Bookkeeping & Accounting

Monthly bookkeeping is an ongoing accounting service that maintains accurate financial records for small businesses. Monaco CPA provides transaction categorization, bank reconciliation, monthly financial statements (P&L and balance sheet), and QuickBooks Online management starting at $300/month.

Clean, accurate books are the foundation of every good business decision. Monaco CPA provides monthly bookkeeping services that give you a clear picture of your financial health - so you can make confident decisions and stay compliant.

I use QuickBooks Online as the primary platform and am a Gold Certified ProAdvisor. Whether you need a fresh setup, a cleanup of messy books, or ongoing monthly management, I handle it all personally.

Every month you'll receive reconciled books and clear financial statements. No surprises at tax time.

**Monthly vs. weekly bookkeeping:** Most small businesses and solo professionals do well with monthly bookkeeping. All transactions are reconciled once a month and financial statements are delivered within the first two weeks of the following month. High-volume businesses, restaurants, or businesses with weekly payroll may benefit from weekly reconciliation to keep cash flow visibility current.

**Platform flexibility:** QuickBooks Online is the primary platform due to its integration ecosystem, bank feed reliability, and seamless handoff to tax preparation. [FreshBooks](/services/freshbooks) is ideal for service businesses, freelancers, and professionals who bill by time or project - I'm the only FreshBooks Certified Collaborative Accountant in NJ. Xero is a strong alternative for businesses that prefer its interface or use Xero-compatible apps. I help you evaluate which platform fits your volume, industry, and budget - and handle the setup so you start on the right chart of accounts.

**Industries served:** Bookkeeping needs vary significantly by industry. Service businesses (consultants, therapists, freelancers) need clean revenue recognition and 1099 tracking. E-commerce businesses need inventory costing, marketplace fee reconciliation, and multi-state sales tax tracking. Restaurants need FICA tip credit tracking and cash-basis compliance. Construction businesses need job cost accounting and subcontractor 1099 management. Monaco CPA has worked across all of these and adapts the bookkeeping structure to your industry.

**NJ payroll tax obligations your books should track:** If your business has employees, your books need to properly track NJ Unemployment Insurance (NJ-927 quarterly), NJ family leave insurance (FLI), NJ disability insurance (TDI), NJ WF/SWF taxes, and local payroll taxes where applicable. Proper categorization of these withholdings from the start prevents year-end corrections and audit exposure.

**2026 1099-NEC threshold change:** Under OBBBA Section 70433, the 1099-NEC reporting threshold rises from $600 to $2,000 starting in 2026. This reduces paperwork for many small businesses that pay contractors smaller amounts, though the income is still taxable to the recipient regardless of whether a 1099 is issued.