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MyBooks: CPA-created service for small biz

Mon, Jul 5th 2010 12:00 am
By ALLISSA KLINE
akline@bizjournals.com | 716-541-1612

Small businesses can't always afford to hire full-time financial gurus. But that doesn't mean they shouldn't have access to basic accounting services.

That's the thinking behind MyBooks LLC, an accounting-services company formed this year for small businesses in need of bookkeeping, payroll and accounting consulting assistance. It is the creation of certified public accountants Daniel Tirone and Beth Downing, who have been in business together on and off since 1988.

"We will be the complete accounting back office, if you want it," Tirone said. "Our vision is to be the small-business solution."

So far, the pair say they have snagged 22 Western New York-based clients from various industries such as agriculture, technology and energy. They collect monthly fees from clients based on the amount of time they work for each. They mostly work with companies generating $5 million or less in annual revenues and said they hope to seek out dentists, doctors, contractors and fire districts as potential clients.

"We really saw a need for this," Downing said. "There are a lot of CPA firms, but not many specialize in bookkeeping."

She and Tirone began working together when Tirone, a sole practitioner since 1981, hired Downing as a bookkeeper and receptionist. She worked for him for 12 years, during which she earned her CPA license and became CPA manager. The firm did mostly government work.

Both eventually stepped away from the public accounting firm. Downing worked for seven years as administrator and treasurer for the Village of Alden. Tirone continued with the sole proprietorship until 2004. In 2007, the two were part of a three-person team that bought a local cohesive tape manufacturing company, which they sold last fall.

Today they are focused on MyBooks. They keep an office in West Seneca's Southgate Plaza and employ a bookkeeper and marketer. They expect to soon hire a second bookkeeper.

To date, three traditional CPA firms have referred clients who need help with bookkeeping systems. Eventually, they plan to open additional offices in New York and surrounding states.

"Our expectation is to be significantly larger," Tirone said. "We want multiple locations in multiple cities."