Judith Valese Syms offers special services for professional accountants and tax preparers.
When it comes to QuickBooks, accounting professionals are typically most interested in the chart of accounts and the account balances QuickBooks uses to create standard financial reports. However, most small businesses rely on item based reports to manage their businesses and file sales tax returns.
We provide training to tax preparers and CPAs designed to close this gap. Our training is related to entering adjustments to the general ledger, which will also adjust one or more items. If items are not used, account based reports will not tie to item based reports.
We also provide training related to issues of accounts receivable and accounts payable balances appearing on a cash basis balance sheet, tying out sales tax revenue to the P&L, cleaning up bank reconciliations, correcting QuickBooks payroll liability and expense accounts, and any other QuickBooks discrepancies that may arise in your client’s data file.
We can clean up the data file in our office to resolve immediate problems. Further, we can train the CPAs and their staff while cleaning up the client’s data file in their office, or providing the training remotely. To resolve long-term problems, we can work directly with your client to clean up the data file and train the client to prevent this problem from recurring.
Discrepancies between client IRS filing and QuickBooks data are generally due to clients altering transactions after the CPA filed the tax returns. We work with our clients to ensure that everything is organized, up-to-date, and that the data is accurate, especially in preparation for tax time. We know what accountants need to make the process go smoothly. Sixty percent of client engagement is spent on clean up and adjustments.
We help our clients correct their accounting errors so that they have accurate records to audit and prepare tax forms from. None of our work is outsourced; it is all done at with online access or with our clients or in our own office.