Bookkeeping & Tax FAQs for RI Small Businesses

• Record financial transactions
• Reconcile bank accounts
• Manage bank feeds
• Handle accounts receivable
• Handle accounts payable
• Work with your tax preparer & assist with tax compliance
• Prepare financial statements
• Make technology & process streamlining recommendations

We use read-only access to your bank statements for reconciliation purposes, meaning we can view transactions but can never touch or move your money.

TradePoint CFOs Can do your taxes personal 1040 and small business taxes 1040 with a schedule c and your RI 1065 for your LLC

• Cost-Effective: No need to pay for office space, on-site visits, or full-time wages. You only pay for the services you need.
• Real-Time Access: With cloud accounting, you and your bookkeeper can view your finances at the same time, anytime, anywhere.
• More Expertise, Less Overhead: Many virtual bookkeepers specialize in certain industries and offer a wider skill set than local-only providers. You get professional-grade service without the big-business price tag.

Yes, we would be happy to train you in keeping your own bookkeeping records & the processes that are involved in doing so.

We provide reliable, cloud-based bookkeeping tailored to trades and small businesses, with clear advice, personal service, and a focus on helping you grow.

• A quick consultation to learn if we will be a good fit for each other’s business.
• An assessment of your bookkeeping needs.
• A signed Proposal / Engagement Letter before we start work.
• A copy of the previous Tax year information.
• Your EIN (employer identification number / Tax ID number)
• An active Quickbooks online subscription. If you don’t have one, we can get you setup.
• An Accountant invitation access to your Quickbooks Online.

Bookkeeping for your small business is tailored to your needs, with flexible pricing based on the size and complexity of your accounts—so you only pay for what you need.

A fractional CFO provides strategic financial leadership without the full-time price tag. Core responsibilities include:

• Reviewing monthly financial statements for accuracy and strategic insight
• Building and maintaining 13-week rolling cash flow forecasts
• Tracking key performance indicators (KPIs) that drive your business
• Pricing analysis and margin optimization
• Preparing financial packages for lenders, investors, or acquirers
• Vendor renegotiation and cost reduction analysis
• Hiring decision modeling — what will this hire actually cost vs. produce?
• Monthly strategy sessions with the founder to interpret what the numbers mean

For a detailed walkthrough of what this looks like week by week, read our breakdown of what a fractional CFO actually does day-in, day-out, or see our full CFO advisory services in Rhode Island.

Most small businesses benefit from a fractional CFO when they hit one or more of these milestones:

• Annual revenue between $500K and $2M — the range where the questions get harder than a bookkeeper can answer
• Multiple revenue streams or product lines where margin analysis matters
• Considering a major decision: raising capital, taking on debt, hiring a high-cost role, or selling the business
• Cash flow tightness that needs proactive 6-to-8-week forecasting
• Owner is making pricing or growth decisions on gut feel instead of numbers
• Recent audit, lender denial, or surprise tax bill that exposed weak financials

If any of those describe your business, see our complete list of 7 signs your small business needs a fractional CFO. Most owners wait too long and pay for it later in missed opportunities.

Same expertise level. Different commitment and cost.

• A full-time CFO costs $180K to $350K per year fully loaded (salary, benefits, equity), works exclusively for one company, and is usually justified only at $2M+ in annual revenue.
• A fractional CFO costs $1,500 to $5,000 per month, meets with you once a month to set new targets and monitor progress, and provides the same strategic-level analysis.

For most growing small businesses between $500K and $2M in revenue, fractional CFO is the cost-effective choice. Learn more about our approach on the CFO advisor services page.

Different roles, complementary services.

• A CPA prepares your tax return and provides tax planning advice. Their focus is compliance and minimizing your tax burden within the law.
• A fractional CFO interprets your financial data strategically. Their focus is forward-looking decisions: pricing, hiring, cash flow, capital structure, lender packages, vendor negotiations.

You generally need both. Most small businesses use a CPA annually for taxes and a fractional CFO monthly for ongoing strategic guidance. We coordinate with your existing CPA so the two functions reinforce each other rather than duplicate work.

If you’re trying to decide what kind of help you need, our guide on how to find a good bookkeeper in Rhode Island walks through how bookkeepers, CPAs, and CFOs differ and which combination fits your stage.

Tradepoint CFO advisory engagements start at $1,500 per month and scale with the complexity of your business.

What drives pricing:

• Complexity of your revenue streams (multiple product lines, multi-state operations, inventory)
• Whether you need lender or investor prep work layered in
• Whether industry-specific analysis applies (construction job costing, healthcare reconciliation, professional services project profitability)

For comparison, hiring a part-time controller or in-house finance manager typically costs $80K to $130K per year fully loaded — fractional CFO delivers comparable strategic capacity at a fraction of the cost.

We quote fixed monthly rates after a free discovery call so you know exactly what you’re paying. See full details on our CFO advisory services page.

Every Tradepoint CFO advisory engagement includes:

• A 13-week rolling cash flow forecast, updated monthly
• Monthly review of P&L and balance sheet with one-page executive summary
• KPI dashboard tailored to your business (margin trends, cash conversion cycle, customer acquisition cost — whatever drives your numbers)
• Monthly 60-to-90-minute strategy session with the founder
• Ad-hoc support for one-off decisions (pricing analysis, vendor renegotiation, hiring model, lender prep)
• Coordination with your CPA at year-end and for quarterly tax planning
• Industry-specific analysis where relevant (job costing for contractors, insurance reconciliation for healthcare, project profitability for professional services)

Cleanup work on your existing books, if needed before the strategic work can start, is quoted separately. See our guide on catch-up bookkeeping for what that process looks like.

Yes, and this is the most common path our clients take. A typical engagement evolves like this:

• Month 1 to 3: We get your books cleaned up and on a clean monthly close cadence
• Month 4 to 6: You see what good financial data feels like and start asking strategic questions (pricing, margin, cash flow)
• Month 7 forward: We layer CFO advisory on top (cash flow forecasting, monthly strategy sessions, KPI dashboards)

You don’t need to commit to CFO advisory on day one. We’re built for the businesses that grow into it. Start with whatever level of help you need now, and scale up as your business gets more complex.

To get started, book a free 30-minute discovery call and we’ll map out which level of service fits your stage.