Accountant Or Bookkeeper?

  • Thread starter Thread starter ccrossley
  • Start date Start date
C

ccrossley

New member
In a studio business, can you hire an Accountant to serve as the Bookkeeper too? Or are they generally two separate jobs? I'm asking because if i want to cut the budget, could this be possible to free up some of the payroll expenses.

ccrossley
 
Most small CPA firms will be set up to do both. Even one-woman shops (women are pretty much taking over accounting) will often do your bookkeeping if you pay them.

The question is, do you want to pay for bookkeeping? Learning the basics ain't that hard. Pay your accountant to train you in the basics of Quickbooks. Pay them to set up your QB file with an invoice format that works for your business, and use it! Pay them to set up your chart of accounts. Then stick to that. All you have to do then is enter the checks you cut, and if you have to guess at where to post it, PLEASE put a useful description in the memo field. Use the Invoice feature to enter your receipts and then deposit against the invoices.

That's pretty much it. Then you just turn over your QB file to your accountant at year-end, and they can dig for any info they need to fix your books and do your taxes.

Oh, if you have employees, definitely hire out payroll. Often the accountants will be more efficient at really small payrolls than the payroll service companies. Just ask, they will generally be happy to help you out . . .
 
First off - any business person should either keep their own books - or monitor the entries closely. The business world is full of stories in which accountants/bookeepers has stolen money and put their employers out of business. Basic bookeeping is relatively easy to manage - and I highly recommend you learn how to do it. No one - repeat no one - will watch your finances and cover your ass better than you will.

As indicated, many/most accountants (in particular the one person shops) often can provide the both bookeeping and payroll services - for a price. If you do choose to have someone do your books/payroll - then choose a seperate accountant/CPA to review your financial statements annually.

Now - to get started. Establish a budget and a general business plan - perhaps hiring an accounted to avoid certain "landmines" may make good sense.
 
mshilarious has the plan for you. Quickbooks is easy to learn, comprehensive enough for your business needs and your accountant will dig you forever.:cool:
 
Back
Top