Frequently Asked Questions
What is the 5% royalty?
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If you convert your business to a subscription model through our platform, Awesome Accounting takes a 5% royalty on every subscription payment your customers make. This is automatically deducted before we pay you the remaining 95%. This royalty applies forever for businesses converted through our platform.
How do payouts work?
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All subscriber payments flow through Awesome Accounting's platform. We automatically deduct the 5% royalty and credit your account with the remaining 95%. Once your available balance reaches $25, you can request a payout. Payouts are processed within 3-5 business days via bank transfer.
Can I cancel anytime?
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Yes. Both plans are billed monthly and you can cancel anytime. Your access continues until the end of your billing period. Note: if you have an active subscription business with subscribers, the 5% royalty continues regardless of your plan status.
What banks do you support?
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We support bank statements from any financial institution, as long as they're in PDF or CSV format. Our AI parses statements from all major banks, credit unions, and financial apps.
What is the subscription model evaluation?
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Business plan users get an AI-powered analysis of their business to determine if it could convert to a subscription-based model. We explain the benefits, walk you through the transition, and help you set up recurring billing through our platform. If your business converts, subscriber payments are managed through Awesome Accounting with the 5% royalty auto-deducted.