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Central Illinois | I decided to get an accountant, and gave him a spreadsheet at the end of the year. Eventually, we grew to the point of needing a part time secretary/bookkeeper. Set her up on Quickbooks for two businesses, one with a payroll. Switched accountants also, and meet with him quarterly, the most important one being in early December to do year end planning. Added a separate business that does about 1.6 million a year, and just added son's farming operation to her duties, so she keeps records for four businesses, two of which have payrolls. Son uses a different accountant, but with same firm as mine. Each accountant gets monthly printouts and updates, reviews for any errors or adjustments, and sends any needed corrections back to book keeper. We get a separate report mailed to our house, not office, to keep us aware of any needed items or problems. For these businesses totaling around four million a year, I would consider the $3500 to $4000 spent for his fees very reasonable.
One of the businesses was audited just recently for 2010. IRS auditor and my accountant was in my office for two and one half days. Auditor couldn't find a penny in error, and accountant didn't charge me a penny either. Said it was part of his job. And I didn't have to do a thing, except meet with with them the first day and explain to her how ownership of the businesses was handled. Accountant then showed me the door and said stay away. He didn't have to say it twice. | |
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bookkeeping question
