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The year is quickly winding down and the holiday season has  officially begun. Before you become consumed with holiday cheer, it’s important to keep in mind that the dwindling days also means there are certain things that need to be done or reviewed before the clock strikes midnight for the new Year! Whether a small business or large, they need to wrap a nice bow on your bookkeeping. 

Record & Reconcile. 

Make sure your records are up-to-date with the most current and accurate information. Then, review all current documentation and records for accuracy, and check for any missing information and record as necessary. After, it’s time to reconcile for the year! Make sure your books match your bank account(s) and credit card

It’s that time of year to give extra thanks to those in our lives who make it better. Someone you may not think of right away, but who deserves your utmost appreciation is your accountant! They work everyday to keep your books in the best state possible, to help your business thrive. Here are just a few reasons to be extra grateful for your accountant this season…

1. They save you time. 

Your accountant keeps your books nice, orderly, and up-to-date, which saves you hours and hours in the long run! You don’t have to lift a finger for your bookkeeping if you have an accountant who takes care of everything from A to Z. You can focus on other aspects of your business while they keep your books shining! 

2. They’re

There are some basic reports to look at every month, just to stay on top of everything and make sure things are going smoothly with your finances. One of these reports is your Chart of Accounts (CoA). Are you familiar with this? We hope so! For those that could use a little breakdown on your CoA, here we go!

Your Chart of Accounts is basically a screenshot of various components of your business and how they’re doing, financially speaking. It’s important to know that this is not just a chart of all your bank accounts - the word “account” can be used interchangeably with “category” or “component.” When we say “account,” this does not mean a bank account. Keep that in mind! One of the reasons we love QuickBooks is that it

It’s no secret that small businesses help communities thrive. Small Business Saturday is right around the corner, so we wanted to share some simple ways that each and every individual can help their local mom and pop shops. Whether you have money to spend or time to give, below you’ll find a variety of options to help support your local small businesses, and in result, your community! 

Shop local. 

The easiest way to support your community’s small businesses? Shop local! Avoid large chains and stick to the mom and pop shops. Keep your money local to support your community. 

Buy gift cards. 

This is a simple way to help small businesses near you. Whether it’s a restaurant, coffee

We could go on and on about how great of a program QuickBooks is - we are able to Set Up, Clean Up, and Keep Up with our clients’ bookkeeping thanks to the #1 accounting software for small to midsize businesses! But, why exactly is it so great? Which components make QB outshine its competitors? QuickBooks works to streamline itself so all your needs are in one place!

Accounting. 

QuickBooks will help you take control of your books! From inventory to reporting, cash flow to tracking income. QuickBooks helps make the process of accounting a breeze from A to Z. QB will share deeper insights on your finances, help you stay organized for tax time, and keep you in-the-know. 

Payments & Invoicing. 

QB

It may be spooky season, but your books are no place for cobwebs and skeletons! Small businesses should work to keep these scaries out of their bookkeeping…

Double-recording. 

It’s always important to double and triple-check each entry or action you make to your books, no matter what it is. Double-recording makes for a bookkeeping mess. Mistakes happen, so try to catch them sooner rather than later. 

Missing pieces. 

Forgetting to add information all together is detrimental to your books! Don’t miss a thing so your bookkeeping always remains up-to-date and, more importantly, accurate. You can’t make informed decisions without accurate and detailed

Let’s talk about reconciling your account(s) on a regular basis and why it’s necessary for not only your bookkeeping but your business. First, what does it mean to reconcile your account? This means you compare your books to your bank accounts over a period of time to make sure everything aligns perfectly (example: comparing your records to your bank account from March 1 - 31, 2019). If there are any discrepancies, you can catch them and act on it. Also, note that you only need to reconcile your accounts if you use the accrual method of accounting. If you use cash basis accounting, then every transaction is recorded at the same time as the bank, so there are no discrepancies.

There are four big reasons you need to reconcile your account(s) on a regular

Your bookkeeper/accountant should be the backbone of your business! They have all the answers on all things financial - they know where your money goes, where it comes from, which bills you pay, how much your employees make - everything. They know it all, so use them for their knowledge, experience, and expertise! Connect with your bookkeeper on a regular basis and ask questions - the answers can greatly help you make informed decisions for your business moving forward. 

1. Where are wasting money?

This is a question that’s in the back of every business owner’s mind. Where can your business cut back on it’s expenses? Your bookkeeper will have the answer. 

2.

It’s just as important to keep track of your personal finances as it is business finances. It’s easy to let your personal finance records go untouched with the chaos of everyday life, but it’s important to make good, disciplined financial choices on a regular basis and the best way to do that is to stay on top of things! 

Keep a log. 

Where are you spending your money? Write it down! Make a habit of sitting down at the end of every day and writing where you spent your money and how much, at the very minimum. You could take things a step further and detail what the purchase was or if you paid debit, credit or cash. 

Record your income. 

How much money are you bringing in? In another log,

The summer is becoming a sweet memory as we slip into the changes of fall. As the air becomes more crisp and the leaves fall, it’s a fantastic time to check in on your finances, both personal and business (if applicable). Know where you stand simply by investing the time in your finances that they deserve. Some items to add to your Fall To Do list…

Check your emergency stash & adjust as necessary. 

Everyone should strive to have a rainy day fund of money set aside on the off chance of an emergency. Life can be unexpected, so help yourself prepare by regularly adding to your emergency stash. 

Review your goals & steps to get there. 

What do you have left to accomplish this year? How do you plan

The weather and leaves may be changing, but you’re still set in your old ways. You have a mile long To Do list that seems to only continue growing the harder you work. The stack of receipts on your desk has turned into a mini mountain, you can’t remember the last time you logged a transaction, and you have a vague idea where your company stands financially but you just don’t have the time to really dive into it with everything else you need to accomplish.

Does this sound familiar? It may be time to outsource. Put simply, outsourcing means you pay an outside party to take over a portion of the business tasks in order to remain fully operational. Companies can choose to outsource different parts of their business, like the accounting and bookkeeping, marketing

Right when we think QuickBooks can’t possibly get any better, Intuit throws a new update at us that makes us realize how wrong we are! QB continues to evolve with the modern times and its users. This month they are introducing their very own QB business bank account called QuickBooks Cash. Here’s what we know…

QuickBooks Cash drops mid this month and is available to all. Intuit took all your banking needs - payroll, paying bills, accepting payments, sending invoices, cash analysis, and more - and put them all into one convenient place. QB Cash takes care of your money movement from point A to point Z and everywhere in-between, while also synching automatically with your QuickBooks account. 

Speaking of moving money…QB Cash has free instant