Vijay Sharma wrote:

- quote -

No need for you to furnish to the CPA firm.

Presumably you furnished copies of tax reports and copies of
all write up work (ledgers, journals, trial balances, etc)
to the client on a periodic (monthly? ) basis. Therefore
client can furnished copies of these to the CPA firm.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vijay Sharma" <SharmaV[at]Sutterhealth.org> wrote:

- quote -

I usually ask for the QB data file. The client can e-mail
it, FTP it, put it on a CD/DVD, etc. However they want. I
typically find it is more efficient to look at the P&L and
balance sheet and then decide on the reports I want. If I
don't have the data file then it takes longer as there are
at least 2 rounds of the client providing documents. And
often one of the reports from the second round leads to the
need for further reports.

Then if there are journal entries, I have to wait for
another set of reports.

--
Drew Edmundson, CPA
Cary, NC

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vijay Sharma" <SharmaV[at]Sutterhealth.org> wrote:

- quote -

Very common practice. I request the client QuickBooks file
all the time. It makes for a much more efficient tax return
preparation process. It saves accountant time and
therefore, the client money in terms of lower tax
preparation fees.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vijay Sharma" <SharmaV[at]Sutterhealth.org> wrote:

- quote -

I ask clients for all this info also.

--
Charles M. Shanes, CPA
Charles M. Shanes CPA, LLC
Richmond, VA
QuickBooks ProAdvisor
Microsoft MPAN Member for SBA
www.shanescpa.com
cshanes[at]-Delete-This-Nospam-shanescpa.com

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vijay Sharma" <SharmaV[at]Sutterhealth.org> wrote

- quote -

Clearly I'm not a big CPA firm by any measure (exceptions
for those smaller guys), but what they are requesting is a
little excessive for a tax preparations service.

On the pro side, they have the raw data in the QB files to
do a basic scan of the data to see if things look right for
the various accounts, and it provides some of the details
that may be necessary to have for the tax preparation.
Having some of the tax reports, payroll mainly, would be
helpful as I believe that what you report on the W-3 should
match the numbers reported on the tax returns as wages
expense. They're also able to reconcile the tax expense
using the same numbers.

On the con side, they might be opening themselves up to more
liability by having those details and not finding any errors
(if there are any). It's a lot of work and a burden on you
or the client to furnish that amount of details for a return
preparation.

The sales tax returns often do not tie back to the amount of
income reported on the financials due to other non-sales
income the company might have. The only payroll reports
that may be necessary would be the W-3 and annual 940.

To the degree that the client was given copies of payroll
and sales tax reports, they can make the copies (or you get
to bill for the time to recreate them).

I find it's a bit excessive to request as much as they are
asking for.

Of course, the client may have asked the big CPA firm to
check over your work, and having that QB data and the sales
and payroll reports would allow that.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Vijay Sharma" <Shar...[at]Sutterhealth.org> wrote:

- quote -

Paper report is generally sufficient, plus you will assist
in the event of any audit anyway, of course.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

I am a financial accountant and prepare Financial Statements
and payroll reports for a small client - Subway Restaurant -
as a side job.

My client will have a big CPA firm relatively speaking,
prepare the business partnership tax return and their
individual tax returns. The CPA firm for preparing tax
returns wants a CD of my Quickbooks in addition to all
payroll filings and sales tax return for the year. They say
they need the CD to build a history in case of audits. I
find the request for CD not normal but would like to hear
from you all what you think. What reports/documents do you
ask of your clients in such cases?

Thanks in advance for you input.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >