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...
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...
Whether you are already underway with your business efforts, or you are just getting started, there are a few bookkeeping rules that should be implemented into your financial system: • Rule #1 – Separate Personal and Business Finances: Even though you are fronting the...
