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The Daily Record honors Bookminders in the 2024 Empowering Women Awards

Bookminders has been recognized as one of only 38 organizations in Maryland honored in The Daily Record’s 2024 Empowering Women Awards.

October 23, 2024: Baltimore, Maryland – Bookminders has been recognized as one of only 38 organizations in Maryland honored in The Daily Record’s 2024 Empowering Women Awards. This prestigious program celebrates companies and organizations that demonstrate a strong commitment to supporting and elevating women in Maryland.

This recognition highlights Bookminders’ enduring dedication to creating opportunities for women in the workplace. From recruitment and promotion to mentorship programs and leadership development, Bookminders has consistently fostered a culture where women can thrive professionally while maintaining balance in their personal lives.

Empowering Women in Maryland and Beyond

The Empowering Women Awards were presented as the culminating event of The Daily Record’s Women’s Leadership Summit on October 22, 2024, at the University of Maryland, Baltimore. Representing Bookminders at the ceremony were CEO Jessica Minkus and Director of Technology and Communications Jennifer Whitmore, both of whom accepted the award on behalf of the company.

Reflecting on this recognition, Minkus commented, “This award is a testament to the incredible culture we’ve built at Bookminders—one that supports and uplifts women at every stage of their careers. We are honored to be part of a program that recognizes organizations making a meaningful impact in the lives of women across Maryland.”

CEO Jessica Minkus and Director of Technology and Communications Jennifer Whitmore accept Bookminders' 2024 Empowering Women Award.

Fostering Flexibility and Professional Growth

For over 30 years, Bookminders has been at the forefront of offering flexible, remote-first work designed to help women achieve a healthy work-life balance. Rooted in excellence and trust, the organization’s core values of flexibility, balance, professional growth, and supported autonomy have set a new standard, enabling women to progress in their careers without sacrificing personal priorities.

Bookminders remains deeply committed to providing avenues for women to grow, lead, and thrive.

Rachel Barkey, an Eastern Maryland accountant whose career with Bookminders spans more than a decade, shared, “Bookminders has given me the flexibility to manage my evolving family responsibilities while continuing to grow professionally. I’m immensely grateful for the support and opportunities this company has provided.”

Client Relations Manager Francoise Wilson, a 21-year employee, added, “Throughout my journey with Bookminders, I’ve been able to grow in my career while managing the needs of my family, thanks to the company’s unwavering support and flexibility. This organization truly empowers women in every sense of the word.”

Dedicated to a Future of Empowerment

With 92% of its over 100 staff members being women, and 100% of its senior leadership team made up of female professionals, Bookminders remains deeply committed to providing avenues for women to grow, lead, and thrive. Through its innovative mentoring programs, professional development opportunities, and flexible work environment, Bookminders continues to set the standard for championing women in the workplace.

As Jessica Minkus noted, “This award is not just a reflection of our past efforts—it’s a call to continue advancing women in our industry and beyond. We are dedicated to creating a future where women are supported, respected, and given every opportunity to succeed.”

Bookminders Expands into Indianapolis, Bringing Excellence and Trust to Outsourced Accounting in the Midwest

Indianapolis, IN, September 23, 2024 – Bookminders, a leader in outsourced accounting solutions, announces its expansion into the Midwest with the opening of Bookminders Indianapolis. As the company celebrates 33 years, it will now offer its trusted, cost-effective bookkeeping services to nonprofit organizations, governmental entities, and small and medium-sized businesses throughout the region.

Clients in the Indianapolis area will benefit from Bookminders’ proprietary accounting platform, which ensures reliable, timely, and cost-effective bookkeeping. Nonprofits will gain access to specialized expertise with services such as advanced grant management, functional expense tracking, and comprehensive board reporting tailored to meet their complex needs.

The Indianapolis expansion is being overseen by CEO Jessica Minkus and Vice President of Business Development Pam Falkner Hartigan. Their leadership, combined with Bookminders’ well-trained team, ensures that clients will receive efficient, top-tier services from experienced accountants.

“As we continue our rapid growth, this expansion reflects our ongoing commitment to delivering flexible, high-quality outsourced accounting services to more nonprofits and businesses than ever before,” said CEO Jessica Minkus. “We’re excited to bring our high-caliber, trusted outsourced accounting services to the region.”

Supporting this expansion are Bookminders’ locally based staff, including Amanda Hines, a seasoned Project Manager residing in Zionsville. With 20 years of accounting experience, including 9 years with Bookminders, Amanda will manage the onboarding of new clients in the region, providing her valuable expertise.

