Big CPA firm made a mistake...

[schirallicpa]

I suppose they blow it off as immaterial when their balance sheet doesn't add up by $2045.  But when I try to use it it kinda messes up my spreadsheet.  

Does my little heart good to show my client that they were way over-paying for inaccurate financials.

 

[Medlin Software, Dennis]

Every now and again I wonder if I should take the time to add some alphabet soup after my name. I have no work related need, it would just be personal. Time and time again, I get smacked in the face to remind me none of that matters (unless a professional or job requirement). I went down a rabbit hole "discussing" a payroll issue with someone with letters after their name (which is touted as having certain skills), and I realized I need to not waste my time. School of Life (or the infamous University of Mars for original Raider fans) is often better.

For grins, the issue is a "payroll pro" thinking employees choose the state for withholding, that domicile matters, and that working at home does not mean the employer created nexus in that home (work location). Happens the at home worker is in a different state, and the pro is arguing the employer does not have nexus in the work at home state.

It very much equates to an earlier topic where Tom (IIRC), not in TX, still has Bulldog area clients, and has to report income and pay tax to CA.

[Lee B]

It wouldn't surprise me if the trial balance is in balance.

All it takes is one account to be in the wrong category.

[Medlin Software, Dennis]

17 hours ago, Lee B said:

It wouldn't surprise me if the trial balance is in balance.

All it takes is one account to be in the wrong category.

Depending on the overall amounts, even 2k could well be within the "I see it, but the client is not going to pay me to track it down and is fine with it" number. Especially if the effect is internal only (wrong expense account for instance).

[Sara EA]

I don't like the practice of criticizing other professionals because it's not, well, very professional.  When a client brings me a return prepared by someone else, I never say "that person messed up," but maybe something like "s/he did this differently than I do" or the code changed that year or whatever.  We never know if the prior person had all the docs the client brings us, or if the client answered questions the same way.  I respect letters after names, like EA and CPA, because I know how hard it is to earn them.  And all of us, letters or not, make mistakes.  Think of McDonald's commercials.  They never even mention competitors (unlike their competitors) but just highlights how wonderful their own offerings are.  I disagree and have only been there maybe once in five years because it was the only quick place around, but that doesn't mean they don't know how to cook.

[Gail in Virginia]

On 5/10/2024 at 9:50 PM, Sara EA said:

I don't like the practice of criticizing other professionals because it's not, well, very professional.  When a client brings me a return prepared by someone else, I never say "that person messed up," but maybe something like "s/he did this differently than I do" or the code changed that year or whatever.  We never know if the prior person had all the docs the client brings us, or if the client answered questions the same way.  I respect letters after names, like EA and CPA, because I know how hard it is to earn them.  And all of us, letters or not, make mistakes.  Think of McDonald's commercials.  They never even mention competitors (unlike their competitors) but just highlights how wonderful their own offerings are.  I disagree and have only been there maybe once in five years because it was the only quick place around, but that doesn't mean they don't know how to cook.

 totally agree!

[Medlin Software, Dennis]

Sara has a great view. Still, there is something to be said about all remembering advice from anyone is really only as good as the E&O backing said advice. ESPECIALLY in accounting and tax practicing, since the odds of a mistake being caught are actually slim, many are fine pushing limits/living in the grey, some don't mind being wrong and asking for forgiveness, and so on. Add in the advice only being able to be as good as the information being fed, and there are often errors and misunderstandings. Oh, don't forget, someone called someone, and the someone who picked up the phone gave advice, so it must be true.