Bookkeepers and accountants are not interchangeable. There are tasks that clearly belong to your bookkeeper and others that belong to your CPA. In many people’s mind, the demarcation line is blurry and this is because, historically, both professions have had incentives to blur that line in order to grab billable hours away from each other. The reality is a lot simpler and cleaner. The accounting profession (aka CPAs) is highly regulated. Read more »

The QuickBooks Accountant Copy is a great concept on paper, but a hindrance in real life. Nowadays, there are much more elegant and efficient  ways to coordinate your work with your CPA, tax adviser or bookkeeper. If your CPA asks you for an Accountant Copy, I recommend that you push back. Luckily, fewer and fewer CPAs ask for an Accountant Copy. Quick primer on the QuickBooks Account Copy. Read more »

The bookkeeping profession is as unregulated as it gets. There are no official certifications like they have for CPAs, financial planners and many other white collar service professions. It’s a good thing as I’ll explain below, but it leaves many small business owners wondering how to identify the good from the bad among bookkeepers. Read more »

Keeping good financial records is a common nightmare for most small business. What should you keep? How long? Is electronic OK? How to organize all these documents? Here are some high level guidelines, but bear in mind that the law around bookkeeping records is loaded with exceptions and corner cases. In case of doubt, always check with your CPA or attorney. Another disclaimer: this blog is about financial records as they are relevant to the IRS. Read more »