Since its founding in 1991, Bookminders has pioneered remote work for accountants like Amanda, long before these opportunities became mainstream. This employee-centric model allows accountants to enjoy flexible, part-time remote roles without compromising professional growth. The company was recently named the #1 Top Workplace in its founding city, a testament to its commitment to work-life balance.

As in its other markets, Bookminders is excited to build strong relationships in the Indianapolis area. By forming partnerships with local organizations and accounting firms, the company provides unparalleled support and expertise. With the majority of new clients coming through referrals, Bookminders is a trusted partner to public accounting firms. Its Year-End Packages streamline processes for auditors and CPAs, while its policy of offering no competing tax, audit, or consulting services ensures seamless collaboration—further distinguishing Bookminders as a vital ally in the accounting industry.

“Bookminders has built a strong reputation in every market we’ve entered by being driven by excellence and distinguished by trust,” added Pam Falkner Hartigan, Vice President of Business Development. “We look forward to cultivating new relationships and becoming a trusted resource for the Indianapolis community.”

Follow Bookminders on Facebook, LinkedIn, and X for updates and opportunities in Indianapolis and beyond.

Bookminders: 2024’s #1 Pittsburgh Post-Gazette Top Workplace with Jessica Minkus as the #1 Top Leader

September 9, 2024: Pittsburgh, Pennsylvania – Bookminders has achieved an extraordinary milestone, securing 1st place in the small company category of the Pittsburgh Post-Gazette’s 2024 Top Workplaces awards.

Bookminders earned first place and Top Leader award at the PPG's Top Workplaces Award Gala.

This landmark achievement underscores the company’s foundational commitment to creating an outstanding workplace. In addition to the company’s top placement, CEO Jessica Minkus has been awarded the prestigious Leadership Award for the second time in three years, further solidifying her reputation as a leading force in Pittsburgh’s business community.

The Top Workplaces awards are especially significant as they are based entirely on employee ranking and feedback, gathered through a third-party survey conducted by employee engagement technology partner Energage LLC. The confidential and anonymous survey measures critical aspects of the employee experience, including respect, support, empowerment, and growth—all of which are essential for organizational success.

Celebrating the #1 Achievement

For three consecutive years, Bookminders has ranked among the top workplaces, but this year’s #1 placement is a true testament to the company’s dedication to excellence. Employees across the organization have expressed their pride and excitement at reaching the top spot.

“We’ve always known Bookminders is exceptional, but being named #1 really makes that visible to anyone who hasn’t partnered with us,” said Mary Susan Anderson, Director of Operations. “This recognition further highlights the incredible culture we’ve built together and continue to nurture, one in which everyone’s contributions are valued and supported.”

Client Relations Manager Anne Marie Wiegmann notes, “Earning the top spot tonight is an incredible feeling for all of us. It shows that our focus on work-life balance, teamwork, and innovation is felt and appreciated by the entire staff.”

CEO Jessica Minkus, flanked by Directors of Operation Mary Susan Anderson and Lisa Wentz.

Reflecting on this year’s top ranking, Jessica Minkus, CEO of Bookminders, remarked, “Our success is deeply rooted in the incredible culture we’ve cultivated here at Bookminders. This recognition is a celebration of the trust we’ve built, the relationships we’ve nurtured, and the impact we’ve made not only for employees but also with our clients and partners.”

A Culture of Support and Collaboration

Bookminders’ culture is built on a foundation of respect, flexibility, and support. This focus on a positive work environment is consistently reflected in the company’s performance across all culture drivers measured by the survey. Bookminders earned every culture badge available and ranked in the top 1% across key factors like employee appreciation, meaningful work, and strong values.

Bookminders staff celebrate the company's big win at the Awards Gala on September 6th.

Jennifer Krebs, Senior Accountant and Project Manager, shared her thoughts on the company’s culture: “Working at Bookminders for over 20 years… the things I love the most are the flexibility and the collaboration.”

“I really like the work we are doing here,” commented Jennifer Kuenzel, Senior Accountant. “I feel very rewarded from a professional standpoint. The clients really appreciate [us]… and you just feel really good about what you’re accomplishing.”

“Bookminders is the most supportive work environment I’ve ever had,” praises Julie Connolly, Senior Accountant and Team Advisor. “The management team is always there to help with anything. There’s always someone to reach out to.”

“At Bookminders, we don’t just work together—we encourage and uplift each other, which creates a positive and empowering environment,” shares Jennifer Whitmore, Director of Technology and Communications. “It’s this shared devotion to each other and to our clients that truly makes Bookminders a special place to work.”

