Comprehensive Guide to QuickBooks Accounting Professional/QuickBooks ProAdvisor

QuickBooks is one of the most popular & powerful accounting software suites in the current market. What an individual can do is equivalent to whole accountant teams used to do two decades ago!

In the current hi-tech world, many businesses are trying to make the most out of the software, specifically the use: whether it is CRM, accounting or project management software. Nowadays, most of the businesses are packed with distinct features, different versions, customizability, and these tools could often integrate with one another to automate or optimize business operations. A lot of complexities have given rise to a hybrid professional i.e a mix of bookkeeper or accountant & software management specialist known as a QuickBooks ProAdvisor.

A QuickBooks ProAdvisor is usually referred to an accounting/bookkeeping professional who is trained, tested, as well as certified by Intuit on a wide range of advanced, specific QuickBooks’ topics and subject matters. QuickBooks ProAdvisor certification involves comprehensive training, a 2 hour examination where you should score a minimum of 80%, and also an annual recertification exam.

If you are interested to become QuickBooks expert or QuickBooks ProAdvisor, iLead-the best Enrolled agent training institute in Hyderabad, offers a vast range of accounting courses of EAs, CPAs, US taxation courses, FPC and also QuickBooks ProAdvisor certification training in Hyderabad at super affordable packages. 

Who is a QuickBooks ProAdvisor and What They Do?

When you are an entrepreneur, perhaps your finances are critical to survival. Being an entrepreneur or a new small business owner usually means that you work as an accountant for a while. If you know you can’t manage, you’ve run out of time and energy to keep track of all your finances, or you’re just too old to do it yourself; you should consider hiring an accountant, bookkeeper and/or CPA. 

You do not want to create a mess by just hiring the cheapest people you can find. These are your finances they will be dealing with, so you want them to be well equipped and informed without going over your budget. What Makes Accountants, Accountants and/or CPAs Different? 

The answer is that you need to find someone who is a Certified QuickBooks ProAdvisor. QuickBooks ProAdvisor is a person who is trained by Intuit ProAdvisor Certification. With iLead’s extensive QuickBooks ProAdvisor certification training the candidates can gain expertise in QuickBooks Accounting Software to provide independent bookkeeping support and consultation support. 

Working with a QuickBooks ProAdvisor

With QuickBooks Certified ProAdvisor, you will be reviewing and working on your books with someone who is well versed in how QuickBooks works. Anyone who is certified with QuickBooks has taken lessons and courses that have taught them the ins and outs of working with the software.     

In addition, they are passed and certified. These people know how to solve any problem, even solving imbalanced balance sheets and technical problems with bank feeds. Another aspect of the QuickBooks certification is that they can also educate others on how to use QuickBooks. These skills can increase the productivity and efficiency of your business in every department. 

A QuickBooks Certified ProAdvisor is a professional accountant who does not have to be a CPA, but can be a small business advisor or chief accountant. They are experts in QuickBooks programs and accounting theory. With these people, the learning process is more rigorous, developed by Intuit (the company that developed QuickBooks). 

To get certified, they took several courses and passed a number of tests. To maintain its status, QuickBooks Certified ProAdvisor must take a certification exam each year. This means that they are up to date with the latest software developments. 

Benefits of Hiring a Certified QuickBooks ProAdvisor

When you have a certified QuickBooks ProAdvisor on your team, you have someone who is well versed in accounting and accounting services. They may simply act as outsourced bookkeeping for your small and/or medium-sized business. 

The following are some of the capabilities & benefits they bring:

  • Invoicing customers
  • Paying bills 
  • Reconciling your accounts 
  • Answer any technical questions 
  • Set up & customization of your QuickBooks software 
  • Troubleshoot technical issues/customizations 
  • Receive discounts on QuickBook Products
  • Notified with all new products & updates 

These professionals are your one stop shop for exceptional accounting and/or bookkeeping needs. If your consultant is also a certified public accountant, you may receive monthly/quarterly reports on the preparation of books and tax returns. This way, you can finally plan your tax season well with the same person. Your worries will be lessened knowing that these specific advisors also enforce the entire IRS code. 

QuickBooks Online

QuickBooks Online provides entrepreneurs and business owners with a convenient remote access option. Also gives accountants or your bookkeepers powerful access to information on the go. QuickBooks online service is the best-fit for service-based businesses.

QuickBooks accounting software helps you to create invoices, generate GST reports and much more with QuickBooks.

Features 

  • Cloud accounting 
  • Invoicing
  • Online banking 
  • Accounting Reports 
  • Cash Flow Management 
  • Time Tracking
  • Seamless collaboration to multiple users

There are many small-business accounting software solutions available in the market, but which version is right for you? With payroll or without? On-premise or cloud? Choose wisely.

QuickBooks Self-Employed

QuickBooks Online

QuickBooks Online ……..are some of the most used QuickBooks Software products.

QuickBooks Accountant is a special program developed by Intuit QuickBooks to meet the needs of accounting professionals. 

It allows you to perform and manage accounting tasks for multiple companies in one place. You can issue invoices, pay stubs, manage projects, access customer accounts, such as to find and correct input errors, and more with one product. Signing up for QuickBooks Accountant doesn’t take long. 

You will be prompted to enter information that is usually requested when registering on other websites. This includes your name, email address, and your company name. 

Once registration is complete, you will be granted access to the QuickBooks Online Accountant. All you need to sign in to your account is Internet access and your QuickBooks Online Accounting credentials.

