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Orange Sunshine posted:Our accountant is totally incompetent, and so ought to be replaced one way or another. I catch him making mistakes on our monthly profit and loss statements all the time, and he does a variety of other things wrong. Having a CPA doing bookkeeping, sales tax and payroll is a waste or professional fees. The CPA in question probably doesn't even want that type of work. Do that stuff in house (or just get ADP and a part time bookkeeper). The value we add (speaking as a tax manager) is not worth the fees for most clients - especially not for restaurants. Have him (or someone with the appropriate background) do the annual tax returns because most retail tax software doesn't do a very good job with that stuff, and the rules for depreciation/inventory/etc can be rather complicated for someone who doesn't handle that stuff regularly. Assuming you only have one entity for these restaurants, it's only one state, your bookkeeping isn't total trash, and you don't live in like NYC the tax return itself shouldn't run for more than 3 thousand give or take. Just my 2 cents.
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Sep 13, 2016 13:09
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Admiral101 posted:you don't live in like NYC Jesus man, trigger warning that poo poo.
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Sep 14, 2016 00:29
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Does anyone have a recommendation as to payroll software? I will be doing the bookkeeping for my family business, which has 2 restaurants and about 35 employees. The idea is to try to save money, so rather than use ADP or some other payroll company, we want to have me do it. We will still have an accountant to handle the taxes.
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Oct 24, 2016 11:05
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Orange Sunshine posted:Does anyone have a recommendation as to payroll software? Not sure what bookkeeping software you use, but most bookkeeping softwares (like quickbooks) have supplementary payroll softwares that interact with the bookkeeping end. Good luck.
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Oct 24, 2016 11:48
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Admiral101 posted:Not sure what bookkeeping software you use, but most bookkeeping softwares (like quickbooks) have supplementary payroll softwares that interact with the bookkeeping end. Good luck. Quickbooks with payroll has an extremely low rating on amazon.com, 45% of reviewers gave it 1 star out of 5. Even the positive reviews are negative if you actually read what they said.
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Oct 24, 2016 20:08
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Orange Sunshine posted:Quickbooks with payroll has an extremely low rating on amazon.com, 45% of reviewers gave it 1 star out of 5. Even the positive reviews are negative if you actually read what they said. Could very well be. I don't utilize those packages myself, just know what my clients use.
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Oct 24, 2016 22:00
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Orange Sunshine posted:Does anyone have a recommendation as to payroll software? If you're going to have an outside accountant do the taxes just have them handle the payrolls, too. Have them do Form 8027 as well.
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Oct 25, 2016 17:18
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Have you looked at Xero? I can't speak for its payroll but most of the small clients I work with seem happy with it for their bookkeeping.
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Oct 25, 2016 19:33
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My PIN is 4826 posted:Have you looked at Xero? I can't speak for its payroll but most of the small clients I work with seem happy with it for their bookkeeping. $126/month for the first 6 months, $180/month afterwards. This is very expensive for just payroll software.
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Oct 25, 2016 22:22
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Hey y'all I have a couple questions about accounting school - so I'm about to complete my Masters after Spring semester; I have some experience as a bookkeeper but none that (I don't think) will qualify as "experience" for CPA etc. So, a few questions: 1. Someone's told me to go ahead and try to knock out the CPA exam right after I graduate, and worry about the work experience after, since all the schooling will be fresh in my head. Opinions? Can I take the exam before I have the work experience? I'm in NC if that makes a dif, I can't find any information that says I HAVE to have the work experience before I sit for the exam, just before I actually get the cert 2. My professor says I should go ahead and knock out the CFE exam while I'm in school, for similar reasons (I'm eventually hoping to get into forensic/investigative, basically as soon as I can but understand I likely need years of experience first) - is anyone here a CFE? How hard is the exam? He's making it out like a child could pass. 3. My program has a comprehensive exam, and if you don't pass after your second try you don't get to try again and you don't get a degree, just a year of wasted time. Is this normal/standard for MSA programs? Has me a bit nervous, especially because I didn't know about it until I was a semester deep into the program. Thanks in advance love ya.
