
Frequently Asked Questions
FAQs
-
We are based out of Orlando FL, but we accept clients from all over the US!
-
Yes. We use a number of online tools so that all aspects of our work can be done remotely.
-
Yes. Although we are familiar with other systems, such as QuickBooks Desktop, using QuickBooks Online is the best way to make sure that we are getting updated information in real time, allowing us to quickly produce very accurate reports.
-
Although the lines can be blurred, there are differences between the two professions. The fundamental difference is that an accountant will generally focus on the presentation and interpretation of data, whereas a bookkeeper will manage, organize, update, and act on data. Accountants answer questions like, "Can I write such and such expense off on my taxes" or "How much fixed asset depreciation should I record for this year?". Bookkeepers will generally answer questions like, "How are our expenses for the year comparing to our budget?" and "Do we have enough money in the bank account to run payroll next week and avoid overdraft fees?".
-
To file federal tax returns on someone's behalf, it is required to have an IRS Preparer Tax Identification Number (PTIN). I do not have this authorization and thus can not file federal tax returns.
-
There are plenty of benefits to having a bookkeeper in-house for your business. However, it is extremely costly. Not only do you pay for the bookkeeper's salary, but you also pay worker's compensation insurance premiums, unemployment tax, and a host of other fees. Hiring an outside firm allows you to get professional quality bookkeeping services for a fraction of the cost it would take to hire someone inhouse.