Category: Uncategorized

Expense Tracking Tips

Expense Tracking Guide for Your Business

May 31, 2024 by Julie Lakric

Managing your finances is crucial for success as a small business owner. One essential aspect of financial management is expense tracking. Keeping a close eye on your business expenses allows you to monitor cash flow. Additionally, you’ll be able to identify cost-saving opportunities and make informed financial decisions. We at Marshall Jones specialize in providing small to mid-size businesses with accounting services. Discover our valuable expense-tracking tips to help your business thrive.

Establish an Expense Tracking System

To effectively track your business expenses, it’s important to establish a clear and organized system. Start by creating separate expense categories that align with your business needs, such as office supplies, utilities, marketing, and travel. Utilize accounting software or dedicated expense tracking tools to streamline the process and ensure accurate recording and categorization of expenses.

Maintain Accurate and Timely Records

Consistency and accuracy are key when it comes to expense tracking. Make it a habit to record expenses promptly, ideally on the day of the transaction. This helps prevent missed entries and ensures that your records are up to date. Keep track of receipts, invoices, and any supporting documents associated with each expense. These records not only serve as proof for tax purposes but also provide a comprehensive view of your business’s financial activities.

Leverage Technology for Tracking

Technology offers several tools that can simplify expense tracking. Explore expense management software or mobile apps. Many tools allow you to easily capture receipts, track mileage, and generate expense reports. These options can automate the process. Thus, you can minimize manual errors, and get visibility of your business’s spending.

Set Clear Expense Policies/Guidelines

Establishing clear expense policies for your small business ensures consistency. Consistent expense guidelines reduce the likelihood of fraudulent or unauthorized expenses. Clearly communicate these policies to your employees. Provide employees with expense report templates. Regularly update these policies to adapt to changing business needs and industry regulations.

Monitor and Analyze Expense Trends

Tracking expenses also involves analyzing trends and patterns. Regularly review your expense reports to identify areas of overspending, cost-saving opportunities, etc. Look for recurring expenses that can be optimized. If applicable, try to negotiate better deals with vendors to reduce costs. Monitoring expense trends helps you maintain healthy finances for your Atlanta small business.

Seek Professional Accounting Assistance

We take pride in providing personalized support to businesses in the Atlanta area. Our dedicated team of accounting professionals works closely with you to understand your specific needs. We offer proactive advice, actionable recommendations, and ongoing support to ensure that your expense-tracking processes are efficient and effective. You can rely on our expertise and professionalism to navigate the complexities of expense management with ease. Hiring Marshall Jones for expense tracking enables you to streamline your processes.  Contact us today for tailored solutions that can benefit your business.

Personalized Support and Guidance

Managing expenses can be complex, especially as your Atlanta small business grows. Seeking professional accounting assistance can provide valuable support. Professional accountants can help you navigate expense-tracking requirements. For instance, they can ensure compliance with tax regulations. Accountants can also provide strategic financial guidance tailored to your business needs. Our firm, Marshall Jones, offers expert CPAs and advisors to help with your accounting needs. 

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Contact Marshall Jones Today!

Do you need professional guidance on expense tracking for your small business? Follow our expense tracking tips. Don’t hesitate to contact Marshall Jones. Our team of experienced accountants can provide personalized assistance, help you streamline your expense tracking processes, and ensure compliance with tax regulations. Take control of your small business expenses and set the foundation for financial success. Contact Marshall Jones on our website to schedule a consultation.

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What a Board Should Look for in Financial Statements

May 31, 2024 by Julie Lakric

Reviewing financial statements to board of directors is a critical task board members may undertake to evaluate an organization’s compliance and budgetary status. To best identify potential risks and promote optimal financial management, it’s wise to pay attention to some key considerations. Follow these best practices for thoughtful, accurate evaluations of organizations’ financial situations.

Red Flags in Financial Statement Analysis

When an organization’s financial report to board of directors are under review, analysts should watch for a few markers of concern. Noticing potential areas for improvement can help you proactively address potential issues and manage the proper solutions promptly.

Throughout your organization’s evaluation, look out for red flag warning signs such as:

  • No liquidity reserve policy: While 33% of nonprofits don’t have a strategy to navigate recession, ensuring your organization develops the resources and plans necessary to recover is critical.
  • Negative cash flows from operations: Watch for negative cash flows — 50% of nonprofits have operating reserves for less than a month, and it’s vital to build up those resources.
  • Internal borrowing of donor-restricted funds: Organizations should maintain sufficient financial resources to support net assets with donor restrictions.
  • Negative or insufficient working capital: Among nonprofits, 7-8% have more liabilities than assets and are technically insolvent. They need to build up sufficient working capital to improve financial stability.
  • Extended line of credit: Having an extended line of credit can increase financial risk, so it’s wise to address this concern strategically.
  • Debt covenant violations: Organizations need to comply with debt covenant terms and avoid issues from increased collateral, interest rates or penalty payments.

What to Look for When Reviewing Financial Statements

While watching for red flags to investigate further, you’ll also want to evaluate metrics in the financial report to the board of directors that indicate the institution’s overall financial health. Knowing which issues to prioritize for examination can help you conduct a more thorough and valuable review for the organization. 

As you review the financial report for the board of directors, ask these essential questions to ensure a thorough assessment.

  • Has the organization’s endowment or investments recently suffered significant losses due to COVID-19 fears?
  • Do the footnotes properly tell the company’s story, accurately representing financial transactions and decisions?
  • Has management properly read, reviewed and taken ownership of the financials?
  • Are new accounting pronouncements that apply to your company being adopted on a timely basis?

 Keep in mind that newer pronouncements for nonprofits include the financial reporting standard and two standards for revenue recognition (ASC 606 and ASU 2018-08). The new lease standard will also be applicable in a couple of years.

Contact Marshall Jones for Trust Compliance and Accounting Services

Marshall Jones Certified Public Accountants And Advisors has been serving the Atlanta area for over 30 years, and we are committed to providing exceptional client support and expert services. We offer a range of tax and accounting services to help businesses and individuals manage their finances more successfully and accurately. With a highly accessible team, rapid response times and extensive industry expertise, we pride ourselves on meeting your requirements with quality solutions and support.

Whatever your financial management needs, our team is here to help you move forward. For more information on how to prepare a comprehensive financial report for a board of directors, speak with one of our representatives today.

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Tax Planning Strategies for Retirement

May 31, 2024 by Julie Lakric

You’ve likely put aside money toward retirement to supplement social security and help ensure financial stability when you leave the workforce. Yet, have you thought about how your tax situation can impact your funds? To make the most of your retirement income stream, you’ll need a solid understanding of how all your assets work together and the tax implications of each.

How to Plan for Taxes in Retirement

Develop successful retirement tax planning strategies by starting with the fundamentals:

1. Know Your Tax Bracket

Retirement savings generally fall into two categories — tax-deferred and after-tax. Under a tax-deferred account, such as a traditional IRA or employer-sponsored plan, you’ll pay taxes at your current bracket once you begin withdrawals. After-tax accounts, like Roth IRAs and regular savings, represent dollars you’ve already paid taxes on.

Younger workers may find themselves in lower brackets, like 10 or 12%, before transitioning into the 22 or 24% brackets as their earnings increase. High-wage earners can pay as much as 32 to 37% in taxes. 

Each of these scenarios calls for different retirement tax planning strategies, so it’s best to seek expert advice for your unique situation.

2. Diversify Your Account Types

For many, future tax brackets may differ from current ones, calling for diversifying among different account types for maximum withdrawal flexibility.

With a mix of pre- and post-tax assets, you and your tax advisor can create retirement tax planning strategies with more control over your taxable income in retirement.

3. Know the Social Security Rules

While social security can provide an income stream as early as age 62, that may not be the best time for you to start collecting it. Opting for an earlier election can permanently reduce your expected monthly benefit. 

Social security benefits may be subject to taxation for those with significant income or plans to work after reaching full retirement age.

Marital status, such as divorce and widowhood, can also affect the ideal timing, so it’s best to consult with a financial professional for advice specific to your situation for retirement tax planning strategies.

4. Use Your Retirement Assets Wisely

Under the current IRS rules, you must begin withdrawing traditional tax-deferred assets once you reach age 72. The amount you take — called your required minimum distribution (RMD) — changes each year and is a portion of the overall value of your IRA. 

Roth IRAs and Roth-based employer-sponsored plans have no RMDs, and withdrawals are tax-free once you meet the eligibility criteria.

Work with a retirement tax professional to develop a withdrawal strategy combining assets from both account types to help keep your income in the lower tax brackets.

5. Consider a Roth Conversion

With their tax-free withdrawals and no RMDs, Roth IRAs can be a powerful way to maximize savings and add diversity to a mostly pre-tax retirement portfolio. Many traditional IRA owners can convert all or a portion of their tax-deferred savings into a Roth account and pay taxes on the value at the same rate as ordinary income.

Consult with a tax-planning specialist to ensure a conversion doesn’t unexpectedly push you into a higher tax bracket.

Get Retirement Tax Advice You Can Trust

Marshall Jones has served tax planning and preparation needs in Atlanta for over 30 years, operating with a dedication to service, quality and integrity. We offer a full suite of services for individuals and companies across numerous industries.

Contact us online for more information or to request an appointment to develop your unique retirement tax planning strategies.

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Auditing vs. Assurance Services: Is There a Difference? 

May 3, 2024 by Interactive Team

Many people use auditing and assurance interchangeably. Accounting firms often group these services together, as assurance typically comes directly after auditing.

Although the processes are largely interrelated, there are apparent differences. The distinctions lie in their nature, purpose, use and scope. Additionally, the people who perform audit and assurance services may differ in some ways.

Because both services are integral to business operations, it’s essential to compare them and answer some commonly asked questions. Learn about their similarities and differences and why both are important for your small business or nonprofit.

What Is an Audit?

An audit examines an organization’s financial records, transactions and internal controls by a qualified professional, such as a certified public accountant (CPA). There are different types of audits, each serving different purposes. However, they all help stakeholders validate that the subject matter complies with established rules and best practices. 

The most common types of audits include:

  • Financial audits: External auditors conduct financial audits to assess the company’s financial statements and reports. These include income statements, cash flow statements and balance sheets. Financial audits are usually annual, so ensure you close out the fiscal year before proceeding to get accurate reports.
  • Tax audits: The Internal Revenue Service (IRS) conducts tax audits to ensure compliance with tax laws. When preparing for tax audits, it’s crucial to understand the scope and purpose. This allows you to gather the relevant documents and answer the questions appropriately.
  • Reviews of financial statements: Financial statement reviews focus on the business’s financial information for legality, accuracy and accountability. They have a limited scope and are usually less expensive than full audits.
  • Compliance audits: These audits ensure a business adheres to established standards or regulations. Compliance audits also help identify gaps and develop policies to safeguard stakeholders’ interests.
  • Internal audits: Companies conduct in-house audits to check compliance with internal policies and procedures. The primary goal is to identify improvement areas within the organization. Internal audits cover different areas, such as financial reporting, risk management, regulatory compliance and operational processes. 
  • External audits: External auditors with no company affiliation examine the processes and provide unbiased reports. Since these auditors have no association with the organization, their conclusions are generally credible. External audits may cover areas such as financial and tax compliance.

What Is Assurance?

Assurance is an independent process that allows professionals to assess the accuracy of audits. It usually comes after audits to enhance the reliability and quality of information for decision-making purposes.

Assurance services can extend to various areas, including finance, tax and legal. In terms of finance, assurance services may verify the accuracy of income statements, cash flows and balance sheets. In a broader sense, assurance may reexamine internal policies and procedures to ensure compliance with regulations, established standards and industry best practices. 

Assurance primarily aims to enhance confidence among stakeholders, including business owners, investors and managers. Having a professional review reports, processes and controls provides added credibility. Organizations may also voluntarily seek assurance services for accountability and transparency purposes.

Audits are the highest form of assurance, giving an in-depth view of the organization. CPAs and advisors examine transaction irregularities and risks and provide recommendations to improve operations. A comprehensive assurance service may include financial projections, payroll reports and tracking.

Assurance engagements usually require three participants— the company, beneficiaries and independent auditors. Beneficiaries include third parties such as investors, lenders or insurers. The auditor works with established criteria, such as the International Financial Reporting Standards (IFRS) or other relevant auditing standards. Then, they report the findings to the intended audience.

What Are the Differences Between Audits and Assurance?

While audits and assurance are largely connected, these services differ in the following areas:

1. Nature

The audit process reviews an organization’s financial records and internal controls to ensure accuracy and compliance with regulations and standards. Assurance services are usually broader in scope and include the audit process itself. Assurance covers various engagements where an independent professional evaluates information and processes for reliability.