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Oct 26, 2016 03:56
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If I could do it all again, I would get on it immediately after school. If eligible. Everything after that can be worked out after getting the most important part out of the way.
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Oct 26, 2016 04:04
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Seriously take that poo poo ASAP. You do not want to spend your precious free time out in the working world going through tedious MCQs and sims. You can read the license requirements at nccpaboard.gov but there is no timeframe on when you need to complete which requirement first. Are you at Wake Forest? I know they have a mandatory CPA exam (and ECU). You'll be fine with the programs.
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Oct 26, 2016 14:05
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If you have the time and money to study/take it right after school definitely do so. Its so much easier than trying to do it while also working.
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Oct 26, 2016 16:01
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I wish I had taken the CPA immediately. Now I'm a decade into my career and a tax manager at a regional firm. They want me to get my CPA, but I really couldn't give two shits about it. I have my EA and the only thing the CPA would grant me is street cred. My clients all just assume I'm a CPA anyway. After reviewing some CPAs work I'm not impressed. Couldn't Pass Again
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Oct 26, 2016 16:09
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I'm quitting my full time job (keeping the part time one) to study for it because I'm a big dummy with bad study habits, so I want to reiterate getting it done before working. It's not at all impossible to do while working, even during busy season, but some people have a harder time with it than others. Got a 64 on my last section, so it's within reach.
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Oct 26, 2016 16:49
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Ya the thing is I'm paying for tuition/living off of my savings now, and I can mb squeeze another 2 months out of it after graduation but then I'm basically depleted financially and will really need the paycheck. I don't think that's enough time to study for/pass all four, plus paying for them, plus paying for Rogers, etc etc. But since I'll prob be getting an entry level sort of position right out the box I'm hoping I have time/focus to spare for getting it done. Maybe I'll try to overlap the studying with my final semester of classes, and try to take a section as soon as I graduate to get a jump... Honestly I'd skip the CPA and just get the CFE and roll onwards into the sunset but I'm told that, if my eventual goal is to work in the litigation side of things, I basically need the CPA for credibility. I'm not at Wake I'm doing my program online through Texas A&M (it was my cheapest option and, as I said, doing this on my own dime - debt free and trying to keep it that way) Any feedback on the CFE or the exit exam for my program?
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Oct 26, 2016 16:52
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Just do like a friend of mine and join Big 4 and knock out the CPA within first year of working. I mean she only worked and studied for a year and I never saw her, but she got it done.
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Oct 27, 2016 15:28
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Orange Sunshine posted:$126/month for the first 6 months, $180/month afterwards. This is very expensive for just payroll software. The alternative is worse. DIY payroll sucks the energy and time out of any business owner. Spend that time constructively growing your business instead.
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Oct 29, 2016 08:51
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Mandalay posted:The alternative is worse. DIY payroll sucks the energy and time out of any business owner. Spend that time constructively growing your business instead. The point is to find something useful for me to do within the business. I am not going to be of use in growing the business. The alternative would be me sweeping and mopping the floors at night or things of that nature.
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Oct 29, 2016 09:29
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Xero is the SAAS equivalent of dumping a shoebox full of receipts on your accountant.
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Oct 29, 2016 18:13
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Kontradaz posted:Just do like a friend of mine and join Big 4 and knock out the CPA within first year of working. I mean she only worked and studied for a year and I never saw her, but she got it done. Orange Sunshine posted:The point is to find something useful for me to do within the business. I am not going to be of use in growing the business. The alternative would be me sweeping and mopping the floors at night or things of that nature.
