Frequently Asked Questions

Corneliuson Accounting FAQs

Frequently Asked Questions

  • Do you only work with small businesses?

    We specialize in working with small and medium sized businesses – primarily closely held private corporations and non profits. Our average business does around $1MM per year in revenue and has 7-9 employees.

  • How often do we meet?

    At a minimum, we want to meet with you at least twice a year either at your business or at our offices. The primary purpose of the meeting is to do tax planning and to review the performance of the business. We will meet at other times for specific issues or circumstances, and of course we also reach out via phone and email regularly.

  • Do you offer investment advisor services?

    We do not provide specific investments or investment services. However, we can recommend and coordinate with other professionals the best retirement or profit sharing plan to meet your near and long term goals.

  • How many people will be handling my account?

    You will work with a seasoned Accounting and Tax Manager and Staff Accountant. You may also work with a Payroll Specialist if you are using our payroll services.

  • What financial information do I need to have for our first meeting?

    A recent bank statement, or a statement of profit or loss, or a recent tax return for the business. Any or all of these can be helpful in making a meeting as efficient as possible for you.

  • Do you work with QuickBooks?

    Yes, we are QuickBooks Certified ProAdvisors and have extensive experience with all versions of QuickBooks from QBO to Enterprise. Upwards of 80% of our clients use QuickBooks in some fashion of their business.

  • I'm terrible with numbers. How much bookkeeping will I have to handle?

    Our Small Business Service Package takes that burden from you. We can tailor the service to allow you to focus on your customers and clients. We also work well with administrative staff in a business where they might not be as well rounded as you would like, but can perform basic data entry duties or pay bills. We can take it from there.

  • What are the benefits of having all my accounting services provided by one business?

    A full service accounting business brings you the benefits of a coordinated effort, efficiency, and good communication of information. You don’t want to hear that you need to speak to someone else to get a question answered or a matter resolved. We just take care of it.

  • Your services sound expensive. Can we afford you?

    We certainly aren’t the least expensive accountants out there. However, we aren’t expensive either. Generally, if your business is incorporated and has more than $200,000 in annual revenue and your revenues are steady or growing, we can be a good fit.

    Typically, we are looking for ways to save you in taxes, give you good advice to save you in costs, or give you ideas to help you make more money. Sit down with us, and in 15 minutes or so, we can get you a pretty good idea of costs. If it makes sense, we will work a detailed proposal specifically for you.

  • What do you mean that your fees are fixed?

    If we decide together that it makes sense for us to work with you, you will know your annual costs up front. We break that cost into 12 monthly installments for budgeting, and there are not additional surprise costs.

    The traditional alternative is for a CPA to bill hourly for meetings and phone calls at a rate of $150-$250 per hour, which often generates surprise bills and a reluctance to talk to your accountant.

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