FREQUENTLY ASKED QUESTIONS

  • Does Arrington Solutions LLC use any accounting software other than QuickBooks?​

    • No. To be sure that we are offering the most efficient accounting services, we have chosen to work solely with one accounting software -- QuickBooks.

  • What if I want to manage my accounting in house, but I need a little guidance from a professional -- can you help?

    • Yes. Our accountants will provide QuickBooks training and consult with you on how to manage your own accounting. However, we strongly recommend scheduling a consultation to determine if this is the best fit for your business before making this decision. 

  • I have been in business for some time now, but I do not currently have an accounting management system in place. Can you help with this?

    • Yes. You will need to schedule a consultation so that we can accurately assess what your accounting management needs are and suggest the best solution for your business.

  • I have been using a previous accounting management system, but now I am looking to switch to something more robust. Can you help with this?

    • Yes. Our accountants will perform an accounting diagnostics to assess the current state of your accounting management system and suggest next steps.

  • I have not filed my taxes in a few years -- where should I start?

    • You will want to schedule a consultation with us to determine what tax filings are required and the next course of action needed. Our accountants will work with you to help you get current on your tax filings with the IRS.

  • What is a CPA and what makes them different from a bookkeeper?

    • A CPA is a certified public accountant licensed by their state board of accountancy to practice accounting. All CPA candidates must meet rigorous education requirements including 4-5 years at a college or university. CPA's are required to pass the uniform CPA exam and meet professional experience requirements before earning their certification. The CPA is one of the most highly sought after and used credentials. While there are bookkeepers who are also accountants, an accounting background is not a requirement for becoming a bookkeeping professional. Bookkeepers maintain accounting records but may have limited accounting knowledge.

  • How do I know I need an accountant?

    • We believe that it is best practice for every business to have an accountant who, at a minimum, assists with tax planning and preparation. A common mistake that business owners make is waiting too long to hire an accountant, which often has a negative impact on a company's bottom line. If your company has shown increasing revenues but profits remain stagnant-- you need an accountant. Furthermore, if you do not know what your company's revenues and profits are -- you definitely need an accountant.

  • Does a CPA give financial advice?

    • Yes, CPA's give financial planning advice specifically in the areas of budgeting, forecasting, and other complex financial matters. Financial planning can be broad in scope and can cover areas outside the CPA's area of expertise. While there are CPA's who are also personal financial specialists and can confidently give investment advice, not all CPA's are able to provide this type of financial planning. It is best to defer to a certified financial planner, chartered financial analyst, or a personal financial specialist for investment portfolio advice.

  • Is every tax preparer a CPA?

    • No. There are many paid tax preparers who are not accountants and do not hold any distinguishing credentials. Essentially, anyone can become a paid tax preparer, as barriers to entry are low. However, only attorneys, enrolled agents (EA's), and certified public accountants (CPA's) are able to represent their clients before the IRS. CPA's have unlimited representation rights before the IRS. 

  • What type of assurance do I get by hiring a CPA?

    • Working with a CPA provides assurance that you are working with an accounting expert who has mastered a significant body of knowledge. Additionally, CPA's are held to high character and ethical standards. You can be confident that CPA's are up to date on current accounting standards as they are required to complete specified levels of continuing education in order to maintain good standing. 

Still Have Questions? 

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