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Oct 30, 2016 19:26
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Good evening ladies and gents, Glad I found this thread, as I have a question pertaining to myself and a Master of Professional Accountancy. Here is my situation/background: * I am a five year Marine Corps veteran, currently a senior studying Economics at UC Davis, with a not so stellar GPA - 3.28 from university, and 3.67 from community college, roughly 3.4 cumulative total. * Currently an intern in the Morgan Stanley Financial Training Program. * I was informed that I will would be able to graduate ahead of originally scheduled. Originally, the advisers said it will take until Dec. 2017, now since their system updated I will be able to finish Spring 2017 * With that said, I will make the decision of whether to push my graduation to Dec. 2017 so I can complete another internship (if chosen for a worthwhile one.) So here is my dilemma. I will be 29 years old by the time I graduate, with only a BA in Economics, and five years of military experience. Due to the fact that most 29 year old's will have years of job experience, I am at a disadvantage. I was thinking about earning a Masters in Professional Accountancy (from UC Davis), and then get my CPA. In the short-term, MPAc will only take 9 months, and add an extra credential to my resume, as well as some more experience. The MPAc will set me up for success on the CPA. Again, all these options are assuming I do not land an internship for Summer 2017 and/or I do not land a job between now and potential graduation in Spring 2017. Note: Money is not an issue. I have my military benefits and a financial benefactor. I appreciate your time and advice!
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Oct 31, 2016 07:39
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mad_Thick posted:Good evening ladies and gents, 1). Nobody will care about your GPA after you have a CPA license/year of work experience under your belt. 2). CPA license is leagues more important than academic graduate degrees. Get your license, get your license, get your license, get your license. If you want a career out of public accounting, your CPA license is more important than any other type of credential by a mile. Private industry might eat up graduate degrees, but I promise you that if you have more than a couple years of experience in public accounting under your belt, people will start asking you: "well... why aren't you licensed yet?" If you graduate ahead of time, and can't land worthwhile intern experience, GET SOME SECTIONS PASSED. That will put you head and shoulders over any other candidate applying for a full time job. I'm speaking of this as someone who makes hiring decisions for our department in a national CPA firm. Admiral101 fucked around with this message at 03:26 on Nov 1, 2016 |
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Nov 1, 2016 03:21
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Admiral101 posted:1). Nobody will care about your GPA after you have a CPA license/year of work experience under your belt. Thank you for the response mate! After looking over some CPA exam track programs, I will just end up completing the courses I need through a CPA Track program, such as UC Berkeley Extension or another UC extension. As you stated, there is really no point for the Masters, plus the fact the Masters is about 50k which 10x the cost of track programs. I'll start researching and creating my plan of action, such as taking courses in block that correspond to sections on the CPA exam. Admiral101, if you have any other advice, I greatly appreciate any knowledge you could drop on me. Thanks again.
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Nov 1, 2016 05:23
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Orange Sunshine posted:The point is to find something useful for me to do within the business. I am not going to be of use in growing the business. The alternative would be me sweeping and mopping the floors at night or things of that nature. You're not going to make it in accounting if you don't know how to pass to buck and then make yourself look busier than you actually are.
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Nov 1, 2016 18:40
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Starting next year, I'd like to begin knocking out the courses for the CPA. I'm trying to create a strategy for completing courses that corresponds to each particular test of the CPA. Such as the Auditing Exam, which course should I take directly before this test. Same goes for the other exams. Basically I want to take courses that concentrate on each exam. Any thoughts, ideas or experience would be helpful. Thanks! mad_Thick fucked around with this message at 22:55 on Nov 11, 2016 |
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Nov 11, 2016 22:49
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mad_Thick posted:Starting next year, I'd like to begin knocking out the courses for the CPA. I'm trying to create a strategy for completing courses that corresponds to each particular test of the CPA. Such as the Auditing Exam, which course should I take directly before this test. Same goes for the other exams. Basically I want to take courses that concentrate on each exam. Are you in grad school/upperclassman undergrad? Basically you'll just want to take the course that most corresponds to each section. Take an audit class for audit, take a tax class for REG, take a financial accounting (also a government/nonprofit) course for FAR, and cost or something for BEC. Personally I'd just buy a review course and use it, it will be far better focused than a class at school. If you can, try and knock out the CPA exam before April, it's gonna get harder.
