When Marcia Hall and Tonya Maiseroulle of North Georgia Accounting Solutions work with clients who have started a new business, they almost always recommend that the company use Quickbooks for its accounting software.
Quickbooks is the most popular accounting software on the market because of its ease of use. But Tonya and Marcia have found that to save future headaches it’s best if their clients work with them from the beginning in setting up their Quickbooks account.
“While Quickbooks is a simple and effective tool for accounting purposes, if a company fails to properly set up things like the chart of accounts and sales, it can create delays and problems at tax time,” Tonya said. “We encourage clients who are starting a new business to let us work with them from the beginning so that they can get their Quickbooks account set up properly.”
Both Tonya and Marcia are enrolled agents and certified Quickbooks Pro Advisors.
“Even if we’re only going to do a company’s year-end taxes and the company has a bookkeeper who is handling the day-to-day and monthly entries in Quickbooks, the chart of accounts can sometimes be counter-intuitive,” Marcia said. “When a company involves us in the beginning, we can help simplify the process and streamline the information gathering when it’s time to put together W-2s and K-1s and other business tax forms.”
Not only does this help with taxes, but Marcia and Tonya both point out that setting up Quickbooks in the right way from the beginning is also important so that business owners can get accurate information about their business.
“Quickbooks is a powerful tool for small business owners,” Marcia said. “Quickbooks gives business owners the ability to create extremely valuable reports that can show the health of the business and be used to give business owners accurate information not only about their present situation, but information that allows them to predict where they are going.”
Marcia pointed out that if Quickbooks is set up the right way, it can tell a business owner which jobs are most valuable to them in terms of profits, which jobs take the most resources, and it can help owners direct their efforts to maximize profits.
But of course, not every new small business owner engages with an accounting firm immediately, and Tonya said the professionals at North Georgia Accounting Solutions are glad to work with existing businesses that need help straightening out a mess.
“We’ve seen a little of everything,” Tonya said. “What we’ve found is that when we have clients who have struggled with entering information into Quickbooks, we can always sort through whatever our clients have done and help them bring order to the chaos and set them on a path of getting more out of their software.
“We always tell them, ‘You pay a lot for this program, and you should set it up properly so that you are getting accurate reports and all the other benefits you can back out of it.”
If you’re starting a new business and need help setting up your Quickbooks accounts, or if you have an existing business and struggle to get accurate and informative reports, Tonya and Marcia of North Georgia Accounting Solutions are happy to help you get your business started on the right foot.