You have been doing the reconciliations in your accounting software but do not know if they are accurate. You do them because you have always heard that doing the bank reconciliations for your business accounts is important. What is the purpose of reconciling your accounts? What should you look at when you are reconciling? How […]
Category Archives: Bookkeeping
07
Jun
Jun
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 […]
10
May
May
Understanding journal entries can be confusing. Your accountant or bookkeeper has probably let you know that these are essential for your accounting. Why do you need journal entries? What are the components of a journal entry? When would you use a journal entry? We will discuss these questions and provide examples of when journal entries […]
26
Apr
Apr
Do you ever feel like your bookkeeper is speaking another language? Or maybe it feels like they have an endless amount of questions. What do they even do while working on your books? If this situation sounds familiar, this article will assist you to find better ways to communicate with your bookkeeper and understand just […]
Bookkeeping, General Business, Outsourcing
What are the challenges when you outsource your accounting?
15
Mar
Mar
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? […]
01
Mar
Mar
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 […]
Bookkeeping, QuickBooks Online, Technology, Time Management
Do I really need bank feeds in QuickBooks Online?
01
Feb
Feb
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 […]
25
Jan
Jan
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 […]
07
Sep
Sep
If you own more than one company, you want to keep your accounting records clean. You likely have transactions that affect two or more companies, but you are unsure of how to enter them correctly. Many of our clients run two or more companies. If you are in this situation, what should you know about handling […]
10
Aug
Aug
You are thinking about making a major purchase for your business. You do not know if your purchase should be recorded as a fixed asset or an expense. And you are uncertain how to enter the purchase in your books. Your understanding of the criteria to look at and the potential tax implications will help […]