Why Is Quickbooks Used In Such A Different Way By Tax Preparers Versu

1.	Why Is Quickbooks Used In Such A Different Way By Tax Preparers Versus A Quickbooks User Doing Bookkeeping / Managing A Business?
Answer» TAX preparers and people that input DATA once per year just enter deposits and expenses and do not deal with Accounts Payable or Accounts Receivable which means they are working on “cash basis”. Where QuickBooks USERS doing bookkeeping typically enter day-to-day transactions and deal with OPEN invoices (A/R) and open bills (A/P) which means they are working on “accrual basis” Tax preparers and people that input data once per year just enter deposits and expenses and do not deal with Accounts Payable or Accounts Receivable which means they are working on “cash basis”. Where QuickBooks users doing bookkeeping typically enter day-to-day transactions and deal with open invoices (A/R) and open bills (A/P) which means they are working on “accrual basis”

Why Is Quickbooks Used In Such A Different Way By Tax Preparers Versus A Quickbooks User Doing Bookkeeping / Managing A Business?

Answer»

TAX preparers and people that input DATA once per year just enter deposits and expenses and do not deal with Accounts Payable or Accounts Receivable which means they are working on “cash basis”. Where QuickBooks USERS doing bookkeeping typically enter day-to-day transactions and deal with OPEN invoices (A/R) and open bills (A/P) which means they are working on “accrual basis”

Tax preparers and people that input data once per year just enter deposits and expenses and do not deal with Accounts Payable or Accounts Receivable which means they are working on “cash basis”. Where QuickBooks users doing bookkeeping typically enter day-to-day transactions and deal with open invoices (A/R) and open bills (A/P) which means they are working on “accrual basis”

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