Best Bookkeeping Services in Centennial for Service-Based Businesses

If you run a service-based business in Centennial, Colorado, whether you’re a consultant, contractor, healthcare provider, or professional services firm you know that managing finances feels different than tracking inventory or physical products. Your revenue comes from hours, expertise, and deliverables. Your expenses include labor, subcontractors, software, and overhead. And your bookkeeping needs are unique.

After 23 years of providing bookkeeping services to Centennial businesses, we’ve learned what service-based companies need to thrive financially. Let’s break down everything you should know about finding the right bookkeeping support in Centennial.

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Table of Contents

1. Why Centennial service businesses need specialized bookkeeping
2. What makes service-based bookkeeping different
3. Key bookkeeping challenges for Centennial service companies
4. What to look for in a Centennial bookkeeping service
5. How local Centennial businesses benefit from professional bookkeeping
6. Common bookkeeping mistakes service businesses make
7. When to outsource vs. DIY your bookkeeping
8. Your next step: Getting started

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1. Why Centennial Service Businesses Need Specialized Bookkeeping

Centennial, Colorado is home to a thriving business community. With a population of approximately 107,386 and a median household income of $128,167 one of the highest in the Denver Metro area, Centennial attracts educated professionals and successful businesses.

According to Census Reporter data, the most common employment sectors in Centennial include:

• Professional, Scientific, & Technical Services
• Health Care & Social Assistance
• Educational Services

These are all service-based industries. If you’re running a business in any of these sectors or in consulting, legal services, marketing, IT, architecture, engineering, or similar fields, you’re part of Centennial’s backbone economy.

And here’s what research tells us about service businesses and bookkeeping:

According to our research on financial confidence for small business owners:

• Only 26% of business owners feel truly confident about their accounting
• 45% of SMB owners identify manual invoice review as a problem (PYMNTS survey)
• Business owners spend 10-15 hours monthly on bookkeeping tasks

For service-based businesses specifically, this creates unique challenges because your financial structure is different from retail or manufacturing companies.

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2. What Makes Service-Based Bookkeeping Different

Revenue Recognition Timing

The challenge: You invoice for services, but payment doesn’t arrive immediately. You might complete work in March, invoice in April, and receive payment in May.

Why it matters: This creates a gap between when you earned revenue and when cash actually hits your bank account. Without proper accrual-basis bookkeeping, your financial reports won’t reflect reality.

Centennial context: With the professional services concentration in Centennial, many businesses work with corporate clients who have 30, 60, or even 90-day payment terms. This makes accurate Accounts Receivable tracking critical for cash flow management.

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Labor as Your Primary Expense

The reality: For most service businesses, labor costs (your time, employees, contractors) represent 40-70% of total expenses.

What this means: You need bookkeeping that tracks:

• Employee wages and benefits
• Contractor payments (1099 vs. W-2 classification is critical)
• Your own compensation as the owner
• Billable vs. non-billable time
• Labor costs per project or client

Without this level of detail, you can’t accurately determine:

• Which clients are most profitable
• Whether you’re pricing services correctly
• If you can afford to hire additional help

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Project-Based or Client-Based Tracking

Retail businesses track inventory. Manufacturers track production costs. Service businesses track projects and clients.

You need to know:

• Revenue by client
• Profit margin by project type
• Which services are most profitable
• Time investment vs. revenue generated

This requires QuickBooks class tracking or job costing features that general bookkeepers may not set up correctly for service businesses.

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Fewer Physical Assets, More Intangible Investments

Service businesses typically have:

• Minimal inventory
• Limited equipment (computers, software, office furniture)
• Significant investment in intangibles (software subscriptions, licenses, professional development, marketing)

Your Chart of Accounts should reflect this reality. Cookie-cutter bookkeeping setups designed for product-based businesses won’t work.

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3. Key Bookkeeping Challenges for Centennial Service Companies

Challenge #1: Cash Flow Gaps

The problem: You’re profitable on paper but cash-poor in reality.

