Our Services

A new kind of financial freedom.

You just returned from a 10-day business trip. You’re exhausted, jet-lagged and very glad to be home. You’re anxious to see the family and unwind. On the table in the entryway sits your monthly envelope from My Accountant, Inc. You open it to find all your bills reviewed, categorized and paid. Breathing a sigh of relief, you head upstairs to reconnect with family.

My Accountant Bill Payment Service is designed for people like you — working long hours, traveling several weeks every month, with heavy responsibilities both at work and at home. We can make payments out of a dedicated bank account, which only we use and which is funded by you. Or we can work from an existing client account. It’s up to you.

While most services simply pay whatever they receive, our professionals review everything prior to paying it. If a bill or invoice varies by a set amount from the norm, we contact the vendor or the client to verify it before making a payment.

Finally, clients have the option to receive the paid bills back at the end of each month, or have us store them. We scan all invoices as they are received, so a copy is always available.

  • Direct receipt of bills and invoices
  • Review of past-due balances
  • Writing the monthly checks
  • Making electronic payments
  • Bank account reconciliation
  • Detailed month-end transaction reports
  • Quarterly and annual summaries of all payments

Delegate the tasks, gain the clarity.

You’re preparing for another meeting with your financial advisors. This time they want to do some financial projections, to help you decide when you can retire, or even if you can retire. This is important stuff, the culmination of a lifetime of working and saving. Fortunately, you will be taking with you a set of cash flow reports from My Accountant showing what you’ve been spending over the past several years and how you have been spending it. These will form the basis for your discussions with the advisors.

Your advisors have a pretty good idea of your assets, but you are bringing to the meeting one of the crucial missing pieces – three years of spending reports prepared by My Accountant, Inc.

Our Personal Bookkeeping Service is the next step beyond the Bill Payment Service. It brings in your other spending, including checks and debit card charges from your personal account, your credit card transactions (every transaction, not just the monthly total), and any other payment amounts you may have.

This allows our company to generate consolidated cash flow information, the kind of information that is invaluable to financial advisors, and very difficult to obtain. As the basis of all your projections, it will allow you to make concrete financial decisions.

  • Recording all payments we have made on your behalf
  • Posting any checks you have written from the personal account
  • Recording charitable contributions, gifting, and other tax items
  • Downloading and categorizing all credit card transactions
  • Coordination with tax accountants and other financial advisors
  • Detailed month-end transaction reports
  • Quarterly and annual cash flow reporting and summaries of all payments
Bill-Payment-DIVIDER_Services

What makes bookkeeping so much more valuable than simple bill payment is information. Information that is generally scattered across multiple accounts, multiple financial institutions, and even distinct physical locations. Our Personal Bookkeeping Service aggregates that information into one set of comprehensive books.

Here’s a simple question: How much did you spend last year? What do you think you spent on travel? Clothing? Restaurants? How much did you contribute to charity, or pay in estimated taxes? How much do you think it costs to maintain a home in Palm Beach? How about Aspen, or Manhattan?

Turns out it’s not as simple as it seems. Complex financial lives have complex spending patterns, histories, and reporting requirements. Get the insight you need with our comprehensive cash flow reporting.

Reporting Comparison,
by Service Level

If you are missing account detail (often in the form of credit card transactions), you are missing valuable information. In some cases as much as 27% of spending goes on credit cards.

Comparison of Annual Controllable Expenses
vs. Annual Discretionary Expenses (USD $)

  • Total Controllable Expenses (USD $)
  • Total Discretionary Expenses (USD $)

When reviewing expenses for opportunities to save money, discretionary spending is often the first place to look. Unlike controllable expenses, which are “necessary,” discretionary expenses can more easily be reduced or eliminated.

In addition to bill payment and bookkeeping, there are other financial tasks which often have to be dealt with. You may have a live-in nanny to help with the children; you may have set up a life insurance trust that requires special handling; you may be overwhelmed by medical bills that need to be sent to insurance, etc. Recognizing the need to deal with these and other related financial matters, we offer concierge services in conjunction with our core bill payment services.

Domestic Payroll Services

We can assist with domestic payroll needs: we make the salary payments via direct deposit into the employee’s bank account and take care of all the paperwork as well: W-2s, quarterly tax filing, year-end tax reports, and coordination with the client’s tax accountant. This may be done internally or through a partner firm.

Domestic Payroll Services

Irrevocable Life Insurance (ILIT) Administration

We have a service to help clients stay compliant with the Irrevocable Life Insurance Trust (ILIT) regulations. These include establishment of a bank account for the trust, overseeing the funding of the account, sending the Crummey notices, paying the premiums, and recording all trust activity.

Irrevocable Life Insurance (ILIT) Administration

Customized Reporting

Clients occasionally have a need to access special financial reports. These might include “basis reports” showing money spent on capital improvements on a home, investments in an art collection, etc. Others include preparing multi-year spending summaries to be used to calculate budgets or investment amounts. These and other reports are available as needed by clients, and the cost is based upon the time required.

Customized Reporting

Medical Claims Processing

In conjunction with another firm, Medical Bill Advocate, LLC, with which we have been working for over fifteen years, we can assist clients with their health insurance claims. The client sends the medical bills to us or directly to MBA to process, and they are returned to us after all claims are processed and we make the final payments.

Medical Claims Processing

Non-Resident Property Owners

As a subset of our bill payment and bookkeeping services, we can assist non-resident owners of U.S. properties with their financial matters. Assuming the property is owned by an LLC, we can establish a bank account for the property, receive invoices and make all the required payments for the property. We can also coordinate with the attorneys and tax accountants to assure proper compliance with the tax laws.

Non-Resident Property Owners

Statement of Assets

When a life changing event such as death or divorce takes place, it’s very important to know where all the financial assets are. We can help provide the answer through a service which records balances in all of a client's investment and bank accounts from copies of printed statements or online access.

Statement of Assets

Document Storage

Through an arrangement we have with a specialty firm, we can arrange for storage of original documents, including bills, insurance policies, etc., with easy retrieval as needed. Many clients avail themselves of this service rather than having all the original paid bills returned to their home.

Document Storage

Are you interested in working with us?

Call us at 800-648-5369 or email info@myaccountant.com
Download Our Client Questionnaire