Questions, answered plainly
Short, direct answers about fiscal50. Can’t find yours? Ask the assistant inside fiscal50 or contact us.
FAQ
About fiscal50
What is fiscal50?
fiscal50 is AI-powered bookkeeping and accounting software for small businesses and bookkeepers. It syncs bank and credit card feeds, recommends and explains how each transaction should be booked, posts double-entry journal entries, reconciles accounts and produces financial statements. Invoicing, bills, inventory, fixed assets, 1099 tracking and month-end close are built in.
Who is fiscal50 for?
Startups and small and medium-sized businesses that want accurate books without manual data entry, and bookkeepers and accounting firms that manage books for many clients. It supports sole proprietors, partnerships, LLCs, corporations, S corporations and non-profits.
Do I need to be an accountant or bookkeeper to use fiscal50?
No. fiscal50 is built for business owners at any level of accounting knowledge. AI recommendations explain themselves, the built-in assistant answers how-do-I questions on every screen, and the fiscal50 Academy teaches each feature with short lessons and quizzes.
Is fiscal50 a QuickBooks alternative?
Yes. fiscal50 covers core small business accounting, adds explainable AI bookkeeping, and imports a QuickBooks Online or Desktop chart of accounts and trial balance during setup.
How is fiscal50 related to Maven Systems?
Maven Systems offers bookkeeping courses and Maven PMP practice management for independent bookkeepers. fiscal50 and Maven PMP are integrated so a bookkeeping practice can run client management and client books together.
FAQ
AI and automation
How does fiscal50 use AI?
In Banks to Books, AI recommends the customer or vendor, the category and the account for each bank and card transaction, and matches deposits and withdrawals to open invoices and bills. It learns from how you recorded similar transactions. AI agents auto-reconcile your accounts month after month once the predicted ending balance agrees with the bank. AI also powers Fifty, the assistant on every screen, and the Configuration Agent that imports your QuickBooks accounts.
Will the AI post entries without me?
No. Recommendations are pre-selected but nothing reaches your books until you click Post, post the page or queue a batch. Anything posted can be corrected later from the Recorded to fiscal50 tab, one at a time or in bulk.
Can I see why a transaction was categorized a certain way?
Yes. Every recommendation comes with its explanation: the reason, a confidence score and the evidence behind it, such as the number of prior transactions it learned from.
What can Fifty, the AI accountant, do?
Answer how-to questions from the fiscal50 guides with a Take me there button that opens the screen, read figures such as revenue or a balance sheet from your books, and, on Business and Business Pro, create invoices, bills, payments and other records from the chat after you confirm a summary.
FAQ
Pricing and plans
How much does fiscal50 cost?
Starter is $5.50 a month, Business is $19.50 a month and Business Pro is $30.50 a month. Paying yearly costs $59.50, $210.50 and $329.50 respectively.
Is there a free trial?
Yes. The Starter plan’s first month is free and no credit card is required.
Can I change plans later?
Yes. Upgrade or downgrade from Billing in your account menu; charges are prorated.
How do bookkeepers pay for client companies?
Three ways, all in the free-to-start Bookkeeper Workspace: buy the client’s licence at partner prices (15% to 30% off retail), set up clients who pay fiscal50 directly while the firm earns a revenue share, or be connected by a business already on fiscal50 with the firm’s connect code.
FAQ
Data and security
Is my data secure on fiscal50?
Bank and card accounts link through Plaid, every user has their own sign-in with permissions set feature by feature, and vendor and payee Social Security numbers are encrypted when saved, kept in a separate secure vault and shown masked to the last four digits. Closed periods are locked.
Can I move data from other software into fiscal50?
Yes. Import a chart of accounts and trial balance or balance sheet from QuickBooks Online or Desktop, import transactions from Excel or CSV, and keep prior years as historical balance sheets.
Can I work with my accountant in fiscal50?
Yes. Give your accountant or bookkeeper their own login, or let a bookkeeper using the fiscal50 Bookkeeper Workspace manage your books.
Can I export my data?
Yes. Reports export to Excel, the general ledger and sub-ledgers export in three layouts, and 1099 data exports to CSV.
FAQ
For bookkeepers and firms
Which software helps a bookkeeper close the books for multiple clients faster?
The fiscal50 Bookkeeper Workspace puts every client’s month-end on one close board. On the Practice and Firm plans you start the month for all clients in one click, the checks (Banks to Books empty, accounts reconciled, nothing posted after reconciliation, approvals cleared) tick themselves from fiscal50 data, and a second person signs off. fiscal50 then locks each closed month.
Can a bookkeeper manage many client companies with one login?
Yes. The Bookkeeper Workspace lists every client company under one login, and Log in opens that client’s own fiscal50 in a new tab without a shared password. The bookkeeper can buy the client’s licence at partner prices, the client can pay fiscal50 directly, or a business already on fiscal50 can connect its bookkeeper with a connect code. Connect, the first Workspace plan, is free.
How does a bookkeeper review AI-categorized transactions in fiscal50?
In Banks to Books, AI pre-selects a recommendation for each bank and card transaction with a reason, a confidence percentage and the evidence it used. The bookkeeper accepts it or picks something else, then clicks Post. Nothing posts on its own, and each posted transaction is a balanced double-entry journal entry.
How do I move a client from QuickBooks to fiscal50?
Upload the client’s QuickBooks Online or Desktop chart of accounts with a trial balance or balance sheet. The configuration agent matches accounts by name, checks that debits equal credits and shows errors and warnings before you choose Approve & Import. Transaction history is not migrated.
What is the difference between built-in AI bookkeeping and an AI add-on?
In fiscal50 the AI recommendations sit inside the ledger: each recommendation is made in Banks to Books, posted as a journal entry in the same books and reconciled there. An add-on tool works in a separate app and sends its results to the accounting software through an integration.
Make this the last month you do bookkeeping by hand.
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