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Beyond Balanced Books Blog

small chest save payroll records

Do I need to save payroll records?

You may never have given too much thought to the saving of your payroll records. There will be many times that you need them. Here we will share with you our recommendations regarding the saving of your payroll records. We’ll consider the answers to these questions:. Why should you save your payroll records? When should […]

garden bank rules in qbo

Why should I use bank rules in QBO?

As a business owner, you did not start your business to do accounting (unless you are us of course!). If you are using QuickBooks Online (QBO) for your accounting, entering transactions manually is time-consuming. Wouldn’t it be great if QBO could create transactions for you? The good news is that it can – by using […]

gate 1 closing my books

Does closing my books mean that I cannot make any changes?

You have finalized your bookkeeping and have closed or locked your books for last year. But what needs to be done if you discover that something needs to be changed in your closed books? Does closing the books mean that you cannot change any of the information from the past? Closing your books protects you […]

house do I need to save bank statements

Do I need to save bank statements?

You receive bank statements every month either electronically or in the mail. Saving all your statements seems unnecessary. Do you really need to save them? Keeping your bank statements is always a good idea. What are the benefits of holding onto your bank statements? Is there any way to make statement storage simpler? We will […]

How can I create custom reports in QBO?

If you are using Quickbooks Online (QBO), you know their solution offers a wide selection of standard reports. While having the ability to create reports on-demand is great, what if you need a custom report? How can you create custom reports in QBO? Financial reports tell the story of your business. You may want customized […]

mismatch 1 accounting reports accurate

Are your accounting reports accurate?

You know you need accurate information to make good business decisions. You have been using an accounting system and are able to generate reports. Your reports should provide you with the information you need but you are unsure if your numbers are accurate. Two of the most common accounting reports are the balance sheet and the profit […]

bucket my profit

What happened to my profit?

According to your profit and loss (also known as an income statement), your business is showing a profit. However, when you look at your bank balance, it shows a lot less than the amount of profit you supposedly made. What happened to your profit? When reviewing reports with our clients, this question comes up often. […]

Do I need to save receipts?

For most every purchase, you receive a receipt, either paper or electronic. They pile up and you do not know what to do with them. Do you really need to save all your receipts? In short: a resounding YES. While saving every receipt may sound tedious, the advantages far outweigh any inconvenience. Here are some […]

How do I reconcile my bank accounts in QBO?

In the past, we have shared the importance of reconciling your bank accounts. At this point, you know you should do them. However, if you are a QuickBooks Online (QBO) user, running a bank reconciliation seems time-consuming and overwhelming. How do you reconcile your bank account in QBO? While it is true that reconciling your bank […]

Which accounting software should I use?

You know you need accurate and up to date information to successfully run your business. You want to use accounting software that will work for you. Which accounting software should you use? No matter which accounting software solution you choose, you need to determine your bookkeeping needs and make sure that the solution will satisfy […]

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