Business Bookkeeping – Online Statements

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#1
Posts:
67
Joined:
12-Nov-2019 10:28am
Location:
New Jersey
A new client wants my firm to do his business bookkeeping. The issue is he wanted me to view his expense transactions by going online into his credit card account instead of providing me with paper copies of his statements. He offered to supply me with his password. This seems strange to me. I don’t want to do anything illegal. Aren’t there privacy laws? Are we allowed to do this? What would you do if a client broached you with this possibility? For now, I requested that he send to me hard copies of his statements, and he has agreed to do so.
 

#2
Posts:
2887
Joined:
21-May-2018 7:50am
Location:
Northern MI and Coastal SC
I do it with business accounts, but not personal accounts. They need to grant me read-only access unless they are also giving me authority to do transfers, which it then needs to be restricted between specific accounts, or I need to be a signatory for full rights.
 

#3
Posts:
222
Joined:
23-Apr-2014 8:17pm
Location:
FL
I do everything with online access. Much faster and I don't have to wait (and usually beg) for the client to get paper to me. Your client can set up accountant's/view only access. This allows you to look at transactions but not do anything financially. QB has a bank feed which imports into QB. You set up rules as to which expense accounts to allocate to. It will save you a HUGE amount of time
 


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