Driven by Excellence, Distinguished by Trust

Reacting to this year’s top placement and her Leadership Award, Jessica Minkus credited Bookminders’ staff, with special thanks to her all-female leadership team. “This award is a tribute to your unwavering commitment and the culture we have shaped together. You set the bar high, showing that a workplace can provide purpose, connection, and fulfillment. I’m inspired daily by your dedication, innovation, and relentless pursuit of excellence.”

Minkus extended her appreciation to Bookminders’ external team, saying, “Thank you to our hundreds of local nonprofits and small business clients, as well as our partners. Your impact ripples through every corner of our communities. It is an honor to stand with you. We remain dedicated to being driven by excellence and distinguished by trust. These are not just our goals, but the way we have and will continue to do business every day.”

Check out the Post-Gazette’s interactive Top Workplace guide for more insights into the companies making waves in Pittsburgh.

Bookminders leadership team attends PPG 2024 Top Workplaces Gala
Photo provided by Andrew Rush, Pittsburgh Post-Gazette, Insta: @arushphoto, 2024.
Pictured, Left to Right: Director of Business Development, Amy O’Connor; Senior Accountant & Project Manager, Jennifer Krebs; Quality Assurance Manager, Kathy Bacik-Bonetti; Senior Accountant & Team Advisor, Julie Stahl; Senior Accountant & Team Advisor, Maura Rodgers; Director of Operations, Mary Susan Anderson; Senior Accountant & Team Advisor, Julie Connolly; Chief Executive Officer, Jessica Minkus; Founder, Tom Joseph; Director of Operations, Lisa Wentz; Director of Training & Development, Maria Holtz; Client Relations Manager, Anne Marie Wiegmann; Vice President of Business Development, Pamela Falkner Hartigan; Office Manager, Jenna Kelly; Director of Business Development, Melanie Rutan; Director of Technology & Communications, Jennifer Whitmore; Senior Accountant & Team Advisor, Jeanine Finn.

Renewing our Purpose: “Driven by Excellence, Distinguished by Trust”

At Bookminders, we’ve always believed that a strong sense of purpose is the foundation of every successful organization. Today, we’re thrilled to unveil our new purpose statement: “Driven by Excellence, Distinguished by Trust.” This powerful declaration was born from consistent feedback from our clients, partners, and staff, who have recognized our unwavering commitment to excellence and the high level of trust we’ve earned. It captures our shared vision for the future of Bookminders and solidifies our dedication to these core principles.

A Purpose that Reflects Who We Are

Our new purpose statement encapsulates the very essence of Bookminders. It speaks to who we are, what we stand for, and where we are headed. The phrase “Driven by Excellence” represents our unwavering commitment to maintaining the highest standards in everything we do. Whether it’s delivering top-tier financial services to our clients, positioning our referral partners for maximum success, or setting new industry standards in work-life integration, excellence is at the core of our identity.

The second part, “Distinguished by Trust,” highlights the deep sense of reliability and integrity that has been fundamental to our success. Trust is not just something we earn from our clients, partners, or staff; it’s a quality that permeates every level of our organization—from our internal processes to the relationships we build. Trust is what sets us apart, making Bookminders a preferred partner and a respected leader in the accounting industry.

Beyond Words: The Culture Behind the Statement

Excellence is more than an aspiration at Bookminders; it’s a measurable standard we’ve nurtured over the years, validated by staff, clients, and CPA partners. Every aspect of our work is designed to exceed expectations, ensuring that our clients and team members experience the very best we have to offer. In turn, they are driven to achieve a higher level of success than they could have attained on their own.

Similarly, trust is deeply embedded in our organizational DNA. The trust we’ve built with our clients, partners, and within our own teams has been earned through consistency, transparency, and a genuine commitment to doing what’s right. This trust has fueled our reputation, with many of our new opportunities coming through referrals from satisfied clients and partners who have experienced firsthand the difference that Bookminders makes.

The deep trust our staff has that Bookminders is committed to their personal and professional well-being has allowed us to continually expand our team and earned us recognition as one of the best places to work.

Building on Excellence and Trust: Our Next Chapter

We reflect on the core principles that have guided us—our unwavering commitment to innovation, our dedication to providing timely, accurate, and cost-effective services, the trust we’ve earned from CPAs, our industry-leading work culture, and now, our purpose statement that embodies excellence and trust. These pillars tell our story, identifying who we are today and propelling us toward new and exciting opportunities.