2. Purpose

An audit ensures reports or processes adhere to the laws, industry standards or internal policies. On the other hand, assurance enhances the credibility and reliability of information for decision-making purposes. It provides a second independent assessment of various organizational aspects.

3. Uses

Audits have different use cases, from financial to legal and internal efficiencies. Assurance is generally used to establish a company’s performance or risk level. Audits’ target audience includes internal and external stakeholders. Assurance is often required when a third party is involved.

4. Agent 

Internal or external auditors may perform audit services, depending on the type of audit. External or independent auditors usually perform assurance. The independent auditors conduct detailed assessments and provide unbiased reports. They also make recommendations on how the company can mitigate risks.

5. Scope

Audits are subsets of assurance services and usually have a narrower scope. Assurance is comprehensive but can target a specific aspect of the company’s operations. By default, assurance has a broader scope.

What Are the Similarities Between Audits and Assurance?

Audit and assurance services overlap in the following ways:

1. Professionals

Both audits and assurance services involve trained auditors, some of whom are certified professionals. A classic example is a CPA, who writes and passes an examination administered by a recognized accounting board. The accounting board regulates the industry and requires the CPA to comply with specific standards. While professional evaluations may serve different purposes, they typically seek to provide assurance on the reliability and credibility of information within the organization.

2. Objective

An audit is an aspect of assurance with a similar objective — enhancing confidence in the information provided. Audits and assurance ensure reports are accurate, reliable and compliant with relevant standards or regulations. 

3. Reporting

The outcome of audits and assurance processes is the issuance of reports. The reports communicate the findings, conclusions and recommendations of the professional. Auditors create reports after collecting and reviewing documents, such as financial reports. Finally, the auditor submits the reports to the relevant stakeholders, who rely on the assessments to make informed decisions.

Contact Marshall Jones for Audit and Assurance Services 

Audit and assurance are related services, but they differ in their nature, purpose, use and scope. Assurance requires external professionals, while companies can conduct audits internally. Regardless of the situation, seeking expert guidance for accuracy and reliability is best. 

Marshall Jones is a full-service accounting firm that provides auditing and assurance services for businesses and nonprofits. Our professionals have decades of industry expertise. Contact our team today to learn more about how we can help your small business or nonprofit!

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Understanding the Importance of Accounting in the Nonprofit Sector

April 23, 2024 by Interactive Team

Nonprofits consist of people who are passionate about making their communities and the world better. They provide a place where people can work together toward common goals to achieve positive change. Proper financial management ensures these organizations can focus on furthering their goals. It also offers support to safeguard financial integrity, maintain transparency and propel organizations to achieve their mission. Explore the importance of nonprofit accounting and the unique requirements it brings below. 

Accounting’s Importance for Nonprofits

Accounting is part of the essential business behind a nonprofit’s operations. Beyond supporting a nonprofit’s mission, accounting allows nonprofits to meet their industry’s unique rules and regulations. Nonprofits differ from for-profit organizations in their lack of legal ownership. Funding comes from supporters who don’t expect a return.

The structure of nonprofits calls for a type of accounting called “fund accounting.” Money goes to particular funds based on purpose. Also, instead of measuring equity, nonprofits measure net assets. 

Nonprofit Accounting Requirements

The unique nature of nonprofit accounting means you’ll need particular documents to demonstrate the financial position of your organization:

  • Nonprofit budget: This planning document tracks your expenses and revenue and determines where and when you plan to use particular funds. You will likely have an annual budget and short-term event and campaign budgets. 
  • Statement of functional expenses: This table-style report breaks down expenses into categories based on the money’s purpose. The categories depend on the organization.
  • Statement of activities: This document details revenue and expenses during a reporting period. It provides an overview of the changes to your assets during that time. 
  • Statement of financial position: This statement works like a for-profit organization’s balance sheet, but instead of showing equity, it shows assets available to reinvest in the nonprofit. It compares assets to liabilities to get net assets.
  • Statement of cash flow: This document tracks the inflow and outflow of cash to demonstrate your organization’s financial health. These reports allow nonprofits to determine trends that impact revenue and expenses.
  • Form 990: The IRS Form 990 maintains your tax-exempt status. You must file it annually to report on your financial position and spending allocation. This form is necessary for compliance with regulations and stakeholder transparency.

Best Practices for Nonprofit Accounting

Given the vital role accounting plays in furthering your mission, following financial best practices will ensure a better outcome. Here are a few practices to implement in your organization:

  • Use nonprofit software and expertise: Given the unique nature of nonprofit accounting, you should choose nonprofit-specialized accounting software and consider working with expert consultants that can ensure your financial activity is compliant.
  • Pay attention to your budget: With funding changing frequently, you want to watch your budget and revisit it frequently to determine whether you are meeting financial goals or need to make adjustments.
  • Plan for overhead expenses: While you may want to devote all funds to furthering your mission, you should also set aside some funds to fuel the growth and success of your organization. 

Choose an Expert Nonprofit Accounting Firm

At Marshall Jones, we provide accounting for nonprofits and faith-based organizations. Our extensive industry expertise allows you to meet specific nonprofit challenges, such ascompleting IRS Form 990. Explore our nonprofit services or contact us online to schedule a consultation

professional accounting

Does Your Faith-Based Organization Need Professional Accounting Services?

August 23, 2023 by Julie Lakric

Professional accounting services for faith-based organizations’ finances are unique. These services require a specialized understanding of the distinct financial needs and regulatory considerations within this sector. Faith-based organizations, such as churches, mosques, synagogues, and other religious institutions, operate in a different context compared to traditional businesses. They rely heavily on donations, grants, and contributions from their communities, and must adhere to specific reporting and compliance requirements. 

At Marshall Jones, we recognize the unique challenges faced by faith-based organizations. Our team offers tailored accounting services that address their specific needs. With our expertise and deep understanding of the intricacies of faith-based accounting, we are committed to supporting these organizations in maintaining financial integrity, fostering transparency, and fulfilling their mission-driven objectives. Explore why faith-based organizations require professional accounting services. Additionally, learn how Marshall Jones can assist you in fulfilling your mission.

Why Outsource Your Faith-Based Organization’s Accounting? 

1. Ensure Financial Stewardship

As a faith-based organization, you have a responsibility to steward your financial resources wisely. Professional accounting services can help you maintain accurate financial records, track donations and expenses, and ensure transparency in your financial operations. 

2. Donor Trust and Transparency

Donors play a vital role in supporting the mission and activities of faith-based organizations. They want assurance that their contributions are being used responsibly and in alignment with the organization’s mission. Professional accounting services can help you maintain accurate and transparent financial records, providing donors with the confidence and trust they seek. By demonstrating financial transparency, you can foster stronger relationships with supporters and donors.

3. Budgeting and Financial Planning

Effective budgeting and financial planning are essential for the long-term sustainability of faith-based organizations. With our expertise in financial analysis and strategic guidance, we can help you develop comprehensive budgets, analyze financial data, and create a roadmap for achieving your organization’s goals. 

4. Skilled in Fund Accounting

Many faith-based organizations manage multiple funds, including general operating funds, restricted funds, and special project funds. This can complicate financial management and reporting. Our experienced accountants specialize in fund accounting and can assist you in accurately tracking and reporting funds.

5. Expertise in Accounting Software 

We understand that many faith-based entities often grapple with outdated or incompatible software systems. This obstacle can hinder efficient financial management. Our professionals are adept at bridging the gap between these technological challenges and your organization’s needs. We specialize in revamping outdated systems, integrating diverse software platforms. Therefore, ensuring seamless communication between different software elements. We empower your faith-based organization to streamline financial processes, enhance accuracy, and achieve higher levels of transparency.

How Marshall Jones Can Help Your Organization

Marshall Jones can assist faith-based organizations through outsourced accounting services, providing them with reliable and efficient financial management solutions. With our expertise and commitment to the unique needs of faith-based organizations, we offer the following benefits:

  • Streamlined Financial Processes: We streamline financial processes by handling various accounting tasks, including bookkeeping, accounts payable/receivable, payroll processing, and financial statement preparation. This allows faith-based organizations to focus on their core mission and activities.
  • Compliance with Regulatory Requirements: Our team stays up-to-date with the latest regulatory requirements and tax laws applicable to faith-based organizations. We ensure compliance with reporting obligations, tax filings, and other financial regulatory standards.
  • Transparency and Accountability: We help maintain transparency and accountability by implementing robust financial controls and practices. Our outsourced accounting services provide accurate and timely financial reports, ensuring transparency in the use of funds and facilitating donor trust.
  • Strategic Financial Planning: We work closely with faith-based organizations to develop strategic financial plans, budgets, and forecasts. Our team provides valuable insights and guidance to help optimize financial resources, make informed decisions, and support long-term sustainability.
  • Cost Savings and Efficiency: Outsourcing accounting services to Marshall Jones eliminates the need for in-house accounting staff, reducing staffing costs, employee benefits, and training expenses. This allows faith-based organizations to allocate resources more effectively toward their mission.
  • Expertise and Experience: Our team of skilled accountants and advisors brings extensive experience in working with faith-based organizations. We understand the unique financial and operational challenges they face and provide tailored solutions to address their specific needs.

Hire a Professional Accounting Firm

By partnering with Marshall Jones for outsourced accounting services, faith-based organizations can enhance their finances, and focus on their mission of serving their communities and fulfilling their religious objectives.

Book A Consultation Today

With our offices in Atlanta and Alpharetta, GA, we are well-positioned to provide tailored accounting services to faith-based organizations in the area. Let us handle your accounting needs, so you can focus on what matters most – serving your community and fulfilling your organization’s mission. Contact us today to schedule a consultation and discover how our faith-based accounting services can support your organization’s financial success.

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What Is Outsourced Accounting?

August 14, 2023 by Julie Lakric

Outsourced accounting is when an external service provider takes over a business’ accounting services. It is a valuable solution for businesses to optimize their bookkeeping. It gives business owners peace of mind that their finances are in good hands. Whether you’re a small startup or a large enterprise, outsourced accounting offers a range of advantages. Marshall Jones is a trusted partner for outsourced accounting services in Marietta, GA. Our dedicated team helps companies like yours streamline their financial management processes. We’ll allow you to focus on what you do best — running and growing your business. Learn more about how outsourcing your accounting can enhance your business’ finances.

Do I Need Outsourced Accounting?

Outsourced accounting acts as an extension of your business, giving you access to a reliable accounting team that provides accounts receivable and payable, taxes, employee payroll, transaction coding and financial reporting. An effective outsourcing provider will help you identify your business’ strategic drivers, spot areas where you need support and give insight into how to improve.  

What Are The Advantages of Outsourced Accounting?

Choosing outsourced accounting services can be a game-changer for businesses of all sizes. Benefits of outsourced bookkeeping include the following.

  • Increase Productivity: By outsourcing your accounting tasks to Marshall Jones, you can free up valuable time and resources to dedicate to your core business activities. Our skilled accountants will handle all aspects of your financial management, including bookkeeping, financial reporting, payroll processing and tax preparation. Then, you and your team can concentrate on strategically serving your customers and driving business growth.

  • Access to Expertise: Accounting is a complex field that requires specialized knowledge and skills. Our team of CPAs and financial experts have years of experience working with businesses in Marietta and the surrounding areas. We stay updated on the latest accounting regulations and industry best practices, ensuring accurate financial reporting and compliance with tax laws. With Marshall Jones, you can have peace of mind knowing that your financials are in professional hands.
  • Cost Savings: Outsourced accounting can provide significant cost savings compared to hiring and maintaining an in-house accounting department. Our services eliminate the need for recruitment costs, employee benefits, office space expenses and ongoing training. Our flexible pricing options allow you to choose a package that fits your budget and business requirements.
  • Time Savings: Letting experts handle your accounting frees your staff to focus on essential tasks like business development. We are familiar with accounting systems, so we can efficiently perform reconciliation, budgeting, payroll processing and debt management functions.
  • Accuracy: If you’re trying to do your accounting yourself, you can easily make mistakes or overlook critical details. Having a dedicated, knowledgeable team reduces the likelihood of errors. Our skilled accountants focus solely on performing financial procedures, making them more likely to spot abnormalities or mistakes. We also integrate digital bookkeeping software into your infrastructure to reduce the risk of human error. Having reliable and timely financial reporting gives you a transparent picture of your business’ health, allowing you to make informed decisions.
  • Efficient payroll: Payroll is a significant part of business operations. Keeping up with the ever-changing tax and employment laws is time-consuming for employers. Our accounting services include payroll processing functions such as calculating employee wages, processing tax withholdings and generating payroll reports. When you entrust us with your payroll, you can save time and ensure your employee wages are accurate and timely. 
  • Data protection: Many small businesses lack security in their accounting systems, leaving them vulnerable to cyberattacks and data theft. At Marshall Jones, we use secure cloud servers with capabilities such as encrypted transactions, enhanced data recovery and disaster management features.
  • Scalability: As your business grows, so will your accounting needs. Accounting service providers with well-defined scaling procedures provide companies with various services. Our accounting services can easily scale with your business as your needs evolve, providing you with the flexibility you require.
  • Business continuity: Disruptions in your accounting operations can harm your company. Poor infrastructure, system downtime and staff shortages can cause payment delays, loss of crucial records and penalties. If your business experiences these problems, you risk losing your clients to competitors. When you partner with us, you gain access to secure and consistent services that ensure business continuity.

