Frequently Asked Questions
We provide the majority of our clients with cash basis bookkeeping. If you require accrual basis bookkeeping, talk to us. We will develop a plan that fits your business.
We designed our service to take the pain out of bookkeeping. Not only are your books kept up to date but you also have access to a team of professional bookkeepers, accountants, and tax advisors.
Real people who do your bookkeeping every month, all at an affordable price.
Once we get your account setup, you will need to connect all of your merchant and bank accounts to the bookkeeping software. We will be there to walk you through this during the initial setup phase.
Once complete, this allows your bookkeeping team to automatically receive read-only versions of your bank statements and sales data without you having to lift a finger.
Our Plentybooks team will use your data to categorize the transactions and deliver accurate financial statements.
You will also be able to view and download your financial statements from the app on your desktop and mobile device.
Currently, our team at Plentybooks consists of Enrolled Agents.
An EA, or Enrolled Agent, is a tax practitioner who is licensed at the federal level by the Internal Revenue Service. In fact, Enrolled Agent status is the highest credential awarded by the IRS.
A CPA, or Certified Public Accountant, are licensed by their applicable state boards of accountancy.
Both Enrolled Agents and Certified Public Accountants enjoy virtually unlimited practice rights before the IRS. That means there are no restrictions to the types of tax issues we can handle and the type of taxpayers we can serve.
Additionally, each may represent tax clients before any type of IRS office. Lastly, EA’s and CPA’s are both required to meet specific ethical and continuing education requirements and must both pass rigorous exams.
Enrolled Agent’s specialize in tax issues period — such as preparation of taxes for individuals and business entities, tax resolution, and/or advising clients on tax matters. While Enrolled Agents do perform accounting tasks, and may perform certain kinds of audits (such as Tax Audits), they our limited in that they cannot express an “unqualified” type of opinion, such as a public company would need when filing their financial statements with the Securities & Exchange Commission. Having SEC compliant audited statements is not a requirement for most non-public businesses. If needing an SEC compliant audited statement, that’s when a CPA will be required.
Otherwise, both EA’s and CPA’s are equally qualified to prepare your taxes and provide bookkeeping services. Since we are not CPA’s, we do not provide any Public Auditing or Attestation services.
Rest assured, our team of Enrolled Agent’s and professional bookkeepers are well-trained in the accounting services we do offer.