Bookminders is now ready to take the next step in our evolution. Something big is on the horizon—a new chapter that will expand our impact and bring the Bookminders difference to more individuals than ever before! Stay tuned as we prepare to unveil this exciting news as our #VisionaryValues series culminates at the end of September. The journey we’ve been on together is just the beginning—what’s next will take us to even greater heights.

Redefining Flexibility: “Where Work-Life Balance Is the Rule, Not the Exception!”

In today’s fast-paced world, achieving work-life balance is more than a perk—it’s essential. At Bookminders, our foundational belief in work-life balance is encapsulated by our tagline, “Where Work-Life Balance Is the Rule, Not the Exception.” This philosophy guides our daily operations and strategic decisions, creating a supportive and flexible work environment that nurtures both personal and professional growth. This #VisionaryValues installment highlights how prioritizing our workforce’s well-being has fueled our growth and set new standards for workplaces in the accounting industry.

Intentionally Creating Space for Women in the Workforce

Creating opportunities for women in accounting was a foundational goal when Bookminders was established. From the outset, our culture was shaped by flexibility and support, designed to foster an environment where women could excel professionally without sacrificing their personal lives. Over the years, we expanded our employee-centric approach even further, providing unmatched work-life integration. Internal bi-annual surveys have repeatedly highlighted these aspects as the top benefits of working at Bookminders, distinguishing our company as a rare exception within the accounting industry. This employee feedback directly inspired our defining tagline: “Where work-life balance is the rule, not the exception!”


Enabling Real Flexibility Through Innovative Practices

At Bookminders, our commitment to work-life excellence is backed by tangible practices that allow our employees to seamlessly integrate their professional responsibilities with their personal lives. We pioneered remote working solutions long before it became a global trend, offering our team the technology, resources, and support needed to work effectively from their home offices.

This adaptability extends to scheduling, giving employees the autonomy to choose their client portfolio and working hours so they can tailor their workdays to fit life’s unpredictable demands. Our bespoke resources and continuous training ensure that each team member can work efficiently while remaining engaged and informed. These initiatives demonstrate our dedication to making work-life integration a practical reality for every member of our team.

Sustaining Engagement and Productivity

We believe in going beyond the basics to nurture our employees. Bookminders’ approach not only facilitates remote work but also enhances job satisfaction and productivity through a deeply ingrained culture of encouragement and inclusivity. The Team Advisors Mentoring program is a prime example of how we foster professional growth and community within our organization. Through this program, new hires and seasoned professionals alike receive guidance, enhancing their skills and fostering a supportive network. Regular virtual check-ins and accessible leadership ensure that each employee feels connected and valued, regardless of their physical location.

Resources like our mentorship program are crucial in maintaining high levels of engagement and motivation across our diverse team, leading to the lowest turnover rates and maximum job satisfaction. Our internal metrics reveal that employees at Bookminders are significantly more likely to stay with the company long-term, citing the supportive culture and genuine flexibility as key factors in their continued commitment to our organization.

Voices from Our Team: Personal Stories of Growth and Balance

Our staff frequently express how Bookminders’ unique work model has significantly improved their quality of life. One team member shared, “Being able to enjoy a truly meaningful career without losing out on time with family is an incredible feeling.” Another notes, “Bookminders has given me a tremendous amount of personal and professional freedom.”

Such comments are common at Bookminders, where the work environment is intentionally designed to support significant life events and daily family dynamics without compromising professional aspirations. One accountant remarked, “The flexibility at Bookminders has allowed me to further develop in my career in a nontraditional way. This isn’t just a job, it’s a lifestyle!” These and the many other employee comments confirm that Bookminders succeeds well in making staff feel appreciated, valued, prioritized, and supported.

A Future Committed to Work-Life Excellence

Our leadership team understands that Bookminders’ approach to work-life balance is a key driver of our success. We are committed to maintaining and enhancing these practices to ensure we continue to be a leader in promoting a healthy work-life dynamic within the accounting industry. As we look to the future, we aim to expand these opportunities, not only to meet the changing needs of our current team but also to continue setting new benchmarks for the industry. At Bookminders, we don’t just adapt to the future; we aim to define it, ensuring our team can thrive in all aspects of life.


Stay with us in the coming weeks as we unveil a new purpose statement and explore the exciting future that lies ahead for Bookminders. Discover how our unwavering commitment to innovation and employee-centric values will shape the next chapter of our journey and continue to set new standards in business! #VisionaryValues

Setting the Gold Standard in Bookkeeping: Recommended by CPAs

As Bookminders continues to set the standard for outsourced accounting, our commitment to maintaining the highest standards has not only benefited our direct clients but has also earned the trust of CPAs. This installment of our #VisionaryValues series explores why CPAs consistently recommend Bookminders as their preferred bookkeeping provider.