Outsourced Accounting Industry Use Cases

All businesses can benefit from professional accounting. When you outsource your accounting services, you can prioritize your core strengths while accessing experienced advice and efficient solutions. Let’s look at how some industries benefit from these services.

  • Health care and pharmaceutical: This industry is subject to stringent rules — partnering with an accounting services provider gives businesses access to professionals who understand industry regulations such as Health Insurance Portability and Accountability Act compliance and pharmaceutical pricing.
  • Information technology and software development: Innovation and rapid growth are essential to this industry. By outsourcing financial operations, IT and software companies can focus on their core competencies and scale their business. Providers can also offer tailored solutions such as project-based accounting, revenue recognition and cost tracking. Outsourcing gives IT companies access to transparency, scalability and effective budget management, which all play an essential role in scaling in the competitive industry.
  • Manufacturing and retail: This sector deals with complex supply chains, inventory management and sales. Outsourcing provides manufacturing and retail companies access to improved controls, inventory tracking and accurate forecasting. Financial analysis and advisory services enable these companies to make informed real-time decisions, enhance cash flow management and optimize probability. 

How Can We Help? 

At Marshall Jones, we offer a suite of outsourced accounting services tailored to meet businesses’ specific needs. When you outsource accounting to us, you can expect the following advantages.

1. Bookkeeping and Financial Reporting: Our expert accountants will handle your day-to-day bookkeeping tasks, ensuring accurate and up-to-date financial records. We provide regular financial reports and valuable insights into your business’ financial health.

2. Payroll Processing: Managing payroll can be time-consuming and complex. We take care of all aspects of payroll processing, including calculating wages and generating payroll reports. With our services, you can ensure accurate and timely payroll processing.

3. Financial Analysis and Advisory: As your trusted financial partner, we go beyond basic accounting tasks. Trust our team to give you valuable financial analysis, helping you make informed business decisions. We offer insights and recommendations to improve your financial performance, optimize cash flow and achieve your long-term goals.

Get In Touch With Marshall Jones

There are several benefits of outsourcing accounting services. It can save you time and money and allow you to focus on your core functions. With a dedicated team of professional accounting professionals, you can access financial expertise to make strategic choices.

With physical offices in Atlanta and Alpharetta, we’re well-positioned to serve businesses throughout the local area. Our team of professionals delivers quality accounting services. Don’t let accounting tasks hold you back from achieving your business goals. Together, we can take your business to new heights. Contact Marshall Jones online to discuss your outsourced accounting needs today.

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What Is Accounting Software?

August 2, 2023 by Julie Lakric

Do you want to optimize your business’s financial management with ‌accounting software? Learn how to determine your business’ accounting needs and choose the best tool. We at Marshall Jones have compiled a list of essential tips to help you navigate the process! Select the best accounting software solution for your specific needs.

What Is Accounting Software?

Accounting software is a program that can perform various accounting and bookkeeping tasks. Although there are different types of accounting software, most can be used to record financial transactions, automate accounting tasks and generate reports. Some accounting software also offers additional features such as invoicing, payroll and tax management. This can help businesses keep track of their financial health.

Benefits of Accounting Software for Small Businesses

Small to medium-sized businesses (SMBs) can reap the benefits of accounting software. Here are just a few advantages to keep in mind: 

  • Save valuable time: With any new software you implement, there will be an initial setup period. However, once completed, you can save hours of work previously dedicated to time-consuming and manual tasks. Take financial data entries, for example. Instead of manually downloading CSV files and entering data into a spreadsheet, accounting software can automatically — and accurately — pull the data for you. 
  • Keep financial data organized: Spreadsheets are okay, but there are smarter ways to keep your financial data organized. Accounting software simplifies things by consolidating financial data from various sources into a single platform — organizing invoices, receipts, accounts and other records. It gives you a comprehensive view of your business’s financial performance — all synced into one location.
  • Gain financial insights: As a business owner, you’ll want to periodically check your business’s financial growth to make data-driven decisions. With accounting software, you can instantly generate crucial financial reports with a click of a button. Some platforms even have built-in automatic reporting capabilities — saving you more time. Also, with report customization abilities, you can organize and categorize your financial reports according to locations, departments or projects. 

Examples of Industries Using Accounting Software

The type of accounting software you choose depends on your specific industry and business goals. Here are a few examples of how different industries use accounting software: 

  • Construction: The construction industry may want to use accounting software for project-based financial reporting on the go.
  • Manufacturing: Those in manufacturing may use accounting software with robust inventory management features to manage purchase orders, track inventory levels or create bills of materials.
  • Real estate: In real estate, accounting software can send invoices, accept online payments, track expenses or figure tax deductions.
  • Religious organizations: Even churches can use accounting software to help manage budgets, donations or finances and comply with any tax-exempt regulations. 

Steps to Choosing an Accounting Software

Whichever industry you’re in, there is a bookkeeping software platform built just for you. So, where do you start? Use the following steps as a starting point.

  1. Assess Your Business Requirements

First, before diving into the vast array of accounting software options, it’s important to assess your business requirements. Consider the size of your company, the complexity of your financial operations, and any specific features or functionalities you may need. This evaluation will provide you with a clear understanding of what you expect from your accounting software, helping you narrow down your options.

  1. Consider Scalability and Growth 

Next, as an Atlanta business owner, you undoubtedly have plans for growth and expansion. When choosing accounting software, it’s essential to consider scalability. Select a solution that can accommodate your future needs, such as increased transaction volume, additional users, and advanced reporting capabilities. Investing in scalable software ensures that you won’t outgrow your accounting system as your business grows.

  1. Evaluate User-Friendliness

Accounting software is meant to simplify your financial management processes, so choosing a user-friendly solution is crucial.. Look for software with an intuitive interface and easy navigation. Consider the learning curve for your team members and ensure that the software provides adequate training and support resources. A user-friendly accounting software solution will save you time and reduce the risk of errors in your financial tasks.

  1. Ensure Compatibility and Integration

Your accounting software needs to seamlessly integrate with other business systems you use. Consider the software’s compatibility with your existing tools such as payroll systems, inventory management software, and customer relationship management (CRM) platforms. Integration between systems eliminates the need for manual data entry, reduces errors, and improves overall efficiency in your Atlanta business operations.

  1. Security and Data Protection

Financial data is highly sensitive and requires robust security measures. When evaluating accounting software options, prioritize security features such as encryption, user access controls, and data backup capabilities. Ensure that the software complies with relevant data protection regulations to safeguard your business’s financial information and maintain compliance with industry standards.

  1. Pricing and Cost Considerations

Accounting software has varying pricing structures, including upfront fees, monthly subscriptions, or per-user pricing. Consider the initial investment and any additional costs for upgrades, customer support and training. Choose a software solution that aligns with your budget while providing the necessary features and functionality.

  1. Seek Recommendations and Read Reviews

One of the best ways to gauge the quality and suitability of an accounting program is to seek recommendations from fellow business owners in Atlanta. Reach out to your professional network, industry associations or accounting firms like Marshall Jones for their insights and recommendations. Additionally, read online reviews and ratings to gather feedback from users with firsthand experience with the software you are considering.

The Importance of Software Consulting

As an SMB, you’ll want to commit as much time as possible to important business projects, generate new ideas or make data-driven decisions. Accounting software already offers numerous benefits to give you the productivity boost you need. However, adopting a new software can be challenging — that’s where software consulting comes in. 

Software consulting involves a third party analyzing a business’s software needs and advising software and technology investments based on these needs. Here are some other things that software consultants can bring to the table: 

  • Give you insight into software practices
  • Help you prioritize software goals and objectives
  • Keep you up to date with new software and technology developments
  • Save you time and money on software
  • Teach you how to properly use technology to your advantage

Consult With Marshall Jones — Your Trusted CPA and Advisor 

Choosing software is a crucial decision for your business, and consulting with accounting professionals can provide valuable insight. As trusted advisors, we at Marshall Jones understand businesses’ unique challenges. 

Our experienced CPAs and advisors are well-versed in various software solutions and can offer expert advice tailored to your business needs. We stay up to date with the latest software advancements and industry trends so that we can provide valuable insights and recommendations tailored to each client’s requirements. Our team is ready to guide you through the selection process, provide expert advice and ensure a seamless implementation. 

Empower your Atlanta business with the right accounting software solution and take control of your finances like never before. Contact us online today to discuss your accounting software needs. 

Maintain Tax Exemption in Atlanta

How To Maintain Tax Exemption Status

July 10, 2023 by Julie Lakric

Maintaining tax exemption status is essential for Atlanta nonprofits and certain businesses. Furthermore, tax-exempt status not only helps you save money but also opens up opportunities for funding, grants, and community support. However, navigating the complexities of tax laws and regulations can be challenging. In this article, Marshall Jones, with offices in Atlanta and Alpharetta, highlights the importance of hiring a Certified Public Accountant (CPA) to help your organization maintain its tax exemption status.

What is Tax Exemption Status? 

Tax exemption status allows eligible organizations to be exempt from paying certain taxes, such as income taxes or property taxes. This status is typically granted to nonprofit organizations, religious institutions, educational institutions, and other entities that meet specific criteria outlined by the IRS and state tax authorities. It’s important to understand the requirements and obligations associated with tax exemption to ensure compliance and avoid jeopardizing your organization’s status.

Why Consult a CPA? 

A CPA is a qualified accounting professional with extensive knowledge of tax laws and regulations. They can provide valuable guidance and assistance to help your Atlanta business maintain its tax exemption status. Here’s how a CPA can support your organization:

1. Expert Knowledge of Tax Laws and Regulations

CPAs stay up to date with the latest tax laws, ensuring that your organization remains compliant with all requirements. They understand the specific regulations applicable to tax-exempt entities and can guide you through the complexities of maintaining your tax exemption status.

2. Accurate and Timely Tax Filings

Proper tax filing is crucial for maintaining tax exemption status. Also, a CPA can ensure accurate and timely preparation and filing of required tax forms, such as Form 990 for nonprofit organizations. They will help you gather the necessary financial information, complete the forms correctly, and meet all filing deadlines.

3. Compliance and Documentation

Maintaining tax exemption status often requires strict compliance with documentation and reporting requirements. A CPA can help you establish effective record-keeping systems, ensuring that you maintain the necessary documentation to support your tax-exempt status. Next, they can assist with periodic audits to ensure compliance and identify any areas for improvement.

4. Strategic Tax Planning

A CPA can provide strategic tax planning to optimize your organization’s financial position. Furthermore, our team can identify tax-saving opportunities, help you maximize deductions, and implement strategies to minimize your tax liability while staying within the boundaries of tax laws and regulations. This proactive approach can lead to significant financial benefits for your Atlanta business.

5. Audit Support and Representation

In the event of a tax audit or inquiry, having a CPA by your side can provide peace of mind. They can represent your organization, respond to inquiries from tax authorities, and navigate the audit process on your behalf. Their expertise and knowledge will help ensure that your tax-exempt status is protected throughout the audit process.

Experienced CPA Professionals 

Maintaining tax exemption status for your Atlanta business requires a thorough understanding of tax laws, diligent compliance, and proactive financial management. Hiring a CPA from Marshall Jones can provide the expertise and support you need to navigate these complexities effectively. Our team of experienced accountants understands the unique challenges faced by tax-exempt organizations and can guide you through the process of maintaining your tax-exempt status.

Connect with Marshall Jones today to schedule a consultation! Let’s discuss your organization’s specific needs. Our offices are in Atlanta and Alpharetta. We are conveniently located to serve businesses throughout the greater Atlanta area. Secure your tax exemption status and ensure the success of your organization with  Marshall Jones.

Contact Marshall Jones Today!

If you need professional accounting services to maintain your tax exemption status in Atlanta, don’t hesitate to contact Marshall Jones. Our team of experienced CPAs can provide personalized guidance to ensure compliance. Take control of your tax-exempt organization’s financial future. Contact Marshall Jones today to schedule a consultation. Visit our website!

outsourced accounting in atlanta

Outsourced Accounting: Improving Financial Management

July 7, 2023 by Julie Lakric

As a business owner in Atlanta, you understand the importance of efficient financial management. However, managing your accounting processes in-house can be time-consuming. It can also be resource-intensive and prone to errors. That’s where Marshall Jones comes in. We offer top-notch outsourced accounting services tailored to businesses in Atlanta, helping you streamline your financial operations and focus on what matters most: growing your business.

