Here's a fun fact for your holiday reflection: according to the Bureau of Labor Statistics, there are over 1.3 million certified accountants in the US. While you may not be among their ranks, you can still learn some important skills from these hardworking professionals.
9 min read
Topics: Bookkeeping tips bookkeeping tips tax
7 min read
There are a lot of responsibilities that come with running a successful construction business, but job costing is one of the most important. It's sort of like planning out your grocery list for Thanksgiving dinner...you want to get just the right amounts of everything without breaking the bank. And like planning the perfect holiday fête, when done correctly, job costing can ensure your construction business is successful while keeping surprises to a minimum.
8 min read
You might visualize bookkeeping as sitting at a desk covered in receipts, looking through a green visor at rows and rows of hand-written numbers. And you wouldn't be entirely wrong. Many businesses have traditionally used programs like Excel to handle their business finances. But we live in the future, and technology exists to make this arduous, expensive approach to bookkeeping go the way of the dodo.
Automated booking software has eliminated the need for Excel in many cases, yet the Microsoft tool is still used by businesses and entrepreneurs for their bookkeeping, budgeting, and accounting needs. Sure, Excel can be a valuable bookkeeping tool, but it has its share of disadvantages too.
13 min read
Someone should really write a tell-all book for business success that includes a money-back guarantee. There's no doubt that we'd buy that book. But since it doesn't exist (yet), the next-best alternative is to research and learn how to avoid the biggest mistakes and pain points your business might face.
3 min read
Ah, nuts. You realize you've written a check in the wrong amount, or you've sent it to the wrong vendor because you have so many to keep track of and sometimes things get mixed up. #smbproblems
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A fundamental piece of good bookkeeping is routine account reconciliation, the process in which you match up your transactions in QuickBooks Online (QBO) with your bank statement and credit card statements. In addition to being every amount of fun as it sounds, it’s a really helpful process to make sure that your bank accounts match up with your accounting system, and you’re not at risk of overspending based on what’s actually in the bank. It’s a similar process to balancing your checkbook.
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Having a competent bookkeeper could be the difference between steering your business to new growth and letting it spiral out of control, like a helicopter crash in an action movie. Whether your bookkeeper is an accountant who’s been with the company for decades, or it's your retired mother-in-law (or both), you must have confidence that they’re doing their job well and with your company’s bottom line in mind. Their daily work could be what leads to cutting nonessential costs and increasing your margins.
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We're here with another tutorial on how to best use Quickbooks for your business
This post quickly outlines how to manage your Chart of Accounts in QB Online!
What is a Chart of Accounts?
A chart of accounts (COA) is a financial organizational tool that provides a complete listing of every account in an accounting system. An account is a unique record for each type of asset, liability, equity, revenue, and expense.