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For example, you might have an operating account, lawyers trust accounts, accounts receivables, and fixed assets within the assets category. Accountants typically take the books and records prepared by a bookkeeper and use them to provide business advice, prepare financial statements, and file tax returns. The act of \u201cbookkeeping\u201d produces financial statements, which your CPA then uses to file your taxes. But they also have all the information you need to understand your firm\u2019s financial health month-to-month. The first thing you should do if you think you\u2019ve messed up is to contact a practice management advisor in your state.<\/p>\n<\/p>\n