Successful organizations partner with trusted advisors and rely on them to provide guidance on important fiscal decisions. After a decade of proving its worth, Bookminders became known in the accounting industry as a top-notch bookkeeping service that complements the work of CPA firms. As our reputation spread, referrals from firms rolled in, leading to the adoption of our second tagline, “Recommended by CPAs.”

Forging A Win-Win Partnership

CPAs are stewards of financial integrity and provide guidance on important financial decisions. Their endorsement of Bookminders stems from our unwavering commitment to timeliness, quality, and reliability.

When CPAs receive financial statements from us, they are confident in the format, the standard of work, and the thoroughness, allowing them to proceed with audits and tax preparations efficiently. This reliability streamlines their processes and maximizes their productivity, enabling them to focus on delivering strategic financial guidance rather than double-checking basic data accuracy.

Why CPAs Partner with Bookminders:

  • Steadfast Quality: Our comprehensive procedures and rigorous quality controls ensure that client financial information is consistent and reliable. Auditors know exactly what to expect, which streamlines their year-end planning process.
  • Expert Team: Bookminders employs a team of degreed, seasoned accountants, many of whom are former CFOs, auditors, and industry specialists. CPAs respect the caliber of our staff as peers and colleagues, ensuring that their clients’ financial affairs are managed by experts.
  • Affordable Excellence: We provide access to top-tier accounting talents at a cost significantly lower than what it would take to hire similarly qualified in-house staff. This affordability makes high-quality bookkeeping accessible to CPAs’ clients, who might otherwise compromise on expertise due to budget constraints.
  • Efficient Year-End Close: Our well-organized, comprehensive year-end packages are highly valued by CPAs. The supporting documents and schedules included in every year-end package tie to the financial statement balances. CPAs can initiate audits and prepare tax returns without unnecessary delays, reducing the burden on both themselves and their clients.
  • Reliability = Productivity: CPAs know they can rely on the accuracy of the information Bookminders provides, thanks to our comprehensive Quality Assurance processes. This reliability means CPAs spend less time verifying data and more time focusing on high-level fiscal strategies for their clients.
  • Staying Ahead: Bookminders consistently remains abreast of changes in standards and rules, such as the latest lease accounting standard, ensuring that CPAs and their clients are always ahead of compliance issues and never playing catch-up. This leads to a client who is always audit-ready.
  • Shared Goals: Bookminders’ commitment to quality and collaboration enhances our services and supports the success CPAs and our mutual clients. We frequently refer new clients to our trusted CPA partners, fostering a network of collaboration and support that benefits everyone.

A Partnership for Success
The mantra “Recommended by CPAs” signifies more than our capability to deliver exceptional service – it represents a partnership built on mutual respect and shared goals. CPAs appreciate not only the quality of our work but also the integrity and foresight that Bookminders brings to every relationship.

Stay tuned next week as our #VisionaryValues series continues. We’ll delve into how our unique approach to work-life balance has set a new standard in the accounting industry.

Best Practices Produce the Best Results: “Timely. Accurate. Cost-Effective”

For over three decades, Bookminders has been a trusted partner to small businesses and nonprofit organizations, offering bookkeeping services that are consistently timely, accurate, and cost-effective. Soon after our founding, a CPA partner commented that, for the first time ever, our service fulfilled all three ideal qualities of a bookkeeping service by being accurate, fast, and affordable. All other services required sacrificing either speed or accuracy to be cost-effective.

As the years progressed, we consistently received similar feedback about our services. As a result, our first tagline evolved naturally and continues to encapsulate the essence of Bookminders’ value proposition, emphasizing the benefits and efficiencies our services bring to a diverse clientele.

Timely

In a dynamic economic environment, timely financial records are crucial for effective decision-making. This was true in 1991 and remains even more so today. From the start, Bookminders adapted and kept pace with best practices in all of its processes and procedures.

Frequent and comprehensive communication ensures clients always know where they stand, enabling them to make informed decisions swiftly. Our staff meets with clients weekly, providing an overall review of financial balances, AR/AP flow, and highlighting any exceptions. By working closely with clients, we craft partnerships that remain ahead of key reporting dates, preventing work from piling up or important deadlines from being missed. Nonprofits are confident board reports will be comprehensive, presented on-time, and crucial funding timelines met.

