Most accountants do not reconcile revenue reported by Small and Midsize Businesses (SMBs) to actual third-party databases.
Advisors take the numbers provided to them by a small business owner with 100% reliance on those numbers being accurate and reconciled. That is where the problem starts.
Unreconciled revenue when compared to third-party data is a disaster waiting to happen.
This allows taxing agencies to formulate their own conclusions of true reportable revenue and puts the SMBs at risk of being targeted.