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At Skynar Bookkeeping Services, we Set Up, Clean Up, and Keep Up with our clients’ bookkeeping. For help setting up your books, check out our past blog (link blog). Next is to clean up your books - but, what does that mean? In short, it means you reconcile. The process of reconciling can be as easy or as complicated as you make it, based on the time and attention you give your books on a regular basis.

Reconciliation requires meeting two criteria - verify the entry with the original documentation of the transaction and verify the entry with your bank statements. As you go entry by entry, double-check the original receipt for the correct amount and double-check your bank statement reflects this amount correctly. If the entry passes both criteria, move onto the

If you’re new to QuickBooks Online, you may not know of these quick shortcuts that make the user experience a breeze! If you prefer keyboard shortcuts versus clicking with the mouse, then you’ve come to the right place. You can save precious seconds by utilizing these quick and easy shortcuts to help you maneuver QuickBooks Online. We recommend printing this out and using it as a reference until you have the shortcuts memorized. Happy bookkeeping!

Open the Check window

Ctrl+Alt+W

Open the Expense window

Ctrl+Alt+X

Open the Estimate window

Ctrl+Alt+E

Open the Invoice

You’ve finally made the leap to open your own business…now what? Before money can start flowing in and out, you need to set up a sound bookkeeping system to record and keep track of all the transactions. 

Determine who will do your bookkeeping. 

Will your bookkeeping be done in-house by an employee, or will you outsource to a certified bookkeeper? Compare the costs for hiring a part-time or full-time employee versus outsourcing. What you’re starting out with will greatly help determine. You may decide to do the bookkeeping yourself, until business picks up, at least. 

Subscribe to a trusted software. 

If you decide to keep your bookkeeping in-house, you will need to research reputable

Bookkeeping is the process of recording transactions for a business or individual. Every successful business has a solid bookkeeping method that they maintain on a regular basis. Accurate and up-to-date bookkeeping records can help businesses make informed financial decisions for the short and long-term. There are many moving pieces to bookkeeping, so it can be easy to miss something or feel overwhelmed when you first start out. We compiled some of our favorite bookkeeping tips to help you this year and beyond! 

Triple check your work. 

Bookkeeping is all about accuracy! Double and triple-check each entry to make sure everything is correct. This goes for transaction entries, but also spelling. One mistake can throw off your books and create a

A new year many times brings new direction as we try to find new ways to live our lives! As a business owner, you have much on your plate - and most times, it seems to be overflowing. It’s hard to keep up with the day-to-day aspects of running a business while also implementing an overall strategy for the broad picture of your company’s success. This is where delegating tasks and creating a solid team of colleagues you can count on comes in handy. This year, it may be time to turn your bookkeeping over to a professional. Here are some signs it’s time to make the change…

Lack of time. 

As a CEO, it’s normal to wear many hats. But, when you try to juggle multiple projects and areas of the business at one time, this is

With a new year comes new dreams, plans, and opportunities! Take some time to reflect on the past year to see how far you’ve come, and then look ahead to the coming year to brainstorm where you’d like to go. A resolution is just a fancy word for a goal. What do you hope to accomplish this year? What about financially? There are some common financial resolutions that we can all plan to work on in the coming year…

Save more money. 

This is a simple resolution that many of us have - make more money! This means you could find ways to cut back on expenses and save or you find new ways to increase your income. Working with a financial professional will help you decide if it’s better for you to save or add based on your specific

The end of the year is the perfect time to sit down and review your bookkeeping and finances. The idea of a fresh start for the New Year is exciting, but you can’t move forward without knowing where you currently stand. There are many items to review at year-end, but below are just a few big ones to consider before the ball drops marking the New Year!

Cash Flow.

Reconcile your accounts for the year and then review your current cash flow. Are things tight or are you comfortable with the current inflow and outflow of money? Depending on where you stand, you will need to adapt accordingly. This might mean analyzing reports to see where you can cut back expenses or finding alternative options that cost less money. To move forward confidently, you need

Your bookkeeper isn’t there to just silently log your business’ financials - they’re there to be a guide for you and your business. Your bookkeeper can give you an inside look at the financial ins and outs of your business and provide valuable knowledge to help you make informed decisions. Take some time to talk with your bookkeeper to really understand where your business stands and where you may be headed by asking questions that provide important intel.  

Where are we wasting money?

Your bookkeeper knows the financial ins and outs of your business. They become familiar with your spending habits, budgeting skills, cash flow management, and more - use this to your advantage. Ask your bookkeeper where you’re wasting money

With holiday shopping in full swing, don’t forget about your bookkeeper! But, you won’t need to bust out your checkbook or budget for this wish list. These are just a few simple ways you can strengthen your relationship with your bookkeeper and, as a result, strengthen your bookkeeping!

Keep your receipts. 

Receipts come in digital forms, too! With how popular online shopping is, we’ve had to make the transition to digital receipts and documentation. When you receive an email regarding a purchase, forward this to your bookkeeper so they know to look for it in your credit card or bank statements. 

Communicate the correct info. 