A Bookminders accountant meeting with her clients

Over Bookminders’ lifetime, technology has grown exponentially, and our remote-first model required us to stay ahead of the curve. Today, our cloud-based platform ensures access to financial data from anywhere our clients are, allowing organizations to monitor their financial health continuously. Automating repetitive tasks reduces errors and increases efficiency, ensuring that the financial package is completed on time, every time

Accurate

Accuracy in financial reporting is paramount to the success of any organization. From the early days, Bookminders developed the right resources and checks and balances required to deliver precise and reliable financials. Our team consists of only degreed and experienced accountants, including former CFOs, auditors, and controllers. They approach each client with a solutions-based mindset, demanding accuracy and resolution to inefficient or problematic processes.

Bookminders uses only proven accounting software that fully meets the needs of all clients and, while we support select application integrations, we never allow those to risk the integrity or accuracy of the file.

At month-end, every staff member audits their work, guided by a group of senior advisors. Our dedicated Quality Assurance team regularly reviews all files in minute detail, verifying all work is error-free and lives up to our high standards.

Ultimately, the audit-ready financials we provide to clients’ tax or auditing firms have been appraised several times over, resulting in minimal audit work, quick turnaround, and lower year-end costs.

Cost-Effective

Efficiency is a cornerstone of Bookminders’ service model. Unlike many other services, our approach drives down clients’ costs while boosting our employees’ compensation. Many organizations struggle with the high expenses and inefficiencies associated with in-house bookkeeping, such as high turnover, extensive training periods, and inconsistent financial reporting. Bookminders addresses these challenges by offering a cost-effective alternative that provides access to the top accounting professionals at a fraction of the cost of hiring in-house staff.

Our proprietary Volumetric Pricing model further enhances cost efficiency by combining the benefits of traditional pricing models while mitigating their drawbacks. This transparent approach bases fees on actual services provided, ensuring clients receive superior value without hidden costs. Our model creates an environment that incentivizes staff to keep client costs as low as possible. As client costs are streamlined and reduced, staff compensation increases, ensuring exceptional service, flexibility, and the lowest possible bookkeeping bill.

The Bookminders Promise

The tagline “Timely. Accurate. Cost-Effective.” is more than just a motto for Bookminders; it embodies a promise to provide exceptional value to our small business and nonprofit clients. By delivering timely updates, ensuring accurate records, and offering cost-effective solutions, Bookminders empowers organizations to focus on their core missions and achieve sustained success.

Join us next week as our #VisionaryValues series explores how our second mantra, “Recommended by CPAs” came to be. We’ll review how Bookminders became the premier partner to auditors seeking the most efficient, reliable bookkeeping partner for their clients while maximizing their own productivity.

Bookminders: From Concept to Trailblazer

At Bookminders, we’re not just about numbers; we’re about setting benchmarks and shaping futures. This Newsminders series, #VisionaryValues, explores our evolution over the last several decades to redefine outsourced accounting standards.

Forty years ago, our founder Tom Joseph launched Steele Financial Services, the precursor to Bookminders. Steele Financial Services was designed not only to solve a problem but to innovatively use technology to complement the life of its target employee – a college educated woman needing flexibility for her family. This laid the groundwork for what would become Bookminders, a pioneering concept that remains integral to our identity today.

Visionary Values

Iterating into Bookminders

In 1984, the Joseph’s family business lost their bookkeeper. Tom, who had early exposure to Apple computers in his job at Westinghouse, bought an Apple IIc computer along with accounting software and formed Steele Financial Services. The original idea of having his uncle run the system was a failure, but Tom’s sister Diane was able to grasp the new technology and agreed to take on the role if she could work primarily from home. Tom and Diane transformed a lengthy process into one that took only a few hours, completed mostly from her home office. In an era before the internet, this was a radical concept. Despite this initial success, the idea was not scalable given the lack of internet infrastructure and led to the closure of Steele Financial Services.

Bookminders Logo overlaying the City of Pittsburgh

Over the next seven years, Tom continued his career in factory automation, but the idea of Bookminders was never far from mind. A 60 Minutes segment featuring a manufacturing company that was highly successful using a piece-meal compensation model inspired him to think that a similar model could be used for his “bookminders.” He envisioned an environment that would leverage technology to offer meaningful, part-time accounting roles for women seeking an alternative to traditional full-time office jobs, all while providing affordable, high-quality bookkeeping for small businesses.

When Tom launched Bookminders in 1991, he enlisted the help of Diane’s twin sister, Lynne. Their first client, an architect in Shadyside, PA, was fortunately demanding and forced many refinements, which greatly improved the ease of navigating the financials. This commitment to continuous improvement became the foundation for Bookminders’ Quality Assurance program which attracted auditors eager to position their clients for success.

