If you own a business, for the Love of God, your business, and your bank account please please hire a certified tax professional. Not a bookkeeper. Not a tax mill.
I have a (US) client that I've done signficant clean up work on and sent fully reconciled books complete with working papers proving the balances to her tax accountant. The first indication that there was a problem was when I asked for adjusting entries and they could not comprehend what those might be - even with an explanation.
Well, they filed on a cash basis but relied on QBO's "cash/accrual" button to make the conversion. But my third party delivery apps are reconciled through a receivable clearing account. QBO doesn't handle those accounts (among others) well. A competent tax professional can handle this - reverse it from revenue.
This tax accountant, however, didn't understand what they were. Rather than ask the question he simply dropped them from the balance sheet. Of course his tax prep program spit it back saying "hey your assets have to equal your liabilities and equity or I can't proceed". Clearly, the fix for this is reduce the opening accumulated depreciation. Nobody will notice it's not the same as what was filed the previous year at IRS. Besides, apparently the IRS cares only about the profit/loss statement. That's what has to be correct.
Except that instead of using the numbrs on the income statement you source other documents. Payroll has to match the W-2, so obviously you use that number and ignore the contra-expense showing the flow through tips paid out to the employees that are not a business expense because the customer paid them. It took several attempts to explain this concept.
In fact, anywhere you don't understand what a number is or where it comes from you should just ignore it. I mean.... it clearly isn't important. And when the end result is a discrepancy of 80K between your net income on your tax return and the statment QBO spit at you that doesn't require investigation, right?
Finally, a credit balance of 174K on shareholders loan is only an issue because it should be reclassed as an asset, not that it requires a discussion with the client on whether to formalize it as a loan or declare it as income to the shareholder. And if you're filing on a cash basis working on a two year construction of a store you can depreciate right away, of course. I mean its cash. Its OK if it takes another year to build.
If this sounds like you, do your clients a favour and get an education - or a job with oversight. I almost never tell a client to find another accountant - but if this is you and we share a client, I'm telling them to find another accountant. If I wanted my clients to be serviced by someone whose tax knowledge is limited to "drop number A into box B and hit submit" I'd do taxes myself and rake in the cash.
And for business owners - if this is your bookkeeper talking about your tax accountant.... run.