Many small businesses have a conversation with your accountant before, during and after the tax preparation process. This can be a costly mistake.
Does your accountant know your accounting software?
First of all, your accountant (CPA or EA) should have an understanding of the accounting software that you use. Most have significant experience with Quickbooks & Peachtree, but you should certainly confirm that with them. If you’re wondering what is the best and cheapest software for you, it really depends on your company size, industry & budget. Outright, Xero & Wave accounting all offer free versions or trials and are generally free for small businesses and freelancers. The larger names in the space as we mentioned before are Quickbooks, which has over half of the small business market, and then there’s Peachtree. Our advice to you is to use an accounting solution that works well for you and provides for a seamless transition when you hand over your books to your accountant. (more…)