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lisamarie_625 | What does the CPA need to do taxes?? |
I am starting work for a dentist as a bookkeeper and my 1st job is getting him caught up. His CPA is screaming at him to get the stuff so he can do his 2006 & 2007 taxes! He asked me about reconciling accounts & adding new accounts. Yes, can do....BUT what else will the CPA need?!?
I am sure he will tell me but im just trying to get a head start into what i am getting myself into :P
thanks for any help!! |
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exirsman
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He will need at least the following:
Annual Profit & Loss Statement with expenses categorized
List of Furniture, Equipment & Software Purchased including date and amount per item
Professional Dues & Education Costs during each year
Payroll Records
Copy of last filed tax return (if he didn't do it)
Personal records such as Mortgage Statement, Real Estate Taxes, Charity, dependents info, Spouse W2 etc |
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bostonianinmo
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You'll have to ask the CPA. At the very least he'll need all cash receipts and cash disbursements journals, asset records and depreciation schedules, payroll records, etc. |
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Mathew
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Build a good Profit and Expense statement with as much detail as you can provide. That will be a good start. |
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Angela D
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If your CPA is a good one, they should provide you with a list of everthing they need. Ask them for a checklist. |
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Judy1
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The CPA will need for all of the accounting records to be brought up to date. Without knowing what hasn't been done, no way to say. If all the information is there and it's just not entered into the accounting system, might not be too bad, but if info is missing, could be a mess.
Good luck. |
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CB CPA in TN
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You might start with a prayer! "Bless me, Lord; for I have sinned!" What have you gotten yourself into!
Shouldn't be too hard to do unless you're having to answer the phone, make appts, etc. Figure on maybe 2 hours each month to record all the transactions (checks written, deposits made) but if you're having to post payments to patients' accounts individually, then you may have a huge undertaking.
If you're using QuickBooks or Peachtree or some other program for doing the accounting, you should take it month by month and reconcile each month as you go along. Otherwise, you'll end up with sorting thru years of transactions and will never get thru.
I don't exactly know what you mean by adding new accounts - for patients or for categories of expense?
Best to call the CPA upfront and get a list of what they require. Some want more info than others.
Good luck! |
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chrome
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main things of course are receipts and invoices:
1. for every thing the office bought and paid for - all the business expenses ==> all receipts
2. all of his income, all invoices that were paid by his customers, interest on his business accounts, any other sources ( like maybe he rents out part of his office / building )
get those two major groups together will be more than enough to get the CPA started, he'll need more as he works his way through that lot.
gudluk, sounds like your Doc is lucky to have your help |
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Ilikegirls
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because they do. |
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