What Are The Advantages of Outsourced Accounting?


Outsourcing your accounting functions is a cost-effective solution for businesses in Atlanta. By partnering with Marshall Jones, you can eliminate the need to hire and train an in-house accounting team, saving you recruitment costs, employee benefits, and office space expenses. Our outsourced accounting services provide you with access to a team of experienced professionals without the overhead costs associated with maintaining an in-house department.

Expertise and Specialization

Accounting is a complex field that requires specialized knowledge and expertise. By outsourcing your accounting tasks to Marshall Jones, you gain access to our team of skilled accountants who have extensive experience working with businesses in Atlanta. We stay up to date with the latest accounting regulations and industry best practices, ensuring accurate financial reporting and compliance with tax laws.

Time Savings

Managing your accounting functions internally can be time-consuming, diverting your attention from core business activities. By outsourcing your accounting to us, you can free up valuable time and resources, allowing you to focus on growing your business, serving your customers, and pursuing strategic initiatives. Our dedicated team will handle all your accounting tasks efficiently, including bookkeeping, financial reporting, payroll processing, and tax preparation.

Scalability and Flexibility

As your business in Atlanta grows, your accounting needs may change. With outsourced accounting services from Marshall Jones, you have the flexibility to scale your accounting support up or down based on your business requirements. Whether you’re a startup in need of basic bookkeeping or an established company with complex financial needs, we can tailor our services to fit your specific needs.

Atlanta Outsourced Accounting Services

At Marshall Jones, we offer a comprehensive range of outsourced accounting services to businesses in Atlanta. Our services include:

  • Bookkeeping and Financial Reporting: Accurate bookkeeping is critical for tracking your business’s financial health. Our team will ensure that your books are up to date. This will provide you with reliable financial statements, balance sheets, income statements, and cash flow reports.
  • Payroll Processing: Managing payroll can be a time-consuming task. It can require expertise in tax regulations and employment laws. We will handle all aspects of payroll processing, including calculating employee wages, processing tax withholdings, and generating payroll reports.
  • Financial Analysis and Strategic Guidance: Our professionals provide valuable financial analysis and strategy. Thus, we will help you make informed business decisions. Our team will analyze your financial data, identify trends, and provide insights into your business’s profitability.

Partner with Marshall Jones for Outsourced Accounting 

At Marshall Jones, we are dedicated to helping businesses in Atlanta achieve financial efficiency and success through our outsourced accounting services. By partnering with us, you can:

  • Save costs and resources
  • Access expert accounting knowledge and
  • Focus on core business activities
  • Scale your accounting support as your business grows
  • Receive comprehensive accounting services tailored to your needs

Get In Touch Today 

Take the first step towards enhancing your business’s financial management. Contact Marshall Jones today to discuss your outsourced accounting needs and explore how our services can benefit your Atlanta business. Let us be your trusted accounting partner. Visit our website to get help today!

Debt management tips

Debt Management Tips for Business Owners

June 15, 2023 by Julie Lakric

Managing debt can be difficult, especially when you are a business owner with multiple loans, to keep up with. Keeping a handle on your finances can be stressful, and it’s important to seek out professional help to make sure that you’re on the right track. Several business owners near Atlanta, turn to accounting services to keep their finances in order. We at Marshall Jones, one of the top Certified Public Accountants in the area, want to share tips on effective debt management.

1. Keep Track of All Your Debts

The first step to effective debt management is to keep a record of all your debts in one place. Debt organization will help you to avoid forgetting about any loans or credit lines you have taken out. It will also make it easier to prioritize which debts need to be paid first. You can use a spreadsheet or a free online tool like Mint to help you keep track of your debts.

2. Create a Budget

A budget is essential for debt management. Make a list of your debts, and make a budget with monthly expenses and the amount left for debt payments. By doing this, you can make sure that you’re putting a significant amount of your income toward your debts each month.

3. Don’t Be Afraid to Negotiate

If you’re struggling to keep up with your debt payments, don’t be afraid to reach out to your creditors and negotiate a better deal. Many creditors are willing to lower interest rates or renegotiate payment terms to help their customers stay on top of their debts. It’s always better to communicate with your creditors than to simply ignore your debts and hope they will go away.

4. Focus on Paying Off High-Interest Debts First

If you have multiple debts with varying interest rates, it’s essential to focus on paying off the highest interest debts first. Prioritizing high interest debts will help you to minimize the amount of interest you’re paying each month. Additionally, it will help you to get out of debt faster. Once you’ve paid off the highest-interest debt, move on to the next highest, and so on.

5. Seek Professional Help If Needed

If you’re overwhelmed with debt and struggling to manage your finances, seek professional help from a Certified Public Accountant. A CPA can provide valuable advice and support regarding debt management. They can help you create a plan that works for your specific situation. Many business owners in Atlanta or Alpharetta turn to Marshall Jones for our expertise in this area.

How We Can Help 

Marshall Jones understands the challenges that small business owners face when it comes to managing debt. With our comprehensive range of services, we can provide valuable assistance in effectively managing debt and improving financial stability. 

Our team of experts can analyze your current financial situation, develop customized debt management strategies, and help negotiate with creditors to find favorable repayment terms. Additionally, we can offer guidance on cash flow management, budgeting, and expense control to prevent future debt accumulation. 

Customizable Accounting Services 

By partnering with Marshall Jones, small business owners can gain the necessary tools and expertise to navigate the complexities of debt management, allowing them to focus on growing their business with confidence.

Maximize your business’s financial stability with customizable client accounting services from Marshall Jones Certified Public Accountants And Advisors. As a leading provider of outsourced accounting services in Alpharetta, GA, we understand the importance of efficient debt management for small business owners. ‌If you receive our services, you can enjoy numerous benefits. 

  • Reduce Costs: First, outsourcing removes the need for an in-house accountant, saving you costs associated with recruitment, salaries, benefits, and insurance. Our professional-grade accounting services provide you with the expertise you need without the hefty commitment. 
  • Save Time: Additionally, outsourcing saves you time, as the lengthy process of recruiting and training an in-house accountant is eliminated. With Marshall Jones, you can have a dedicated team of experts in place quickly, allowing you to focus on growing your business. 
  • Get Flexibility: Our outsourced accounting services are flexible, catering to the unique needs of your business. Whether you require full-time support, occasional bookkeeping assistance, or services that adapt to seasonal fluctuations, we can provide the right-sized accounting solutions.

Rest assured that our professionals are certified in all major accounting platforms and stay up-to-date with regulatory and tax changes, ensuring your compliance and peace of mind. Experience the advantages of outsourced accounting in the Greater Atlanta area with Marshall Jones CPA, and take control of your business’s debt management with confidence. We specialize in debt management for business owners!

Qualified CPAs and Advisors

Managing debt can be a daunting task, but it’s essential for the financial health of your business. By tracking your debts and creating a budget, negotiating with creditors, focusing on high-interest debts first, and seeking professional help when needed, you can manage your debts and succeed in your business. Remember to always prioritize your debts and don’t be afraid to seek out help from professionals like Marshall Jones when needed. Contact us on our website today!

construction payroll accounting

How To Manage Construction Payroll Through Outsourced Accounting

June 15, 2023 by Julie Lakric

As a construction company owner in metro Atlanta, managing your payroll and accounting functions can be an overwhelming task. Payroll processing, managing cash flows, and analyzing financial reports can take up valuable time and resources. Outsourced accounting services can come in handy. Hiring Marshall Jones, an Atlanta CPA firm, can help you stay on top of your finances.

Payroll Accounting for Construction Companies 

Payroll accounting is a critical aspect of managing the financial operations of construction companies in Atlanta. With unique payroll challenges, such as managing multiple projects, tracking labor costs, and following industry-specific regulations, construction companies require specialized expertise in payroll accounting. Marshall Jones outsourced accounting services are specifically designed to address these needs.

Quality Construction Payroll Accounting

Our team of experienced professionals understands the intricacies of payroll accounting in the construction industry. We can handle payroll processing, tax withholdings, wage reporting, and compliance with labor regulations, allowing construction companies to focus on their core operations. Here is what you can expect from our outsourced accounting services: 

1. Streamlined Payroll Processing:

One of the significant benefits of outsourcing your accounting is streamlined payroll processing. Payroll processing involves complex calculations, tax withholding, and compliance requirements that must be done accurately and on time. By outsourcing your accounting to Marshall Jones, you can save time and resources by having your payroll done efficiently and accurately. You can also avoid costly tax penalties and legal issues that may arise due to payroll errors.

2. Cost Savings:

Subcontracting your accounting can also bring significant cost savings to your company. Hiring a full-time accounting team can be expensive with the added overhead costs of salaries, benefits, and office space. Outsourcing your accounting needs allows you to pay only for the services you need when you need them. Additionally, you can avoid the costs of software and technology updates used by your accounting firm.

3. Access to Expertise:

Hiring experts such as Marshall Jones for your accounting needs means that you have access to a team of experts that specialize in accounting for construction companies. We have industry-specific knowledge and expertise that can help you manage your finances more efficiently. Our experts can provide valuable insights and advice that can help you make informed decisions and improve your financial performance.

4. Time-Saving:

Outsourcing your accounting can also save you valuable time. As a business owner, you have a lot on your plate, and managing your payroll and accounting functions can take up a significant amount of your time. By outsourcing these functions, you can focus on the core areas of your business, such as managing your projects and growing your company.

5. Improved Financial Reporting:

Outsourcing your accounting can also lead to improved financial reporting. The Certified Public Accountants at Marshall Jones will provide you with financial reports that are accurate, timely, and easy to understand. Reports like these can help you decide what business to run, and show how well you’re doing over time. You can change your strategy if needed.

Call Us Today

In conclusion, outsourcing your accounting for payroll can provide significant benefits to your construction company. Streamlined payroll processing, cost savings, access to expertise, time-saving, and improved financial reporting are just a few of the advantages. By working with our Certified Public Accountants and Advisors at Marshall Jones, you can stay on top of your finances. We have offices in Atlanta and Alpharetta! If you’re interested in outsourcing your accounting needs, contact us on our website today.

Small business accounting

Enhance Your Small to Midsize Business Accounting Processes

June 15, 2023 by Julie Lakric

For small to midsize businesses in the Greater Atlanta area, outsourcing accounting services can provide significant benefits. Managing the accounting function of a company is a critical task. It requires specialized expertise and can be time-consuming, costly, and complex. Hiring a full-time accountant or managing accounting in-house may not be the most efficient or cost-effective option, especially for small businesses with limited resources.

Outsourcing your accounting to an experienced and reliable accounting firm can save businesses time, money, and resources while providing access to expert accounting services. Small businesses in the Greater Atlanta area should outsource their accounting services. Marshall Jones can help you today! Learn more about our small to midsize business accounting solutions. 

Small to Midsize Business Accounting

Outsourced accounting services are the process of hiring a third-party accounting firm to handle all or some of the business’s accounting functions. Outsourced accounting services can be beneficial for businesses that do not have the resources or expertise to handle their own accounting needs. It provides businesses with access to experienced accounting professionals.  Those professionals have specialized knowledge and expertise in accounting and can help them manage their financial operations efficiently and effectively. By outsourcing accounting services, businesses can focus on core operations, reduce costs, and improve their financial performance.

Why Outsource Accounting?  

Saves You Money: Outsourcing your business accounting to a specialized company in Atlanta can save you money. You won’t have to spend resources on hiring an accountant, which can be costly. Moreover, as your business grows, you may have to hire more accountants, which can strain your resources. However, outsourcing accounting services to an Atlanta accounting firm allows you to easily adjust the services you need.

Saves You Time: Consulting an Atlanta accounting firm for your small business, saves you time. Hiring an accountant yourself involves the time-consuming process of creating job listings, screening, interviewing, and onboarding applicants. Trusting an Atlanta accounting firm gives you more time to focus on other parts of your business.

Accounting Expertise: A qualified Atlanta CPA provides you with the accounting expertise that you may lack as a small business owner. Our accounting firm can help you manage all of your business accounts effectively. The accounting firm only provides excellent accounting services, so you can get better services than if you did it yourself.

Avoid Turnover Problems: Employee turnover can be challenging for small businesses, particularly if your company’s accountant leaves. It can prove difficult and time-consuming to replace them, involving going through the hiring process and training the new accountant. Outsourcing your company’s accounting to an Atlanta CPA means that you don’t have to worry about any of these turnover issues.

