CPA to keep your books?

[Erin Kathleen]

Does anyone have a CPA that actually keeps all of their books? I haven't really explored this option yet, but my CPA that we're going to have do our annual taxes offers this service where he updates them once a month, files sales taxes, etc. and then would do our annual taxes for free or at a discount. I'm not the most organized person in the world, so it might be easier to just email him when I receive money and whatnot. I don't think he sends out invoices or any of that, but he might. I was just wondering if everyone else keeps their own books or if they have someone do it? If you have someone else do it, do you mind me asking what they charge? His service seems really reasonable for small businesses ($50/month), but I don't know what the going rate would be. I know that I should be able to do this on my own, but I also know that I'm bad about keeping track of just our household finances and I'm awful about the business stuff. I have all the records and file my taxes on time, but it's all over the place and collecting them all up or really having them in one place never really got organized. If I'm going to do it myself, does anyone have any software, etc. that they recommend? I've been reading the invoice thread and I think this is similar if I decide to do it myself... Anyway, let me know if you have this done and if you think it's worth it. Thanks!!!

[adam7731]

quick books got me orginized along with seperate checking and visa card. Use only company money for company things. If you dont have it dont use your personal card. My CPA loves me when i come in the door because 95 percent of my tax return is done and she just does the personal stocks and bonds.

quickbooks was well worth the money.

[cmalana]

I second the quickbooks suggestion. I run the business' books on Quickbooks simple start (and send out invoices from there as well, either by printing or through pdf files on email). It keeps track of sales tax, etc.

I also agree with setting up the business separately. I've now gotten to the point where the photography business has its own bank account and line of credit, so things are tracked that way.

We scan all receipts and do a quick audit once a month. At this point, transaction volume is manageable but I have to admit it takes some discipline to keep it up.

If I ever have to pay for something from my personal funds, I have the business pay me the amount a week after the end of the month.

[haraki74]

Quickbooks Pro has really gotten me organized. Their help sections aren't too bad either. Basically type in what you want to do and it will tell you how to do it. Ex. "cash expenditure" told me how to create the petty cash account, how to fund it then how to enter the expense. Great for those of us who are accounting challenged!

[cmalana]

I'm actually thinking of going to Quickbooks Pro since I'd like to be be able to do a better job of asset tracking (depreciation), etc. than Quickbooks Simple Start. I agree that the help files are pretty good and the support website isn't bad either.

[BobbyC]

Many CPA's will handle everything for you, you just have to pay for it. Does the cost outwiegh your time to do it yourself?