We are routinely contacted by small business owners who have made errors in their QuickBooks files. Mistakes range from not too bad to downright scary for the average business owner or inexperienced bookkeeper. Some of the things we routinely correct are:
Please meet one of our interesting clients, Century Chimney Sweep Inc. They are a member of the National Chimney Sweeps Guild, who provides exceptional chimney sweep and repair services to homes in Cuyahoga, Medina, Lorain, Lake, Geauga, and Summit counties. Owner Gary Spolar believes that the most important aspect of his business is the people. They are widely recognized for their amazing work, and we cannot recommend them enough.
We want you to get to know a client of ours, Homewatch CareGivers. They provide kind, compassionate and qualified care to their homebound clients, tailored to their unique needs and in their preferred surroundings. Two of their main objectives are high-quality care and interpersonal relationships. We hear over and over how the team at Homewatch provides the much-needed care for families and friends that can’t take care of themselves. We can’t recommend them highly enough.
Need polished reports for your banker, directors, or investors? The Management Reports feature is a simple, yet powerful feature in QuickBooks Online (QBO).
In short, yes. It is recommended that small businesses reconcile their accounts at least monthly, although some small businesses reconcile daily for cash flow reasons. This step-by-step video shows how to reconcile your bank account using QuickBooks.
The process of comparing your balance (known as the book balance) to the bank’s records (bank balance) is important for the following reasons:
Bookkeepers are an integral part of your financial process. They do the heaving lifting to keep your financial information up to date and correct.
To fully understand where your business stands financially, it's important to fill out expense reports. It will provide insight into your business' spending and cash flow, as well as can help you calculate profits, expenses and reimbursements. But to figure this out, what do you actually need in an expense report? To save you and your bookkeeper time, incorporate the following seven features into your expense report.
It can be confusing for small business owners to determine what professional service is needed. Typically, more than one service is necessary. Below are the differences in professional services available for you to determine which ones are best for your business.
It is crucial to for business owners to enter all of their transactions into their accounting system. The process of reconciling is important to ensure you have enough cash available to cover costs and are able to fund continued growth. However, business owners often determine their cash balance by checking what the bank shows online in the accounts at a point in time. However, you cannot accurately forecast cash flow unless you match and verify activity in the bank statement to QuickBooks or whichever accounting system you use.
One of the most exciting things a small business owner will do is hire their first employee. Though it make take some time to find the right person, after you're through the interview and references check process, and you're ready to say, "You're hired!", there are a few things you need to plan for on your end. We have some tips to help you get started.