How We Work With Your CPA
Accounovation isn't a CPA firm — we're the in-house finance team your CPA wishes you had. How we divide the work with your tax preparer and auditor, and when we'll tell you that you need one.
The short answer
We're not a CPA firm — we're the in-house finance team your CPA wishes you had. We run your books, month-end close, inventory costing and financial planning all year; your CPA prepares and files your tax returns and provides attest services. We hand them clean, reconciled financials and bring them in on decisions with tax consequences.
Who does what
| Accounovation | Your CPA | |
|---|---|---|
| Bookkeeping and month-end close | Yes — every month | Reviews at year-end |
| Inventory, WIP and product costing | Yes | Relies on our records |
| Financial statements and management reporting | Yes — monthly | Uses them for tax and attest work |
| Cash flow forecasting, budgets and CFO guidance | Yes | Advises on the tax side of decisions |
| Tax returns (federal, state, franchise) | No | Yes |
| Audits, reviews and compilations | We prepare you and support the auditor | An independent CPA firm performs them |
| Tax planning and elections | We model the cash impact of the options | Confirms the rules and makes the elections |
How the relationship works in practice
During the year, we keep the books reconciled and the inventory and fixed-asset records accurate, so nothing waits for a year-end clean-up. When a decision has tax consequences — buying equipment, changing an inventory method, restructuring entities, a large one-time sale — we model the scenarios and bring your CPA in before the decision is made, not after.
At year-end, your CPA receives a closed, reconciled set of books with supporting schedules: fixed-asset roll-forwards, inventory detail, accrual support and anything else they ask for. Their time goes into tax strategy and preparation instead of fixing transactions.
For audits and lender reviews, we prepare the schedules, documentation and reconciliations the auditor will request, and answer their questions about the numbers. Independence rules mean an outside CPA firm must perform the audit itself.
We'll tell you when you need a CPA
Some questions belong with a licensed CPA or tax attorney: tax return positions, state nexus filings, entity and tax structure, sales tax exemptions, and anything an auditor must opine on. When one of those comes up, we'll say so plainly and help you prepare. If you don't have a CPA who knows manufacturing, we can introduce you to firms we work with.
Frequently Asked Questions
Is Accounovation a CPA firm?
No. Accounovation is an outsourced accounting and fractional CFO firm led by Nauman Poonja, CPA. We don't prepare tax returns or perform audits. We work alongside your CPA firm, which handles tax preparation, filing and attest services.
Will working with you change our relationship with our CPA?
It usually improves it. Your CPA receives clean, reconciled books on time and spends less billable time on clean-up, so more of their time goes into tax planning and advice. We coordinate directly with them so you aren't the go-between.
Who handles tax planning?
Both of us, in different roles. We model the cash and financial impact of options like equipment purchases, inventory methods or entity changes; your CPA confirms the current rules, recommends the tax position and makes the elections on your returns.
Can you work with any CPA firm?
Yes. We work with local and national CPA firms of all sizes. All we need is an agreed year-end schedule and a point of contact; we'll adapt to how your CPA likes to receive information.
What if we don't have a CPA?
We can introduce you to CPA firms with manufacturing experience. You'll want one in place before year-end, especially if you carry inventory, own significant equipment or operate in more than one state.
Get clear on your numbers
Book a free 30-minute call to talk through your cash flow, margins and growth plans with a manufacturing finance expert.