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Old 11-27-2012, 10:51 PM
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Originally Posted by Roger View Post
To the OP: Your arrangement with the accountant seems a bit strange. Since he/she is doing income and expense work, h/s would need to know about the invoicing. And, if they need to know about invoicing, h/s would be specific on the rest of the procedure.

Any invoice has to be satisfied with an incoming payment. If h/s is managing incoming revenue, h/s would be managing your bank account. But, insuring the payments match the invoice is critical.

With what you have said, I would be surprised that h/s would assume the tasks, without being very specific on how h/s wants to handle the invoicing. Maybe I am not understanding your relationship with the accountant.

In QB, the invoice is created, and then processed to satisfaction when the payment arrives. Since these will be two separate tasks for you (both practically, and function-wise, this cannot happen.
I think he is creating a monthly invoice through MSword and billing off of that and then tracking payment history through MSexcel. Its a very basic way of doing it but does work as I have done it myself. You take your monthly income and expenses put them into a spreadsheet and get a list of totals for the year. Take your totals to the accountant and they plug the numbers into their software to give you your tax liabilty for the year.
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