Follow us:

  • facebook
  • twitter
  • linkedin
  • youtube
  • instagram

 

budget-ease-logo

Bookkeeping FAQ Q&A: An Honest Guide for Small Businesses and Non-Profits.

May 1, 2025 1:10:14 PM Kathy Dise QuickBooks, Small Business, Start-ups, Financial Management, Bookkeeping, Profitability, small business bookkeeping, Virtual Bookkeeping Services, Online Bookkeeping Services, Cleveland Bookkeeping, Bookkeeping Companies, QuickBooks Bookkeeping Company, Non-profit Bookkeeping, Virtual Bookkeeper, Non-Profit Accounting, Reconciliations in QBO, A Bookkeepers Guide, Tax Season, Small Business Taxes, Tax Filing, Non-Profit Taxes

Bookkeeping FAQ Q&A: An Honest Guide for Small Businesses and Non-Profits.
1:45

Bookkeeping FAQ

Welcome to our Bookkeeping FAQ Q&A! Whether you're a small business owner, a non-profit manager, or just someone curious about bookkeeping, we've got you covered. Let's dive in! 

How do I make sure I have enough money to pay my taxes? 

Tax payments can be a real headache for small businesses, but planning is your best defense. Hoard your cash all year if you expect a large tax payment at year-end, assuming taxes will equal 30% of your net profits. Many small businesses open a separate account for taxes, only to raid it for emergencies. Instead, maintain a three-month cash cushion for emergencies and exercise fiscal restraint, even when your cash balance rises. Thinking about a major purchase? Ensure you have enough cash for both the purchase and taxes. BudgetEase can help you use your financial information to make that decision or build a cash forecast so you always know what funds you have. 

Should I switch to QuickBooks Online? 

We love QuickBooks Online (QBO). It's easy to access and keep up to date. However, it's not suitable for all clients. If you're a small business with inventory to manage, need to progress invoice, or your existing QuickBooks file is too big, QBO might not be for you. For very small start-ups concerned about fees, an Excel spreadsheet might be better options. 

Do I really need a budget? 

Absolutely. A budget is like a map to your destination. QuickBooks makes the process of creating a budget and tracking your progress a snap. Budgets are so important to us that it's included in the name of our business. We prepare a budget and enter it in QuickBooks for all our clients. 

I hope you found this helpful! If you need a bookkeeper to partner with your business, contact us today.  

 

 New Call-to-action

 

Kathy Dise

Written by Kathy Dise

Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.