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Nov 11, 2016 23:03
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Hurt Whitey Maybe posted:Are you in grad school/upperclassman undergrad? Basically you'll just want to take the course that most corresponds to each section. Take an audit class for audit, take a tax class for REG, take a financial accounting (also a government/nonprofit) course for FAR, and cost or something for BEC. I'm an upperclass Economics undergrad. I should be finished with my degree by Spring 2017. I still need the required accounting/business courses. I'm going to sit down with a school counselor and see if they can hash out what course I still need to complete because the course requirements for California is confusing. I think I can complete the required courses through my previous community college online. I'll also do a CPA review course, Wiley CPAexcel looks promising. mad_Thick fucked around with this message at 07:29 on Nov 12, 2016 |
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Nov 12, 2016 06:40
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Just my two cents, I used jaeger and ninja a couple of years back. Passed all first time , and felt very prepared for all sections. Grand total was under $1500 i believe (not included exam fees and board fees)
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Nov 15, 2016 07:11
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Lord of Garbagemen posted:Just my two cents, I used jaeger and ninja a couple of years back. Passed all first time , and felt very prepared for all sections. Grand total was under $1500 i believe (not included exam fees and board fees) Can you recall how many total hours per section, and over how many months?
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Nov 15, 2016 15:52
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Moneyball posted:Can you recall how many total hours per section, and over how many months? I did it in 4 testing periods (one per period) My plan was as follows in order of tests taken: Far: I shot for 2-3 hours a day after work, and 4 hours each on Sat and Sunday (79%) (taken in november y1) Bec: Total time was around 40-50 hours (this one is really easy) (83%) (taken in january y2) Aud: 2 hours for for days during the work week, and 2-3 hours on sunday and saturday (88%) (taken in may year 2) Reg: 2 hours 4 times a week (I work in tax though so it was very easy for me) (90%) (taken in august y2) If I were to do it again: Far reg/aud (whichever one you don't work in) the one you don't take second BEC Don't take another till you pass FAR.
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Nov 15, 2016 20:30
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Agreed with getting FAR done first. If any of the sections are going to screw you it will probably be FAR.
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Nov 15, 2016 21:03
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Hey, question for the seasoned CPAs: Where are you getting your CPE? The AICPA seems crazy expensive to me.
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Nov 16, 2016 13:29
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I've been using Thompson Reuters. Sign up for a 1yr deal 6 months into your license year, do year 1 CPE right away and then do year 2 before the subscription expires. Around $250 I think and it gets you both years worth of CPE. My employer even paid for it last time, and I'm not even in accounting anymore!
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Nov 16, 2016 18:08
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chupacabraTERROR posted:I've been using Thompson Reuters. Sign up for a 1yr deal 6 months into your license year, do year 1 CPE right away and then do year 2 before the subscription expires. Around $250 I think and it gets you both years worth of CPE. My employer even paid for it last time, and I'm not even in accounting anymore! Same. Checkpointlearning.thomsonreuters.com If your company does decide to spring for a subscription there, I believe you can transfer accounts as well.
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Nov 16, 2016 21:41
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http://www.latimes.com/local/lanow/la-me-dwp-overcharge-20161116-story.htmlLos Angeles DWP seeking $67.5mil+ in damages from PwC for failed utility billing posted:
For motivation to get that CPA done.
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Nov 19, 2016 03:59
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Watching Westworld while testing IT SOX controls is irritating. Delos better be private or they'll have major issues with their administrative access and change management controls 
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Nov 21, 2016 20:41
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Girlfriend in a masters tax program is worried about tax law restructuring from the new administration loving with her job prospects. Anyone here have any idea if that's a legit thing to worry about?
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Dec 1, 2016 04:13
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No, everyone will still need to file taxes, and if things do change drastically, then there will be more work than ever as people restructure in response. Perhaps long term, but I somehow doubt this is ever really going to get less complex. My firm is still hiring aggressively. Does she have an internship lined up? That tends to be the easiest way into the big firms, but there are still plenty of opportunities regardless.
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Dec 1, 2016 04:50
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Yeah she does. Thanks, I'll her know she can calm down a bit.
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Dec 1, 2016 05:26
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