Bookkeeping and accounting are related functions. However, there is an important distinction between them even though their functions overlap. Bookkeepers record and classify the day to day financial transactions that keep your business running smoothly and reconcile those transactions each month. While the accounting function is responsible for interpreting, analyzing and summarizing the financial data the bookkeeper has entered in order to file the necessary state and federal tax returns each year.
So many of our clients are the very best at what they do, but are somewhat intimidated by the accounting and bookkeeping side of their business. We hear all the time, “that’s what I have an accountant for,” yet when asked about certain entries made in their file by their CPA, often they don’t know why their accountant made the entry and what it’s for. It’s important to understand that the only person responsible for your file is you. Once you sign that tax return, you agree that everything on it is correct
That’s where we come in. We recognize that if you don’t know or understand, it’s likely because no one has ever explained it. Whether you never thought to ask or are intimidated by the subject, with J. Zollo & Associates, Inc., you can relax because you’re in a safe, judgment-free place. While your books are our business, you need to know the basics as well. We’re passionate about sharing the knowledge and educating you about your books.
QuickBooks maintains that by using their software, your bookkeeping processes become much more painless, which is true to a certain extent. However, the information the software requires in order to accurately maintain your books must be input by humans. That’s us! With J. Zollo & Associates, Inc., you remove the “Garbage in, garbage out” concept from the equation.
Our mission is to bridge the gap between you, your bookkeeping processes and your CPA, and bring peace to your life. We do it at a manageable pace and teach you along the way. Whether you hire a bookkeeper in-house or have us do it for you, it should be handled efficiently and cost effectively, and it should free up your time to do what you do best.