The answer, in a word, is no.
In fact, working with a Paro accountant or ad-hoc team might very well prove more efficient and effective than doing the job with onsite resources. At Paro, once we assess your needs, we can quickly put together a team of people with exactly the expertise to handle the job— and they already know how to work with each other.
Still, you’re hesitating. Maybe you have a bookkeeper or tax accountant in-house, or you work with a local accountant who comes to your office. Even if you’re not sure your current resources are giving you your money’s worth, you still have questions about Paro. Will they understand my books and know what to do to lower my tax payments? Will they be there for me when I need them, even though they are hundreds of miles away? And will it simply take too long to get them up to speed?
Once you see the process set in motion, you’ll realize there was nothing to be afraid of. Here’s what that process will involve:
Starting the working relationship
As a new client, you’ll begin with a kick-off call or email with a Paro accountant, who will assess your needs and provide you with the specifics of what they will need to do the job for you as quickly and accurately as possible. If you’re only looking for bookkeeper oversight, you will need to give your Paro accountant either your Quickbooks Online file or your Excel financials; they won’t need access to your bank records. However, if you are hiring a Paro accountant for tax returns, your accountant will need access to your financials as well as your prior-year returns, which will have standing information that will be useful to get started.
Once you have provided all of the documentation your Paro accountant or team has requested, and answered any of their initial questions, they’re off and running!
Your Accountant Takes It From There
At this point, your Paro professional(s) will do as much of the work as they can or need to without reaching out to you, keeping a running list of the issues and questions that come up, but not interrupting you with daily (or hourly) phone calls and emails. Only when they have a solid foundation of your books, and have done as much as they can to complete what was stated in the Statement of Work, will they reach out to go over the details, ask more questions, and close up the loopholes.
From here, the process is as fast as you want it to be: agreeing to deadlines, communicating and coordinating, answering questions in a timely manner. As long as you produce all of the follow-up information in a timely fashion, the turnaround should happen quickly, as most of the number crunching is automated.
The Paro accountant will come back with a draft and make requested adjustments until the client is satisfied. For tax accountants, once the tax return is agreed upon, your accountant also will take care of filing it.
And just like that, your financials will be in order, your tax returns will be filed, and you’ll be scratching your head wondering whatever made you scared of entrusting your books to a Paro professional in the first place!