wyatt2
Member
- Location
- North Carolina
Looking for thoughts form small shop EC's. using something like Quickbooks for payroll or using a CPA. I don't see my self having more than 2 workers in the next 2 years.
software vs. CPA
- Thread starter wyatt2
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JohnE
Senior Member
- Location
- Milford, MA
Use quickbooks and use their payroll service!
We've used quickbooks for years and used their tax tables to do our own payroll, and had our accountant do the quartlies.
Well, somewhere along the line he made a mistake. After repeatedly thinking it was fixed, then getting IRS letters, late fees, etc. we found out that a mistake was made 4 years ago and the accountant was not correcting it properly. Instead, he was pulling payments from the next quarter and applying it to the previous. Vicious cycle as we were paying penalties, paying accountant to fix, in a revolving cycle. It's finally been rectified.
We switched to Quickbooks payroll where they do quartlies, W2's etc. They are also responsible for any mistakes.
My sister in law is a CPA, and CFO for a 150 million dollar company in NJ, and they use quickbooks payroll. She swears by it, and has had plenty of experience with the IRS.
We've used quickbooks for years and used their tax tables to do our own payroll, and had our accountant do the quartlies.
Well, somewhere along the line he made a mistake. After repeatedly thinking it was fixed, then getting IRS letters, late fees, etc. we found out that a mistake was made 4 years ago and the accountant was not correcting it properly. Instead, he was pulling payments from the next quarter and applying it to the previous. Vicious cycle as we were paying penalties, paying accountant to fix, in a revolving cycle. It's finally been rectified.
We switched to Quickbooks payroll where they do quartlies, W2's etc. They are also responsible for any mistakes.
My sister in law is a CPA, and CFO for a 150 million dollar company in NJ, and they use quickbooks payroll. She swears by it, and has had plenty of experience with the IRS.
hardworkingstiff
Senior Member
- Location
- Wilmington, NC
I guess I'm a tight wad. I use Quickbooks (1996 version w/2000 upgrade). I do all my own payroll. It's not hard and only takes a few minutes.
charlie tuna
Senior Member
- Location
- Florida
when i first went into business i sat down and talked to an accountant who knew i had little money and was willing to work with me and suggested his fee would grow along with my business. he told me to purchase a software thru nebs --it was called "one write plus" --- it has changed it's name now. the software did the payroll and maintained a log of recievables and payables. my wife handled the books and turned in the figure the accountant needed each month. then also the quarterly report. he set it up to where we just plugged in the numbers in the order that would match his system. i would meet with him to do my year end taxes. he never raised his fee from $175 per month because it went so smooth..... 25 years --no problem.
Best advice I can give you is to contact an accountant (CPA), and discuss what financial info is needed to do your business. I would interview 2 or 3 people. If you already have one, great! I would also interview 2-3 attorneys. Find someone you like! Some day these two guys (gals) will be your best friend. Both will let you know what you will need to do to get started and stay in business as far as paperwork, taxes, financials go.
The rest is up to you!
During the interview process definately discuss fees!
The rest is up to you!
During the interview process definately discuss fees!
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