Harmon & Company, CPAs, LLC offers clients a full complement of accounting, tax, and financial services to effectively and efficiently manage their business from strategy to follow-up.
Why Harmon & Company, CPAs, LLC?
Harmon & Company, CPAs, LLC offers the breadth of services clients get with larger accounting firms. What sets us apart is that we provide the most experienced team on every client account, and we save our clients money.
Working Ownership. John Harmon has 29 years of experience in accounting. Many larger accounting firms reserve their managing partners for large companies, while giving the day-to-day work to junior accountants, or third-party vendors who work overseas. John insists on offering his high level of expertise to every one of his clients. The result is more a thorough, accurate, higher quality end product.
The Efficiency Equation
Whether you are starting a business or you are established, one rule of thumb applies to everyone: Little expenses add up to becoming big expenses. That includes the invoice from your accountant. Our Efficiency Equation allows you to help reduce the cost, and improve the quality of your accounting.
When we ask our new and prospective clients, What do you pay your accountant for? The most common answers we received were: “To figure out my taxes for my business,” or, “So that my business stays compliant.”
Hiring an accountant should contribute to your peace of mind.
Traditionally, accounting services would include organizing your receipts and files, and simple typing from your software to their firm’s software. Those tasks can be time consuming, adding to your bill. The tasks also take accountants away from the practice of accounting, potentially missing business and tax opportunities, and affecting overall quality.
At Harmon & Company, CPAs, LLC, we believe that preparation is primary. Whether you are technically savvy or you barely use a computer, we have a simple process you may follow that will help reduce your bill and help to ensure the highest quality even before we start.
Contact us to learn more about how to build and apply a more efficient solution to your accounting and tax needs.
Traditionally, accounting “services” includes a significant amount of hours simply transposing data from one platform to another – client’s Quickbooks to a firm’s software platform. In other words, typing. This can distract tax professionals from identifying business and tax opportunities, and takes accountants away from the practice of accounting, potentially missing business and tax opportunities, and affecting overall quality.
What can businesses do about this? Here are some suggestions:
- If you’re a “no-technology” business owner:
- Make sure you get clear copies of all bank and credit card statements.
- Some bank statement’s periods end on a date other than the last day of the month. If this is the case for your bank statements, be sure to include the statement that ends in the January of the tax year. Also include the statements for January (preferably up to March) of the year after the tax year so your accountant can properly reconcile your bank accounts.
- Credit card statement periods almost always end on a date other than the last day of the month. As such, be sure to include the statement that ends in the January of the tax year AND January of the next year.
- Try to move onto category 2, the “low-tech” person.
- If you’re a low technology business owner:
- In addition to pdf/paper bank statements, obtain a download of the year’s bank activity in a CSV or Excel format through your bank’s website.
- Also download a Quickbooks format file for the year if you haven’t kept records through the year.
- Although these suggestions use your computer, banks have made it much easier to download activity.
- If you’re a “technically savvy” business owner:
- Keep on top of your accounting through the year. Many, if not most tax saving opportunities, are lost after year end. The so called “11 month analysis” in December can pay big dividends in acting upon time sensitive tax saving opportunities.
- Reconciling your bank accounts periodically throughout the year can actually save you time at year end. You may be looking for 1-2 errors per month as opposed to 12-24 errors at year end. The information will also be fresher in your mind.
- Learn Quickbooks or use a qualified bookkeeping service that regularly serves small businesses.
- If you do not have inventory or complex customer billing, consider using the “Bank Feeds” function in Quickbooks. That allows you to download your bank activity directly into Quickbooks.
- Quickbooks for Mac is not compatible with your accountant’s Quickbooks and the features and functionality are not current. We recommend you do not buy it. If you use it now, we recommend switching to Quickbooks Online.
- Quicken is built for personal use, not businesses. As such, I absolutely do not recommend it for business. It is simple to move a Quicken file over to Quickbooks. Find out how by contacting us now.
- Develop a concrete plan with your accountant to your mutual benefit.
- Ask what specific information you can provide in advance of tax season that will enable your accountant to optimize your tax and business opportunities.
- What formats does your accountant prefer to receive in order to minimize data entry, converting that to value added time.
- Ask your accountant how his systems integrate, or can integrate, with your systems. Does your accountant access your Quickbooks Online? Does your accountant have the Accountant’s version of Quickbooks Online or Desktop (this enables the accountant to review and correct errors much faster than a standard Quickbooks)?
- Ask your accountant what manual processes he performs that could possibly be automated.
Contact us to speak with an experienced CPA.