more-arw search

Q&A Forum

Bookkeeping Start Up

My parents have been preparing taxes with pen and paper as long as I can remember. Their CPA is requiring that they automate their tax preparation and have asked me to complete this process and continue to do their preparation in the future. While contemplating this, I decided I could bring on a few more clients and make my efforts a bit more profitable. I am pretty well versed in tax preparation, but have not used QB in the past. What would be the best version to support up to 10 small businesses (not corporations) from my home computer? One more thing, there is no internet service available where they live. Thank you.

Answers

Roger Hardie
Title: Financial Controller
Company: Expert Home
LinkedIn Profile
(Financial Controller, Expert Home) |

If you cannot use online/cloud software applications (they are very reasonable) go for the latest desktop version of QB. If the client is small and does not have accounting software then with QB you can upload the client bank statements into their your QB and then all you have to do is allocate the bank transactions.
So the beauty of the uploading the bank statements into QB is that the books are balanced from the start, you just have to allocate expenses & deposits.

You should also look at getting a neat.com receipt scanner. Typically a lot of small businesses just put receipts into a box and hand them off to their Book Keeper for their year end tax prep.
A neat scanner will have you 80% of the time to manually sort the receipts and will make you look very professional. Moreover the neat scanner produces an Excel file which you can use the find function to locate bank transactions from QB Bank up load. So if you have a irregular bank transaction say for $1267.98 you can use an excel find function and quickly locate the actual receipt.

1289 views
Topics
Products and Companies

Get Free Membership

By signing up, you will receive emails from Proformative regarding Proformative programs, events, community news and activity. You can withdraw your consent at any time. Contact Us.

Business Exchange

Browse the Business Exchange to find information, resources and peer reviews to help you select the right solution for your business.

Learn more

Contribute to Community

If you’re interested in learning more about contributing to your Proformative community, we have many ways for you to get involved. Please email content@proformative.com to learn more about becoming a speaker or contributing to the blogs/Q&A Forum.