Creates Business Flexibility: Additionally, outsourcing accounting services can also make your business more flexible. When running a small business, you may need to divert people to different tasks as your business grows. Outsourcing your company’s accounting means that your business has more flexibility, allowing you to adjust your plans and pivot as necessary. Additionally, the accounting firm can assign more people to provide accounting services for your business as your business grows, making the accounting services scalable.

Improve Your Business Processes: Outsourcing accounting services can save you money, which you can use to improve your business processes and invest in better tools. For instance, you could spend more on better security software to protect your business and its data.

Marshall Jones Is The Top Atlanta CPA 

For accounting services in the Greater Atlanta area, Marshall Jones is the top accounting firm to choose from. With a great deal of accounting experience and customized services, we can help you run your small business. We serve our clients with honesty and transparency, providing excellent accounting services. Contact us on our website today! Discover how we can handle your business accounting needs with excellence.

Individual Accounting Services

Individual Accounting Services: Customized Strategies

June 15, 2023 by Julie Lakric

As an individual, managing your finances can be overwhelming, especially when tax season rolls around. That’s where a reliable accounting firm comes in. If you’re in or near the Atlanta area, you’re in luck. Our Certified Public Accountants and Advisors at Marshall Jones are here to provide customized individual accounting services. Here at Marshall Jones, we use personalized strategies to guarantee your financial success!

Why Choose Marshall Jones?

There are many accounting firms in Atlanta, but not all of them provide customized accounting services for individuals. We understand that every individual has unique financial needs and we offer personalized accounting services to meet those needs. Here are some reasons you should choose Marshall Jones for your Atlanta accounting services:

Customized Strategies

Marshall Jones offers customized accounting strategies for individuals. In other words, we take the time to understand your financial situation and create a personalized plan to help you achieve your financial goals.


The accountants at Marshall Jones are experienced and knowledgeable in all areas of accounting. Whether you need help with tax preparation, bookkeeping, or financial planning, we have the expertise to help.

Personal Attention

Our experienced team values personal attention and communication with our clients. We will work with you one-on-one to make sure that you fully understand your financial situation and the strategies we recommend.

Individual Accounting Services 

We provide a range of accounting services for individuals in Atlanta. Here are some of the services we offer:

Tax Preparation

Our CPA firm can help you prepare your tax returns and ensure that you are taking advantage of all available deductions and credits.

Client Accounting Services/Bookkeeping

Keeping track of your finances can be time-consuming and overwhelming. Marshall Jones can help with all aspects of bookkeeping, including accounts payable and receivable, bank reconciliations, and financial statement preparation.

Financial Planning

Marshall Jones can help you create a financial plan to achieve your goals, whether you’re saving for a house, planning for retirement, or investing in the stock market.

Benefits of Hiring Marshall Jones 

The specialists at Marshall Jones also offer CPA services for individuals in Atlanta. Here are some of the benefits of working with a CPA:

  • Unmatched Expertise: CPAs are highly trained and knowledgeable in all areas of accounting. We can provide expert advice and guidance on complex financial issues.
  • Effective Tax Preparation: CPAs can help you plan your taxes throughout the year, not just during tax season. Quality tax preparation can help you save money on your taxes and avoid any surprises come tax time.
  • Reliable Representation: If you ever have to deal with the IRS, having a CPA on your side can be a huge benefit. We can represent you in front of the IRS and help you navigate any tax issues that arise.

Contact Us Today

If you’re in need of customized accounting services in Atlanta, look no further than Marshall Jones. Our experienced Certified Public Accountants and Advisors will work with you to create a personalized plan to achieve your financial goals. Reach us at our website today for assistance!

a small business accounting mistakes to avoid poster

Small Business Accounting Mistakes to Avoid

February 6, 2023 by Julie Lakric

Bookkeeping is an essential business function that contributes directly to your organization’s sustainability by providing insights into its financial health. Accurate records help a business budget effectively, invest wisely and plan successfully to meet its needs.

For the small business professional, in-house bookkeeping can present a challenge. Small organizations often work on tight budgets and with fewer team members than larger companies. The risk of errors can increase when someone without bookkeeping experience or knowledge handles the responsibilities. Fortunately, you can take a few steps to help mitigate these risks, such as brushing up on the basics so you can avoid common mistakes.

Fundamental Bookkeeping Tips

You can take multiple steps to simplify the bookkeeping process while implementing solid internal controls.

First, establish a business account and credit card for your organization. Separate accounts are a must if your business structure is anything but a sole proprietorship, and they can be beneficial in many other situations as well. Having a distinction between personal information and company data makes tracking expenses and preparing for tax time much simpler. In an IRS audit, commingling this information can add layers of complexity and extra time to the process.

Keeping business information separate also allows you to take better advantage of digital tracking tools. Software solutions offering online management and funding for expenses can eliminate lost or damaged receipts by allowing employees to upload photos of them to electronic filing cabinets. These platforms help ensure accountability and accurate allocation. You can fund an employee’s account with the precise amount of a known expense to limit spending. 

Accounts payable and receivable software solutions can also help speed up your payment cycles and integrate with existing accounting systems for convenience. Use them for fast online bill payments to vendors or to generate and send customer invoices with a few clicks. The information automatically populates to programs like QuickBooks to eliminate manual data entry.

Familiarize yourself with the reporting tools your software offers, too. Analyzing profit and loss statements offers actionable insights into spending and costs between comparison periods. Plus, these reports deliver crucial information on other key aspects of your business’s financial health, such as return on investment, debt-to-equity ratios and average receivable age. This data is valuable for informing budgeting and planning tasks.

How to Avoid Common Bookkeeping Mistakes Small Business Owners Make

You can also improve your bookkeeping by recognizing and avoiding some common pitfalls. Keep these tips in mind.

1. Have a Data Backup Plan

Fires and natural disasters pose risks to paper-based and digital records, and the likelihood of wholly and accurately recalling and reconstructing lost data is low. Establish a robust process to ensure access to synchronized duplicate records and enforce your policy without exception.

2. Plan for Taxes

The IRS and state revenue agencies can levy penalties and interest for companies that don’t pay their taxes by the required due date. Consider setting aside funds in a separate business account to have them available when you need them. Mark your calendar the first of each year for one to two weeks before the due date to ensure you’re paying on time.

3. Pay Careful Attention to Payables and Receivables

When you’re focused on your business’s core mission, it can be easy to forget who hasn’t paid an invoice on time and who needs to get paid when. Choose an accounting program to help manage payables and receivables more effectively with features like automated payment reminders for you and your customers.

4. Track Every Expense

Tracking every expense, no matter how minor, helps offset the income your business generates for a lower tax bill. Categorize each outlay with a description that works for you so you can account for them accurately come tax time.

5. Trust the Right People With Bookkeeping Responsibilities

Not every small business owner or employee has the specialized knowledge good bookkeeping requires, resulting in the potential for costly errors at best. At worst, handing the responsibilities off to a single individual opens the door to unnecessary risks from bad actors and fraudulent activity. Regain peace of mind and extra time by partnering with highly qualified professionals.

Outsource Your Bookkeeping With Marshall Jones

Marshall Jones has served businesses in the greater Atlanta area with accounting solutions for over three decades. Our certified public accountants and advisors have in-depth expertise across numerous industries to deliver high-quality bookkeeping services to organizations of all sizes.

Contact a team member online to request a custom quote or get more information.

a group of people sitting around a table looking at business documents

A Day in the Life of a Marshall Jones Auditor

November 1, 2022 by Julie Lakric

Auditors do essential work for businesses, non-profits and other organizations, helping them ensure their financial records are accurate and that they follow generally accepted accounting principles (GAAP). It’s a rewarding job, but you may want to know more about what an auditor does during the average workday. We asked Mallory Howard, one of our senior auditors, to tell us about her typical day at Marshall Jones.

Making a Plan for the Day

Auditors are committed to staying on top of the work they’re doing for clients. Mallory usually starts her day by looking at her calendar and preparing for any meetings she has coming up. She also creates a record of what she worked on the previous day and how much time she spent on every project. This process allows the firm to keep track of the work she does for each client.

Mallory also likes to check her email early in the morning — keeping her inbox empty helps her stay on track and ensure her email is organized. When an email includes a new assignment or requires some time to write a response, Mallory will schedule blocks of time on her calendar for taking care of this new work. Time blocking helps her ensure everything she wants to accomplish that day is included in her daily schedule and she can move the email out of her inbox.

Working on Behalf of Our Clients

After she sets her plan for the day, Mallory turns her attention to her top priorities for assisting Marshall Jones’ clients. These tasks typically include fieldwork, which is an essential part of the audit process. During fieldwork, Mallory and her colleagues gather and analyze documents and other information from the organization they’re auditing. With these details, Mallory makes sure everything is running smoothly and that the organization’s financial statements are accurate and consistent.

Drafting those financial statements is another important of Mallory’s day. Financial statements are records that provide a full picture of an organization’s assets and money — what it owns, how much it earns and how much it spends. High-quality financial statements allow an organization to understand its operations better and make improvements. They also give investors, government authorities and others access to reliable information about the organization.

Throughout the day, Mallory may also communicate with the firm’s clients and with colleagues who are working with her on particular audits. When she’s not working from home, she also enjoys chatting and catching up with her colleagues.

At the end of the day, Mallory makes sure to wrap up any urgent or time-sensitive tasks and begins creating her schedule for the next work day.

Learn More About a Career in Auditing

The fulfillment and enjoyment we find in our work is a key part of how Marshall Jones has become one of Atlanta’s top CPA firms. If you’re considering becoming an auditor, contact our team today to learn more about the profession and your opportunities with our firm.

a woman with red nails using a calculator and writing down numbers

Bookkeeping Basics for Small Businesses

October 14, 2022 by Julie Lakric

Business bookkeeping basics are essential to a small business’s success in maintaining compliance and monitoring milestones. The tax professionals at Marshall Jones have put together this quick-start guide for small business bookkeeping to help you begin.

5 Bookkeeping Tips for Small Business Owners 

Five key bookkeeping tips recommended by senior tax professionals can help your small business stay on track this year. 

1. Open a Business Bank Account

It’s vital to have a distinct bank account and credit card for your business so that you have clear records when filing your taxes. Unless you’re a sole proprietor, you’ll need separate tax reports for home and business. Also, if the Internal Revenue Service (IRS) decides to audit your business, having mixed personal and business accounts can complicate the process further.

2. Expedite Your Accounts Payable Process is a legitimate and secure accounts payable and accounts receivable software that integrates with QuickBooks. It helps businesses integrate automated digital tools into their bill and invoice processes. It simplifies the process by making it easy to record bills and pay vendors via the Automated Clearing House (ACH), credit card, check and even international wire transfer. 

3. Digitally Track Expenses

Managing multiple employees with company credit cards can become complex if receipts become lost, faded or damaged. Divvy is an online expense management and business budgeting software ideal for allotting spending money to your team. For example, an employee booking a hotel room for a business trip can receive the exact amount of cash they need with no more and no less. The employee simply snaps a photo of their receipt for digital recordkeeping. 

4. Use Your Financials to Make Strategic Business Decisions 

It’s key to take advantage of your financial records beyond tax time. Business owners should be familiar with a profit and loss statement to analyze their spending and costs, whether that’s year over year, month to month or even biweekly. It’s also helpful to learn financial analysis ratios like the receivable turnover, current, return on assets and debt to equity ratios — and much more. 

5. Be Proactive About Your 1099 Tax Documents

A 1099 form is a tax document business owners use to report payments over $600 in a given year to independent contractors. The best policy is to take a proactive approach to prepare for 1099 forms by issuing a W9 to each vendor at the time of the transaction. Then, you’ll have their tax identification number and address on file to report on the 1099 form during tax season. 

Get Professional Help With Small Business Bookkeeping Basics

Marshall Jones has been helping small businesses like yours with accounting and bookkeeping services in Atlanta for decades. To find out more about how we can help you with small business bookkeeping, contact us online and schedule an appointment today. 

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When Should You Hire an Accountant?

September 9, 2022 by Julie Lakric

Every small business should know when to hire an accountant. In general, it’s advisable to meet and build a relationship with a certified public accountant (CPA) at least once to cover the basics of your business. There are also specific reasons why you should hire an accountant, such as when you need to make critical business decisions and handle key tax documents that will face government scrutiny. The experts here at Marshall Jones have created this guide to help you learn the ins and outs of when you should hire an accountant.

Commonly Outsourced Business Functions

The goal of partnering with a CPA is to have a professional in your corner who cares about your business and is sensitive to your needs. The accountant should understand how to meet you where you are currently and help you achieve your future goals.