According to PYMNTS research, 45% of SMBs identify manual invoice management as a significant payment problem. For service businesses with multiple clients and varying payment terms, this becomes a challenge.

Centennial-specific factor: Many Centennial service professionals work with larger Denver corporations or government entities with structured (slow) payment processes. You might be waiting 60-90 days for payment while still covering payroll, rent, and overhead.

The solution: Proper bookkeeping includes:

• Accurate Accounts Receivable aging reports
• Cash flow projections based on expected payments
• Clear visibility into outstanding invoices
• Systems for following up on late payments

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Challenge #2: Tax Complexity

Colorado-specific considerations:

Service businesses in Centennial need to navigate:

• State income tax: Colorado flat tax of 4.40%
• Centennial sales tax: 2.5% (for applicable services)
• Arapahoe County taxes: Additional county-level obligations
• Quarterly estimated tax payments: Required for profitable businesses
• 1099 reporting: For contractors and subcontractors

According to the IRS, tax code complexity continues to increase. Staying compliant without professional bookkeeping support is increasingly difficult.

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Challenge #3: Time Drain

Research shows business owners spend an average of 10-15 hours monthly on bookkeeping tasks, with some reporting up to 80 hours annually just on bookkeeping and tax preparation.

For service business owners, time is literally money. Every hour spent categorizing transactions or reconciling accounts is an hour not spent:

• Serving clients
• Building relationships
• Marketing your services
• Developing new offerings
• Growing your business

The opportunity cost calculation:

If your billable rate is $150/hour and you spend 12 hours monthly on bookkeeping:

• You’re investing $1,800/month of your time
• Professional bookkeeping services takes this worry off of your plate.

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Challenge #4: Pricing Uncertainty

Without accurate bookkeeping, you’re guessing at profitability.

Some Centennial service business owners struggle with:

• Not knowing their true cost per billable hour
• Can’t calculate profit margin by service type
• They Underprice services because they’re unsure of costs
• They overprice and lose clients to competitors

Clean books tell you:

• Your break-even rate
• Target pricing for desired profit margins
• Which services to emphasize
• Which clients are worth the effort

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Challenge #5: Growth Planning

You can’t scale what you can’t measure.

According to market research, the global bookkeeping services market is projected to reach $106.94 billion by 2033, growing at 9.8% CAGR. This growth is driven by businesses recognizing that professional financial management enables strategic decision-making.

Questions you should be able to answer:

• Can I afford to hire another team member?
• Should I lease office space or stay remote?
• Is it time to invest in new software or equipment?
• Can I take on this large project?
• Should I pursue this new service offering?

These decisions require accurate, current financial data and not guesswork.

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4. What to Look for in a Centennial Bookkeeping Service

Local Expertise and Accessibility

Why Centennial location matters:

There’s value in local Centennial knowledge:

• Understanding of Colorado and Arapahoe County tax requirements
• Familiarity with Centennial business climate
• Availability for in-person consultations when needed
• Local QuickBooks training options
• Connection to Denver Metro business community

Perlinger Consulting offers:

• Three convenient Colorado QuickBooks Training locations (Lakewood, DTC, Cherry Creek)
• Remote bookkeeping services for Centennial businesses
• Accurate accounting
• 23 years serving Colorado businesses

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Service-Based Business Experience

Not all bookkeepers understand service business models.

Ask potential bookkeeping services:

• Do you work with other service-based businesses in our industry?
• Can you set up job costing or class tracking for project profitability?
• How do you handle Accounts Receivable management?
• Can you help with contractor vs. employee classification?

Experience matters. A bookkeeper who primarily works with retail or restaurants may not understand your specific needs.

