Bookkeeping Services for Tutors

Bookkeeping and Accounting for Tutors

Searching for a bookkeeper and accountant for your tutoring business? We handle your finances, so you get more time to focus on teaching. Try us for free.

* No Debit/Credit Card Required
Accracy Accounting Online Remote Bookkeeping Services for Tutors
Accracy Accounting QuickBooks Certified ProAdvisor
Accracy Accounting Xero Certified Advisor
Accracy Accounting Gusto Payroll Certiication
Accracy Accounting Fathom Certified Advisor
Accracy Accounting Karbon Certified Expert
Free 1 Month Bokkeeping Trial

New Customer Offer

We are offering free 1 Month Basic Bookkeeping to all new customers so you can experience Accracy's seemless and professional services.

* No Debit/Credit Card Required

How Accracy works with Tutors

Searching for a bookkeeper and accountant for your tutoring business? We handle your finances, so you get more time to focus on teaching. Try us for free.

Accracy Accounting CPA CA Oversight
We get you set up

Our team takes the time to deeply understand your tutoring services, answer your queries, assist you in linking your accounts, and demonstrate how Accracy can streamline your financial management.

Accracy Accounting Digital Fluency
We do your bookkeeping

Every month, your personal bookkeeper diligently organizes your tutoring transactions and prepares financial summaries. If they require any additional information from you, they will promptly reach out.

Accracy Accounting One-on-one expert support 24/7
We deliver tax-ready financials

Every month, your personal bookkeeper diligently organizes your tutoring transactions and prepares financial summaries. If they require any additional information from you, they will promptly reach out.

Here’s why Tutors like you trust Accracy with their bookkeeping and accounting

Get fast, unlimited support for Tutors with Accracy Accounting and Bookkeeping Services

Get fast, unlimited support from our expert advisors

We provide routine bookkeeping updates for your tutoring business. Have urgent inquiries that can't be delayed? We ensure a response within one business day or less.

Guaranteed accuracy in every detail for Tutors with Accracy Accounting and Bookkeeping Services

Guaranteed accuracy in every detail

Our platform enables you to automate data entries from leading platforms, helping you sidestep frequent errors. We partner with businesses recognised among tutors such as PayPal, Venmo, Stripe, and Squareensuring that your financial records are always precise.

Make Smart Decisions for Tutors with Accracy Accounting and Bookkeeping Services

See where you’re spending. Make smart decisions

Wave farewell to stacks of worksheets and hours spent on manual record keeping — our automation pulls data straight from your linked accounts. Harness the power of insights from one comprehensive dashboard, enabling you to quickly grasp the financial state of your tutoring business and make informed strategic decisions.

Bookkeepers for Tutors

When it comes to managing the financial side of your tutoring business, Accracy Accounting is your reliable partner. Various types of income and expenses can create complex taxation scenarios for tutors, especially for those providing services across different states. In this light, the ever-changing tax laws and strict record-keeping requirements can be overwhelming. At Accracy, we not only offer intuitive bookkeeping software tailored to the specific needs of the tutoring industry, but we also assign dedicated, human bookkeepers familiar with the industry-specific taxes, laws, and potential issues. They can navigate these complexities with ease, providing accurate financial reports and ensuring you meet all necessary tax obligations.

Understanding that tutors often wear many hats, from marketing their services to developing lesson plans, Accracy aims to alleviate the stress of managing finances. Save your energy and focus more on imparting knowledge, as we manage the common bookkeeping issues typically encountered in the tutoring industry. These might include tracking various revenue streams, inventorying teaching materials, or handling the financial aspects of hiring additional staff. In short, Accracy's mission is to streamline your financial processes, letting you devote more time to the essence of your profession — teaching. By taking care of your bookkeeping and tax responsibilities, Accracy makes it easier for you to operate and grow your tutoring business.

Accracy Pricing

Simple, straightforward bookkeeping pricing for everything your business needs.

Join over 1000 business owners who have streamlined their finances and have grown their businesses with Accracy.

Basic

Starting from
$200 / month billed annually
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Catch Up Bookkeeping

$500 / Billed Once
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Basic

Starting from
$250 / month
  • Dedicated Bookkeeping Experts
  • Accurate Books with Year-End Financial Records Ready for Tax Season
  • Automating Your Processes Through QuickBooks, Xero and others
  • Accrual or Cash basis accounting
  • 24/7 Support
  • Unlimited communication with your bookkeeping team
Contact Us

Executive

Customized Pricing

Everything in Basic plan +

  • Dedicated Account Manager
  • Sales Tax
  • Corporate Tax
  • Payroll
  • Accounts Payable
  • Accounts Receivables
  • Full Support Team
  • + Additional Customized Services

Schedule a Meeting

Frequently Asked Questions about Bookkeeping and Accounting for Tutors

As a private tutor, you may be eligible for several types of tax deductions. Some common ones include:

<ul><li>Travel Expenses: If you need to travel to a student’s house or any other location to educate, the cost can be claimed as a travel expense.</li><li>Home Office Deductions: If you use part of your home for teaching or admin work, you can claim a portion of your rent/mortgage, utilities, and internet costs.</li><li>Office Supplies & Equipment: Ink, paper, computers, and other related costs are all tax-deductible.</li><li>Professional Development: Costs paid for career enhancement courses, attending workshops or seminars can all be claimed as tax deductions.</li></ul>

Please remember that tax laws can vary based on your location, so it's always recommended to consult with a professional bookkeeper or tax advisor who's familiar with your specific situation.