Bottomline 

Working with a QuickBooks Certified Professional ProAdvisor versus someone just a QuickBooks Certified will make a big difference. Not only will you receive various privileges and perks, but you will also get peace of mind when it comes to the finances of your business. You will be working with a professional who continues their accounting, bookkeeping and QuickBooks recertification software training yearly. 

At iLead, we have certified professional QuickBooks consultants who are happy to help you and your business get back on your feet or save your finances. If you have any questions, please call us now!

Tax Preparation in the US? How an Enrolled Agent Helps With This & Role of an EA in Filing Taxes?

Most of us, at some point, need some kind of professional during tax filing. The IRS reports that the paid tax preparer reviewed more than half of the 150 million individual tax returns approximately filed every year. Many of these tax returns were filed with the help of a registered enrolled agent. 

If you are looking for tax preparation services or need an expert help, iLead Tax Academy –the No #1 enrolled agent training institute in Hyderabad offers reliable US tax consultancy services at very cost-effective prices.

We offer tax e-filing and annual returns filing services for all clients in varied sectors. Our expert CPAs and enrolled agents help you get your biggest refunds on time. In addition, if you want to pursue an accounting career, iLead offers the best enrolled agent training course in Hyderabad where you can embrace a recession-proof career.

In this article, we’ll take a look at what absolutely a registered enrolled agent is, what they can do for you, and why you should hire one to help you deal with your tax matters.

What is an Enrolled Agent and Why Should You Hire One?

An accredited enrolled Agent is a tax adviser who will represent you before the IRS-Internal Revenue Service, when you file your tax return, conduct an audit, resolve payment and recovery issues, or appeal a fine (for example). 

 Enrolled agents can get certified in 2 different ways:

  1. SEE Exam 

They can take a Special Entrance Exam (SEE), which covers all aspects of individual and corporate tax law, as well as issues related to tax representation, practice and procedures. Registered agents must also complete 72 hours of continuing education every three years to maintain their registered agent status. 

  1. IRS Working Experience     

If they have worked in the IRS for five years or more, they can obtain registered agent status without passing the SEE exam. Many registered enrolled agents are former IRS agents, so this option seems very popular. However, current IRS employees cannot be certified as registered agents. 

All registered agents also successfully passed the background check. It is safe to say that when you contact a registered agent, you are talking to someone who has a thorough knowledge of tax laws. 

What can a registered enrolled agent do? 

Registered agents have so-called unlimited exercise rights (sometimes called unrestricted representation rights). This means that they can help anyone, individual, business, and any other organization in any aspect of taxation. 

Enrolled agents can:

  • Help you with tax planning
  • Provide tax advice and also help you navigate through complicated tax rules
  • Prepare & file your tax returns
  • Deal with audits, payments, or collection issues
  • Assist you to deal with any other tax concerns

The iLead team can help you with tax filing and any other tax matters. This means you will quickly receive complete and accurate books to use for any need. Accounting aspirants also get the best training with the comprehensive US taxation course in Hyderabad 

What is the difference between CPA, Registered agent & an attorney

Registered enrolled agents are not the only professional tax preparers with unlimited practice rights – they also have Certified Public Accountants (CPAs), attorneys, and accountants. So what’s the difference? The first significant difference is that registered agents are pure tax professionals focused solely on tax compliance issues, while most accountants and lawyers are not. So, if you think your taxes are too complicated to file using online software and you need professional help, consider hiring a registered agent. 

CPAs do not necessarily specialize in taxes. They provide a range of services covering the entire accounting profession, including corporate finance, wealth planning, financial planning and reporting. If you need an expert to teach you how to position your business to minimize taxes, talk to a CPA who has tax filing and compliance experience. 

Even lawyers do not necessarily specialize in tax compliance. If you are merging or closing a business, considering a deal, getting a lawsuit, or looking for help with anything else that goes beyond pure tax or accounting advice, seek attorney’s help. 

How can I be sure that my tax advisor is legal?

 If you are not sure about the legality of a particular tax advisor or tax preparer, the IRS recommends that you find one at the Better Business Bureau. You can also personally request the IRS to verify the identity of the registered agent by sending an email to [email protected] with the agent’s name, address (if applicable) and agent number. 

Avoid hiring someone who bases their commission on a percentage of your income tax refund – most licensed professional tax preparers will never charge you such a fee. Also make sure they issue an electronic file as the IRS requires tax preparers to electronically file more than 10 clients. 

Never submit a tax document to the IRS without first verifying it, and make sure the originator signs the documents and includes a Taxpayer Identification Number (PTIN). Licensed Registered Agents, CPAs, and Attorneys have PTINs and are required by law to include them on all returns they are paid to complete. Also, never sign a blank statement.    

If your compiler asks, this is one of the most reliable signs that you are dealing with a tax preparation scam. 

So how can I hire a registered agent? 

Enrolled agents are committed  tax professionals who can help you with tax planning, prepare tax returns for you, and represent you in tax court if you run into problems with the IRS. If you have a tax issue that doesn’t require the involvement of a CPA or attorney, your best bet is to hire a certified enrolled agent. But how exactly are you going to hire him?     

In addition to keeping records, Bench can put you in touch with a Certified Registered Agent. Log into our network of accountants, ask to be contacted by a registered agent and we will help you set up correctly. You can also find the National Association of enrolled agents from the IRS directory.

The Takeaway    

Taxation is not always easy, especially if you are a freelancer or small business owner with special tax needs. A CPA or registered EA expert can help you navigate the tax code, make sure you fill out your taxes correctly, and save you a lot of tax season stress. 

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