Like many business owners, you probably process hundreds of transactions each week. While recording customer orders or payments to vendors, it’s normal to overlook an occasional transaction, but those discrepancies can lead to serious problems later on. If you’ve noticed errors in your books, an experienced CPA firm will help identify the problem before you find yourself in financial trouble.

Why You Should Call a CPA Firm if You’ve Found Discrepancies in Your Business Records

1. Reconciling the Books

Depending on how in-depth the discrepancies are and how long they’ve taken place, reconciling the errors may require the in-depth expertise and professional experience. An accountant will ensure your books are accurate, eliminating potential problems with the IRS and giving you a clearer understanding of your company’s financial health.

2. Identifying the Issue

Accounting errors are often caused by a simple oversight, but in many cases, they indicate a more systemic problem in your bookkeeping procedures. In addition to correcting the issues you’ve already experienced, a CPA firm can identify the factors causing them in the first place and create a system to make accurate record-keeping easier.

3. Avoiding Severe Consequences

The long-term consequences of accounting errors can range from a few hours spent reconciling books to IRS audits and severe penalties. Discrepancies may also be indicators of employee theft, payroll fraud, or long-term errors that can cost your business thousands of dollars in the long run. Weighed against these potential consequences, hiring a CPA firm is a worthwhile investment.

Since 1992, Dianne M. Saunders, CPA has served business owners throughout Litchfield, CT, and the surrounding areas, providing a broad range of services with a personal touch. If you’ve discovered discrepancies in your books, you can rely on this respected CPA firm for cost-effective solutions and individualized attention. To discuss your issues and schedule an appointment, visit her online or call (860) 567-3022.