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As a small business owner, keeping your financials in order is crucial—especially when it’s time to file taxes. Many small business owners come to us for cleanup services because they realize their books don’t reflect their actual business activity. Without accurate financials, you’re flying blind when it comes to planning, decision-making, and tax compliance. Here’s how we help small businesses clean up their books and get back on track: Step 1: Assess the Situation Our first step is to review your books and identify: What looks incorrect: We spot errors like negative balances, uncategorized transactions, or inconsistencies. What needs to be cleaned up: Issues like unreconciled accounts or miscategorized expenses. How to improve going forward: Suggestions to ensure your books remain accurate and useful. Common Issues We See in Small Business Books Here are some of the most frequent problems we uncover: Uncategorized transactions: These don’t show up in your financial reports, leaving you with an incomplete picture of your business. Bank and credit card accounts not reconciled: Without reconciliation, you can’t trust the accuracy of your financials. Large balances in the undeposited funds account: Often caused by customer payments not applied to invoices, leading to double-recorded income. Negative balances on the balance sheet: This usually indicates recording errors, like misapplied payments or incomplete loan setup. Inconsistent expense categorization: For example, telephone bills recorded under different accounts, making it harder to compare year-over-year trends. Step 2: Clean and Reconcile Once we’ve assessed your books, we tackle the cleanup process step by step: Categorize all transactions in holding: Ensuring they appear in your financials. Reconcile every bank, credit card, and loan account: Without reconciliation, there’s no confidence that your numbers are accurate. Apply customer payments to invoices: This prevents double-counting income and ensures your sales figures are correct. Review accounts with large balances: For example- A large sales tax liability may indicate payments are being recorded as expenses instead of reducing the liability. A negative loan balance could mean the original loan wasn’t recorded properly. Check for consistent categorization: We run reports to ensure, for example, that all telephone bills are categorized under the same expense account. Step 3: Build Confidence in Your Financials After cleaning up the books, you’ll gain: Accurate financials: Confidence that your reports reflect reality. Insights into past trends: So you can make informed decisions about the future. Ready for filing taxes: Avoid overpaying taxes by ensuring income is recorded only once. For instance, if customer payments are recorded as new income instead of being applied to existing invoices, you’ll overstate your revenue—and could end up paying taxes on double what you actually earned! Step 4: Prevent Future Problems We don’t stop at cleanup. We provide training and tips to help you: Keep your books accurate moving forward. Spot and fix issues early before they become major problems. Why Accurate Books Matter Accurate financials allow you to plan for the future of your business. Whether it’s forecasting cash flow, preparing for growth, or filing taxes, clean books give you the clarity and confidence to make smart decisions. Ready to clean up your books and take control of your financials? We’re here to help! Reach out to get started. Written By: Diane Roberts

