Disclaimer: this FAQ does not replace the Agency-Talent Contracts or Company Policies. They are only guidelines to help answer commonly asked questions. The FAQs are designed to provide a CPA with enough information to make an informed decision on whether or not to move to the next step with the Agency.
Last updated: November 13, 2015
1. How much does CPA MOMS pay Talent?
The pay structure is a 50/50 split. After a 3 week tailored orientation and training, you will receive ongoing on the job training. You will also belong to a professional, and amazingly dedicated community willing to contribute their expertise.
2. When does Talent get paid?
CPA MOMS pays the Talent for all clients once per month. Payments and are deposited in your bank account by the 10th of the month.
3. What is the typical hourly rate I can expect to make?
• CPA: take home hourly range is $45-$75/hr
• Bookkeeper: take home hourly range is $17-$45/hr
4. Am I guaranteed a certain number of clients or hours per month?
No. While we cannot guarantee that your book will always be full, we strive to reach your ideal number of hours by three months into employment. The first month with us is typically slow when it comes to client work as we are training you in all of our systems, but we are currently perfecting a talent availability system to aid in getting everyone of our Talent the number of hours desired. That being said, we do our very best to only start the screening process when we have an abundance of clients. So, the first client should start billing within 30 days of the talent screening process.
5. What services does CPA MOMS provide to our clients?
The list of services does change, so please check with our Talent Manager for the most recent up to date information. At the time of this publishing, CPA MOMS offers services including: bookkeeping and tax services to business owners, nonprofits, and real estate investors.
6. Are there opportunities to get additional training?
Yes. We conduct monthly trainings, which are sometimes classified as CPE credits, and are constantly striving to learn about any new technology on the horizon. As a part of the CPA MOMS team, you will be a part of the community on the search for cutting edge solutions.
- 1-on-1 phone training support: one-on-one training is customized to your needs and includes, but is not limited to, free phone consultation training, sales training, assessments, pricing, and any other client intake training you may require. We also offer customized training to create automation and efficiency in billing systems, offer engagement letter contract templates approved by our attorneys, merchant & collection system, and QuickBooks and other remote technology system training.
Webinars & 1-on-1 certifications: custom webinars have been tailored for practical and immediate application for entrepreneur and real estate investor clients. Certifications are conducted live, 1on1 with a master trainer.
7. How flexible are the pre-requisites of being a part of CPA MOMS® and Bookkeeper Moms™?
Any Talent on the team for CPA MOMS® must be a CPA with an active license. There are no exceptions to this. If your license is currently inactive, you must be willing to get it activated or you can be part of our Bookkeeper Moms™ division. You must be a woman, and we are open to instances where you do not have to be a mom. You must successfully pass a screening/testing process. If you do not meet the criteria for CPA MOMS®, we often are approached by placement companies and clients looking to hire professionals full-time, and may connect them with non-CPAs at their request.
8. If a CPA owns a CPA firm or is a partner in a firm, can they be represented by CPA MOMS?
Yes, you may work with us if you currently have clients of your own or are part of a firm.
9. How are CPAs required to hold their license in order to be represented by CPA MOMS? Certain states like Illinois have special licensing types.
The license must allow for the accounting professional to market themselves as a CPA. If they are not allowed to use the CPA designation, they are not considered an active licensed CPA by our designation.
10. What are all of the upfront costs?
There is one upfront cost of $125. This covers your background check and a DISC profile. This is purely a passed cost.
11. What are all of the ongoing costs Talent can expect as an independent consultant?
The monthly operational costs are $199 per month and you only pay once you start billing. This is a shared cost among all team members, not a revenue line for CPA MOMS. By everyone sharing costs, we are able to purchase at group or company rates and pass those savings on to you.
Included: Anything needed to operate as a professional consultant in a virtual environment, including backups, trainings, E&O insurance, email, anything needed to deliver accounting services in virtual setting.
12. What is required to remain active with CPA MOMS?
To remain active with the CPA MOMS, allowing Talent to continue working with clients and keep the “Official Start Date” (which locks in the CPA split percentage), the following criteria must be met:
If Talent is NOT assigned to any clients, in order to remain “active” and continue to be matched to new clients, she agrees to:
- Keep her CPA license active and in good standing.
- Remain in communication with the leadership team when applicable. If we are unable to connect via phone or email after at least 3 attempts and 3 months, we will automatically deactivate the CPA.
- Remain in an “available” status. Even if you have not been matched with new clients, if you comply with the other agreements and remain open and available for new matches, you will remain in an active status. If any CPA has extenuating circumstances such as maternity leave, medical leave, death in the family, relocation, can’t renew CPA license but is in process of activating her license, or other personal matters, she will remain “active”, but may make herself “unavailable” for new matches. We generally consider someone “inactive” that has remained “unavailable” for a period longer than 3 consecutive months or for more than 3 non-consecutive months in any one calendar year. However, longer “unavailable” periods may be approved at the discretion of agency management.
If the above agreements are not maintained, we will consider the CPA “inactive” and the official start date will be reset and any clients taken on after that will receive a split starting at the year 1 rate in effect at the time of reentry.
If Talent IS assigned to any clients and IS billing, in order to remain “active” and continue to receive any new clients, she agrees to keep her CPA license active and in good standing.
If a CPA is assigned to clients and is billing but does not comply with the agreements above, then we will NOT reset the Official Start Date. However, we reserve the right to change the status to unavailable and prohibit any new client assignments. If Talent is consistently not complying with the "active" requirements and/or not taking measures to become compliant, additional measures including notifying clients of noncompliance, and reassignment are possible in certain cases and only after written communication with Talent.
Assignments are based on a number of factors including Talent ratings. Certain talent ratings are based on participation, attendance at monthly calls, volunteering at events. Though it is not required, in order to maximize talent ratings and improve probability of obtaining new clients, here are some best practices:
- Attend or listen to recordings of at least 10 out of 12 monthly 1 hr CPA MOMS Monthly Calls to keep up to date with agency technology & process improvements.
- Donate up to 3 hours of accounting services to any assigned 501c(3) organization through our CPA MOMS Cares program once a year. If you elect not to participate in the CPA MOMS Cares program, you agree to notify firstname.lastname@example.org in writing.
13. What is CPA MOMS Cares?
Because giving back to our communities is part of our Agency culture, we have chosen to make a habit out of donating services to charitable organizations. A CPA or Bookkeeper that is actively billing clients agrees to donate her services (up to 3 hours per 501c(3) once in their lifetime with the Agency). To learn more about the program, please visit http://www.cpamomscares.com.
14. What happens if Talent “fails” any portion of the test, including online technical test, QuickBooks test?
The online technical test may be retaken by Talent at no additional fee. However, if a new live observation or interview is required, there may be an additional fee for that screening after additional training has been completed. Pricing for the additional screening and training varies. Please speak to the Talent Manager for more information.
15. If Talent does not meet the pre-requisites to be part of the Agency, should she still take the test?
Yes. There are possible opportunities for accounting professionals of all kinds to be matched through partner placement firms. These opportunities might include:
- clients who wanted to hire a CPA or Bookkeeper mom, but no-suitable match was available (often this would result if the client required a local, on-site solution in a market where no Agency talent exists),
- W2 permanent placements,
- part-time/full-time 1099 and W2 consulting positions at business consulting firms.