I get calls from potential clients that have been referred to me, and time and again, they have hired a “bookkeeper” who really didn’t understand accounting, and when they got to the year-end, their CPA firm charged them a small fortune because the books weren’t categorized into a methodology making the financial information readily utilized for the corporate tax forms.
When choosing a bookkeeper, you should make sure the person understands the accounting so that you don’t have issues in reading your financials. No matter the size of your organization, generally, your financial statements should be a page each. Not only have I seen expense items on the Balance Sheet, but I’ve seen Balance Sheet items on the P&L, making a very tangled mess of things when they need to be reported for a board of directors or the CPA firm at year-end.
My goal for your organization is to simplify, clarify, create transparency and enable you and any of your staff/board to clearly understand what is happening in your company financially.
Hi, this is a comment.
To get started with moderating, editing, and deleting comments, please visit the Comments screen in the dashboard.
Commenter avatars come from Gravatar.