A CPA can help you with many practical business and tax tasks, including: 

  • Advisory services: If you need to make a significant accounting or business decision, you can hire a CPA to review your strategy with you and consult on potential advantages and pitfalls. 
  • Audit and assurance: An accountant can help you audit your books and ensure you’re meeting regulatory compliance requirements for the Internal Revenue Service (IRS), your state, lending agencies and more. Accountants can also properly prepare income tax returns, financial statements and sales tax returns. 
  • Entity and tax structure: If you need to discuss your tax structure to maximize value for your entity, a CPA can help. 
  • Mergers and acquisitions: Mergers and acquisitions have complex regulations to manage when considering debts and taxes you will acquire in the process. An accounting professional can help you anticipate these expenses. 
  • Outsourced accounting: Outsourced accounting allows you to farm out your internal bookkeeping, recordkeeping and accounting tasks to a CPA firm. Teams can perform your functions on-site with your employees or off-site to meet all your accounting needs. 
  • Accounting information systems: Many firms use accounting information systems to redesign your accounting processes for optimal performance. They can even handle all the accounting functions for your business on your behalf. 

Hire an Accountant for Your Small Business Today

For more than three decades, Marshall Jones has served the Atlanta business community with integrity and excellence through CPA accounting and audit services. Our capabilities include outsourced professional accounting solutions, audit and assurance, tax planning and preparation and professional bookkeeping and consulting. 

Ready to find out more? Reach out to our team online and schedule your appointment today to get started. 

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What Is an Audit Report?

August 19, 2022 by Julie Lakric

An audit report is the written opinion of a qualified auditor regarding your business’s financial statements. The report is presented in a standardized format and is mandatory according to the generally accepted auditing standards (GAAS). GAAS enables some variations in audit reports depending on the circumstances under which the audit is conducted.

An audit report of a company is simply an examination of your financial reports by someone independent of your organization. The accounting audit report includes an income sheet, a balance sheet, a cash flow statement, changes in equity statement and a notes summary. 

The purpose of auditing reports is to evaluate whether the information about your organization matches your financial statements at a given date.

Why Do Businesses Get Audit Reports?

A business typically gets audited to ensure their entity is not avoiding FICA or federal taxes. Some companies get audited because they over-report expenses, hide or under-report income, misclassify employees, or redeem ineligible deductions. Some other reasons why your business may get audited include:

1. Your Reported Revenue Is Outside the Industry Norm

Revenue is a key focal point when evaluating your business’s financial statements and deciding whether to audit you. If your business diverges from the industry standard income, it is a red flag that may result in an audit.

2. You Are in the Process of Being Acquired

If a company acquires your business, they will do a deep dive into your financials to ensure you handled your taxes correctly.

3. You Have Previously Been Audited

After you have been audited once, auditors will check your business books to see if you have missed any taxation items. The process will continue until you organize your books. You can leverage an auditing service to help break the cycle. 

4. You Are Sharing Articles of Unprecedented Growth

Press releases and articles about accelerated growth, acquisitions and additional investments can trigger audits. Auditors may investigate your financial statements to ensure you paid the necessary taxes.

5. You Made Inaccurate Statements Regarding Your Registration

Your business must register for a tax license timely, and you must acquire sales tax licenses before your revenue exceeds your state’s parameters. Claiming your business started after the date that it did can result in an audit.

Understanding Audit Reports

Reading through an auditor’s report may seem daunting, but you can take the stress out of the process by familiarizing yourself with how these reports are structured and the purpose of each section. Once you know how to read an audit report, you can accept the document handed to you at the end of your next audit and read it with confidence.

The Scope of the Audit

The first section of an audit report summarizes the audit’s scope — in other words, what the auditors did and how they did it. This section will state that the auditor examined the company’s financial statements in accordance with generally accepted auditing standards (GAAS). These standards include well-trained, careful and independent auditors conducting audits. 

The section on the scope of the audit will confirm that the auditors assessed:

  • The company’s documentation of its finances: These documents include, for example, the company’s balance sheets and statements detailing its earnings and cash flows.
  • The company’s underlying financial situation: Auditors will conduct tests to confirm that the information in the company’s documents is consistent with its actual performance.
  • The internal controls the company uses: These internal controls describe the measures the company takes to ensure the accuracy and integrity of its financial information.

The scope of the audit section should give you confidence that the auditors have conducted a careful and thorough investigation. That credibility means you can rely upon the second section of the report — the auditor’s opinion.

The Auditor’s Opinion

The second section of the audit report is the auditor’s opinion, which summarizes their findings based on their examination of the company and its records. There are three generally accepted opinions:

  • An unqualified opinion: An auditor will issue an unqualified — or “clean” — opinion when the company’s management provides all the relevant documents and information and the audit reveals that the company’s financial statements are accurate. An unqualified opinion will not contain any adverse comments or disclaimers about the limits of the audit.
  • A qualified opinion: An auditor will issue a qualified opinion when they are unable to gather necessary evidence or support for one or two areas of the audit. For example, if a company has significant inventory and the auditors are unable to perform an observation to confirm that the actual physical inventory matches the company’s documentation, they would issue a qualified opinion.
  • An adverse opinion: An auditor will issue an adverse opinion when a company’s financial statements are not presented in accordance with generally accepted accounting principles (GAAPs). GAAPs are the accounting standards that companies use to measure and present their financial results. An adverse opinion means that the company’s financial documentation is incomplete or inaccurate. This result doesn’t mean the company is deliberately doing something wrong — in many cases, the auditor can work with the company to correct these problems.

Contact Us Today for Audit Services

An accounting audit report can intimidate any business owner, and evidence shows that the audit frequency of small and medium-sized businesses increases with each year. The good news is that you can take proactive steps to prepare and appropriately respond to your next IRS audit.

Marshall Jones has provided audit and assurance services to companies in the Atlanta area since 1984. Our certified public accountants and advisors will help you achieve the technical competencies to simplify audit season. To learn more about how we can help your business with its next audit, contact us online.

Contact Us Today for Audit Services
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How Do You Become an Entry-Level Auditor?

July 29, 2022 by Julie Lakric

An entry-level internal auditor helps organizations maintain compliance with state and federal laws and regulations. Auditors that work in a payroll capacity perform roles such as examining employees’ pay rates and tax withholdings to verify accuracy. 

Payroll auditors perform a crucial task, catching mistakes and red flags that could lead to lost revenues and potential IRS-imposed penalties. They can even uncover fraudulent financial activities conducted by other members of the organization. 

How to Become an Entry-Level Auditor

If you’re interested in pursuing a career as an entry-level payroll auditor, you’ll need to complete a series of steps to gain employment.

Fulfill the Education Requirements

While many entry-level auditing positions come with on-the-job training, few companies will hire individuals without the appropriate educational background. You’ll need to obtain a bachelor’s degree in accounting to demonstrate that you have the fundamental knowledge to perform the necessary job tasks.

Complete an Internship

When evaluating academic institutions to earn your degree, consider schools that offer accounting and auditing internship programs. Completing an internship provides the real-world training and work experience prospective employers covet. You’ll gain a competitive edge over other job candidates, increasing your chances of landing a position. Some internships even come with compensation, enabling you to earn while you learn.

Begin Your Job Search

Once you’ve earned your degree — and completed an internship, if possible — you’re ready to start searching for available entry-level auditor jobs. In addition to meeting the education requirements, employers look for candidates possessing the following attributes:

  • Professional
  • Responsible
  • Mature
  • Understanding
  • Encouraging
  • Self-motivated

You should have strong communication skills and be willing to work as part of a team. You’ll also need to demonstrate a commitment to ongoing learning to meet the evolving demands of the auditor position.

It can be helpful to conduct a comprehensive self-assessment to determine your proficiency in these areas. Then, you can develop a plan to address any weaknesses to enhance your job search preparation.

Explore the Entry-Level Auditor Jobs at Marshall Jones

The Certified Public Accountants and Advisors at Marshall Hones have provided high-quality accounting and auditing services to individuals and businesses in the Atlanta area for more than 30 years. We strive to deliver exceptional client service with the highest technical competencies and complete integrity.

We encourage you to meet our team and learn more about our exciting entry-level payroll auditor opportunities

Apply Now
What Are the Principles of Auditing?

What Are the Principles of Auditing?

July 22, 2022 by Julie Lakric

Every organization must ensure that its financial statements are correct and comply with all applicable federal and state regulations. Auditing is the process of reviewing these records and information to verify their accuracy. An audit can also serve as an internal control mechanism for detecting red flags that may indicate the existence of fraudulent financial activities.

A major part of audits is following auditing principles, which are a set of rules that guide companies and individual accountants as they work with complex financial data. These principles provide accountants with a strong foundation and help them deliver accurate results to their clients. Proficient accountants follow these principles during each audit they work on to help their clients maintain their compliance.

Understanding Basic Audit Principles

The American Institute of Certified Public Accountants (AICPA) is a national professional organization that establishes the auditing and ethical standards in the United States. The AICPA has developed a set of audit principles to guide auditors as they perform their duties:

  • Training: All auditors must have the appropriate training to plan and execute the various audit types across all industries.
  • Independence: Auditors must have no financial, relational or operational ties to whatever institution they’re auditing to avoid potential conflicts of interest, bias and approval without evidence.
  • Due care: An auditor should possess the same level of skills and competence as their peers within the same industry and employment.
  • Planning and supervision: Auditors must be involved in planning and supervising their work to provide an accurate, informed opinion of their findings.
  • Understanding: Auditors must possess or gain a comprehensive understanding of the industry, the organization and its internal control processes to plan audit procedures for appropriate risks properly.
  • Evidence: An auditor typically should ask for appropriate proof or documentation that supports the line item entries listed in the financial statements.
  • Generally accepted accounting principles (GAAP) compliance: The auditor must verify that the organization is presenting its financial statements in accordance with the industry’s generally accepted accounting principles.
  • GAAP exceptions: The audit report must identify instances where GAAP compliance does not exist.
  • Disclosures: Auditors must verify that any information disclosed about the financial statement line items is adequate.
  • Opinion: Auditors must provide an opinion based on their findings during the audit process. If they choose not to state an opinion, they must give their reasons for doing so.
  • Confidentiality: Auditors must maintain confidentiality, as their client entrusts highly sensitive financial information to them. An auditor must seek the client’s permission before disclosing information to uninvolved parties.

Auditing Principles in Context

Some real-world examples of these auditing principles include:


It is essential for auditors to be transparent about their actions and discoveries. For example, auditors should not withhold vital information from their clients or issue their clients false information. An institution trusts its auditor to provide a true opinion of its financial data and relies on the auditor to disclose any valuable insights.

Unbiased Opinions 

Auditors cannot allow their personal feelings and opinions to influence their decisions as they conduct audits. Maintaining an unbiased opinion may be challenging if the auditor has a personal or professional relationship with their client, as this is a conflict of interest. That’s why it’s crucial not to have any ties to the institution they are auditing. Remaining unbiased will enable an auditor to demonstrate their expert auditing skills and provide their client with an accurate opinion on their financial information.

Evidence-Based Results

An auditor must be able to back up every line item with supporting documents, such as payroll reports, receipts and invoices. A thorough track record ensures that auditing results are accurate and allows the auditor to provide a true representation of the client’s financial information.

Why Do the Principles of Auditing Matter?

Whether you are selling your company, trying to win an investor or simply looking for financial growth opportunities, audits can benefit your business. However, you’ll only receive these benefits with a trusted auditor. You can have confidence in your auditor when they provide evidence that they follow the principles of auditing.

When you’re preparing for an audit, be sure to hire reputable auditors. Look for a provider with sufficient industry experience and evaluate their history by checking their licenses and other credentials. This information can help you select an auditor who implements the principles of auditing in their work.

Learn More About the Audit Principles

Learn More About the Audit Principles

At Marshall Jones, our team of experienced Certified Public Accountants and Advisors has followed our audit principles for more than 30 years. We assist businesses, nonprofit organizations and individuals throughout the Atlanta area to ensure the accuracy of their financial statements and help them avoid potentially costly mistakes. 

Contact us for more information and learn more about how Marshall Jones demonstrates trustworthy accounting principles and procedures for audits.

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Which 990 Is Right for My Organization?

June 10, 2022 by Julie Lakric

Knowing which of the four 990 forms apply to your organization is important when you’re filing taxes. In this guide, we will break down which organizations file each 990 form to help you determine which option best suits your needs.

Types of 990 Forms

Almost all tax-exempt organizations will need to file an annual return, but the form you use depends on your financial activity. In total, there are four types of 990 forms:

  • 990-N
  • 990-EZ
  • 990
  • 990-PF

To determine which form you need to file, you need to understand the basics of each one and the types of organizations that file them.

990-N Form

If your organization has less than or equal to $50,000 in gross receipts, you will file the 990-N form. Your gross receipts are the total amounts of income you received from all sources throughout your accounting period. You will not subtract any costs or expenses from this number. 