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QuickBooks Expertise

According to industry statistics:

• QuickBooks Online has more than 5 million users worldwide
• QuickBooks Desktop has more than 3 million users but is now moving over to the online version.
• It’s the industry standard for small to mid-sized businesses

Your bookkeeper should be:

• QuickBooks certified or ProAdvisor qualified
• Experienced with QuickBooks for service businesses
• Able to train you on the platform if needed
• Offering software discounts (we provide QuickBooks Online subscriptions at discounted rates)

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Clear Service Offerings

What should be included:

At minimum, professional bookkeeping services should offer:

• Monthly transaction entry and categorization
• Bank and credit card reconciliation
• Accounts Receivable and Accounts Payable tracking
• Monthly financial reports (P&L, Balance Sheet, Cash Flow)
• QuickBooks file maintenance and cleanup
• Year-end prep for tax filing
• Responsive communication (questions answered promptly)

Optional add-ons you might need:

• Weekly bookkeeping (for high-volume businesses)
• Payroll processing
• Catch-up bookkeeping (if you’re behind)

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Transparent Pricing

Red flags:

• Vague “depends on your needs” without providing estimates
• Hourly billing without caps (costs can spiral)
• Hidden fees for basic services

What to expect: Most Centennial bookkeeping services charge:

• $300-500/month for basic monthly service (fewer transactions)
• $500-1,000/month for comprehensive service (higher volume)
• $1,000-2,000+/month for complex multi-entity or high-transaction businesses

We believe in transparent pricing. Contact us for a free consultation and clear quote based on your actual needs with no surprises.

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Proactive Communication

Your bookkeeper should be a partner, not just a data entry service.

Look for bookkeepers who:

• Explain what they’re doing and why
• Flag unusual transactions or trends
• Provide insights, not just reports
• Answer questions in plain English (not accountant speak)
• Check in regularly, not just when you reach out

After 23 years in business, we’ve learned: The best client relationships are built on education and communication. You should understand your own finances, and we should help you get there.

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5. How Local Centennial Businesses Benefit from Professional Bookkeeping

Real Financial Clarity

What changes when your books are professionally managed:

You can confidently answer questions like:

• What’s my current cash position?
• Am I making money this quarter?
• Which clients are most profitable?
• Can I afford this business expense?
• How much should I set aside for taxes?

Research shows that only 26% of small business owners consider themselves “very knowledgeable” about accounting. Professional bookkeeping bridges that gap without requiring you to become an accountant.

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Better Client Relationships

When your books are current and accurate:

• You can invoice promptly and professionally
• You can follow up on late payments systematically
• You avoid awkward “did you pay me?” conversations
• You can provide clear project cost breakdowns when requested

In Centennial’s professional services market—where reputation and relationships drive business—these details matter significantly.

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Tax Savings and Compliance

Proper bookkeeping ensures:

• Expenses are categorized correctly
• Quarterly estimated taxes are calculated accurately
• Year-end tax prep is smooth (not a scramble)
• According to IRS projections, tax code complexity continues to increase. Professional bookkeeping helps ensure compliance while maximizing deductions because all of your numbers are in order.

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Strategic Growth Support

Clean books enable better business decisions:

Centennial business owners often report that once their books are professionally managed, they:

• Feel more confident making investment decisions
• Hire employees at the right time (not too early or too late)
• Price services more profitably
• Identify which services to expand
• Know when to say no to unprofitable clients

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Time Back in Your Schedule

The average savings: 10-15 hours monthly.

What could you do with an extra 120-180 hours annually?

• Serve 3-5 more clients
• Develop a new service offering
• Improve marketing and business development
• Take actual time off without financial worry
• Focus on strategic planning

For service professionals charging $100-300/hour, this time recapture alone justifies the bookkeeping investment.

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6. Common Bookkeeping Mistakes Service Businesses Make

Mistake #1: Mixing Personal and Business Expenses

Why it happens: When you start your service business, using your personal credit card for occasional business expenses seems harmless.

Why it’s a problem:

• Blurs your actual business profitability
• Creates extra work at tax time
• Risks your liability protection
• Makes expense tracking nearly impossible

The fix: Open dedicated business bank accounts and credit cards. Use them exclusively for business. Pay yourself a regular salary or owner’s draw instead of random withdrawals.

