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Tax prep question
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jakescia
Posted 3/26/2020 21:42 (#8141853 - in reply to #8140929)
Subject: RE: Tax prep question



Oskaloosa, Iowa 52577
They should be able to provide you with a detailed billing by account caption. That would be a rough estimate as to the time spent on cash, On inventories, on property and equipment, on short term payables, long-term payables, and any other line item that would be handled.

I would bet money that a bunch of time was consumed by your seven bank accounts, and making sure that those transactions were handled properly within the books.

If you are willing to spend that much time and effort for budgeting, then the CPA firm should be teaching you how to budget with in the books, as compared to a physical allocation of cash.

Obviously, the above is merely one person’s opinion.
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