Form 990-N is an entirely electronic form with no paper counterparts.


You will file Form 990-EZ if these conditions apply:

  • Your organization has less than $200,000 in gross receipts.
  • Your business’ total assets are less than $500,000.

Tax-exempt organizations, section 527 political organizations and nonexempt charitable trusts often file 990-EZ.

You may also be able to file a standard 990 form in this instance, so it is beneficial to check all requirements for 990-EZ.


If your organization has gross receipts equal to or greater than $200,000 and total assets equal to or greater than $500,000, you will file Form 990.

Certain organizations are exempt from filing Form 990, even if they meet these requirements. These include:

  • Churches
  • Religious organizations
  • Political organizations

Your Form 990 will disclose revenue, expenses, liabilities and assets. You’ll also have to describe the mission and activities of your organization.


Regardless of its financial status, any private organization will need to file a 990-PF form. This form will include information about your private foundation’s:

  • Financial activities
  • Assets
  • Rewarded grants
  • Trustees and officers

Contact Marshall Jones for Tax Planning and Preparation Services

While you may understand these basics about 990 forms, it’s crucial to know there will always be exceptions. Consulting with a certified public accountant (CPA) will help you ensure that your organization meets annual reporting requirements.

We have been serving Atlanta organizations for over 30 years with integrity and professionalism. Our tax planning and preparation services will help you save time and money, and our certified public accountants and advisors have exceptional availability.

We offer tax services for any organization, and we specialize in nonprofit tax forms. Our accountants stay informed about changing tax laws to ensure you are always up to date and compliant.

If you need tax planning and preparation services in Atlanta, please contact the Marshall Jones team today to schedule an appointment.

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How to Prepare for an Audit in Three Easy Steps

May 27, 2022 by Julie Lakric

You know you need an audit — but do you know how to prepare for it? From determining which type of audit you need to choosing the right firm, you need to follow specific steps to ensure you reach your goals.

What Is an Audit?

An audit is an in-depth examination and objective evaluation of an organization’s financial records to determine whether they reflect fair, accurate information. Audits can be internal or external.

In-house employees carry out internal audits, while certified public accounting (CPA) firms often handle external audits and document their findings in detailed audit reports. IRS audits also represent external examinations conducted by the organization’s revenue agents.

Keep the following steps in mind as you plan for an audit.

1. Determine the Audit You Need 

You will first need to decide what type of audit is necessary for your business. For example, a construction company would likely need a bonding or licensing audit.

Consider whether you need a balance sheet audit or a full audit. 

Balance sheet audits examine your business’s assets, liabilities and equity in detail and compare them to previous periods. Auditors will investigate the reasons behind changes and verify the information’s accuracy and compliance with generally accepted accounting principles.

Full audits go a step beyond the balance sheet. During a full audit, your CPA will thoroughly dig into your financial picture. They will confirm income and its sources and verify operating expenses, sometimes in line-item detail. For example, an auditor may match accounts payable claims with the actual invoices your business received. After conducting a full audit, the CPA will issue an audit report stating their opinion on the information’s accuracy. These reports help boost confidence in a company’s financial condition.

Single audits are another option, especially if your organization is a nonprofit receiving government funding. During a single audit, the CPA has a narrower scope — the auditor focuses on accounting for a specific government award. They will investigate broader financial statements as part of their review to determine precisely how your organization managed the money you received from a government program. Its purpose is to confirm you followed any associated rules or restrictions for the money’s use.

2. Choose a Certified Public Account (CPA) Firm

Now that you know what type of audit your company requires, you should research CPA firms. It’s critical to find a reliable and trustworthy option to ensure you are getting the correct service from trusted professionals. Follow these steps to choose the best firm for your business:

  • Ask about their specialty: In many cases, you can find a firm specializing in your industry, increasing the CPA’s likelihood of conducting a dependable audit.
  • Check their history: CPAs receive licenses from their state, so you can research the accountancy board’s database. Doing so allows you to view essential information, including any disciplinary actions.
  • Verify their memberships: Many CPAs belong to industry organizations, like the American Institute of Certified Public Accountants. These organizations promote integrity and ongoing education, so membership is a sign of your CPA’s values.
  • Confirm their experience: While all CPAs have passed the required exams, there’s a benefit to working with an audit-experienced firm. Those who’ve served the industry longer generally have more in-depth knowledge of the process to make audits smoother.
  • Check their fees: CPA firms may work on different fee structures based on the hours or complexity involved. Ensure you understand payment arrangements so you can compare costs between CPAs accurately.
  • Confirm audit representation: If an IRS audit happens, you’ll likely want a skilled CPA in your corner. Reputable firms should offer audit defense to help represent you in dealings with the IRS.
  • Ask people you trust: Referrals from friends, family and business advisors can help you identify the ideal CPA for your audit. Sometimes, they can also prevent you from engaging the wrong one.

3. Start Preparing for a Financial Statement Audit

The last step is to prepare for the audit. Communication is crucial, especially for loan covenant or federal spending requirement compliance. Make sure you know the best way to communicate with your CPA firm. That way, you can convey important information, such as when your audit’s deadline is, to ensure the firm conducts it correctly.

It’s also essential to start gathering important documents and plan for the time it takes to work with your auditor. That way, it’s easier and faster for them to complete your audit because you are ready to assist as necessary.

The documents needed for an audit will vary based on the audit type and scope and the structure of your business. Generally, you should expect to provide supporting evidence for your financial reporting. Tasks will likely include:

  • Gathering expense evidence: Have receipts, paid tax statements and other evidence of business expenses available for your auditor. The auditor will align these with any allowable deductions to verify their existence and eligibility.
  • Presenting income evidence: Ensure you have bank statements, deposit receipts and customer invoice copies to give your auditor. They’ll be able to confirm revenue claims and reconcile receipts with journal entries faster.
  • Providing access to past third-party opinions and confirmations: Allow your auditor to review any previous objective opinions and audit reports. They can use these as supplemental resources to form a more comprehensive audit trail.

For privately held corporations, auditors may request additional documents that speak to financial health. These include:

  • Cap tables representing your company’s ownership allocations to confirm value, expenses and the owner’s equity entry on your balance sheet.
  • Form 409A to set forth the fair market value of outstanding stock and ensure you’ve valued equity-based compensation accurately.
  • Other stock-based compensation reports detailing your valuation calculations.

Contact Marshall Jones Today for Audit and Assurance Services

If you follow these three steps, your audit will run smoothly without requiring extra effort. When you need to choose a reliable firm for an audit at your business, come to Marshall Jones.

Our audit and assurance services help gather financial records and show your management team the next steps. Whether you are trying to maintain or grow your company, our team helps you with audit and assurance services to satisfy government authorities and other entities that require them.

We use a risk-based audit approach, provide valuable recommendations and report our findings to the necessary parties. We have over 30 years of experience, and our services help you save by not requiring you to hire an in-house CPA.

Please contact the Marshall Jones team today for audit and assurance services!

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What Are Common Audit Adjustments and How Can I Avoid Them?

May 23, 2022 by Julie Lakric

Audit adjustments can significantly impact your organization’s financial statements. It’s essential to evaluate their regulatory compliance effects and determine potential internal control deficiencies that may prevent you from detecting misstatements.

Though many audit adjustments are common, there are various measures you can take to avoid these corrections and ultimately improve your internal operations.

What Are Audit Adjustments?

Audit adjustments are proposed corrections that outside auditors make for your company’s general ledger. These corrections come from financial misstatements, errors or items discovered during auditing procedures that may require revision or reclassification to different accounts. Your business must correct these issues before your auditors will sign off on the audit report. 

Common Audit Adjustments

Companies run into many common audit adjustments depending on their financial activities. They can range from verifying financial reporting accuracy to adjusting incorrectly classified accounts. 

Some frequently occurring audit adjustments include:

  • Prepaid expenses: Assets that are paid for and used gradually, such as office supplies. 
  • Depreciation: The process of allocating or distributing asset costs over the asset’s useful life.
  • Net assets: Assets and contributions with donor restrictions. 
  • Accrued revenues: Revenue earned during one accounting period that isn’t received or recorded until a later period.
  • Straight-line rent: The total liability under a rental agreement that should be charged over the contract term on an even, periodic basis. 
  • Accrued expenses: Expenses that occurred in one accounting period but will be paid during a later period.

How to Avoid Audit Adjustments

Though audit adjustments may seem unpreventable, there are ways to elude them. You can avoid even the most common audit adjustments by taking the following precautions:

  • Perform self-audits: Frequent misstatements indicate that your company’s financial processes require remediation. Consider self-auditing any significant transactions, receipts, disbursements and potential variances to catch errors before they occur.
  • Review financial statements: Management should regularly review your company’s general ledger, cash receipts, cash disbursement journals and subsidiary ledgers to confirm that these balances are reconciled accurately. Frequent reviews are evidence of effective internal controls and timely corrections.
  • Monitor nonroutine transactions: It be can be easy for nonroutine transactions to slip through the cracks, as these periodic activities are not typically part of your routine flow of transactions. Consider reviewing these transactions regularly to account for them.

Schedule Audit and Assuarnaces Services at Marshall Jones

You can avoid audit adjustments with the help of the audit and assurance experts at Marshall Jones. We’ve spent over 35 years providing excellent client service to customers across Atlanta with exceptional technical competency and complete integrity.

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Does an Employer Benefit From a 401(k) Matching Plan?

April 22, 2022 by Julie Lakric

Hiring and retaining talented candidates can be difficult in today’s marketplace. If the candidate you’ve offered the position to is juggling multiple offers, their selection might boil down to one thing — the company’s benefits packages. Your ideal candidate is most likely to choose the company with the most competitive benefits package. 

What Are the Benefits of Having a 401(k) Package for Your Employees?

Offering a 401(k) benefits package isn’t mandatory as an employer, but there are several incentives to provide one:

  • Attract qualified talent: Set yourself apart from the competition by offering talented candidates a comprehensive benefits package.
  • High retention: Show your employees they’re valued by matching their investments in their future with a 401(k).
  • Long-term company success: Your company’s success is directly tied to the talents, qualifications and capabilities of your workforce. 

To ensure you offer the best packages your company can, we recommend you annually review your benefits packages for new and existing employees. 

Does An Employer Benefit From a 401(k) Matching Plan?

There are several benefits of a 401(k) plan — for you and your employees. For example, you can both benefit from tax breaks with 401(k) plans. Money contributed to a 401(k) is tax-deductible and accumulates on a tax-deferred basis, subsequently lowering both of your tax brackets.

If your employee’s salary is $80,000 and they contribute $18,000 to their 401(k), they are lowering their tax bracket because their salary then becomes $62,000 when you deduct the $18,000. 

Employers benefit from a matching plan, too. The money you contribute to their 401(k) is also pre-tax, lowering your tax bracket. Remember to contribute to your own 401(k) because this allows for salary deferral and profit-sharing contributions. 

What Are the Benefits of Offering A Retirement Plan and 401(k) to Your Employees?

When you match your employee’s contributions to their 401(k), they are accepting free money — which is an incredible incentive, especially if your contributions outdo another employer’s. Even better, the money you and your employee invest into a 401(k) generates more savings for both of you in the long term. 

You can provide salary-based, company-profit or dollar-for-dollar amount matching contributions depending on your preference:

  • Dollar-for-dollar: With a dollar-for-dollar matching contribution, you match their contribution down to the dollar — so if they contribute $5,500 annually, you will, too.
  • Percentage-based: Rather than contributing 100% of what your employee puts into their 401(k), you can contribute a certain percentage. For example, it’s common to match 50% of their input. If your employee contributes $5,500, you contribute $2,750. 

There is a maximum contribution limit to a 401(k) between an employee and employer. According to the IRS, as of 2021, the maximum contribution amount is $58,000. 

Contact Our Dedicated Professionals for Your Accounting Services Today! 

At Marshall Jones, we are committed to providing quality tax advisory services for corporations and individuals. Reach out to our certified public accountants and advisors and benefit from our industry expertise. We have over 30 years of experience in tax preparation services. 

Reach out to us online today to get started! 

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What Business Expenses Are Tax Deductible?

March 25, 2022 by Julie Lakric

Whether you own a salon or a manufacturing company, running your business will come with operational expenses. If your business exists and operates to make a profit, you are eligible for business tax deductions. 

What Are Fixed and Variable Business Expenses?

Business expenses can be variable or fixed, meaning they can be one-time, occasional or constant. Variable business expenses can include travel or startup costs, while a fixed business expense is constant, like rent or mortgage payments.

Each industry will have specific deduction standards. Generally, you only deduct what’s considered necessary for your business. Qualifications vary depending on your industry and business. 

