FAQ

No. A CPA is a Certified Public Accountant.
What is the difference between a CPA and a Full Charge Bookkeeper?

The primary functions CPA fulfill relate to assurance services, or public accounting. In assurance services, also known as financial audit services, CPAs attest to the reasonableness of disclosures, the freedom from material misstatement, and the adherence to the applicable generally accepted accounting principles (GAAP) in financial statements.

Basically a CPA is going to look over your bookkeeping and confirm that what your reporting is reasonable and true. CPA's will usually file your business and/or personal taxes.

A bookkeeper records the day-to-day financial transactions of an organization. These transactions consist of purchase, sales, receipts, and payments. The bookkeeper is responsible for ensuring all transactions are recorded correctly. At Whizkid Bookkeeping, we also manage payrolls.

CPA's can take care of all of your Bookkeeping & Accounting but at a much higher rate. Bookkeepers charge between $20.00-$70.00 per hour for basic bookkeeping with additional fees for other services (payroll, by request reports, etc). CPA's charge much more.

No. We prepare your business and/or personal bookkeeping records for your tax preparer.
To keep my cost down can I help?

Absolutely! Business owners can help by being prepared.

*Have all Bank & Credit Card Statements.

*Organize misc. receipts by payment and date. (ex. cash, credit card, checking) Make notes on receipts in pencil for items purchased.

* Include everything! If it is not applicable we will return it. If you’re not sure what something is, include it with a note attached.

* Keep all IRS letters and notifications together in date order.

* Include payroll & employee information. W4’s, checks, quarterlies, 940/941 or personal tax payments. Any forms that have been filled out and/or sent to the IRS.

Whizkid Bookkeeping charges a base rate of $25.00 per hour. This rate includes clean-up jobs, day to day data entry, general ledger, billings, etc. We do have separate fees for payroll only clients.
Do you do personal bookkeeping?

Yes, our personal bookkeeping clients include: dual income couples and busy families, singles, senior citizens and people incapacitated by illness or injury. We will pay your bills for you, balance your checkbook, file your medical insurance claims and computerize your household financial records. We are your personal home assistants.

We see a lot of sticker shock when speaking with potential clients, below is a basic break down. (Employer Tax/Insurance is an average of 17.5%: includes ESC 3% max, FUTA .5%, FICA 6.2%, Medicare 1.5% and Worker’s Comp Insurance)

Employee: Hourly pay $15-$30 per hour. Usually need training. Employer must maintain predetermined hours.
Jane Doe $16 per hour X 32 hrs week =Gross $512 + Employer Tax/Ins. $88.83
Employer monthly expense: Gross$2048 Employer Tax/Ins. $355.32

Bookkeeper: $50.00 per hour. No training necessary. We work at employers request.
Bookkeeper $50 per hour X 5 hrs week = Gross$250 Employer Tax/Ins. $0
Employer monthly expense: Gross$1000 Employer Tax/Ins. $0