Managing your income and expenses as an independent tutor requires clear record-keeping, regular financial reviews, and careful tax planning. First, it's ideal to operate a business bank account separate from your personal account. All income earned from tutoring should be deposited into this account and all business expenses should be paid from here. That way, it's easier to keep track of your finances.

Second, maintain thorough records of your income and expenses. This involves recording the student's name, session date, session length, and rate per hour for income. For expenses, document the date, amount, and purpose of each expense. This record-keeping can be done using a spreadsheet or specialized accounting software.

Third, regularly review your financial situation. Check your income against your expenses and adjust your rates or spending as needed. It's also advisable to have a separate savings account for taxes and to contribute to it regularly, based on your income.

Finally, consider seeking professional help from bookkeepers or accountants who specialize in independent contractors or small businesses. They can provide expertise in areas like tax planning, expense tracking, and financial reporting.

The key accounting considerations for your tutoring service include the following:

  • Income Recognition: Tutoring services often receive payment in advance. It is essential to track when to recognize this income accurately in your financial statements.
  • Expense Tracking: This could range from materials and supplies to transportation or room rental costs. Ensure that all these expenses are accurately tracked and categorized for tax purposes.
  • Schedule C Deductions: As a tutoring business, you might qualify for various tax deductions. Working with a knowledgeable bookkeeper can help ensure you're not leaving money on the table.
  • Self-Employment Taxes: If you are a self-employed tutor, you will be responsible for paying self-employment taxes, which an experienced bookkeeper can help you navigate.
  • GST/HST: Depending on the size of your tutoring service and location, you may have to register for the Goods and Services Tax/Harmonized Sales Tax.

By working with a bookkeeper with experience in tutoring services, you can ensure all these factors are properly taken into consideration.

We understand that when our clients turn their accounting and bookkeeping services over to us, trust is paramount. We have a team of certified professionals, use proven technologies, and hold ourselves accountable every day. Yes, you can trust us with your sensitive data and to deliver accurate, timely accounting services for your business.

Absolutely. Our team members are all certified in the leading accounting systems and can quickly get your files up to date.

Don’t worry, your financial data belongs to you. Our offboarding is pretty straightforward as we transfer account ownership to you. As a bonus, there’s no stopping you from replicating the workflows we’ve created for your in-house process – in fact, we encourage it.

Savings can vary considerably depending on your current solution, but our clients tell us that it is generally between 30% and 50%.

We do not provide year-end tax filing services as we are not a CPA firm. However, if you are looking for a year-end tax accountant, we would gladly refer you to one of our partners. Having a separate bookkeeper and year-end accountant ensures additional oversight on the accuracy of your books. Your year-end tax accountant can help you review your books during tax season.

No, we are not a CPA firm. Accracy is not a public accounting firm and does not provide services that would require a license to practice public accountancy.

No. We do not offer services which fall under the jurisdiction of these organizations. We have partner organizations who can provide those services if needed by clients. A good example of such services are tax advisory or statutory filings. We have a number of non-economic partnerships with CPA firms who can help our clients with these services if needed.

Every account is set up with a Client Success Lead who will be your day-to-day contact. They’ll liaise with the rest of the team members on your account which may include an accounting manager, bookkeeper, payroll specialist, and payables specialist.

Accracy can support a wide range of companies, from small businesses and startups to large public corporations. Our services are tailored to meet the unique accounting and bookkeeping needs of businesses across various industries.

At Accracy, we operate as a fully remote team, delivering our bookkeeping and accounting services online. We have the necessary tools and systems in place to work efficiently and securely from our remote locations. We will coordinate and collaborate with your onsite team to ensure smooth communication and workflow integration.

Accracy Accounting Frequently Asked Questions (faq)

Our Services

Your Needs, Our Solutions: Total Coverage Guaranteed

Stress-Free Bookkeeping and Back Office Accounting Solutions for Your Business.

Bookkeeping

Precise Financial Organization

Embark on a transformative journey towards financial clarity with our comprehensive organizational services. Beyond mere bookkeeping, we delve deep into the intricacies of your financial records. Every transaction is meticulously documented, categorized, and structured to provide not just accuracy but a foundation for strategic financial understanding.

Bookkeeping

Financial Reporting

Actionable Financial Insights

Beyond mere numbers, our reporting services are a gateway to actionable insights. We go beyond presenting data; we interpret, analyze, and deliver reports that serve as strategic roadmaps for your business. Timely, clear, and comprehensive, our insights empower you to make informed decisions, identify opportunities, and navigate challenges with confidence.

Financial Reporting

Accounts Payable & Receivable

Efficient Accounts Management

Efficiency is the cornerstone of our accounts management services. Whether handling payables or receivables, we streamline your financial transactions to optimize cash flow. Our focus is on creating a robust system that not only meets compliance standards but also ensures that your financial operations are a well-oiled machine, contributing to the overall health of your business.

Catch-Up Bookkeeping

Timely Financial Updates

Don’t let backlog hinder your progress. Our catch-up services are designed to bring your financial records up to speed. We meticulously address any gaps, ensuring that your records are not just current but also compliant. Stay on top of your financial game with timely updates that provide a comprehensive view of your financial landscape.

Catch-Up Bookkeeping

Fractional Controllership

Strategic Financial Guidance

Experience the benefits of seasoned financial leadership without the full-time commitment. Our fractional controllership services bring in experts to guide your financial strategies. Beyond mere oversight, our professionals actively contribute to optimizing your business performance. Benefit from strategic insights, financial planning, and a level of guidance that propels your business towards sustainable success.

Fractional Controllership

Ready to grow your business?

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