Running a small business is no easy feat. From managing day-to-day operations to serving customers and planning for growth, the responsibilities can feel endless. One area where small business owners often struggle is keeping their finances in order—and that's where a QuickBooks ProAdvisor can make all the difference. If you want customized service find an accounting firm that specializes in QuickBooks Online. You will be supporting another business like yours while gaining insight from another business owner. A QuickBooks ProAdvisor is a certified expert in QuickBooks, trained to help small business owners maximize the software’s features while ensuring accurate and efficient bookkeeping. Here’s why partnering with a ProAdvisor can add immense value to your business. Expert Guidance You Can Trust QuickBooks ProAdvisors undergo rigorous training and testing to become certified. They are skilled in everything from basic bookkeeping to advanced accounting practices and can help you set up your QuickBooks account to suit your business needs. There are two levels of certification- Level 1 is basic and Level 2 is advanced. Whether you’re a startup just beginning to track your finances or an established company looking to optimize your accounting processes, a ProAdvisor ensures your system is tailored to your unique business model. They also stay up to date on software updates and new features, ensuring your business benefits from the latest tools and technologies. Saving You Time and Reducing Stress For many entrepreneurs, bookkeeping and financial management can quickly become overwhelming. Reconciling accounts, tracking expenses, and running payroll can eat up valuable time that could be better spent growing your business. A QuickBooks ProAdvisor takes these tasks off your plate, ensuring they’re done correctly and efficiently. They can also identify and correct errors that may otherwise lead to costly mistakes down the road, like unbalanced accounts or inaccurate tax filings. Maximizing QuickBooks Features QuickBooks is a powerful tool, but many business owners only scratch the surface of what it can do. A ProAdvisor can unlock its full potential for your business, including: Custom Reports: Gain deeper insights into your finances with tailored profit-and-loss or cash-flow statements. Job Costing: Track expenses for specific projects to ensure profitability. Automation: Set up workflows that save time, such as recurring invoices or payment reminders. By leveraging these advanced features, a ProAdvisor helps you make data-driven decisions that drive growth. Preparing for Tax Season and Audits One of the biggest stressors for small business owners is tax season. Ensuring your books are accurate and compliant with tax laws can be daunting, especially if you’ve fallen behind on your bookkeeping. A QuickBooks ProAdvisor helps you stay ahead of tax deadlines by keeping your financial records audit-ready year-round. They can work with your tax preparer or CPA to streamline the process, ensuring deductions are maximized and filings are accurate. Planning for Growth As your business grows, your accounting needs will evolve. A QuickBooks ProAdvisor can help you transition to more advanced features, such as multi-user setups or industry-specific tools. They can also provide strategic financial advice, helping you forecast cash flow, manage budgets, and plan for long-term success. Hiring a QuickBooks ProAdvisor is an investment in the health and future of your business. By providing expert guidance, saving you time, and optimizing your financial systems, a ProAdvisor helps you focus on what you do best: running and growing your business. If you’re ready to take control of your finances and unlock the full potential of QuickBooks, consider reaching out to a certified ProAdvisor today.

For small business owners, the word "audit" can strike fear and uncertainty. However, with proper preparation and organization, audits can become a manageable process—one that can even uncover valuable insights into your business operations. Here's what to expect during an audit and how to ensure your books are always audit-ready. What to Expect During an Audit An audit is a detailed examination of your financial records to ensure accuracy and compliance with tax laws, financial regulations, or internal policies. Here’s an overview of the process: Notification and Initial Request: You’ll receive a notice specifying the scope of the audit and a list of documents to provide, such as bank statements, receipts, and tax returns. Document Review: Auditors will examine your financial statements, expense records, payroll, and other relevant data. Interviews and Clarifications: Auditors may ask questions about specific transactions, policies, or discrepancies to gain a deeper understanding of your business practices. Findings and Recommendations: At the end of the audit, you’ll receive a report outlining findings, including any compliance issues or errors, along with recommendations for improvement. Audits can be conducted by external parties, such as the IRS, state agencies or financial institutions to assess processes and controls. How to Prepare for an Audit Proactive preparation can save time and reduce stress. Here’s how to ensure you're ready: Keep Accurate and Organized Records: Ensure all financial transactions are accurately recorded in your accounting software. Regularly reconcile bank statements, track receipts, and categorize expenses properly. Organized books are essential for quick retrieval of records and a sure sign that you are being proactive in keeping good financial records. Understand Compliance Requirements: Familiarize yourself with local, state, and federal regulations affecting your industry. Ensure you’re collecting and remitting the correct taxes, filing payroll reports, and following all applicable guidelines. Seek out professionals who are experts. Review Financial Statements Regularly: Conduct monthly or quarterly reviews of your income statement, balance sheet, and cash flow statement to ensure accuracy. Correct discrepancies as soon as they arise to avoid compounding errors. This should be regularly done with your accounting team. Maintain a Digital Trail: Use cloud-based accounting software like QuickBooks Online to store and back up records digitally. This makes it easier to retrieve and share information during an audit. Establish Internal Controls: Implement checks and balances, such as separating duties for handling cash and recording transactions. This reduces the risk of errors or fraud that could trigger red flags during an audit. Seek Professional Guidance: Enlist the help of a professional accountant or bookkeeper to ensure your books are accurate and compliant. If you’re notified of an upcoming audit, consider hiring a CPA with audit experience to guide you through the process. Preparing for an audit doesn't have to be daunting. By staying organized, adopting best practices, and leveraging technology, you can ensure your business is audit-ready at any time. Regular maintenance of your books not only reduces stress but also positions your business for growth and success. When in doubt, seek the guidance of financial professionals to help you stay on track.

