Too many times I’ve seen it: a client gives us their accounting files to prepare their tax returns, and something just isn’t right. Whether its retained earnings having been adjusted for a prior, presumably closed period, or a minor expense account that has somehow become material, these issues are all too common.
If you work within QuickBooks, you know that the program will not allow you to post an unbalanced entry. While this is a fundamental rule in double-entry accounting, it often results in a plug to an account deemed insignificant. When this happens with a few cents here and there, it’s usually not a problem. But often, the effect on the company’s financials isn’t as immaterial as it seems.
As a staff accountant who has often been the one begging, I get it. You probably didn’t go to school for accounting, and that’s okay. Any course that I took in college that wasn't accounting probably caused me as much pain as Excel causes you. That’s why I build customized tax work papers, while you build whatever it is your business excels at. But here’s the thing: you’re likely tired of paying your CPA more every year to fix problems that keep piling up and getting worse every tax season.
My name is Teddy, and I am the founder of Modoc Records. With a vision to help small business owners simplify their financial record-keeping and reduce stress during tax season, I’m here to offer a personalized approach. Let’s work together on your record-keeping system—whether it’s clean-up, maintenance, design, or implementation.
Reach out to Modoc Records today, and let’s get your books in order so you can focus on what you do best—growing your business.