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Mistake #2: Inconsistent Invoicing

The pattern we see:

• You complete work
• Life gets busy
• Invoicing gets delayed
• Client forgets details
• Payment is late or contested

According to research, 45% of SMBs struggle with manual invoice management, and this directly impacts cash flow.

The fix: Invoice immediately upon project completion or on a set schedule. Use QuickBooks automated invoicing features. Set up payment reminders. Make it easy for clients to pay online.

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Mistake #3: Ignoring Accounts Receivable

The “I’ll deal with it later” approach:

• Invoice sent
• 30 days pass
• 60 days pass
• 90 days pass
• By then, collection becomes difficult

Data shows: Collection likelihood drops significantly after 90 days. Without systematic AR tracking, you’re essentially providing free services.

The fix: Weekly AR review. Automated payment reminders. Clear payment terms. Follow-up system at 7, 14, and 30 days overdue.

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Mistake #4: Not Reconciling Regularly

What reconciliation means: Comparing your QuickBooks to your bank and credit card statements to ensure they match.

Why business owners skip it:

• Don’t know they should
• Don’t know how
• Seems tedious

What goes wrong without it:

• Missed transactions
• Duplicate entries
• Bank errors unnoticed
• Fraud uncaught

Industry standard: Reconcile monthly minimum. Weekly is better for active service businesses.

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Mistake #5: DIY Bookkeeping Without Training

The confident beginner approach:

• “I’ll watch some YouTube videos”
• “How hard can QuickBooks be?”
• “I’ll figure it out as I go”

What actually happens:

• Transactions categorized incorrectly
• Chart of Accounts becomes a mess
• Reports don’t make sense
• Tax time reveals mistakes
• CPA charges extra to fix errors

We point out in our article on stopping the guesswork in QuickBooks, that understanding the system properly is critical.

The solution: Either invest in proper QuickBooks training or outsource to professionals. Half-knowledge is more dangerous than no knowledge.

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Mistake #6: Waiting Until Tax Season

The annual scramble:

• January: “I should organize my receipts”
• February: Panic begins
• March: Frantically entering 12 months of data
• April 15: Filing extension because you’re not ready

Why this is costly:

• You miss tax-planning opportunities
• You pay more in taxes than necessary
• Estimated quarterly payments are wrong
• You stress for months
• Your tax preparer charges rush fees

The better approach: Monthly bookkeeping. Quarterly tax reviews. Proactive planning instead of reactive scrambling.

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Mistake #7: Wrong Accounting Method

According to industry research, approximately 20% of businesses use the wrong accounting method for their situation (cash vs. accrual).

For service businesses:

• Cash basis: Records income when received, expenses when paid
• Accrual basis: Records income when earned, expenses when incurred

Why it matters:

• IRS may require accrual if you have inventory or exceed $25M revenue
• Accrual gives a more accurate picture of service business profitability
• Accrual is required for meaningful project-based tracking
• Wrong method = inaccurate reports = bad decisions

Most service businesses should use accrual but many default to cash because it seems simpler.

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7. When to Outsource vs. DIY Your Bookkeeping

DIY Makes Sense When:

✓ Your business is very simple (few transactions monthly)
✓ You genuinely enjoy bookkeeping
✓ You have formal accounting training or extensive QuickBooks experience
✓ Your time isn’t better spent on revenue-generating activities
✓ You’re in early startup phase with tight cash flow
✓ You’re willing to invest in proper training

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Outsourcing Makes Sense When:

✓ You spend 10+ hours monthly on bookkeeping
✓ You’re not confident your books are accurate
✓ You avoid looking at your financials because they’re confusing
✓ Tax time is consistently stressful
✓ You have employees or contractors to manage
✓ Your business has multiple revenue streams or service offerings
✓ You want strategic financial insights, not just data entry
✓ Your billable rate makes DIY bookkeeping expensive

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The Hybrid Approach

Many Centennial service businesses benefit from a combination:

• Professional monthly bookkeeping services
• QuickBooks training so you understand the reports
• Ability to check financials anytime you need
• Professional support for questions and decisions

This gives you both accuracy and understanding without consuming your time.

