QuickBooks Online is Complemented by CFO Online Serviceby Lester Bahr, CPA on 08/24/17
Often time as a new – or existing – business owner completes the initial steps of setting up their business accounting in QuickBooks Online, they realize they have lots of questions. This is typically where my phone rings or I get an email asking for help. This is an important part of the process – to know what you don’t know and to reach out for expert guidance that will save you a lot of pain and the associated costs in the future.
One of the challenges small business owners often face is they feel like they must go it alone because they are too small to afford the benefit of a CFO who is looking out for and guiding their financial pathway. But, that is not the case. You do have options. Just as you’ve discovered the efficiency of running your business accounting on the cloud, you can also have access to the expertise of a seasoned professional to fill in those knowledge gaps for you where you need some help.
As an Advanced Certified QuickBooks Advisor with Intuit since 1999 I can be added as an accountant user to your QuickBooks Online company. This will then give me the ability to:
a complete review of your accounting setup and system preferences.
2. Review your chart of accounts design structure to ensure that it’s appropriate for your business entity type and the industry you operate in.
3. Set up your bank and credit card feeds and map and reconcile the download of transactions into the proper accounts for accurate financial statement presentation.
4. Assist you in the integration of other apps with QBO.
5. Advise you on what all your various federal, state(s), local, sales & use, business privilege, payroll and other tax filing compliance requirements are and make sure that you have filed all the appropriate applications and tax forms.
6. Help you to create budgets, structure financing options, oversee your operations on a periodic basis, plus all those one-time projects that pop up from time to time where you need some expert financial guidance to make decisions.
Among the obvious advantages for a small business owner in having access to a Virtual CFO online is that you are not committing to a large fixed cost in salary and benefits to acquire a specialized skill set that you may only need access to on an initial basis and then only periodically thereafter as the needs arise.