Today’s QuickBooks tip is a simple but effective way to save money on tax preparation and consulting expenses.
I get many calls from clients that are confused about where to post something. Usually it is something different such as the sale of an asset, sale of a business segment, or the purchase of an expensive software package. I recommend that my clients create an “Ask CPA Expense” account and an “Ask CPA Income” account. Then when a transaction comes up that they are unsure about they can post them here. This saves me time and by extension saves them money in consulting fees.