Monthly Bookkeeping
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Frequently Asked Questions
No limit. It can be about a new tax code, a letter from the IRS, how you should incorporate your business or advice on the right way to maximize deductions or reduce your taxes. ProfitYO’s CPA partner will usually get back to you in one business day.
Yes, you can use our platform to communicate directly with our CPA or an Enrolled Agent (EA), whom we have assigned to you. You can then communicate with your EA/CPA to create your strategic planning for reducing taxes. Your bookkeeper will receive direct guidance from a team leader and your CPA/EA.
Unfortunately, we don’t service non-profit organizations.
The plan includes personal and corporate filing. Our CPA/EA can file your personal and corporate return. However, if you have more than one shareholder or a company, please click here and schedule a call. We will customize your accounting plan for you.
Yes, we do. We are a public accounting firm. We will take care of both your bookkeeping and tax filing for both your personal and corporate returns.
Absolutely. Once you have access to ProfitYO’s platform, you can authorize your accountant to communicate with us directly. Your accountant can then communicate directly with our bookkeeper team leader for any request via in-app messaging or requesting a scheduled call.
Having updated books allows you to maximize deductions. It enables you to see your business’s health, expenses and profit for each month.
When you don’t have a clear picture of your financial health, you end up paying too much on your taxes. For example, say by the end of November, you have a net profit of $50,000. If you have updated books, you can reduce your taxes by buying inventory for your ecommerce business or computer equipment ahead of time. If you don’t have the books correct, you may end up paying taxes on a $50,000 profit. Of course, this is one of the few examples we use to reduce your taxable income.
Unfortunately, we don’t offer those services. However, we will be more than happy to provide you with referrals.
Yes, we do. You can request our tax reduction specialist add on a specialized request for payroll services during your onboarding call.
Yes, we do. You can request our tax reduction specialist add on a specialized request for accounts payable and accounts receivable during your onboarding call.
Yes. You can request an add-on customized service that fits your needs during your onboarding. We can break out the revenue and cost for every product you have for each platform you sell – We will accommodate your special requests.
Yes, we can. Speak with one of our welcome specialists and ask about your special add-on request. Our pro plan can break down the various fees from different platforms and merchant accounts on your P/L statement.
With our pro plan, you can request an add-on service to make inventory updates, whether monthly, quarterly, bi-yearly or annually, on your financial statements. We also use FIFO and LIFO inventory accounting methods to maximize your deductions.
Most ecommerce sellers use Shopify, Amazon, Walmart, WooCommerce, Magento, BigCommerce, Etsy and eBay. However, we are also aware of new and upcoming platforms, such as Square Online, GoDaddy, Shift4Shop, GrooveKart, Gearbubble and Wix.
We will study them intensely to know the ins and outs of the system. This way, we know how to serve you better when you start scaling your business to other platforms.
No. There will never be any surprise auto-billing. We only collect your payment information when you decide to keep us as your bookkeeper.
After you sign-up, you will automatically receive a scheduler to arrange a call with one of our account specialists. We will provide you with access to our platform and gather any information to complete your account set-up on this call.
Once we have everything set up, we will complete your one-month books in a few days. Then, our bookkeepers will reconcile your accounts, categorize your transactions and provide you with financial statements, including a balance sheet, cash flow statement and an income statement.
Then, we will speak on the phone to review your books together. During this call, you can ask us any further questions before you decide to use us as your bookkeeper.
You will receive one prior month of bookkeeping services during your free trial. You’ll also receive an onboarding call with our expert team. It includes a tour inside our platform, upload of your bank (credit card) statements and communication with your dedicated bookkeeper.
Whether you decide to continue working with us or not, your monthly report is yours to keep.
ProfitYO serves primarily small and medium-sized businesses. Our clients vary from spas, hotels, retail stores, e-commerce stores, SAAS, digital agencies, freelancers, product creators, coaches, or consultants.
Yes, we support international companies that own a business in the United States. However, we suggest you schedule a call with one of our welcome specialists to see if we can assist you. Just so you know, we can only provide tax filing services for companies incorporated in the United States.
Absolutely. When you are inside the platform, schedule a call at any time. We will be more than happy to speak with you on the phone – Yes, you always receive unlimited support anyway.
No limit. Just ask away inside our platform. Your bookkeeper team leader will usually get back to you in one business day. Often, we will get back to you the same day.
Absolutely. We understand that any business experiences circumstances and sudden changes. We will work together to ensure that you choose the right subscription that works for you.
You can access your financial data inside our platform for up to 30 days. After 30 days, we discard the data. If you need us to destroy your data after the cancellation, please feel free to contact us at any time.
Of course. We also make downloading your financial data from our platform easy.
We will walk you through the different types of pricing that best fit your needs during your free trial.