your taxes. We certainly don’t want you to have to pay any more than you absolutely have to. Additionally, we perform an extensive review process before filing each tax return.

If you hate paying taxes, we are right there with you. We partner with a fantastic tool that updates your tax projections in real time based on the current performance of your company. We build your individual tax strategy based on your current tax projections and identify what you need to do before the end of the year to lower your tax burden as much as possible.