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Accountant or Quickbooks???

Discussion in 'Business Operations' started by Superiorlandscaping, Jan 1, 2003.

  1. Superiorlandscaping

    Superiorlandscaping LawnSite Member
    from Ma
    Posts: 62

    Great ideas!!
    Especially the about enter info into quickbooks every night, then quarterly and at end of the year go to the accountant.
     
  2. bruces

    bruces LawnSite Senior Member
    Posts: 648

    Also consider the cost vs benefit of using a professional. If you can bill $50 per hour for mowing or whatever services you are providing and it takes you 3 hours to deal with accounting issues, are you gaining anything if you do something that your accountant could do in 1 hour and charge you $100 per hour for.


    You just lost $50 ($150 revenue vs saving $100). Now if you do the bookkeeping at night when you can't be working, all you lost is your time. How much is your free time worth?

    This is how I approach the problem of taking equipment to the dealer vs trying to do repairs myself, what is it costing me in lost time and revenue vs what I have to pay out.

    Your best means to save money on accounting is do the basics yourself, data entry, etc. Maintain your basic Quickbooks. For complicated issues or questions turn it over to your accountant or call them for help. They might answer in 5 minutes what you spend 2 hours trying to figure out.

    That way you have done the time consuming part and are seeing what you are spending and making as you are entering billings and expenses.
     
  3. BRL

    BRL LawnSite Bronze Member
    Posts: 1,211

    "In my opinion, a combination of using an accountant for consultation and doing your books yourself using Quickbooks would be the be way to go."

    "Your best means to save money on accounting is do the basics yourself, data entry, etc. Maintain your basic Quickbooks. For complicated issues or questions turn it over to your accountant or call them for help. They might answer in 5 minutes what you spend 2 hours trying to figure out."

    These 2 comments from Bruces sum up my opinion. I thought I knew what I needed to know when I started, but in retrospect, I made some big mistakes with my QB that were timeconsuming to reverse & correct. I'm not an accountant, & I learned that the hard way LOL. Makes me think of the complaint I've seen posted here by some of us that goes something like this: contractor is mowing a lawn that the homeowner is fertilizing- incorrectly. We should let our accountants do what they are professionals at just like those homeowners should let us fertilize their lawns. Just an example to compare to.
     
  4. mike48114

    mike48114 LawnSite Member
    Posts: 124

    A CPA dosent claim to know how to cut grass, dont be the guy who thinks accounting is easy. The first time I met with my accountant I learned things I didnt even know i needed to worry about. Most people even small operations SAVE $ by having a accountiant. Good luck
     
  5. 1stclasslawns

    1stclasslawns LawnSite Senior Member
    Posts: 565

    I see these post and will put in my input also. Quickbooks is fine for the day to day stuff. But at tax time anyone who does 50 grand worth is a fool for NOT using a full fledged CPA, I have tried it and a CPA always got me more back then what they cost me. Even if all I had was a regular job I would use a CPA. The knoweledge, experience,and expertise is well worth the expense.

    Hold it wait, I guess its about like the difference between hiring a real lawn professional or a scrub. I am a pro and will only hire a pro.


    No if's and's or but's.


    Jim
     

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