Company File

Discussion in 'Accounting' started by Ajay Sharma, Oct 30, 2014.

  1. Ajay Sharma

    Ajay Sharma Guest

    I am an outsourced accountant of a small business and basically just prepare their financial statements from the data they provide. Company needs a business valuation and has hired a CPA firm for that. Is it a common practice for a CPA firm to ask me for a copy of my (Quickbooks) Company file? All I really have is general ledger activities and depreciation schedules. Idon't handle their payroll or accounts payable sub-systems.

    Thanks for your help!
     
    Ajay Sharma, Oct 30, 2014
    #1
    1. Advertisements

  2. Ajay Sharma

    John Sowden Guest

    their financial statements from the data they provide.
    Company needs a business valuation and has hired a CPA firm for that.
    Is it a common practice for a CPA firm to ask me for a copy of my
    (Quickbooks)
    Company file? All I really have is general ledger activities and
    depreciation schedules. I don't handle their payroll or accounts
    payable sub-systems.
    As a business owner that does its own accounting through financial
    statements and tax returns internally, this is how I would respond:

    We just get the data you are asking for from the client. I suggest you
    contact them.

    (I would not want the CPA firm, which ended up presenting questionable
    data to a third party (the buyer) to say they got the data from Mr.
    Sharma. I also would not want to give the data my staff entered into
    our computer to someone for free, although the paltry sum you might
    charge would be dwarfed by the lawsuit from the buyer.)

    John Sowden
    American Sentry Systems, Inc.
     
    John Sowden, Nov 3, 2014
    #2
    1. Advertisements

  3. Ajay Sharma

    Ajay Sharma Guest

    Thank you so much John! Appreciate your reply.
     
    Ajay Sharma, Nov 11, 2014
    #3
    1. Advertisements

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments (here). After that, you can post your question and our members will help you out.