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 […]
Category Archives: Help
15
Feb
Feb
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 […]
09
Feb
Feb
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. […]
26
Jan
Jan
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 […]
12
Jan
Jan
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 […]
21
Dec
Dec
When trying to find the right bookkeeper, it’s important to look for someone whose values match your own. Just like in any relationship, if you share the same values, your professional partnership with them will be healthy. Which values are important in a bookkeeper? Here are some of the core values we share with our […]
08
Dec
Dec
You have decided to start your year-end planning early. You have gathered the facts to calculate your current net profit. You have your projections for income and expenses for the rest of the fiscal year. You have even set a realistic goal for your profit. What do you do now? Now comes the fun part! […]
01
Dec
Dec
You don’t know where to start with your year-end planning. You want to know in advance what your profit will be at the end of the year. More importantly, you want to know if there is anything you can do to change your net profit at the end of the year. A big part of year-end […]
01
Dec
Dec
You are ready to provide your books to your tax professional and have your business tax returns prepared. You want to know what you need to do in your QuickBooks (QBO) file to finalize the year. It is important to review your data for the year for accuracy. But there is another step that you […]
16
Nov
Nov
You feel anxious about your taxes. You want to know ahead of time what your profit will be for the year. And you want to plan the strategy for your profit. When should you even start planning for your year-end? The good news is that by planning ahead you can both estimate and control your profit for […]