Sometimes it’s hard for business owners to know how to take their businesses to the next level of growth and profitability. If you’ve been stuck at the same level of revenue or profit for a while, it could be because scaling your business is not a skill in your toolkit… yet. Enter a classic management book on scaling your business: High Output Management by Andrew Grove, ex-chairman and CEO of Intel. While the book was written in 1983, it has made a recent comeback in Silicon Valley, but it’s still not well-known outside of the Bay Area. Many people who have read it say it’s the best management book they’ve ever read—life-changing even. In the book, Grove applies the principles of engineering and manufacturing production to management. It’s all about process—developing processes and procedures so you can track what’s going on and measure the results or output every step of the way. Only then can you improve the process so it leads to higher output. Measurement is an important concept in the book. No matter what business you’re in, you can apply the ideas of developing processes, measuring them, and improving upon them in your business. Grove explains how managers can motivate their team members and improve production. He talks a lot about leverage, which enables scaling both positively and negatively, and how it can affect employees’ output. One example of positive leverage is when managers ‘nudge’ employees to enable their work. A negative example is when managers meddle and get in the way of progress. In the section on meetings, Grove breaks the topic down by purpose and lends his ideas on how to run each type of meeting better. He touches on other key topics such as decision-making, planning, motivation, performance reviews, and values. One significant highlight from the book: If you’re motivated to become a better manager and wish to improve the output of your organization, there’s nothing more important than training yourself. Reading this book is a wonderful way to spend time learning new business skills you can put into action immediately.

Creating a budget is one of the most critical steps for entrepreneurs looking to build a financially sustainable and successful business. A well-constructed budget not only helps manage day-to-day finances but also provides a roadmap for achieving long-term goals. To craft an effective budget, entrepreneurs must ask themselves the right questions. Here are some essential considerations: 1. What Are My Revenue Streams? 💰 Understanding where your money comes from is the foundation of any budget. Identify all revenue streams, whether it’s product sales, service fees, subscriptions, or other income sources. Ask: Are my revenue streams predictable, or do they vary seasonally? What are my most profitable products or services? How can I diversify my income to reduce risk? Knowing the answers to these questions allows you to forecast revenue realistically and prioritize high-margin opportunities. 2. What Are My Fixed and Variable Costs? 📊 Categorize your expenses into fixed (rent, utilities, salaries) and variable (materials, marketing campaigns, travel). For each expense, consider: Are my fixed costs sustainable as my business scales? Can I reduce variable costs without sacrificing quality? Am I accounting for inflation or rising costs in my projections? Breaking down expenses in this way ensures you have a clear picture of what it costs to operate your business. 3. What Are My Growth Goals? 🚀 Budgeting without growth goals is like navigating without a map. Ask yourself: Do I plan to expand into new markets, launch new products, or hire more staff? What investment is needed to achieve these goals, and when will I see returns? How can I balance reinvestment with profitability? Aligning your budget with your growth objectives helps ensure that every dollar spent supports your vision. 4. Do I Have a Contingency Plan? ⚠️ Even the best plans can face unexpected challenges. Ask: How much should I set aside for emergencies or unforeseen expenses? Are there risks (economic downturns, supply chain issues) that could impact my budget? How quickly can I access additional funds if needed? A contingency fund, typically 5-10% of your budget, can provide a financial safety net during turbulent times. 5. Am I Leveraging Technology? 💻 Modern budgeting tools can streamline your financial planning. Consider: Should I use software like QuickBooks, Xero, or specialized apps for forecasting? Can automation improve my accuracy and save time? What metrics or dashboards should I track regularly? Leveraging technology ensures you have real-time insights into your financial health. 6. How Will I Monitor and Adjust My Budget? 🔄 A budget isn’t static—it evolves as your business grows. Ask: How often will I review my financial performance (monthly, quarterly)? What key performance indicators (KPIs) will I track? Who on my team will be responsible for monitoring the budget? Regular reviews allow you to adapt to changing circumstances and seize new opportunities. 7. Should I Seek Professional Help? 🧑‍💼 Finally, recognize when it’s time to bring in experts. Ask: Do I need an accountant or CFO to guide my financial planning? Could outsourcing bookkeeping free up my time for strategic tasks? How can I ensure my budget aligns with tax requirements? Professional assistance can help you avoid costly mistakes and ensure your budget supports sustainable growth. Conclusion Building a business budget requires thoughtful planning and regular evaluation. By asking the right questions about revenue, expenses, growth goals, and risk management, entrepreneurs can create a budget that serves as a powerful tool for decision-making and long-term success. Start with these questions, and you’ll lay a strong financial foundation for your business.