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Do the Math

Calculate your true cost:

DIY Bookkeeping:

• Your hourly value: $______
• Hours monthly on bookkeeping: ______
• Monthly cost of your time: $______
• Plus: Cost of errors, missed deductions, stress

Professional Bookkeeping:

• Monthly service fee:
• Your time freed up: 10-15 hours
• Value of that time for client work: $______
• Plus: Accuracy, insights, peace of mind

For most service professionals billing $75/hour or more, professional bookkeeping pays for itself immediately.

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8. Your Next Step: Getting Started with Bookkeeping in Centennial

If You’re Starting a New Service Business

Set up correctly from day one:

1. Open business bank accounts and credit cards (separate from personal)
2. Choose QuickBooks (Online for most service businesses; we can help with setup)
3. Set up your Chart of Accounts correctly for your industry
4. Implement job costing or class tracking for project profitability
5. Create invoice and payment systems
6. Decide: monthly DIY with training OR monthly professional bookkeeping

We offer QuickBooks training specifically for Centennial service businesses: In-person at our Lakewood, DTC, or Cherry Creek locations, or remotely.

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If Your Books Are Behind

You’re not alone. Many successful Centennial businesses get behind on bookkeeping.

Our catch-up bookkeeping service:

• We review how far behind you are (3 months? 12 months? Longer?)
• Quote flat-fee cleanup pricing
• Get you current within 2-3 weeks typically
• Set up systems so it doesn’t happen again
• Transition to monthly maintenance

Then you can start fresh with:

• Accurate historical data
• Clean current books
• Clear reports for decision-making
• Confidence in your numbers

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If You’re Switching from DIY to Professional

Common questions we hear:

“Will you judge the mess I’ve made?”
No. We’ve seen it all. No judgment, just solutions.

“Can you fix my mistakes?”
Yes. We can clean up categorization errors, fix reconciliation issues, and get your books accurate.

“Will I still have access to my QuickBooks?”
Absolutely. We work in YOUR QuickBooks file. You have full access anytime.

“What if I have questions?”
We respond quickly (usually same or next business day). Part of our service is education, we want you to understand your finances.

“How does the transition work?”
Simple. We have a consultation, review your current QuickBooks file, identify what needs fixing, provide a clear quote and timeline, and start working.

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If You’re Switching Bookkeepers

Why Centennial businesses switch to us:

• Previous bookkeeper wasn’t responsive
• Needed service-business-specific expertise
• Wanted local training options
• Previous service was too expensive or unclear pricing
• Needed someone who explains things clearly
• Wanted a bookkeeper who provides insights, not just data entry

We make transitions smooth:

• Review current bookkeeping quality
• Identify any immediate issues
• Create transition plan
• Coordinate with your previous bookkeeper if needed
• Get you set up properly

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What Perlinger Consulting Offers Centennial Service Businesses

Our Service Philosophy

After 23 years serving Colorado businesses, we’ve learned:

• Bookkeeping is about helping you understand and grow your business, not just recording transactions
• Every question deserves a clear answer in plain English
• Your time is valuable so we work efficiently and respect your schedule
• Service businesses need specialized expertise
• Local relationships matter

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Our Centennial-Area Services

Monthly Bookkeeping Services:

• Full-service transaction entry and categorization
• Bank and credit card reconciliation
• Accounts Receivable and Accounts Payable management
• Monthly financial reports and review
• QuickBooks file maintenance
• Tax-ready financials
• Unlimited questions and support

QuickBooks Training:

• One-on-one or small group sessions
• Service-business-specific training
• Available at our Lakewood, DTC, or Cherry Creek locations
• Remote training options
• Customized to your business and learning pace
• QuickBooks Online software discounts available

Cleanup and Catch-Up Services:

• Get behind? We’ll get you current.
• Fix categorization errors
• Reconcile months or years of statements
• Prepare accurate historical reports
• Set up systems for going forward

