![]() There are three basic options for creating a QuickBooks data file that the CPA can use – Backup Copy, Portable Company File or Accountant’s Copy. At that point they may request you to provide a QuickBooks data file. ![]() Often times however the CPA needs access to the underlying transaction information due to federal or state tax reporting requirements. QuickBooks software can generate the basic financial statements – Balance Sheet, Income Statement (aka Profit & Loss) and Statement of Cash Flows-that serve as the basis of these returns. The month of January marks the time of year many businesses process the year-end closing of the books and send annual financial data to their CPA for use in preparing the income tax returns.
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