Quickbooks or Accountant?

[Martinis Jackson]

Greetings BP Family

I am seeking advice on establishing an efficient process for keeping tabs on accounting. Our business is anticipating doing about 3-4 flips this year, so we are not expecting overly complex books. How are people handling keeping up with revenue, expenses and the like? I have heard quickbooks is a great resource or are we at the stage where we should be hiring an accountant? Looking forward to hearing ideas.

Best regards,

Martinis

[Lance Lvovsky]

One does not replace the other. Quickbooks is software. A good CPA not only can provide accounting advice, but is knowledgeable in tax compliance and tax planning.

For someone who is expecting 3 or 4 flips, I do recommend using Quickbooks. I always tell clients it is best to keep a set of books as that will help you stay organized while maintains entity formalities. Quickbooks is fairly simply for the average person to learn.