Atlanta CPA on Using QuickBooks as an Accounting Package

Atlanta CPA on Using QuickBooks as an Accounting Package

Evaluating a client's financial statement a CPA can gain much guidance and information about a particular taxpayer. However there is no substitute for a CPA being keenly aware of all information that they receive from a client. For whatever type of attestation services, if any, a CPA is offered, they should bring to bear their full insight and wisdom. Therefore it is widely suggested that you work with a CPA who:

Is a leader in the Business Community

Is a Christian

Graduated at the Top of Their Class

Is Award Winning

Gives Back to Those Less Fortunate

When helping a client critique their internal books, the below is a sample letter that we might share with a client to ensure that all of the information for their QuickBooks/Internal Financial Statements to ensure that a timely and correct return is prepared thereby ensuring that only the lowest legal possible tax is paid:

In getting started on your 2010 Corporate Data I noticed that:

Your Legal & Professional Fees, Cost of Goods Sold and Advertising Expenses fell dramatically from the 2009 amounts. Please review/advise.

Your Travel Expenses this year was zero while last year was $2.0K. Please be sure that you have listed all business expenses that you company has legally incurred.

Please forward to me a copy of the W-2's the company issued along with the W-3.

In looking at your August Internal Books the numbers do not add up which means that our starting point inadvertently changed. Please be reminded that after you close your internal books are closed that you should not make any postings to any current periods.

To help you with tracking of this in the future I have added a schedule so that you can roll forward the year to date profit from month to month reflecting the cumulative balance on the Profit and Loss and the B/S. If you will go back and correct your internal books at July to agree to the YTD net income of $10,000 and then re-send the B/S, P/L's, new recap schedule attached showing how it reconciles, the G/L and Journal.

This will confirm you advice that:

You confirmed that all of the Travel Costs in August was predominantly for prior periods and that there were no prepaid expenses.

That you will review the coding of the larger items in the Travel Costs in the future to ensure that you accrue for any un-billed, but earned, Travel Costs.

"Dare to Attempt Something so Great for the Kingdom of God, that it is Doomed to Failure Lest God be in it!"

 John Dillard, CPA of His CPA, PC (An Atlanta Christian CPA firm) 1940 Woods River Lane, Duluth, GA 30097 Phone 770-814-9304 http://www.hiscpa.com/   (All Rights Reserved) To retain John Dillard CPA (An Atlanta Christian Speaker/Author) for your business group or church congregation, you can contact him today at 770.814.9304. To discover John Dillard's Published Books and their vision visit http://www.john-dillard.com/ We advise clients on: IRS representation, Offer in Compromise, Tax Problems, Incorporation in Georgia, Corporate and Personal Income Tax Returns, Part-time CFO, Virtual Controller, Business Planning, Back Taxes, Business Acquisitions/Sales, Forensic Accounting, Business Valuations and Bookkeeping.