When you begin to work with a new company or individual, or hire a

The biggest shopping weekend of the year is almost here - Black Friday, Small Business Saturday and Cyber Monday! With inflation on the rise, companies experiencing stock issues, and delays in shipping, it’s best to start your holiday shopping sooner than later. A great way to avoid a couple of those is to shop local and support small businesses in your community. Most of the items you find in major retail, super stores can also be found in mom-and-pop shops. Avoid the mass chains and try to support local businesses this holiday season!

Make the choice to shop small. 

The first step is to make the active choice to shop at a small business over a chain. As soon as you make that decision and step foot into a small business or visit their website,

Believe it or not, the holidays are approaching and the best time to start creating your game plan is now! The biggest holiday weekend of the year will be here before we know it - Black Friday, Small Business Saturday and Cyber Monday. If you want to save money this holiday season, we have tips that should be easy to implement and even easier to save. It’s all about making a list and checking it twice - Santa is not the only one who should do this. 

Make a list. 

Really! And check it twice. Yes! Creating a game plan before you head out to start shopping is the best plan. This way you have an idea what you’re looking for and the expected pricing. This also helps greatly with staying within your budget (which you should set and stick

How much do you actually know about being a bookkeeper? Although your bookkeeping is the backbone to your business, you probably have never wondered about it. There are some common bookkeeping myths we’d like to bust and facts we’d like to share so you can better understand the act of bookkeeping and being a bookkeeper. 

A degree is not required. 

To be a bookkeeper, there is not a required degree or “major” to study. Anyone can become a bookkeeper if they have the right program, the right training, and a self-motivation to learn and then execute. There are many trainings and classes available, so make sure you do your research before pursuing the first course you find. 

Certifications put you

There are plenty of ways to celebrate Halloween and Spooky Season, but remember to keep the scaries out of your bookkeeping! Dust those cobwebs off your books and get ready for some treats. Be sure to avoid these five common bookkeeping spookies…

Double-entries. 

It happens to the best of us - sometimes you’re so in the zone that you don’t notice you’re entering the same information twice. Being thorough is best, but be sure not to over-add to your books. 

Missing information. 

It’s important to be as thorough as possible. Your books are only as helpful as the information they possess - feed your books as much info as possible. The more details, the better. Missing information can

It’s spooky season! While there are things that should be frightening, your bookkeeping should not be one. We put together some awesome bookkeeping tricks so you can treat yourself with a better, more efficient user experience! Customize. 

Have your account reflect the tools you use most. Customize your toolbar in QuickBooks for easy and quick access to your most-used features. To do this, click “View,” “Customize Icon Bar.” From there, you can remove, add, or modify icons. 

Right Browser. 

Depending on which accounting software you use, it will work best with a specific browser. For instance, if you use QuickBooks, the best browser to use is Google

Whether your business has an in-house bookkeeper on staff or you outsourced your bookkeeping to a professional, there are certain things you need to review when it comes to your business and its finances. Whether you connect weekly or quarterly, be sure to review the following…

Cash flow. 

Review the in’s and out’s of your money. You should know where you stand financially, and where you are projected to go in the coming weeks and months. Discuss trends and prepare accordingly. 

Financial statements. 

Take things a bit deeper and analyze exactly where your business is making money and losing money. Work with your bookkeeper to create a sound plan for reaching your financial goals using the data

As the world we live in becomes more and more digital, we need to learn to keep ourselves and our information safe. Scams are evolving and hackers are learning new ways to obtain confidential information. Make sure you are staying updated on the latest cybersecurity crimes and practice safe online habits. Below are just a few…

Use strong passwords. 

It’s important to create long and strong passwords to keep your account(s) safe. It’s best to utilize a combination of letters, numbers, and symbols for the most creative, hard-to-hack passwords. Avoid using your first or last name or other personal information in your password, and try not to use the same password for more than one account. Some people prefer to use trusted password

Whether you complete your bookkeeping yourself or you have a bookkeeper, there are certain tasks that need to be done on a regular basis - consider these the basics of bookkeeping. This can act as your everyday bookkeeping checklist. 

Maintain accurate records. 

Stay on top of your financial transactions, record them, and triple-check for accuracy. Keep up with your books. Accuracy saves yourself from a mess later. 

Handle day-to-day management of accounts. 

Whatever needs to be done on the day-to-day, it’s up to you to complete efficiently and accurately (or your bookkeeper). Looking at your accounts all day will help you have a better grasp of the financial-aspect of your

In life, there are upsides and downsides to most things - debt included. Debt is something that receives a negative connotation, but virtually everyone has some sort of debt. It seems odd to say there is such a thing as “good” debt, but there is. On the flip side, there is also “bad” debt, which should be avoided. Nobody wants debt, however, good debt works in your favor, while bad debt does not. 

Good debt has the potential to increase your net worth or further you in life in some way. It’s typically low interest and will “pay off” in some way down the road. This includes loans for your education, for a business, a mortgage or other real estate investment. 

Bad debt will drive your credit score lower and weigh you down.