Tax Return Adjusting Entries

When you get your corporate, LLC, partnership, or other business tax return from your CPA or tax preparer, do they give you adjusting entries to import or manually input into your accounting system?  Do they review your QuickBooks file and advise you on how to record the transactions in a more effective manner?

Adjusting journal entries are so crucial to the success of your accounting system, and often many CPAs and tax preparers get so busy that they never get around to this important aspect of their preparation services.  If you do not receive adjusting journal entries, make sure you ask your tax preparer for them today.  These entries will correct any errors, make important reclassifications of transactions, record depreciation, and match your books to the tax return.

In some cases, if your QuickBooks file and/or accounting records are really poor, your accountant may suggest starting a new file rather than providing journal entries, but most of the time your tax preparer should be able to provide this service without much additional work.  In addition, you should ask for depreciation entries for the current year, and amortization schedules for any loans.

Make sure you are getting more than just a tax return from your CPA or tax preparer as any tax preparer can give you that.  You should expect your preparer to come alongside you aside you and advise and equip you so that you can be more successful, maximize your tax savings, and make solid financial decisions for your business.

If you are looking for or considering a new CPA, give me a call at 503.244.8844 or email at as I would love to hear from you and discuss our firm’s services.


About Brian Germer, CPA

CPA with Parsons and Germer CPAs, LLP in Portland, OR

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s