During a meeting with one such firm, a partner remarked that Bookminders’ approach sounded like the wave of the future. Tom replied, “We’re going to make it the wave of the present!” The employee-first focus, unique compensation model, timely and cost-effective financials, and commitment to quality poised the company for considerable growth over the next several decades, proving Tom’s vision correct.

Siblings Tom Joseph and Lynne Schaefer

An Innovative Concept Produces Continual, Sustainable Growth

In the decades that followed its founding, Bookminders expanded dramatically but sustainably. By consistently adopting and integrating cutting-edge technologies, Bookminders evolved from using floppy discs and a shared email account in the 90s to perfecting remote access with its customized, cloud-based platform. Recognized early on as one of Pittsburgh’s Fastest Growing Private Companies and a champion for home-based workers, the company set a new bar for work-life balance expectations in Pittsburgh’s accounting community.

Bookminders  strong, employee-centric culture and remote opportunities attracted an influx of staff.

A focus on building resources tailored to non-profits and small to mid-size businesses, along with the opening of the Philadelphia office in 2006, led to Bookminders’ emergence as the premier outsourced bookkeeping service in Pennsylvania. Over the next decade, its innovative concept and in-demand services resulted in the launch of two additional locations: Southern New Jersey and Eastern Maryland. The strong, employee-centric culture and remote opportunities attracted an influx of staff. Finally, with an abundance of resources and growing demand, Bookminders expanded its footprint beyond the Eastern United States with a Central Texas location in 2022.

Beyond Taglines – Artifacts of Culture

With a solid workplace culture built around meeting the needs of our primarily female workforce, and high demand driven by innovation, excellence, and affordability, Bookminders has largely grown through word-of-mouth. This referral-based growth strategy has led to the use of only three key statements over the years that summarize our culture and value position:

  • Timely. Accurate. Cost-Effective.
  • Recommended by CPAs.
  • Where Work-Life Balance is the Rule, not the Exception!

These mantras are more than marketing phrases; they are descriptions of Bookminders’ philosophy and direct feedback from clients and referral partners. Over the next few weeks, our #VisionaryValues series will explore each in detail. Finally, we’ll conclude with a forward-looking purpose statement and exciting news about what’s next for Bookminders!

*Black & White Image: Siblings Tom Joseph and Lynne Schaefer, first published in Allegheny Business News, “Bookminders Filling Small Business Bookkeeping Niche”, February 1994, Vol. 9. No. 2

Starting Fresh with Bookminders

In today’s fast-paced economic environment, accurate and timely financial records are essential for success. However, many organizations face challenges in maintaining these records due to the high cost of in-house bookkeeping. High turnover, extensive training periods, lack of financial expertise, and limited or inconsistent financial reporting are common issues that drain resources. Bookminders addresses these issues through reliable, accurate, and efficient accounting services. Our approach provides organizations with a fresh start, eliminating turnover, training, and supervision concerns.

Our Comprehensive Review Process

Bookminders begins with an evaluation of the accounting system for improvements in design, opportunities to increase efficiency, and identification of internal control weaknesses. We offer recommendations and collaborate with organizations to implement the most effective financial processes.

Leveraging Advanced Accounting Software

Bookminders tailors the accounting system to meet the needs of organizations in a cloud-based environment. Our resources offer flexibility, scalability, and accessibility from anywhere within the United States. We customize your financial system to reflect the entity structure and reporting requirements, ensuring thorough and accurate financial reporting. In addition, our account representatives provide training on how to access this information in a safe, secure environment.

Enhanced Checks and Balances

Our services have built-in segregation of duties that provide additional checks and balances. There are regular reconciliations, workflow approval processes, and extensive weekly and month-end checklists. Through a collaborative effort with each organization, we provide continuous monitoring and periodic quality assurance reviews to further ensure the accuracy and integrity of the financial data.

Automating and Streamlining Processes

We automate repetitive tasks like invoicing, bill payments, and bank reconciliations, which reduces manual errors and increases efficiency. Optimizing processes results in accurate and up-to-date financial records. This process includes reviewing original source documentation, enabling our accountants to verify that your transactions are coded properly.  

Effective Cash Flow Management

Effective cash flow management is essential for high organizational performance. We monitor cash flow weekly and provide reports for key balances, bills that will be paid, and upcoming bank activity. We can prepare cash forecasts and flows on a weekly or monthly basis.  At the close of each month, we provide a written analysis explaining variances.

