Does Profit Pad Bookkeeping sync with Quickbooks or other accounting software?
QuickBooks and other bookkeeping software give you a tool to do your own bookkeeping. Profit Pad Bookkeeping assign your company with a bookkeeper who does your bookkeeping for you.
With Profit Pad Bookkeeping, you get a team of real, expert bookkeepers in addition to software. You’ll always have the human support you need, and an app to access your up-to-date financials.
What is the difference between Profit Pad Bookkeeping and Quickbooks (or other bookkeeping software)?
We don’t sync your data from any other bookkeeping software.
When you sign up for our service, we’ll take bookkeeping off your plate completely—which means you won’t need to use any other software with Profit Pad Bookkeeping. Our bookkeepers will work with you in details. We will use your financial data such as banking statements and credit cards as our source of truth, and make all adjustments in the Profit Pad Bookkeeping software.
What does the transition from Quickbooks to Profit Pad look like?
If you’re switching from QuickBooks, we’ll work from your closing balances to do your bookkeeping going forward.
If you’re not sure whether your closing balances are accurate, we recommend chatting with one of our Onboarding Specialists about Catch Up bookkeeping.
Accounting Service
Does Profit Pad Bookkeeping support both cash and accrual accounting?
Profit Pad Bookkeeping supports bookkeeping on a accrual basis. This means that we record transactions based on the transaction date so you can capture a clearer picture of your company’s financial health. Accrual accounting works well for project based companies.
Alternatively, bookkeeping can be done on an cash basis. In this system, revenues and expenses are recorded when they’re received (deposited) or paid, regardless of when the money is actually has been deposited into your bank or charged to your bank/credit card.
We do not offer bookkeeping on an cash basis, but we can help if you file your return on cash basis. Chat with an Onboarding Specialist for more details.
Do you provide invoicing, billing , payroll, or accounts receivable service?
We offer invoicing and proposal in our web software. Asked our customer representative about our payroll service (offer in California and Texas, USA), billing service, and accounts receivables service.
Do we offer tax preparation?
We don’t file your taxes with the IRS, but we make sure you’re set up perfectly for tax time. We prepare a Year End Financial package that contains everything you need to file.
If you have a CPA, we’ll work with them directly. We can even give your CPA their own Profit Pad Bookkeeping login, so you don’t have to worry about emailing back and forth or sending them your files.
If you don’t have a CPA, we can set you up with one we trust.
Do you offer tax or financial service?
While we can make suggestions to keep your bookkeeping stress-free, we can’t provide you with tax, legal, or financial advice. We recommend chatting with a CPA or an attorney for tax or legal advice.
About Profit Pad Bookkeeping & Payroll services
How does bookkeeping help my business?
Bookkeeping gives you a crystal clear picture of where your money is coming (and going.) Since we focused on accrual accounting practice, you will be able to determine your actual profit and loss from your sales. When your books are up-to-date, you get an accurate measure of your business’s health, and can make smarter financial decisions.
Having accurate books pays off at tax time, too. When your bookkeeping is up-to-date, you avoid scrambling to get caught up before the tax deadline, or missing out on any deductions.
What does my bookkeeper do?
Your bookkeeper reconciles your accounts, categorizes your transactions, and produces your financial statements. They also make adjustments to your books to ensure they’re tax-compliant.
Occasionally your bookkeeper might need your input on things like categorizing a transaction properly, but we try our best to make bookkeeping as hands-off as possible for you.
You can also book a call with your bookkeeper (or send them a message) whenever you’d like. There’s no extra fee or hourly charges for support—we’re always happy to nerd out about bookkeeping and your financial statements.
Where are your bookkeepers located? What are their qualifications?
The majority of our bookkeepers work out of our California headquarters. We don’t outsource your bookkeeping, and we never will.
Profit Pad Bookkeeping staffs are trained in-house by our Account Managers. Our Account Managers are fully qualified where they hold bachelor and master degrees in business. Collectively, they have experience from supporting various industries to small business owners with 1 to 30 employees. Our team knows how to serve your business’s unique bookkeeping needs, and they do it very well.