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@tkchapin Totally get it. CPA’s can get expensive, especially for smaller operations, it simply isn’t worth it. And even for an accountant, quickbooks is not all that intuitive. So there seems to be a gap between small business owners and quickbooks. For this client specifically, I’d say no...

@dahmworg Honestly your network is your best friend. Maybe a client knows someone or you can probe a bit to see what they do for a living. Another option is any other businesses in the area that utilize it. In all honesty, $270 is a lot if they aren’t doing payroll correctly. Quickbooks has...

@613jono Ok couple things. 1) You will only a CPA for one thing as an early stage startup and that’s taxes. My advice is shop local. Don’t Google because you’ll find the biggest companies that will only find it worth it to do your return if they charge $3k, start with Jon Smith, CPA down the...

@i4e Trial Balance is the summary of your assets, liabilities, equity, income, and expenses. It provides most information necessary to prepare your 1065 or 1120, even Schedule C. It ensures your numbers are somewhat accurate, if it doesn’t zero there’s a problem! Maybe you’re more familiar with...

@jes1023 Keep on it! It’s tough at first but you’ll get the hang of it and eventually you’ll grow your business to have someone do it for you!

@jes1023 Not necessarily, at year end, the accountant will ask for your quickbooks trial balance. It’s an automatic report that generates for you and the tax preparer will need it. Other than that, just make sure your cash in quickbooks tie to your bank statement at 12/31 and your receipts in...

@igor784hg Depending on volume of transactions/ doing payroll, yes in this case

@tammyinga This is a great personal story. I love how you used the term taking full ownership of your business. Exactly how small business owners should approach their baby.

@ktorres08 Interesting I did not know that

@paulrhys Yes, for this client based on volume of transactions, I probably would charge $25 /hour and it’d take me probably 2 hours per month excluding payroll. Yes, businesses need accounting systems and someone who can get the job done if they can’t do it themselves.

@surrenderingtogod Yeah I’ll need to set something up before issuing drafts.

@nipun Yeah luckily I have the signed Engagement Letter

Hi all, I’m a tax accountant and run into several small businesses and want to give you a real world example of why you need to keep your books straight. This is not self promotion, I sincerely do not want your crumbed up receipts you found in the glovebox. Client of mine hasn’t filed taxes...