Continuous Improvement and Professional Support

At Bookminders, continuous improvement is part of our DNA. We regularly review and enhance the accounting processes and systems, ensuring they remain effective and aligned with the organizations’ objectives. By soliciting feedback directly from each client, we identify areas for improvement and implement necessary changes to maintain the highest standards of accuracy and efficiency.

Engaging U.S.-based professional support is another advantage of working with Bookminders. Our employees consist of experienced, degreed accountants who provide expertise and guidance on complex accounting matters. This enhances the quality and reliability of financial management.

A Fresh Start for Long-Term Success

Starting fresh with Bookminders offers a structured, reliable, and efficient approach to managing your accounting needs. Our holistic approach addresses immediate concerns and sets the foundation for long-term success. Contact us to discuss the transformative benefits of expert bookkeeping support that positions organizations for sustained success and growth.

Transforming Accounting with Transparent Billing: Leveraging Volumetric Pricing

Client happy that Volumetric Pricing ensures she receives the highest quality services at the lowest possible cost.

Improving on Traditional Accounting Pricing Models

In the accounting industry, various pricing structures cater to diverse client needs and service types. Here, we explore the three most common models: Hourly Billing, Fixed Fee Pricing, and Value-Based Pricing, along with the pros and cons of each model. Finally, we introduce Bookminders’ proprietary Volumetric Pricing, a transparency-grounded model that ensures clients receive the highest quality services at the lowest possible cost.

Hourly Billing is a traditional pricing model where clients are charged based on the amount of time the accountant spends on their tasks. Benefits of this model include easy-to-understand invoices and the ability to set a clear budget cap. However, costs under this model can be unpredictable, hourly rates for top talent can be steep, and the structure can incentivize longer work hours instead of efficiency and productivity.

Fixed Fee Pricing, which involves charging clients a predetermined fee for a specific service or set of services regardless of the time it takes to complete, has several variations including retainers or subscription services and project-based pricing. This model should encourage efficiency since the fee is independent of the time it will take, however, scope creep and the potential for underpricing can result in higher overall costs for the client. Service providers may be forced to build in additional costs to cover unknowns or limit services.

Value-Based Pricing is a hot topic in the industry but not necessarily for the right reasons. This model allows service providers to set fees based on the perceived value to the client rather than the actual costs and required markup. While this can be lucrative for providers, increasing revenue potential and allowing pricing flexibility per client, there are significant drawbacks for clients. The perceived value can vary greatly between providers, making it difficult for clients to compare and assess the best value. This model requires clients to trust that providers price fairly across their client base without overly emphasizing profit.

Revolutionizing Billing with Volumetric Pricing

At Bookminders, we strongly believe that transparency and fairness in billing are paramount in all accounting services. Given the significant cons to clients of subscribing solely to hourly or fixed fee pricing, we’ve redefined the standard with our innovative approach that leverages the pros of traditional models while mitigating the drawbacks – Volumetric Pricing. Our clients attest that this method is not just transparent but also the fairest way to pay for the services they receive.

Bookminders accountants strongly believe that transparency and fairness in billing are paramount in all accounting services.

Volumetric Pricing is based on the actual services provided and leverages a carefully designed mix of hourly, fixed-fees, and transactional pricing. This approach allows us to deliver superior, cost-effective services and avoid the inefficiencies and hidden costs of relying solely on traditional models.
We delve deeply to build a comprehensive understanding of the client’s financial landscape. We meticulously analyze reports and statements spanning multiple months to quantify the average number of transactions and their complexity. This data forms the foundation of our monthly fee estimate, ensuring that it is based on concrete metrics rather than guesstimates.

While understanding how an organization’s operating activities affect its transaction count is crucial, some essential activities cannot be directly quantified in this way. These include month-end reconciliation of bank accounts, management oversight, software licensing, and IT support. To best support these types of activities, we apply fixed fees, ensuring that these vital services are accounted for without ambiguity.

Furthermore, certain specialized services may not apply to all organizations and cannot be categorized by transaction count or through fixed fees. For these, hourly fees are the most appropriate. Examples of activities billed hourly include researching, grant management, payroll service submissions, and expense allocations. This type of billing is our least preferred, so we continually streamline our services to provide maximum value to clients without sacrificing service.

Bookminders' Volumetric Pricing ensures clients regularly receive far more value than what they are paying for.

The significant benefits of Volumetric Pricing—transparency, fairness, cost-efficiency, service excellence, predictability, and flexibility—make it worth the initial time it takes for Bookminders to complete the client business analysis and for our clients to be educated on this billing method. Through a blended approach tailored to each organization’s activities, Volumetric Pricing ensures clients regularly receive far more value than what they are paying for.