Consultations:

• Free initial consultation to assess your needs
• Hourly consulting for specific questions
• Financial strategy discussions
• Software selection guidance
• Chart of Accounts design

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Why Centennial Businesses Choose Us

✓ 23 years serving Colorado businesses (we understand the local market)
✓ Service-business expertise (we work with consultants, contractors, healthcare providers, professional services, and more)
✓ Three convenient Colorado locations (Lakewood, DTC, Cherry Creek) plus remote options
✓ QuickBooks certified and authorized to offer software discounts
✓ Transparent pricing (clear quotes, no hidden fees)
✓ Responsive communication (we actually answer the phone and emails)
✓ Education-focused (we explain things clearly and help you understand your finances)
✓ Flexible service options (from full-service monthly bookkeeping to training to consultations)

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Frequently Asked Questions

How much does bookkeeping cost in Centennial?

Typical pricing:

• We provide free consultations and clear quotes. No pressure, no surprises.

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Do I need to come to your office, or can you work remotely?

Both options work.

Many Centennial businesses prefer remote bookkeeping:

• We work in your QuickBooks file online
• You send documents via secure upload
• We communicate via email, phone, or video call
• You have full access to reports anytime

In-person options available:

• QuickBooks training at our Lakewood, DTC, or Cherry Creek centers
• Monthly bookkeeping onlinee
• You choose what works best for your schedule and preferences.

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Will I still have access to my QuickBooks?

Yes, absolutely.

We work in YOUR QuickBooks file. You retain full ownership and access. You can log in anytime to:

• Run reports
• Check current financials
• Review transactions
• Send invoices
• Whatever you need

You’re hiring us to maintain your books, not take them over.

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What if I have questions between monthly services?

We’re available for questions anytime.

Part of our service is being responsive:

• Email us your questions (usually answered same or next business day)
• Call during business hours (may be billable depending on complexity)
• Schedule brief video calls for more complex discussions

We don’t charge extra for reasonable questions. We want you to understand your finances.

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Do you work with my accountant at tax time?

Yes, we coordinate with your CPA or tax preparer.

We provide:

• Clean, accurate QuickBooks files
• Year-end financial reports
• Any specific reports your accountant requests
• We’ll communicate directly with them if needed

This makes tax preparation faster and less expensive (your accountant isn’t fixing bookkeeping errors or hunting for missing information).

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What if I’m not in Centennial but nearby?

We serve the entire Denver Metro area and beyond:

• Centennial
• Littleton
• Highlands Ranch
• Denver metro just to name a few areas.
• And remote bookkeeping for businesses anywhere in Colorado

Location doesn’t limit our ability to serve you well.

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For Centennial Service Business Owners

Running a service-based business in Centennial’s competitive professional market requires focus, expertise, and consistent delivery. Your finances should support your business—not distract from it.

Professional bookkeeping gives you:

• Accurate financial information when you need it
• Time back in your schedule for client work
• Confidence in business decisions
• Peace of mind that your finances are handled correctly
• Strategic insights to grow profitably

Take the Next Step

Free Consultation call 720-290-4389 or visit perlingerconsulting.com to book

We start every relationship with a conversation:

• Tell us about your business
• Explain your current bookkeeping situation
• Share your concerns or questions
• Let us assess what you need

📞 Phone: 720-290-4389
📧 Email: [email protected]
🌐 Website: perlingerconsulting.com

We’re Here When You’re Ready!

Serving Centennial, Littleton, Highlands Ranch, Denver Metro, and all of Colorado with remote bookkeeping services.

Disclosure: This article is for education only and not tax, legal, or financial advice. Information can change, so confirm details with official sources and consult a qualified CPA, Enrolled Agent, or attorney for your situation. Perlinger Consulting, Inc. is not responsible for the content of external sites we link to. QuickBooks and Intuit are trademarks of Intuit Inc.; Perlinger Consulting, Inc. is not affiliated with or endorsed by Intuit, though we participate in the QuickBooks ProAdvisor Program.