MyClawn Books › FAQ
What is bookkeeping, and what does a bookkeeping prep service do?
Bookkeeping is the record of what money came in and went out of a business. This page explains it in plain words, what our service does with it, and answers sixteen buyer questions.
Bookkeeping in plain words
Bookkeeping is recording every transaction of a business, sorting each one into a category, and keeping the records so they add up. Money in is sales or other income. Money out is cost of goods, payroll, rent, fees and so on. Done monthly, it tells you whether you made a profit and gives your accountant clean numbers for taxes. Most of the work is not hard, but it is repetitive and easy to put off.
The parts of a monthly bookkeeping job
| Part | What it means | Who does it here |
|---|---|---|
| Collect | Gather statements and receipts | You |
| Record and categorize | Every transaction sorted into an account | MyClawn Books |
| Reconcile | Totals match the statements | MyClawn Books checks and reports |
| Report | Monthly P&L | MyClawn Books |
| Review and file | Judgement, tax, filing | You and your CPA |
Drop your statements here. Starter $49/mo · Pro $149/mo. Refund within 14 days if it misses.
Upload your filesWhere this service stops
It prepares the books. It does not give tax or accounting advice, file anything, run payroll, post into your software or sign off for a CPA. See bookkeeping vs accounting for the line between bookkeeping and accountancy, how it works for the process and pricing for plans.
Getting good results
- Upload every account for the month: each bank account and each card.
- Say what is unusual: transfers between your own accounts, owner draws, a loan.
- Add receipts for purchases you want split or explained.
- Read the Questions tab first. Ten minutes there is what turns a draft into closed books.
Common worries, answered
It categorized something wrong. It happens, mostly with vague merchant names. The Questions tab lists them with a best guess and the reason, and you can reply with the rule so the whole file is updated.
I do not understand accounting terms. You do not need to. The note can be plain: owner transfers are draws, food is cost of goods. If you are unsure what a category means, your accountant can tell you in a minute.
I have personal and business spending in one account. It flags personal-looking charges (streaming, fitness, gift cards) and suggests an owner-draw treatment, and you decide. Best practice is separate accounts, which is a topic for your accountant.
I am behind by months. Upload everything and ask for a month column and a P&L per month.
How it compares with doing it yourself
Doing your own books in accounting software means connecting accounts, reviewing a feed of transactions, picking a category for each, and reconciling. It is cheap in dollars and expensive in attention. A prep service takes the categorizing and the checking and leaves you the review. If you enjoy your books, do them. If they are the thing you keep postponing until tax time, prep is a small cost to stop postponing.
What to do when the Questions tab is long
A first month can have dozens of questions, and that is a feature of an honest process, not a failure. Group them: vendors you recognize (answer once and say always categorize this vendor as X), personal-looking charges (decide owner draw or business), duplicates (delete one), and the genuinely odd (ask your accountant). Most files shrink fast once the first few rules are stated, and the following months have far fewer questions because you now have rules to paste in the note.
Privacy and retention
Files pass through our US upload server, are stored and processed on our servers in Germany, are read by our AI provider in the US under terms that exclude training, and are deleted after 30 days. We never ask for bank logins. Please do not upload full account numbers or social security numbers; redact them first if your statement shows them.
Upload this month's statements. Bookkeeping prep only, not tax advice. 14-day refund if it misses, two rounds of changes, cancel any time.
Questions
What is an online bookkeeping service?
You send bank and card statements and get back categorized books for the month: a ledger, a profit and loss statement and a file to import into QuickBooks or Xero. Here the categorizing is done with AI and every item it is unsure of is listed.
Is this a replacement for a CPA?
No. It is bookkeeping prep. It does not give tax or accounting advice and does not file anything. Your accountant can use the ledger and P&L as a clean starting point.
Is it a bookkeeper?
No, it does not work inside your software, handle payroll or answer calls. It prepares the monthly books.
How accurate is the categorizing?
Clear vendors such as rent, payroll or a regular supplier are straightforward. Vague ones like "AMZN Mktp" can be wrong, so they go on the Questions tab with a best guess. Check that tab once.
Which files can I send?
CSV and Excel exports, PDF statements, receipts as PDF or photo, OFX/QFX, POS exports, zips. Up to 60 files, 100 MB each.
Does it work with QuickBooks and Xero?
You get a CSV in the column layout their bank-statement upload accepts, and you import it yourself. We do not connect to your accounts or ask for bank logins.
Do you need my bank login?
No, never.
What if my statements are scanned or photos?
Receipts as photos are supported. Statements as clean CSV or PDF give the best results; mention any scanned pages in the note.
Can it handle several months I never closed?
Yes: ask for one ledger with a month column and a P&L per month.
What does the Questions tab contain?
Uncategorized rows, probable duplicates, possible personal spending, transfers to check, unusually large items, loan payments, and anything that did not reconcile.
Does it decide what is deductible?
No. It flags and suggests; you or your accountant decide.
Is my data safe?
Files pass through our US upload server, are stored and processed on our servers in Germany, are read by our AI provider in the US under terms that exclude training, and are deleted after 30 days. Do not upload full account or social security numbers.
How fast is it?
Usually within the hour. Our test with 121 bank rows, a card PDF and 5 receipts took 2 minutes.
What if it is wrong?
Reply with what to fix. Each upload includes two rounds of changes. If it still misses, email us within 14 days and we refund your month.
How much does it cost?
$49 a month for 4 uploads and one business, $149 for 20 uploads and several entities.
Can I cancel?
Any time from your account page.
Drop your statements here. Starter $49/mo · Pro $149/mo. Refund within 14 days if it misses.
Upload your files