What Are Ordinary and Necessary Business Expenses? 

The Internal Revenue Service — the IRS — determines ordinary expenses as common to the industry you work in. Necessary expenses are defined as expenses considered appropriate for your trade or industry or a standard cost associated with running a business, no matter the type of business. 

For example, ordinary business expenses for a salon manager could include sinks, hair products and washers and dryers to clean towels. However, a washer and dryer would not be considered essential for an accountant because it’s not required for daily operation and it isn’t integral to providing their services as an accountant. 

What Are Some Ordinary and Necessary Small Business Tax Deductions? 

Small business tax deductions can include: 

  • Rent or mortgage payments.
  • Office equipment.
  • Payroll costs (wages, benefits, and taxes).
  • Utilities.
  • Taxes.
  • Interest payments.
  • Business fees (license, permit, subscription). 
  • Maintenance and repairs.
  • Legal or professional fees.

What Are Some Other Business Expense Deductions to Consider?

There are other tax deductions associated with your business, but there are requirements to meet each qualification:

  • Gifts: You can deduct gifts from your taxes if your gift does not exceed $25. If you send a bottle of wine worth $100 to a client, you can only deduct $25 from that gift. You can also deduct promotional gifts like pens and coffee mugs up to $4 per item if it bears your business name. If a client takes home a pen with your business name, you can deduct it! 
  • Meals and entertainment: Due to the Tax Cuts and Jobs Act of 2018, you can deduct 50% of your business meals. However, a business representative must be present and you must be conducting business. The IRS should not consider the meal extravagant, which includes any restaurants or meals not typical of any ordinary day.
  • Travel expenses: You can deduct automobile travel costs or the standard mileage rate, which is 58.5 cents per mile in 2022 — but you cannot do both. If you do deduct the actual expenses, you can deduct 50% of your depreciation, auto loan interest, fuel, maintenance, insurance and registration. Otherwise, we advise you to track your mileage in case the IRS audits you. 
  • Home office expenses: You can choose to deduct $5 of each square foot of your home office, but it must be a dedicated office space. 

Contact Marshall Jones Certified Public Accountants And Advisors Today

We can help you determine what business expenses are ordinary and necessary. Contact us today and our dedicated team of professionals will advise and guide you in your small business tax preparation! 

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What Is the Federal Gift Tax? 

March 15, 2022 by Julie Lakric

Just as the federal government collects taxes on your income, it also collects taxes on large sums of money gifted to people, organizations and churches. However, more often than not, the average taxpayer won’t need to file a gift tax return due to the large annual gifting amounts allotted. As a result, many gifts aren’t subject to taxation. 

What Is the Annual Exclusion Amount for Gift-Giving?

In 2021, the federal government allotted each individual — and their spouse separately — a lifetime exclusion amount of up to $11.58 million. The combined lifetime gifting exclusion amounts to a total of $23.16 million for one couple. 

Do I Need to File a Federal Gift Tax Return? 

Even if your gifting amount does not exceed $11.58 million, you may need to file a gift tax return. As of 2021, the annual federal gift tax exclusion enables you to gift up to $15,000 to as many people as you’d like without the amount affecting your $11.58 million or requiring you to file a federal return. This amount is subject to change year-to-year due to inflation. However, any amount you gift to an individual exceeding $15,000 will count toward your $11.58 million lifetime gift tax exemption. 

For example, if you gift $20,000 to a family member, the additional $5,000 will count toward your $11.58 lifetime gift tax exemption. You will need to file a federal return because of the $15,000 annual gifting limit.

Likewise, if you paid another $20,000 to a different family member, $5,000 of that amount will count toward your lifetime gift tax amount. If you gifted both amounts in the same year, $10,000 of your combined gift amount would count toward your lifetime amount. 

Estate Planning Using the Gift Tax 

Gift taxes and estate taxes are connected. As of 2020, you have an $11.28 million federal estate exemption. You can leave up to $11.28 million in your estate before your beneficiary will owe any federal estate taxes.

If you’re married, your spouse is entitled to an $11.58 million estate exemption amount. This means your spouse will only owe federal estate taxes on inheritances exceeding $11.58 million. 

To sum up, each individual receives a federal, lifetime exemption amount of $11.58 million. Gift amounts exceeding $15,000 per person annually will require you to file a federal gift tax return. As a result, annual gift giving of less than $15,000 per year becomes a great approach to estate planning. This trickled gift-giving approach ensures you aren’t cutting into your beneficiary’s estate exemption amount, reducing your beneficiary’s taxable estate.

Get Professional Tax Advice From the Certified Public Accountants and Advisors at Marshall Jones

Collectively, our certified public accountants and advisors at Marshall Jones have more than 35 years of experience in professional accounting, bookkeeping and tax planning and preparation. Our attentive accountants and advisors can provide expert advice while answering any questions you might have. 

Consult with us today for your tax preparation and estate planning needs. 

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Why Does My General Contractors License Require an Audit

February 25, 2022 by Julie Lakric

In the application for your general contractor’s license, there are several requirements that must be met. Among the age, education, and experience qualifications, there is one specific requirement that often comes as a surprise to many individuals. In the state of Georgia, the State Licensing Board of Residential and General contractors requires that an audit has to be completed. With your application, you must attach a CPA reference letter that indicates that you have a minimum net worth of $150,000. 

Audits Help Insurance Companies Determine Your Insurance Premiums

This financial responsibility is important because it provides useful information for insurance companies to accurately determine the costs of your general contractor liability insurance, workers compensation, automobile, and other coverage policies. Since a CPA is performing an audit on your business operations and worth, the insurance companies are able to more accurately calculate your policy premiums and insurance rates based on the audited payroll, sales, and cost numbers. 

Understanding the Importance of an Audit

Understanding the importance of an audit for your general contractor’s license is essential to your business. Having an auditor confirm the costs incurred improves the accuracy of the cost certification in the application, and if costs are adequately separated into relevant types and organized by vendors, then this further contributes to the reliability of the application. 


An audit by the certified public accountants and advisors at Marshall Jones unlocks a mountain of financial data. With over 30 years of experience, our team works to develop accurate and up-to-date financial analysis and information you can use. Construction companies face unique accounting challenges, and we help overcome them. Contact us to get started.

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Why Churches Should use QuickBooks for Accounting

January 24, 2022 by Julie Lakric

The world of church accounting is vastly different from accounting for for-profit entities. There are many unique challenges facing religious organizations. One of the first issues a church may face is finding and implementing an accounting software that meets their needs. There are many different accounting software solutions available for churches, but below are four reasons we believe QuickBooks may be a good fit for your church.

1. Robust Reporting

Churches have a responsibility to their congregation and other donors to have clean, readily available financial statements. Donors want to see that their money is being used effectively and the mission of the church is going forward. QuickBooks can easily create many different reports to provide church and ministry leaders with accurate and useful information. QuickBooks can produce reports for a variety of purposes such as creating year-end donor statements, obtaining financing for new building projects, budgeting for church programs, and so forth.

2. Restricted Donations Tracking

Churches and other non-profits are required to track restricted donations, which are contributions that have a donor-imposed restriction. For example, a donor may give money that is restricted for missions or a building fund, and the church is obligated to see that the money is used for the intended purpose. The QuickBooks class feature makes tracking restricted funds manageable. Churches can set up a class for each program, department, fund, etc. and track income and expenses by that specific grouping. A statement of activities can then be generated to view income and expenses for each class. This is a powerful tool churches can utilize to ensure restricted funds are used appropriately.

3. QuickBooks is Widely Used

QuickBooks is the most used accounting software for small businesses. Because it is so common, it is much easier to find volunteers or hire employees who are familiar with the software. Because QuickBooks is the industry standard, there is also a plethora of training available online at just the click of a button. Anything you may need to know about QuickBooks can be found through a quick Google search. QuickBooks also boasts a very useful online community where you can quick get answers for your questions and find tips from experts.

4. Ease of use 

QuickBooks is a very user-friendly program with a very intuitive interface. It is designed to be used by small business owners and those who do not have a robust understanding of accounting. In contrast, other accounting programs that are designed specifically for churches often feel clunky and have a much larger learning curve. QuickBooks makes regular processes such as receiving recurring donations or reconciling bank accounts a breeze.

Marshall Jones Specializes in Accounting for Churches

When you need to focus on your core mission, outsourcing your accounting services can be a great strategy. Marshall Jones with our team of top accountants in Atlanta, GA can supplement and perform your accounting functions for just as long as you need our services. Contact us to get started.

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Best Tips for Tracking Donations in QuickBooks

January 17, 2022 by Julie Lakric

Money fuels the mission of every non-profit organization. Just like any other business, nonprofits need money coming in to cover operating costs, pay employees, fund their programs, and so forth. Nonprofits must have an effective system for recording the donations received from their donors. QuickBooks is often a perfect tool for many nonprofits to deal with this very dilemma. With QuickBooks, it is simple to track all the money coming in and out of your organization. Below are some of our best tips nonprofits can use for tracking donations with QuickBooks. For purposes of this blog post, we will be looking at donation tracking with the QuickBooks Online platform. 

1. Set company up as a nonprofit

When you first start your QuickBooks Online, you are prompted to select an organization type. It is an important first step that you select “Nonprofit organization” from this list. By telling QuickBooks you are a nonprofit, they will automatically tailor their software to meet the unique needs that your organization faces. If you can’t remember what business type you selected, you can access this setting doing the following: 

  1. Click on the gear icon in the top right of your screen 
  2. Under the “Your Company” heading, select “Account and settings”
  3. From here, you can click on the “Advanced” tab on the left side of your screen. 
  4. The second section that pops up on this screen is called “Company type” From here you can click the pencil icon on the left and edit your company type to say “Nonprofit organization (Form 990)” if needed. 

2. Record donations using one of several methods 

When a donor gives to your organization, there are several options for how to categorize the donations in QuickBooks: 

  1. Sales Receipt – a sales receipt is used when a customer pays you on the spot for goods or services. To record a sales receipt, it is necessary to create an item that was “sold” to the “customer”.  Most nonprofits can setup just a single item called “donations” and use this on all their sales receipts. 
  2. Invoice/Pledge – an invoice is used when a customer agrees to pay later. In the context of a nonprofit, this can be useful when a donor makes a pledge. QuickBooks can even memorize recurring monthly pledges so they are generated each month to remind the donor. 
  3. Deposits –  If you don’t want to use a sales receipt or invoice, you can also record income directly in a deposit. Doing this bypasses the “sale” and just records income directly in the bank account. 

3. Use classes to track restricted donations 

Donors oftentimes will give money to a nonprofit that is restricted for a certain purpose or program. The class feature in QuickBooks takes the headache out of tracking these donations. To use classes, you must first enable it in your settings by doing the following: 

  1. Click on the gear icon in the top right of your screen 
  2. Under the “Your Company” heading, select “Account and settings”
  3. From here, you can click on the “Advanced” tab on the left side of your screen. 
  4. The fourth section that pops up on this screen is called “Categories”. From here you can toggle the on/off switch for tracking locations. We also recommend checking the box for a warning when a transaction isn’t assigned a class. 

After classes are turned on, you can then create a class for each of your programs or departments. Many nonprofits use classes such as “General & Administrative”, “Programs”, “Fundraising”, etc, but classes can be changed to fit your specific nonprofit. Transactions recorded are then assigned to a class. This will allow for financial statements to be generated by each class in your nonprofit. Nonprofits can view income and expenses for each class to ensure that restricted funds are used for the intended purpose. 

4. Create year-end donation letters using this workaround 

When nonprofits receive donations, donors will be looking for some form of receipt in order to claim their donation as a tax write-off. It is therefore imperative that you track who the donations come from. This tracking is easy if you setup each of your donors as a customer in your QuickBooks file. Each donation should have a donor name unless the donation was anonymous. When January rolls around and donation letters need to go out, the data will be readily available in QuickBooks to extract. While there is not a formal donation letter feature in QuickBooks, using a Sales by Donor Detail should get you the information you need. To create this report, follow these steps: 

  1. Click Reports on the left panel.
  2. Type Sales by Customer Detail on the search box.
  3.  Click the Customize button in the upper right-hand corner.
  4.  Maximize the Rows/Columns section, and then click the Change columns link.
  5. Check the box for Donors.
  6.  Click Run report.

If this workaround doesn’t work, there are also several donation apps available that integrate with QuickBooks Online. An application such as Donor Receipts may be the perfect solution for your donor letters that works perfectly with QuickBooks Online. 

Outsource Your Accounting to Marshall Jones

When you need to focus on your core business, outsourcing your accounting services can be a great strategy. Marshall Jones with our team of top accountants in Atlanta, GA can supplement and perform your accounting functions on-site or off-site for just as long as your organization needs our services.