We’ve been in a pandemic for what seems like five years now, right? All joking aside, if you’ve been lucky enough to work from home this past year, then it’s possible that you are going stir-crazy. Or maybe you’re simply ready to shake things up a bit. Working from home has its benefits. Yet, if you are someone who enjoys going to the office every day, chatting with co-workers in person, attending meetings that aren’t all virtual, and having a little spontaneity each week, then we’re here to help. Here are five tips to boost your WFH (work from home) environment.

QuickBooks Online is a powerful tool for managing your business finances, but there are times when even the savviest entrepreneur can benefit from professional help. Whether you’re struggling with errors, preparing for year-end, or exploring advanced features, knowing when to seek assistance can save you time, money, and stress. Here are key scenarios when reaching out to a professional is essential: Red Flags in Your QuickBooks Data 🚩 Your financial reports should provide clarity, not confusion. If you notice incorrect balances, negative accounts, or unbalanced reports, it’s time to call in a pro. These red flags could indicate underlying errors such as duplicate transactions, incorrect categorizations, or reconciliation issues. Left unaddressed, these mistakes can snowball, making it difficult to gauge your business’s financial health and potentially leading to inaccurate tax filings. Professionals can identify and resolve these issues efficiently, restoring your confidence in your data. Year-End Prep with QuickBooks 📅 Tax season can be overwhelming, especially when your books aren’t in perfect shape. Professional oversight during year-end prep ensures your QuickBooks data aligns with IRS requirements. Experts will help with tasks like reconciling accounts, categorizing expenses correctly, and generating accurate financial statements. This not only reduces the risk of audits or penalties but also gives you peace of mind as you close out the year. When DIY Becomes Overwhelming 😓 Managing QuickBooks alongside running your business can become a daunting task. If you find yourself spending more time troubleshooting software issues or reconciling accounts than focusing on growth, it’s time to outsource. A professional can take over bookkeeping tasks, streamline processes, and provide insights that help you make informed decisions. This allows you to focus on what you do best—growing your business. Cleanup After a Messy Year 🧹 Errors in your QuickBooks can accumulate over time, leading to a “messy year” that’s tough to untangle. Professionals specialize in cleanup projects, meticulously reviewing transactions, fixing errors, and reconciling accounts to ensure everything is accurate and up-to-date. This not only prepares your books for tax season but also sets a solid foundation for future growth. Transitioning to Advanced Features 🚀 QuickBooks Online offers powerful tools like job costing, inventory management, and app add-ons. However, implementing and optimizing these features can be complex. A professional can guide you through the transition, ensuring the setup is tailored to your business needs. They can also train your team on best practices, so you can fully leverage these advanced tools for improved efficiency and profitability.  Pro Help Isn’t a Luxury—It’s a Smart Investment QuickBook Online is a valuable asset, but knowing when to bring in a professional is key to maximizing its potential. From spotting errors to preparing for tax season and navigating advanced features, a financial expert can transform your QuickBooks experience from stressful to seamless. By investing in professional help, you’re not just fixing problems—you’re setting the stage for sustainable growth and long-term success.

Starting a business always sounds fun when you’re casually chatting with friends and family over drinks. You’re brainstorming and writing ideas down on napkins. There’s energy and excitement in the air. If you wake up the next morning, still jazzed to start this new venture, ask yourself these seven questions before you make the leap and become an entrepreneur.

Resilience is crucial in business because it empowers entrepreneurs to navigate challenges, adapt to changing circumstances, and recover from setbacks. It fosters a mindset of perseverance and problem-solving, enabling business owners to learn from failures, maintain focus on long-term goals, and drive continuous growth even in the face of adversity. Some business owners showing resilience during adversity- for inspiration!

In today’s fast-paced business environment, technology is no longer a luxury; it’s a necessity. Entrepreneurs who effectively harness the latest technological innovations can streamline processes, improve efficiency, and ultimately drive business growth and spend more time with clients providing excellent service.

The end of the year is a great time to review your QuickBooks Online account and make sure everything is in order. Here’s a quick checklist to help you get started: