Why do users of QBO want to align their company's tax form with their company's accounts?
A)If they align both it is easier for the IRS to rely on their tax return and reduces their audit risk.
B)It allows more employees from the company to have input into generating their company's financial reports.
C)Banks will recognize their organization and view their system as more trustworthy.This increases their ability to obtain financing.
D)Information in the accounts feeds into lines on the tax return which reduces extra work needed at year end when tax returns are prepared.

Question

Quizplus · Accepted Answer

Aligning the company's tax form with their accounts in QBO allows the information to flow seamlessly from the accounts into the lines on the tax return, reducing the extra work needed at year-end when preparing tax returns. This saves time and effort for the company and ensures accuracy in reporting.

Why Do Users of QBO Want to Align Their Company's