1. Separate business and personal finances. Co-mingling expenses and income is a common mistake in small business bookkeeping—and one that will cause huge headaches for your business in the future. Open a business bank account as soon as you decide to go through with...
1. I shall do it on my own and have my accountant review In case, you have made up your mind to do bookkeeping on your own without taking help from a bookkeeping service provider or choosing to have an accountant review your work; you must ask yourselves these...
Tackle year end like a boss Every January we promise ourselves we’ll do things better this year. If you run a business, you might resolve to stay on top of your records all year so you don’t have to panic at tax time. But what if, despite your best intentions, tax...
Are you still the one taking care of your business’ bookkeeping? And, if you are, is it taking up WAY too much of your (very limited) time? If you are, there are (thankfully) plenty of free and inexpensive tools and tricks you can use to speed the process. Here are...
Within a few days of month end, do the following: 1. Enter all vendor bills: Make sure all vendor bills for the month are entered in QuickBooks 2. Reconcile vendor statements: Reconcile each vendor’s statement to the corresponding accounts payable balance in...
