PRICING & PLAN

Bookkeeping is primarily concerned with recording financial transactions and events, such as sales, purchases, receipts, and payments, in a systematic and organized manner in a way that makes it easy to access and understand financial information

Accounting, on the other hand, involves analyzing, interpreting, and summarizing financial data and providing insights and recommendations to support decision-making. Accounting requires a deeper understanding of financial statements, financial analysis, budgeting, and tax compliance. Accountants use financial information produced by bookkeepers to provide financial advice to businesses and individuals.

The process starts with a bookkeeper recording and organizing financial data, then the accountant uses that data to analyze and produce reports whether for tax purposes, management or financial reporting. Though roles can overlap, this is the basic process and no accounting can be done without bookkeeping.

A tax preparer is a professional who helps individuals and businesses prepare and file their tax returns and may also provide tax planning advice. They are responsible for ensuring that their clients’ tax returns are accurate, complete, and filed on time while complying with all relevant tax laws and regulations. Tax preparers can work independently or as part of an accounting or tax preparation firm.

While there can be some overlap in the services provided by bookkeepers, accountants, tax preparers, and CPAs, these are the main roles between each of them:

Raw data -> Processed —> Analyze & Interpret -> Reports -> Tax Filing —> Auditing

Yes you are free to do your own bookkeeping using some self-service accounting software (Quickbooks, Xero) or spreadsheet software (Excel, Google Sheets). Just keep in mind that without guidance from an expert, you might process the data incorrectly and create inaccurate reporting to tax agencies, lenders and investors. This might also create false conclusions that lead to poor decision making in your business. There is a concept common to mathematics and computer science called GIGO (garbage in,garbage out) which means that the quality of output is determined by the quality of the input. Starting with keeping the books accurate ensure that the rest of the accounting process are prepared correctly.

For individual taxpayers in the United States, federal income tax returns are typically filed once a year, usually by April 15th of the following year. However, if an individual earns income that is not subject to withholding, such as self-employment income or investment income, they may need to make quarterly estimated tax payments throughout the year and file an annual tax return.

For businesses in the United States, there are monthly, quarterly and annual tax obligations. The frequency of tax filings can depend on several factors, including the type of business entity, amount of revenue, whether you have employees and if you are a product or service company. It’s important for individuals and business owners to understand their specific tax obligations and consult with an accountant or tax professional for guidance.

Yes, bookkeeping is foundational to ensure accurate and up-to-date financial records for tax, financial and management reporting. Proper bookkeeping can help make tax filing easier and prevent potential issues with the tax authorities. Plus, you might save more money when you are able to accurately categorize all tax deductible expenses and end up maximizing tax savings.

If you haven’t done any proper bookkeeping for your business, you’ll need to play catch up and go through all the past financial transactions since you started your business. You can begin by gathering all of your financial documents and organizing them by category, such as income, expenses, assets, and liabilities. Then, you can choose a bookkeeping method, such as using accounting software or hiring a bookkeeper, and start recording your financial transactions regularly. If you’re not sure where to start or need additional guidance, consider consulting with a tax professional or accountant for help.

When you are past the tax deadline, you may face penalties and interest charges for filing your taxes late and get that horrifying letter from the IRS about all the back taxes you owe. The specific penalties and charges for filing your taxes late can vary depending on your location and circumstances, but they generally increase the longer you wait to file. It’s important to address the issue as soon as possible to minimize any potential penalties and prevent the problem from becoming more severe.

The important tax deadlines for your business can vary depending on your location and business type, but some common ones include the deadline for estimated quarterly tax payments, the deadline for filing and paying income taxes, and the deadline for issuing and filing W-2 and 1099 forms. It’s important to consult with a tax professional or accountant to determine the specific deadlines that apply to your business and ensure that you meet them to avoid penalties and fees.

If you haven’t done so, you’ll need to complete our 10-question assessment to ensure that we’re a suitable partner for your accounting needs. If everything checks out, you’ll have access to our calendar to schedule a free initial consultation. Simply enter your full name, email address, and phone number, and we’ll call you at the date and time you choose.

The initial 1-hour consultation is free of charge because we want to make sure we address all of your needs so that you feel confident before starting with us.

After the initial call, you’ll receive a ‘Get Started’ email with a link to review and sign up for our services, should you decide to work with us. The link will include an agreement that needs to be signed and a payment to be made with our secured payment provider Stripe, then proceed to create an account on our website to access all of your data, reports, and calendar, as well as update or change your subscription.

The most suitable package for your business will depend on your budget and how much involvement you want in managing your back-end operations. It will be open for discussion during the initial consultation to determine the best package for you.

At Accountantsimple, we want you to be completely satisfied with our online accounting services. That’s why we offer a 30-day satisfaction guarantee – if for any reason you’re not satisfied with our service, you can request a refund of the prorated balance. We’re dedicated to providing you with the highest level of quality and service, and we stand behind our work.

Once you are signed up to our services, you can either text, email or make an appointment via the calendar in your online account.

We take your privacy and data security very seriously. All client data is stored on secure servers and is encrypted to ensure the highest level of protection. We employ strict access controls and monitoring procedures to safeguard your information, and all our staff members are trained to handle your data with care and confidentiality.

Quickbooks is a self-service bookkeeping software, while AccountantSimple is a full-service accounting firm. We integrate our bookkeeping service with Quickbooks and use that processed data to produce reports separately, whether for tax, financial or management reporting.

Yes and we highly recommend it because Quickbooks has a strong network effect due to its widespread adoption by millions of businesses and accounting firms. This makes it easier to integrate other third-party service providers, such as payment processors, payroll services, tax software, and bill pay services, to Quickbooks.
Additionally, if your business grows in size over time and requires a more robust enterprise-level accounting solution, it’s easier to transition from Quickbooks to an enterprise solution like Netsuite.