Accountant, PNL, Ryan discussed on That Business Show

Automatic TRANSCRIPT

I need that too i do the same thing i had a fulltime inhouse accountant she's fantastic but i also i do one more thing also my stepmom is a cpa and she actually i have her audit my books on a quarterly basis where she goes through and checks all reckon account reconciliation to make sure there's nothing funny going on that way at the end of the year you know you you don't get this huge huge surprise call the tax bill and we'll tell you is if if if my in house accountant didn't know that i audited i audit every count so they know that there's no there's no getting they're not pulling anything over my eyes you're getting checked on so answer the question is listener is that you want to have somebody inside do it but also for the big purposes have somebody outside do it my thing is it depends on what it is if i have to provide some to one of my lenders and it requires you know pnl's and balance sheets a lotta times i asked my corporate cpa to put something together for me that person doesn't work in my office the other thing we'd be careful with whoever's running your books in your office remember they're going to have access to data about all your employees you gotta make sure it's somebody who you know his either wellpaid or well ryan said i think it's a little bit for me i think it's a conflict of interest when you have the person inside doing the books and then you're gonna have to your taxes guy just yeah i would never do that be separated somebody balances plus is not a conflict of interest that's that is the one job you know whoever this is that that that asked this question that's probably one of the most important hires you'll ever make.

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