As strange as it may seem, we are working with a number of clients who maintain no books or records. After we created some semblance of order with their records, we could then prepare the tax returns for them.
When we finally get a chance to present the returns to the clients, they are amazed that they had profit and that they owe money.
After we review all of the source documents with them, showing that the cash balance in their checking account is higher on December 31 than it was on January 1, they reluctantly admit that maybe 2022 was a better year than 2021.
I don’t understand how a business can survive the lean times with no tools to assist in management of the company. The checkbook only show you so much, your bank balance online is only as good as the amount of cleared checks processed…
I have seen a million-dollar firm work with inaccurate excel spreadsheets and their bank balance. I have seen others live hand to mouth barely surviving. To understand what is happening and strategize a plan to grow you need data and accurate data.
We are willing to assist those who wish to do better, with their business.