Author Archives: Beyond Team

When should I create a budget?

You want to operate your business with less uncertainty and stress. A budget is a simple yet effective way to plan for your company’s future. When should you create a budget? This article discusses three common scenarios where budgets can be the most useful.  When planning for the next year You may be asking yourself, […]

What is a suspense account?

What is a suspense account

Have you ever noticed that some transactions in your books are being categorized to a suspense account? Suspense accounts can be confusing. You may have questions such as: What is the purpose of this account? When do you use it? Why does it have a balance?  We will discuss each of these questions one at […]

What are the challenges when you outsource your accounting?

It’s not possible to give every element of your construction business the time and attention it deserves. You’ve been trying to handle your finances on your own but it’s become overwhelming and you’re not even sure you’re doing everything right.  Wouldn’t you rather devote all your energy to things you excel at and actually enjoy?  […]

What is the General Ledger?

what is the general ledger

The general ledger tells the story of your business. It’s a collection of all your accounting transactions that can then be used to create reports, answer questions, and make key decisions.  And it’s one of our favorite things here at Beyond. But it’s possible you’re thinking, “what is the general ledger and why should I […]

What are adjusting entries?

what are adjusting entries

Adjusting journal entries, or AJEs, is an  accounting term you might have heard thrown around before and never quite understood. You may have even received AJEs from your tax accountant in the past, had no idea what to do with them, and ended up shoving them in a desk drawer or filing them away somewhere.  […]

Do I really need bank feeds in QuickBooks Online?

bank feeds in quickbooks online

We’ve talked before about the differences between QuickBooks Desktop and QuickBooks Online (QBO). One of the biggest differences between the two systems is related to bank feeds in Quickbooks Online. Bank feeds automatically download activity in QBO and they can even categorize transactions from connected accounts. This means you no longer have to manually enter […]

Ongoing bookkeeping vs clean-up/catch-up once per year

ongoing bookkeeping

You had a nagging suspicion for a while that something was wrong with your books. You were losing sleep and wasting hours trying to fix a problem that you didn’t even understand. Finally, you turned to a bookkeeper for help. They identified where you had gone wrong, cleaned up the mess, and presented you with […]

Should I switch to a new accounting platform?

Online accounting platforms are meant to relieve some of the anxiety of running a business. But often using the wrong platform means you’re left pulling your hair out in frustration or plagued with uncertainty about the future. At Beyond, we want all our clients to feel the ease and assurance that good accounting provides. That’s […]

Why do I need to start a new file?

new file accounting is like starting a garden

Having accurate accounting data is absolutely crucial to the long-term success of your business. Especially in the construction business, accurate accounting is the key to growing your profitability, preventing fraud, monitoring costs, and keeping your clients happy throughout the course of a project. Bad or inaccurate data, on the other hand, could lead to disaster.  […]