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...
As a business owner, you may have already been thinking about hiring a bookkeeper. Or maybe you think you do not need one. I will give you just some of the benefits of hiring a virtual bookkeeper instead of an in-house bookkeeper or doing the books yourself. Reason #1...
If you’re in the throws of starting a new business, now’s the time to get a handle on your books. Once your business is thriving and your cash flow starts moving, you’ll benefit from having a solid strategy when it comes to your bookkeeping. Keeping track of your...
Here are some tips to make small business bookkeeping easier. 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...
You may be an expert in your field, but as a small business owner you need to wear a number of different hats, and you’re probably not an expert in everything. For a lot of business owners, small business accounting is an intimidating challenge. You can work hard,...
Badly tracked finances can cause your business a world of problems—from poor cash flow to improper tax filings and beyond. These kinds of problems can put a young business at serious risk. Good bookkeeping habits, on the other hand, can help a business thrive—and not...
