1. What accounting software does WSC use? To confirm, is it feasible to have WSC maintain my company’s information other than utilizing WSC’s servers? If so, please elaborate alternative options.
We currently use QuickBooks and Xero. Our accountants are QB certified. Both softwares are cloud based, meaning we can access them remotely from our office. We are open to using whatever software you request if you find something that better fits your business, as long as we can access it remotely from our office. If you have another software in mind, please provide the information, and we will look into it.
2. If WSC creates Chart of Accounts are they standard for flipping real estate?
Yes. We will create based upon type of business and any of your requests will be included.
3. Is WSC open to having my company create our own Chart of Accounts and provide to WSC? What’s the price difference if my company creates our Chart of Accounts vs. WSC?
Yes. We can do either for you. There will be no price difference.
4. Can WSC provide a breakdown of the granular charges so my company can manage some of the requirements to save ($$) in order to lower WSC’s fees?
We pride ourselves on tailoring our solutions for the individual needs of our clients. However, our tasks listed in the contract go hand-in-hand, and are typically handled as a package deal. Please provide me with more information on what you are looking to handle yourself so that I can better assess
5. If WSC manages the preparation but my company decides to assume bookkeeping responsibilities (leaves WSC) then how does my company obtain the previous information (i.e., back tax information, receipts, expense details, etc.)
This depends on which contract you sign. If you sign a 12-month contract and decide to leave, the full amount of the contract will need to be paid. If you are just wanting WSC to set you up in your software and then handle the books yourself, it will be a $200 flat fee. Your previous information (i.e., back tax information, receipts, expense details, etc.) will be available via your software. We also keep hard copies of your information in office for 1 year.
6. What would WSC’s fees be to set up the accounting template with our own software at our location? What would the hourly rate be for follow up questions?
If you sign 12 months, the fee to set up your software in house will be included (please refer to #1 on software options). To set up on a month-to-month contract, the fee will be onetime fee of $200. There will be no extra charge for follow up questions or consulting in house as needed. We are happy to help with any questions you have, and will provide consulting and advisory. However, any onsite work done in the books will be $75/hr.
7. On the Needs Assessment form, I have additional questions:
o For the $400/mo., does that include setting everything up? It appears either $75/hour (onsite) plus trip charge or $40/hour (offsite) is what it would cost. Is that correct? The $400 includes setting everything up and work within the contract period if you sign 12 months. If you do month-to-month, it is $200 to set up. The $75/hr. is for onsite work for either 2016 clean up, the contract period. The $40/hr. is for offsite work done for 2016 clean up only.
8. What are the charges for filing an extension for personal? And business? What dollar amount would you recommend I send in with the extension to avoid excessive interest charges?
We will file an extension for you at $20 for personal, and $20 for business.
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