I picked up a new account a couple months ago and haven’t been able to reconcile the beginning bank account balance with what was on the ending balance sheet for last year. Finally got hold of the CPA firm that did the return and asked for a general ledger for the last month of the year, to see if I could find anything. They gave me many excuses why they couldn’t come up with that but I finally insisted that the client had a right to know where their fiigures came from. I had already found several other mistakes on the balance sheet including a bank account he had that was not accounted for. One of the CPA’s finally called me back and told me that the girl who worked on the account was no longer there and after doing some review they discovered that over $28000.00 worth of bank deposits, which were income, had not been accounted for on last years financial statement because the client didn’t want to pay taxes. She then proceeded to tell me we would have to pick it up as income this year. I had worked very hard to get his profit down before the end of his year so that he wouldn’t owe much if anything in taxes. Now I’m stuck with this. At this point I know last years return was wrong so I am going to amend. On top of that, he borrowed almost 60,000.00 to pay expenses last year and the loan on the books has a balance of $8000.00. To top it all off, they put me on hold at one point but then must have accidently hit the phone button because I could hear everything they were saying. They weren’t speaking very nicely about me so I finally interrupted their conversation and told them that I could hear everything they were saying. I’ve been fuming ever since. When a client leaves us I always work with the new accountant and give them whatever they need. I feel the client is entitled to copies of bank recs and a general ledger if they ask for it. This client will have no back up for the work they did if ever audited. Any suggestions as to where I should go from here? They are still giving me nothing.
Sincerely,
Debbie Wilson EA
Preferred Accounting
420 E Beloit St.
Darien, WI 53114
262-724-3635 Tel
262-724-5645 Fax
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